## **Annual Report & Unaudited Financial Statements** **For the year ending 31[st] December 2025** **Registered Charity Number 1072029 Company Number 02435729** **Recycling of Used Plastics Limited** ## **Contents of the Financial Statements for the Year Ended 31 December 2025** ||**Page**| |---|---| |**Report of the Trustees**|1 to 5| |**Independent Examiner's Report**|6| |**Statement of Financial Activities**|7| |**Balance Sheet**|8| |**Cash Flow Statement**|9| |**Notes to the Cash Flow Statement**|10| |**Notes to the Financial Statements**|11 to 17| |**Detailed Statement of Financial Activities**|18| ## **Recycling of Used Plastics Limited** ## **Report of the Trustees for the Year Ended 31 December 2025** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **Chair and CEO Introduction** As we reflect on RECOUP's excellent and extensive work in 2025, we would like to extend our thanks to our members, sponsors and partners for their continued support. Their commitment has been instrumental in supporting us to navigate the rapidly evolving landscape, where the interplay between plastics resource management and environmental stewardship continues to present both opportunities and significant challenges. The need for decisive action remains against the backdrop of fewer resources, higher cost pressures and ongoing market challenges. RECOUP have embraced and supported the generational legislative changes that have, and continue to be implemented over the coming years impacting the environment, sustainability and materials. But these policies will still need further refinement, policing and evolving further. Corporate leadership, academic innovation and integrated supply chain involvement will all need to be more than just buzz words, and delivered practically and at scale. Trends in 2025 and into 2026 have continued to cause challenges with higher legislative costs placed on producers, ongoing operational cost increases for both producer, waste management and recycling parts of the value chain, material competition from imports, systems being undermined by fraud and illegal activities, and the impact of global conflicts. The economic climate is placing increased pressure on systems and material recovery efforts, while policy changes at both national and international levels have reshaped operational frameworks for the plastics and packaging sectors, combined with the increasing focus and concerns over the pace of climate change which we must work together to mitigate. ## **An Overview of 2025** At RECOUP, we are a network of members and supporters who aim to overcome barriers, drive innovation, and advance plastics resource efficiency and recycling for the benefit of the environment. Ensuring that the plastics circular economy is effective requires practical solutions grounded in knowledge sharing, research, and on-the-ground initiatives which aligns directly with the aims of RECOUP. Through targeted programmes agreed by the Board, robust partnerships, and thought leadership, RECOUP will continue to drive forward the conversation and actions needed to deliver tangible outcomes. As we look to the future, we remain energised and ready to confront the challenges ahead, confident that we can turn ambition into impactful change with the ongoing support of members and sponsors. 2025 was very much a continuation of the ongoing work programmes for the charity. While RECOUP have been resilient to the additional financial pressure across sectors and value chain in recent years, we are not immune. There has been a noticeable decrease in available funding pots to deliver work in the plastic circularity space, and more challenges in securing new supporters. Resources and budgets have been amended accordingly, and 2026 is also anticipated to be challenging. That said, there is still a clear and immediate need for RECOUP's work. The pressure on the plastics value chain is greater than ever, with evolving legislation, shifting business priorities, and heightened consumer expectations. In response, RECOUP has remained agile and proactive-advancing evidence gathering, evaluating new technologies, and tackling barriers to nurture a truly circular economy for plastics. RECOUP's collaborative approach remains a key driver of success. Our work spans the entire plastics value chain, fostering partnerships with stakeholders, trade bodies, and organisations sharing aligned objectives. International engagement remains vital, as shared challenges and solutions extend beyond national borders, connecting us with partners across Europe and beyond. Page 1 ## **Recycling of Used Plastics Limited** ## **Report of the Trustees for the Year Ended 31 December 2025** ## **Legal and Administrative Information** Recycling