Company Registration No. 09269451 (England and Wales)
Abertawe Metal Recycling Limited
Unaudited accounts
for the year ended 31 October 2017
Abertawe Metal Recycling Limited
Unaudited accounts
Contents
Abertawe Metal Recycling Limited
Statement of financial position
as at
31 October 2017
Tangible assets
196,198
194,862
Inventories
227,650
57,300
Cash at bank and in hand
15,527
1,238
Creditors: amounts falling due within one year
(272,394)
(40,583)
Net current assets
2,696
36,281
Total assets less current liabilities
198,894
231,143
Creditors: amounts falling due after more than one year
(186,437)
(228,323)
Called up share capital
3
3
Profit and loss account
12,454
2,817
Shareholders' funds
12,457
2,820
For the year ending 31 October 2017 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 director acknowledges his 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.
Approved by the Board on 31 July 2018.
R. Williams
Director
Company Registration No. 09269451
Abertawe Metal Recycling Limited
Notes to the Accounts
for the year ended 31 October 2017
Abertawe Metal Recycling Limited is a private company, limited by shares, registered in England and Wales, registration number 09269451. The registered office is 2 Glyndefaid Cottage, Ynysmond Road, Glais, Swansea, SA7 9JA, 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.
These financial statements for the year ended 31 October 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 November 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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 2017
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2016
204,653
26,263
1,424
232,340
Additions
18,753
25,700
-
44,453
Disposals
-
(4,763)
-
(4,763)
At 31 October 2017
223,406
47,200
1,424
272,030
At 1 November 2016
30,699
6,566
213
37,478
Charge for the year
28,907
10,456
182
39,545
On disposals
-
(1,191)
-
(1,191)
At 31 October 2017
59,606
15,831
395
75,832
At 31 October 2017
163,800
31,369
1,029
196,198
At 31 October 2016
173,954
19,697
1,211
194,862
Finished goods
223,150
57,300
Other debtors
31,913
18,326
7
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
49,226
6,525
Other creditors
170,429
34,013
Loans from directors
52,739
45
8
Creditors: amounts falling due after more than one year
2017
2016
Obligations under finance leases and hire purchase contracts
186,437
228,323
9
Share capital
2017
2016
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3
3
Abertawe Metal Recycling Limited
Notes to the Accounts
for the year ended 31 October 2017
10
Average number of employees
During the year the average number of employees was 7 (2016: 4).