REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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JMC RECYCLING SYSTEMS LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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FOR |
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JMC RECYCLING SYSTEMS LIMITED |
JMC RECYCLING SYSTEMS LIMITED (REGISTERED NUMBER: 04455599) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
JMC RECYCLING SYSTEMS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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JMC RECYCLING SYSTEMS LIMITED (REGISTERED NUMBER: 04455599) |
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ABBREVIATED BALANCE SHEET |
30 SEPTEMBER 2016 |
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2016 | 2015 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 3 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 3 | ( |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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 |
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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. |
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The financial statements were approved by the Board of Directors on
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JMC RECYCLING SYSTEMS LIMITED (REGISTERED NUMBER: 04455599) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting |
Standard for Smaller Entities (effective January 2015). |
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The effect of events relating to the period ended 30 September 2016 which occurred before the date of approval of the financial |
statements by the Board of Directors, have been included in the statements to the extent required to show a true and fair view of |
the state of affairs at the period end and of the results for the period ended on that date. |
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Revenue recognition |
Revenue is measured at the fair value of the consideration received or receivable net of VAT trade discounts and customer |
returns. |
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Interest income |
Interest income is accrued on a time basis, by reference to the principal outstanding and at the interest rate applicable. |
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Rental income |
Rental income is accrued on a time basis, by reference to the agreements entered. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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No depreciation is charged on freehold property on the grounds that it would be immaterial because the estimated residual value is |
not materially different from the carrying value. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire |
purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their |
estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of |
the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
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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 the profit and loss account in the period to which they relate. |
JMC RECYCLING SYSTEMS LIMITED (REGISTERED NUMBER: 04455599) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 October 2015 |
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Additions |
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At 30 September 2016 |
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DEPRECIATION |
At 1 October 2015 |
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Charge for year |
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At 30 September 2016 |
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NET BOOK VALUE |
At 30 September 2016 |
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At 30 September 2015 |
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3. | CREDITORS |
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Creditors include an amount of £ 1,231,810 (2015 - £ 996,943 ) for which security has been given. |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary A | £1 |
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Ordinary B | £1 |
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Ordinary C | £1 |
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Ordinary D | £1 |
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2 | Ordinary E | £1 | 2 | 2 |
10 | 10 |
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Allotted and issued: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 September 2016 and 30 September 2015: |
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2016 | 2015 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Balance outstanding at end of year |
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The directors, P R Pownall and Mrs S J Johnson, have given a personal guarantee to the bank up to £20,000 each. |