Of Used Plastics Limited, otherwise known as RECOUP, is a Registered Charity, number 1072029, and a Company, registered in England and Wales, number 02435729. Its governing documents are its Memorandum and Articles of Association, originally approved by the members in January 1998 and by the Charity Commission in September 1998, and revised most recently in 2024. This is supplemented by byelaws which are regularly reviewed and approved by the Board. The Registered Office address and the names of the Trustees and Advisers are set out in the administrative details. In accordance with the Articles of Association, Mr Steven Walsh and Mr Stuart Hayward-Higham retired by rotation. Mr Stuart Hayward-Higham was re-elected. ## **Trustee Induction and Training** New Trustees are provided with information on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and the recent financial performance of the Charity. ## **The Commitments of the Charity** We take great pride in our longstanding commitments which have changed very little since the organisation was formed in 1990; - Inspire collaboration by connecting the whole plastics value chain - Lead the continued development of a plastic circular economy, resource efficiency, recycling and re-use. - Educate the public and businesses on all aspects of plastics recycling and resource efficiency. ## **Charitable Objectives** - To advance the education of the public on the subject of plastics circular economy, resource efficiency, recycling and re-use so as to protect the environment. - To preserve and protect the physical and natural environment for the public benefit through the promotion of reduction, re-use and recycling of plastics. ## **Governance** RECOUP is administered by its Trustees who are elected by the members of the company, in accordance with the Memorandum and Articles of Association. A number of Advisers are appointed on the Board to provide guidance and input alongside Trustees. The Board meet at least three times a year to formulate the policies of the company and to engage and instruct independent third parties to implement such policies on their behalf. The company itself does not directly employ people. ## **Reserves Policy** Reserves are that part of a charity's unrestricted funds that are freely available to spend on any of the charity's purposes. The Trustees have established the level of reserves the Charity should have and agreed the following target: "The reserves are to be maintained at a level which ensures that RECOUP's basic core activity could continue in the short term during a period of unforeseen difficulty. On the basis of current expenditure, the Funds at a balance of at least one month of outgoings would ideally be required." As anticipated the majority of restricted funds received were expended during the course of 2025 with planned draw down against delivered projects. But due to reductions in reserves part way through the year, the RECOUP costs were reduced in line with Trustee affordability discussions. This remains an ongoing process and there is a target to increase reserves alongside reducing accounts payable values in 2026. Page 2 ## **Recycling of Used Plastics Limited** ## **Report of the Trustees for the Year Ended 31 December 2025** The actual reserves at 31st December 2025 were unrestricted funds £(61,172) (2024 £10,801) and restricted funds £36,400 (2024 £6,632). It is the Trustees view that it is prudent to ensure that there are sufficient reserves to provide financial flexibility in order to meet future obligations, whilst also ensuring uncommitted funds are allocated in a timely way to the furtherment of RECOUP aims. The Trustees acknowledge that we are currently operating at a level well below our target in terms of reserves, with a negative reserve position at the end of the year. However we remain positive that this situation can be resolved. RECOUP have never operated as a cash rich organisation with extensive reserves, and the potential remains to rapidly improve the situation through securing of supporters and projects, with a healthy potential list that needs to be realised, whilst controlling costs. It is also recognised that the organisation has grown over the past five years which also increases the importance of reserves. ## **Public Benefit** In setting our objectives and planning our activities our Trustees have given careful consideration to the Charity Commission's general guidance on public benefit. RECOUP use the support and resources made available from the Charity Commission as required. Since 1990, RECOUP have been involved in projects and activities that have direct or indirect interaction with the public, to educate and promote on plastics recycling and