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REGISTERED NUMBER: 09881472 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

EASTFIELD RECYCLING LIMITED

EASTFIELD RECYCLING LIMITED (REGISTERED NUMBER: 09881472)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


EASTFIELD RECYCLING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs J Bridgwood
M J Bridgwood





REGISTERED OFFICE: Ground Floor
Custom House
Waterfront East
Brierley Hill
West Midlands
DY5 1XH





REGISTERED NUMBER: 09881472 (England and Wales)





ACCOUNTANTS: Poole Waterfield Limited
Ground Floor
Custom House
Waterfront East
Brierley Hill
West Midlands
DY5 1XH

EASTFIELD RECYCLING LIMITED (REGISTERED NUMBER: 09881472)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,618 -

CURRENT ASSETS
Stocks 398,868 222,528
Debtors 5 985,449 971,199
Cash at bank 32,651 236,698
1,416,968 1,430,425
CREDITORS
Amounts falling due within one year 6 487,364 336,832
NET CURRENT ASSETS 929,604 1,093,593
TOTAL ASSETS LESS CURRENT
LIABILITIES

952,222

1,093,593

CREDITORS
Amounts falling due after more than one
year

7

(93,000

)

(129,000

)

PROVISIONS FOR LIABILITIES (4,297 ) -
NET ASSETS 854,925 964,593

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 854,825 964,493
SHAREHOLDERS' FUNDS 854,925 964,593

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

EASTFIELD RECYCLING LIMITED (REGISTERED NUMBER: 09881472)

BALANCE SHEET - continued
31 MARCH 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 10 October 2023 and were signed on its behalf by:





Mrs J Bridgwood - Director


EASTFIELD RECYCLING LIMITED (REGISTERED NUMBER: 09881472)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Eastfield 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.

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.

The company ceased trading on 30th September 2023 and the trade/assets have been transferred to a related party. The financial statements have been prepared on a basis other than that of the going concern basis. Note 13 to the financial statements refers.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised when:

(a) the significant risks and rewards of ownership have passed to the buyer.
(b) the amount of revenue can be reliably measured.
(c) it is probable that the economic benefits associated with the transaction will flow
to the company.
(d) the costs incurred, or to be incurred, in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


EASTFIELD RECYCLING LIMITED (REGISTERED NUMBER: 09881472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 3,565 895 - 4,460
Additions 29,785 - 416 30,201
At 31 March 2023 33,350 895 416 34,661
DEPRECIATION
At 1 April 2022 3,565 895 - 4,460
Charge for year 7,446 - 137 7,583
At 31 March 2023 11,011 895 137 12,043
NET BOOK VALUE
At 31 March 2023 22,339 - 279 22,618
At 31 March 2022 - - - -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 731,788 537,839
Other debtors 253,661 433,360
985,449 971,199

EASTFIELD RECYCLING LIMITED (REGISTERED NUMBER: 09881472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loan 36,000 36,000
Trade creditors 116,265 3,980
Taxation and social security 191,156 291,252
Other creditors 143,943 5,600
487,364 336,832

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 93,000 129,000

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 129,000 165,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mrs J Bridgwood and M J Bridgwood
Balance outstanding at start of year 113,634 117,552
Amounts advanced 436,894 272,082
Amounts repaid (551,284 ) (276,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (756 ) 113,634

The amount due from the directors was unsecured and interest free.

EASTFIELD RECYCLING LIMITED (REGISTERED NUMBER: 09881472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. RELATED PARTY DISCLOSURES

Included in other debtors is an amount of £203,972 due from Wightwick Developments Limited a company, related through common directorship (2022 - £236,972). There were no sales or purchases.

Included in other creditors is an amount of £141,186 (2021- £40,200) due to/(due from) a related party, MetCat Limited. There were recharges and expenses totalling £225,051 (2021-£192,566) and sales of £1,089,391 (2021-£376,452). The companies are related by way of a family connection.

11. POST BALANCE SHEET EVENTS

On 30th September 2023 the company ceased to trade and transferred its assets to a related party, MetCat Limited. No adjustments have been made in the financial statements for any future costs or provisions relating to the termination of the business. No such costs were committed at 31st March 2023.