Company Registration No. 09269451 (England and Wales)
Abertawe Metal Recycling Limited
Unaudited accounts
for the year ended 31 October 2019
Abertawe Metal Recycling Limited
Unaudited accounts
Contents
Abertawe Metal Recycling Limited
Statement of financial position
as at
31 October 2019
Tangible assets
292,404
311,252
Inventories
293,639
282,535
Cash at bank and in hand
51
16,684
Creditors: amounts falling due within one year
(464,385)
(412,759)
Net current liabilities
(140,586)
(98,220)
Total assets less current liabilities
151,818
213,032
Creditors: amounts falling due after more than one year
(120,105)
(184,658)
Called up share capital
3
3
Profit and loss account
31,710
28,371
Shareholders' funds
31,713
28,374
For the year ending 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2020 and were signed on its behalf by
R. Williams
Director
Company Registration No. 09269451
Abertawe Metal Recycling Limited
Notes to the Accounts
for the year ended 31 October 2019
Abertawe Metal Recycling Limited is a private company, limited by shares, registered in England and Wales, registration number 09269451. The registered office is Dyffryn Close, Swansea Enterprise Park, Swansea, wales, SA6 8QG, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Amount calculated to write off the assets over useful lifetime
Motor vehicles
Amount calculated to write off the assets over useful lifetime
Fixtures & fittings
Amount calculated to write off the assets over useful lifetime
Abertawe Metal Recycling Limited
Notes to the Accounts
for the year ended 31 October 2019
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 November 2018
384,594
47,200
1,424
1,385
434,603
Additions
21,239
-
-
100
21,339
Disposals
-
-
-
(1,385)
(1,385)
At 31 October 2019
405,833
47,200
1,424
100
454,557
At 1 November 2018
98,921
23,674
549
207
123,351
Charge for the year
34,491
4,382
131
5
39,009
On disposals
-
-
-
(207)
(207)
At 31 October 2019
133,412
28,056
680
5
162,153
At 31 October 2019
272,421
19,144
744
95
292,404
At 31 October 2018
285,673
23,526
875
1,178
311,252
Work in progress
5,539
4,885
Finished goods
288,100
277,650
Trade debtors
12,944
5,200
Accrued income and prepayments
7,165
120
Other debtors
10,000
10,000
7
Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
11,737
8,454
Obligations under finance leases and hire purchase contracts
89,087
94,847
Trade creditors
70,993
27,109
Taxes and social security
92,480
182,010
Loans from directors
191,975
86,559
8
Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
120,105
184,658
Abertawe Metal Recycling Limited
Notes to the Accounts
for the year ended 31 October 2019
9
Share capital
2019
2018
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3
3
10
Average number of employees
During the year the average number of employees was 10 (2018: 9).