wider positive environmental responsibility. This is a critical component of our activities with a dedicated programme of work. Since 2004, our campaigns which are now branded as rSTUFF have been the key consumer facing initiative to deliver all RECOUP citizen engagement activities relating to plastics recycling. The aim remains to provide consistent, evidence-based plastic resource and recycling messages to citizens whether at home, school, work or on-the-go. Throughout 2025, a range of consumer engagement projects were delivered and partnerships developed with community groups, local authorities and education establishments. ## **Review of Principal Activities** RECOUP is a not-for-profit organisation and registered charity built on a diverse network of members and stakeholder who represent all sectors of the plastics supply and recovery chain. This includes polymer producers, convertors, packer fillers, brands, retailers, local authorities, waste management companies, compliance schemes, plastics reprocessors and academia. The depth and scope of our network provides us with valuable insights and access to the complete plastic supply chain. Our affiliations with a number of corporate trade bodies, academic groups and NGOs further strengthen our reach and ability to drive meaningful change. RECOUP delivers a range of activities related to the sustainable development of plastics resource efficiency and recycling. This includes the delivery of on-the-ground trials and demonstrator projects, research, consumer insight, engagement and education and stakeholder advice. This includes working collaboratively with UK and international stakeholder groups; responding to government consultations; research and information sharing; bespoke member activities; attending and speaking at conferences and exhibitions; and many other activities. To enable the workloads and priorities to be managed and delivered effectively, all RECOUP activities in 2025 contributed to delivering the aims of the organisation, and fall under three key areas: - - Education and Engagement - Projects and Research - Policy and Strategy There are a number of member forums and advisory groups to cover detailed discussions on specific topics and provide recommendations back to the RECOUP team and Board where appropriate. Financial Position and Outlook The figures for 2025 reflect prudent financial management during the year with careful monitoring and amendments to central costs as required. It also reflects the uncertainty and financial pressures across our network of supporters over the past year. Unrestricted income for the year was £642,553 (2024 £687,311) Page 3 and net assets/(liabilities) were (£24,773) (2024 £17,433)., Page 3 **Recycling of Used Plastics Limited** ## **Report of the Trustees for the Year Ended 31 December 2025** Income in the second half of 2025 was lower than expected with reduced income from membership and projects. The Trustees have a reasonable expectation that the Charity has adequate resources and measure in place to meet its liabilities for the foreseeable future. The board do not have any concerns regarding the continuation of the organisation but do accept that close management across 2026 is required due to the unique market challenges and conditions. The Restricted Funds are detailed in Note 11. We are confident that the business is able to maintain normal operations during the forthcoming year and for this reason to have continued to adopt the going concern basis in preparing the financial statements. ## **Internal Control and Risk Management** The Trustees continue to monitor the major risks to which the charitable company is exposed and to keep under review the adequacy of the systems, which they believe are acceptable and appropriate to the size of the Charity and the nature of its operations. Historically the major risk is loss of membership and sponsorship income, with resources and expenditure managed carefully in line with funds available. Delays in payment of agreed member and project invoices are also managed carefully to avoid cashflow issues. This would result in a review of workplans and resource allocation ensure financial stability. Finances, membership and projects are reviewed on an ongoing basis, and reported to the Board at regular intervals. ## **Investment Policies** Under the Memorandum and Articles of Association, the charity has the power to make any investment which the Trustees see fit. ## **Trustees' Responsibilities** Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure for that period. In preparing these financial statements the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS102); - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS102) have