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REGISTERED NUMBER: 04751015 (England and Wales)















Unaudited Financial Statements For The Year Ended 31st May 2023

for

Lucy & Martin (Recycling) Limited

Lucy & Martin (Recycling) Limited (Registered number: 04751015)






Contents of the Financial Statements
For The Year Ended 31st May 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Lucy & Martin (Recycling) Limited

Company Information
For The Year Ended 31st May 2023







DIRECTORS: G Martin
G T Martin
S C Martin
P Martin





REGISTERED OFFICE: 106 Charter Avenue
Ilford
Essex
IG2 7AD





REGISTERED NUMBER: 04751015 (England and Wales)





ACCOUNTANTS: Fredericks Limited
Chartered Accountants
106 Charter Avenue
Ilford
Essex
IG2 7AD

Lucy & Martin (Recycling) Limited (Registered number: 04751015)

Statement of Financial Position
31st May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 237,675 270,738
Investments 5 100 100
237,775 270,838

CURRENT ASSETS
Debtors 6 183,594 153,965
Cash at bank and in hand 148,797 40,968
332,391 194,933
CREDITORS
Amounts falling due within one year 7 190,366 124,752
NET CURRENT ASSETS 142,025 70,181
TOTAL ASSETS LESS CURRENT
LIABILITIES

379,800

341,019

CREDITORS
Amounts falling due after more than one
year

8

(400

)

(7,274

)

PROVISIONS FOR LIABILITIES (45,158 ) (51,300 )
NET ASSETS 334,242 282,445

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 334,142 282,345
SHAREHOLDERS' FUNDS 334,242 282,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

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
(b)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.

Lucy & Martin (Recycling) Limited (Registered number: 04751015)

Statement of Financial Position - continued
31st May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st August 2023 and were signed on its behalf by:




G Martin - Director



S C Martin - Director


Lucy & Martin (Recycling) Limited (Registered number: 04751015)

Notes to the Financial Statements
For The Year Ended 31st May 2023

1. STATUTORY INFORMATION

Lucy & Martin (Recycling) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Lucy & Martin (Recycling) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Lucy & Martin (Recycling) Limited (Registered number: 04751015)

Notes to the Financial Statements - continued
For The Year Ended 31st May 2023

2. ACCOUNTING POLICIES - continued

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.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st June 2022 205,941 537,274 743,215
Additions 891 33,000 33,891
Disposals - (52,000 ) (52,000 )
At 31st May 2023 206,832 518,274 725,106
DEPRECIATION
At 1st June 2022 155,286 317,191 472,477
Charge for year 7,732 28,867 36,599
Eliminated on disposal - (21,645 ) (21,645 )
At 31st May 2023 163,018 324,413 487,431
NET BOOK VALUE
At 31st May 2023 43,814 193,861 237,675
At 31st May 2022 50,655 220,083 270,738

Lucy & Martin (Recycling) Limited (Registered number: 04751015)

Notes to the Financial Statements - continued
For The Year Ended 31st May 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st June 2022
and 31st May 2023 192,450
DEPRECIATION
At 1st June 2022 101,669
Charge for year 9,078
At 31st May 2023 110,747
NET BOOK VALUE
At 31st May 2023 81,703
At 31st May 2022 90,781

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st June 2022
and 31st May 2023 100
NET BOOK VALUE
At 31st May 2023 100
At 31st May 2022 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 154,744 128,883
Other debtors 90 -
Prepayments 28,760 25,082
183,594 153,965

Lucy & Martin (Recycling) Limited (Registered number: 04751015)

Notes to the Financial Statements - continued
For The Year Ended 31st May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Hire purchase contracts 6,874 33,223
Trade creditors 37,491 31,860
Amounts owed to group undertakings 100 100
Tax 24,766 1,218
Social security and other taxes 61,920 40,487
Other creditors 2,801 2,466
Directors' loan accounts 44,956 5,956
Accrued expenses 11,458 9,442
190,366 124,752

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Preference shares 400 400
Hire purchase contracts - 6,874
400 7,274

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 400 400

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1.00 100 100

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year, total dividends of £15,925 (2022 - £22,295) were paid to the directors .

Throughout the year the company and its subsidiary was under the control of the company's directors.