Company Registration No. 07996583 (England and Wales)
EGAP RECYCLING LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2015
EGAP RECYCLING LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
EGAP RECYCLING LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EGAP RECYCLING LIMITED FOR THE YEAR ENDED 30 APRIL 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of EGAP Recycling Limited for the year ended 30 April 2015 set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of EGAP Recycling Limited, as a body, in accordance with the terms of our engagement letter dated 29 August 2012. Our work has been undertaken solely to prepare for your approval the financial statements of EGAP Recycling Limited and state those matters that we have agreed to state to the Board of Directors of EGAP Recycling Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than EGAP Recycling Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that EGAP Recycling Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of EGAP Recycling Limited. You consider that EGAP Recycling Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of EGAP Recycling Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Clarkson Hyde LLP
28 January 2016
Chartered Accountants
3rd Floor
Chancery House
St Nicholas Way
Sutton
Surrey
SM1 1JB
EGAP RECYCLING LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2015
30 April 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
562,732
369,330
Current assets
Stocks
5,000
5,000
Debtors
274,167
211,040
Cash at bank and in hand
43,225
46,526
322,392
262,566
Creditors: amounts falling due within one year
(537,707)
(463,097)
Net current liabilities
(215,315)
(200,531)
Total assets less current liabilities
347,417
168,799
Creditors: amounts falling due after more than one year
(96,858)
(91,019)
Provisions for liabilities
(73,947)
(44,410)
176,612
33,370
Capital and reserves
Called up share capital
3
100
2
Profit and loss account
176,512
33,368
Shareholders' funds
176,612
33,370
For the financial year ended 30 April 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 January 2016
Mr S Page
Director
Company Registration No. 07996583
EGAP RECYCLING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% Reducing Balance
Fixtures, fittings & equipment
25% Reducing Balance
Motor vehicles
25% Reducing Balance
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 May 2014
17,500
531,232
548,732
Additions
-
479,600
479,600
Disposals
(17,500)
(148,589)
(166,089)
At 30 April 2015
-
862,243
862,243
Depreciation
At 1 May 2014
17,500
161,902
179,402
On disposals
(17,500)
(67,274)
(84,774)
Charge for the year
-
204,883
204,883
At 30 April 2015
-
299,511
299,511
Net book value
At 30 April 2015
-
562,732
562,732
At 30 April 2014
-
369,330
369,330
EGAP RECYCLING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2015
- 4 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
75 Ordinary shares of £1 each
75
2
25 Ordinary A shares of £1 each
25
-
100
2