been followed, subject to any material departures disclosed and explained in the financial statements. - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Independent Examiners** George Hay Chartered Accountants are willing to provide Independent Examination services and a resolution to appoint them was passed at the 2025 Annual General Meeting. Page 4 ## **Recycling of Used Plastics Limited** ## **Report of the Trustees for the Year Ended 31 December 2025** ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 02435729 (England and Wales) **Registered Charity number** 1072029 ## **Registered office** 1 Metro Centre Welbeck Way Woodston Peterborough Cambridgeshire PE2 7UH ## **Trustees** J E Armstrong - General Manager and Chair M Baxter - Director I A Burman - Charity Lawyer D J Cheke – Material Sales Manager A R Detta – Environmental Services & Recycling I L Ferguson – Environment Manager S J Foster - CEO S Hayward-Higham – Technical Development Manager J C Marsh – Senior Packaging Specialist N E Panagiotopoulos – Head of Sustainability Advocacy S C Walsh – Sales Engineer (resigned 15.10.25) A S C Whyle – Consultants and Vice Chair ## **Independent Examiner** George Hay Partnership LLP Chartered Accountants St George's House George Street Huntingdon Cambridgeshire PE29 3GH Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 17[th] March 2026 and signed on the board's behalf by: J E Armstrong - Trustee Page 5 ## **Independent Examiner's Report to the Trustees of Recycling of Used Plastics Limited** ## **Independent examiner's report to the trustees of Recycling of Used Plastics Limited ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Emma Wilsher FCA George Hay Partnership LLP Chartered Accountants St George's House George Street Huntingdon Cambridgeshire PE29 3GH Date: 21 May 2026 Page 6 ## **Recycling of Used Plastics Limited** ## **Statement of Financial Activities for the Year Ended 31 December 2025** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
642,197
Investment income
3
356
**Total**
642,553
**EXPENDITURE ON**
**Charitable activities**
4
Membership fundraising
695,354
Other
5
15,856
**Total**
711,210
**NET INCOME/(EXPENDITURE)**
(68,657)
**Transfers between funds**
11
(3,316)
**Net movement in funds**
(71,973)
**RECONCILIATION OF FUNDS**
Total funds brought forward
10,801
**TOTAL FUNDS CARRIED FORWARD**
(61,172)|Restricted
funds
£
92,163
-
92,163
65,711
-
65,711
26,452
3,316
29,768
6,632
36,400|31/12/25
Total
funds
£
734,360
356
734,716
761,065
15,856
776,921
(42,205)
-
(42,205)
17,433
(24,772)|31/12/24
Total
funds
£
754,739
1,008
755,747
734,488
9,339
743,827
11,920
-
11,920
5,513
17,433| |---|---|---|---| The notes form part of these financial statements Page 7 ## **Recycling of Used Plastics Limited** ## **Balance Sheet 31 December 2025** |Unrestricted
fund
Notes
£
**FIXED ASSETS**
Investments
8
1
**CURRENT ASSETS**
Debtors
9
155,163
Cash at bank
3,236
158,399
**CREDITORS**
Amounts falling due within one year
10
(219,572)
**NET CURRENT ASSETS/(LIABILITIES)**
(61,173)
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
(61,172)
**NET ASSETS/(LIABILITIES)**
(61,172)
**FUNDS**
11
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
-
47,400
47,400
(11,000)
36,400
36,400
36,400|31/12/25
Total
funds
£
1
155,163
50,636
205,799
(230,572)
(24,773)
(24,772)
(24,772)
(61,172)
36,400
(24,772)|31/12/24
Total
funds
£
1
160,255
27,083
187,338
(169,906)
17,432
17,433
17,433
10,801
6,632
17,433| |---|---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that 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 charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company. The financial statements were approved by the Board of Trustees and authorised for issue on 17[th] March 2026 and were signed on its behalf by: J E Armstrong - Trustee The notes form part of these financial statements Page 8 ## **Recycling of Used Plastics Limited** ## **Cash Flow Statement for the Year Ended 31 December 2025** |||31/12/25|31/12/24| |---|---|---|---| ||Notes|£|£| |**Cash flows from operating activities**|||| |Cash generated from operations|1|23,197|(23,304)| |Net cash provided by/(used in) operating activities||23,197|(23,304)| |**Cash flows from investing activities**|||| |Interest received||356|1,008| |Net cash provided by investing activities||356|1,008| ||||| |**Change in cash and cash equivalents**|||| |**in the reporting period**||23,553|(22,296)| |**Cash and cash equivalents at the**|||| |**beginning of the reporting period**||27,083|49,379| |**Cash and cash equivalents at the end**|||| |**of the reporting period**||50,636|27,083| The notes form part of these financial statements Page 9 ## **Recycling of Used Plastics Limited** ## **Notes to the Cash Flow Statement for the Year Ended 31 December 2025** ## **1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** ||**ACTIVITIES**||| |---|---|---|---| |||31/12/25|31/12/24| |||£|£| ||**Net (expenditure)/income for the reporting period (as per the**||| ||**Statement of Financial Activities)**|(42,205)|11,920| ||**Adjustments for:**||| ||Interest received|(356)|(1,008)| ||Decrease/(increase) in debtors|5,092|(76,335)| ||Increase in creditors|60,666|42,119| ||**Net cash provided by/(used in) operations**|23,197|(23,304)| |**2.**|**ANALYSIS OF CHANGES IN NET FUNDS**||| |At 1.1.25
