REGISTERED NUMBER: 06385031 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Recy Systems UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr S L Bucknell

Mr C Curley

Mr K Ryan

Ms S Martin

SECRETARY:

Mr C Curley

REGISTERED OFFICE:

St George's House

14 George Street

Huntingdon

Cambridgeshire

PE29 3GH

REGISTERED NUMBER:

06385031 (England and Wales)

ACCOUNTANTS:

George Hay Partnership LLP

Chartered Accountants

St George's House

George Street

Huntingdon

Cambridgeshire

PE29 3GH

FIXED ASSETS

Tangible assets

4

5,874

5,912

CURRENT ASSETS

Debtors

5

40,239

9,188

Cash at bank and in hand

19,768

7,077

60,007

16,265

CREDITORS

Amounts falling due within one year

6

88,927

45,105

NET CURRENT LIABILITIES

(28,920

)

(28,840

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(23,046

)

(22,928

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(24,046

)

(23,928

)

SHAREHOLDERS' FUNDS

(23,046

)

(22,928

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 3 April 2019 and were signed on its behalf by:

Mr S L Bucknell - Director

1.	STATUTORY INFORMATION

Recy Systems UK Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

15,519

Additions

1,703

Disposals

(1,118

)

At 31 December 2018

16,104

DEPRECIATION

At 1 January 2018

9,607

Charge for year

1,532

Eliminated on disposal

(909

)

At 31 December 2018

10,230

NET BOOK VALUE

At 31 December 2018

5,874

At 31 December 2017

5,912

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

38,589

5,479

Other debtors

1,650

3,709

40,239

9,188

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

134

153

Amounts owed to group undertakings

62,075

36,814

Taxation and social security

23,862

4,771

Other creditors

2,856

3,367

88,927

45,105

7.	ULTIMATE CONTROLLING PARTY

The ultimate parent company and the controlling entity, by way of its holding 100% of the allotted

share capital in the company is Recy Systems AG, a company incorporated in Germany.

During the year the company traded with its parent company. All transactions were undertaken on an

arms length basis.

The company purchased goods and services from the parent company amounting to £225,207 (2017:

£227,726) and sold goods and services amounting to £4,293 (2017: £9,211).

At the year end date the company owed its parent company £62,075 (2017: £36,841).

8.	GOING CONCERN

At the balance sheet date the company had liabilities in excess of assets. The directors are aware of

this position and business is being carried out with a long term aim of profitability.

The directors are of the opinion that it is appropriate to prepare the accounts on a going concern basis

as all debts are being paid as they fall due. The company continues to have the support of its parent.