Sheet of paper from loo, if recycled (5)
I believe the answer is:
folio
'sheet of paper' is the definition.
(folio is a kind of sheet of paper)
'loo if recycled' is the wordplay.
'recycled' is an anagram indicator.
'loo'+'if'='looif'
'looif' is an anagram of 'FOLIO'.
'from' acts as a link.
(Other definitions for folio that I've seen before include "outsize book" , "Book size" , "Sheet folded to form two leaves in book - page number" , "large book" , "Folded sheet - or book made from such" .)