Cash flow
At
£
£
**Net cash**
Cash at bank and in hand
27,083
23,553
27,083
23,553
**Total**
27,083
23,553|31.12.25
£
50,636
50,636
50,636| |---|---| The notes form part of these financial statements Page 10 **Recycling of Used Plastics Limited** ## **Notes to the Financial Statements for the Year Ended 31 December 2025** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. ## **Going Concern** At the 31 December 2025 the overall reserves available for use by the charity were depleted, with a negative position of £24,772. The accounts have been prepared on a going concern basis on the understanding the Trustees believe the Charity can continue to operate for the foreseeable future with their support. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Debtors and creditors receivable / payable within one year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. ## **2. DONATIONS AND LEGACIES** |Membership contributions
Project income
Conference|31/12/25
£
551,640
140,316
42,404
734,360|31/12/24
£
614,596
109,573
30,570
754,739| |---|---|---| In the case of voluntary contributions, this is only when they are received. All other income is Page 11 continued... accounted for under the accruals concept. Gifts in kind are valued at their estimated value to the charity. Page 11 continued... **Recycling of Used Plastics Limited** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2025** ## **3. INVESTMENT INCOME** |31/12/25
£
Interest receivable - trading
356
**4.**
**CHARITABLE ACTIVITIES COSTS**
Membership fundraising
**5.**
**OTHER**
31/12/25
£
Bank charges
413
Accountancy fees
3,500
Advertising
8,438
Insurance
3,505
15,856|31/12/24
£
1,008
Direct
Costs
£
761,065
31/12/24
£
498
3,065
4,002
1,774
9,339| |---|---| The charity undertakes direct charitable activities only and does not make grant payments. ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024. ## **Trustees' expenses** There were trustees' expenses of £1,250 paid for the year ended 31 December 2025 (£nil for 31 December 2024). |**7.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
686,303
Investment income
1,008
**Total**
687,311
**EXPENDITURE ON**
**Charitable activities**
Membership fundraising
625,184
Other
9,339
**Total**
634,523|Restricted
funds
£
68,436
-
68,436
109,304
-
109,304|Total
funds
£
754,739
1,008
755,747
734,488
9,339
743,827| |---|---|---| Page 12 continued... ## **Recycling of Used Plastics Limited** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2025** |**7.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|| |---|---|---|---|---|---| |||Unrestricted|Restricted||
Total| |||fund|funds||funds| |||£|£||£| ||**NET INCOME/(EXPENDITURE)**|52,788|(40,868)||11,920| ||**RECONCILIATION OF FUNDS**||||| ||Total funds brought forward|(41,987)|47,500||5,513| ||**TOTAL FUNDS CARRIED FORWARD**|10,801|6,632||17,433| |**8.**|**FIXED ASSET INVESTMENTS**||||| ||||||Unlisted| ||||||investments| ||||||£| ||**MARKET VALUE**||||| ||At 1 January 2025 and||||| ||31 December 2025||||1| ||**NET BOOK VALUE**||||| ||At 31 December 2025||||1| ||At 31 December 2024||||1| ||There were no investment assets outside the UK.||||| |**9.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||| ||||31/12/25||31/12/24| ||||£||£| ||Trade debtors||155,163||153,675| ||VAT|||-|922| ||Prepayments and accrued income|||-|5,658| ||||155,163||160,255| Page 13 continued... **Recycling of Used Plastics Limited** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2025** ## **10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade creditors
VAT
Other creditors
Accruals and deferred income|31/12/25
£
70,173
7,491
150,008
2,900
230,572|31/12/24
£
29,235
-
137,771
2,900
169,906| |---|---|---| ## **11. MOVEMENT IN FUNDS** |||Net|Transfers|| |---|---|---|---|---| |||movement|between|At| ||At 1.1.25|in funds|funds|31.12.25| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|10,801|(68,657)|(3,316)|(61,172)| |**Restricted funds**||||| |RECOUP Conference 2025|-|(3,316)|3,316|-| |Soils Project|1,632|(1,632)|-|-| |UK Rope Recycling|5,000|(5,000)|-|-| |Lab Maintenance|-|1,300|-|1,300| |Beyondly LA Activation|-|20,000|-|20,000| |Beyondly Rstuff|-|15,000|-|15,000| |EPRO|-|100|-|100| ||6,632|26,452|3,316|36,400| |**TOTAL FUNDS**|17,433|(42,205)|-|(24,772)| Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
