Company Registration No. 09269451 (England and Wales)
Abertawe Metal Recycling Limited
Unaudited accounts
for the year ended 31 October 2021
Abertawe Metal Recycling Limited
Unaudited accounts
Contents
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Abertawe Metal Recycling Limited for the year ended 31 October 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Abertawe Metal Recycling Limited for the year ended
31 October 2021 as set out on pages
4 -
6 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Abertawe Metal Recycling Limited, as a body, in accordance with the terms of our engagement letter dated 10 May 2018. Our work has been undertaken solely to prepare for your approval the accounts of Abertawe Metal Recycling Limited and state those matters that we have agreed to state to the Board of Directors of Abertawe Metal Recycling Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abertawe Metal Recycling Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Abertawe Metal Recycling Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Abertawe Metal Recycling Limited. You consider that Abertawe Metal 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 accounts of Abertawe Metal 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 accounts.
M J Hazel & Co
Chartered Accountants
30 Brookfield
Neath
Neath PT
SA10 7EH
25 July 2022
Abertawe Metal Recycling Limited
Statement of financial position
as at
31 October 2021
Tangible assets
403,135
277,162
Inventories
183,100
286,015
Cash at bank and in hand
191,390
27,133
Creditors: amounts falling due within one year
(516,419)
(558,642)
Net current liabilities
(65,235)
(200,627)
Total assets less current liabilities
337,900
76,535
Creditors: amounts falling due after more than one year
(26,597)
(75,236)
Called up share capital
5
3
Profit and loss account
311,298
1,296
Shareholders' funds
311,303
1,299
For the year ending 31 October 2021 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 25 July 2022 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 2021
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
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 2020
434,933
47,200
3,175
1,499
486,807
Additions
186,800
30,495
3,987
60
221,342
Disposals
(66,085)
(25,700)
-
-
(91,785)
At 31 October 2021
555,648
51,995
7,162
1,559
616,364
At 1 November 2020
175,861
32,843
863
78
209,645
Charge for the year
52,834
5,492
946
222
59,494
On disposals
(39,091)
(16,819)
-
-
(55,910)
At 31 October 2021
189,604
21,516
1,809
300
213,229
At 31 October 2021
366,044
30,479
5,353
1,259
403,135
At 31 October 2020
259,072
14,357
2,312
1,421
277,162
Abertawe Metal Recycling Limited
Notes to the Accounts
for the year ended 31 October 2021
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
43,052
25,163
Accrued income and prepayments
14,723
6,161
Other debtors
8,919
3,543
Debtors: amounts falling due after more than one year
Other debtors
10,000
10,000
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
50,000
50,000
Obligations under finance leases and hire purchase contracts
47,734
65,179
Trade creditors
43,358
64,190
Taxes and social security
13,719
37,679
Other creditors
144,900
-
Loans from directors
211,083
339,229
7
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
26,597
75,236
8
Share capital
2021
2020
Allotted, called up and fully paid:
5 Ordinary shares of £1 each
5
3
Shares issued during the period:
2 Ordinary shares of £1 each
2
9
Average number of employees
During the year the average number of employees was 12 (2020: 11).