LCA Library
RECOUP Conference 2025
RECOUP Summit 2025
Soils Project
UK Rope Recycling
Lab Maintenance
Beyondly LA Activation
Beyondly Rstuff
EPRO
**TOTAL FUNDS**|Incoming
resources
£
642,553
11,000
31,339
11,065
-
-
3,659
20,000
15,000
100
92,163
734,716|Resources
Movement
expended
in funds
£
£
(711,210)
(68,657)
(11,000)
-
(34,655)
(3,316)
(11,065)
-
(1,632)
(1,632)
(5,000)
(5,000)
(2,359)
1,300
-
20,000
-
15,000
-
100
(65,711)
26,452
(776,921)
(42,205)| |---|---|---| Page 14 continued... **Recycling of Used Plastics Limited** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2025** ## **11. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |||Net|| |---|---|---|---| |||movement|At| ||At 1.1.24|in funds|31.12.24| ||£|£|£| |**Unrestricted funds**|||| |General fund|(41,987)|52,788|10,801| |**Restricted funds**|||| |Pledge to Recycle|10,000|(10,000)|-| |Litter Pathways|30,000|(30,000)|-| |Bring It Back|7,500|(7,500)|-| |Soils Project|-|1,632|1,632| |UK Rope Recycling|-|5,000|5,000| ||47,500|(40,868)|6,632| |**TOTAL FUNDS**|5,513|11,920|17,433| |Comparative net movement in funds, included in the above are as follows:|||| |**Unrestricted funds**
General fund
**Restricted funds**
Pledge to Recycle
Litter Pathways
Bring It Back
Soils Project
UK Rope Recycling
RECOUP Conference 2024
**TOTAL FUNDS**|Incoming
resources
£
687,311
23,000
-
-
10,000
5,000
30,436
68,436
755,747|Resources
Movement
expended
in funds
£
£
(634,523)
52,788
(33,000)
(10,000)
(30,000)
(30,000)
(7,500)
(7,500)
(8,368)
1,632
-
5,000
(30,436)
-
(109,304)
(40,868)
(743,827)
11,920| |---|---|---| Page 15 continued... **Recycling of Used Plastics Limited** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2025** ## **11. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |||Net|Transfers|Transfers|| |---|---|---|---|---|---| |||movement|between||At| ||At 1.1.24|in funds|funds||31.12.25| ||£|£|£||£| |**Unrestricted funds**|||||| |General fund|(41,987)|(15,869)|(3,316)||(61,172)| |**Restricted funds**|||||| |Pledge to Recycle|10,000|(10,000)||-|-| |Litter Pathways|30,000|(30,000)||-|-| |Bring It Back|7,500|(7,500)||-|-| |RECOUP Conference 2025|-|(3,316)|3,316||-| |Lab Maintenance|-|1,300||-|1,300| |Beyondly LA Activation|-|20,000||-|20,000| |Beyondly Rstuff|-|15,000||-|15,000| |EPRO|-|100||-|100| ||47,500|(14,416)|3,316||36,400| |**TOTAL FUNDS**|5,513|(30,285)||-|(24,772)| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|
Resources|Movement| |---|---|---|---| ||resources|
expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|1,329,864|(1,345,733)|(15,869)| |**Restricted funds**|||| |Pledge to Recycle|23,000|(33,000)|(10,000)| |Litter Pathways|-|(30,000)|(30,000)| |Bring It Back|-|(7,500)|(7,500)| |LCA Library|11,000|(11,000)|-| |RECOUP Conference 2025|31,339|(34,655)|(3,316)| |RECOUP Summit 2025|11,065|(11,065)|-| |Soils Project|10,000|(10,000)|-| |UK Rope Recycling|5,000|(5,000)|-| |RECOUP Conference 2024|30,436|(30,436)|-| |Lab Maintenance|3,659|(2,359)|1,300| |Beyondly LA Activation|20,000|-|20,000| |Beyondly Rstuff|15,000|-|15,000| |EPRO|100|-|100| ||160,599|(175,015)|(14,416)| |**TOTAL FUNDS**|1,490,463|(1,520,748)|(30,285)| Page 16 continued... **Recycling of Used Plastics Limited** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2025** ## **12. RELATED PARTY DISCLOSURES** The company paid £697,868 (2024: £822,129 ) to PPS Recovery Systems Ltd, a company in which Stuart Foster (CEO) has an interest in. The balance due to PPS Recovery Systems Ltd as at 31st December 2025 was £70,000 (2024: £19,873). These payments were in accordance with agreed budgets, were agreed by the Board of Trustees and were at an arms-length rate. Page 17 ## **Recycling of Used Plastics Limited** ## **Detailed Statement of Financial Activities for the Year Ended 31 December 2025** ||31/12/25|31/12/24| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Membership contributions|551,640|614,596| |Project income|140,316|109,573| |Conference|42,404|30,570| ||734,360|754,739| |**Investment income**||| |Interest receivable|356|1,008| |**Total incoming resources**|734,716|755,747| |**EXPENDITURE**||| |**Charitable activities**||| |Subscriptions|4,911|5,231| |Management costs|703,064|694,024| |IT expenses|880|3,629| |Equipment & consumables|832|1,034| |Conference costs|51,378|30,570| ||761,065|734,488| |**Other**||| |Bank charges|413|498| |Accountancy fees|3,500|3,065| |Advertising|8,438|4,002| |Insurance|3,505|1,774| ||15,856|9,339| |Total resources expended|776,921|743,827| |**Net (expenditure)/income**|(42,205)|11,920| This page does not form part of the statutory financial statements Page 18