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REGISTERED NUMBER: 08917485 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

MAGPIE METAL & WASTE LIMITED

MAGPIE METAL & WASTE LIMITED (REGISTERED NUMBER: 08917485)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAGPIE METAL & WASTE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Mr K D Gale
Mrs J L Gale





REGISTERED OFFICE: 89 Gloucester Road
Patchway
Bristol
BS34 5JQ





REGISTERED NUMBER: 08917485 (England and Wales)





ACCOUNTANTS: Keller & Co
367b Church Road
Frampton Cotterell
Bristol
BS36 2AQ

MAGPIE METAL & WASTE LIMITED (REGISTERED NUMBER: 08917485)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 128,128 160,608
128,128 160,608

CURRENT ASSETS
Stocks 95,333 82,042
Debtors 6 187,566 227,104
Cash at bank 6,055 15,176
288,954 324,322
CREDITORS
Amounts falling due within one year 7 (321,533 ) (290,344 )
NET CURRENT (LIABILITIES)/ASSETS (32,579 ) 33,978
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,549

194,586

CREDITORS
Amounts falling due after more than one
year

8

(70,032

)

(107,549

)

PROVISIONS FOR LIABILITIES (24,344 ) (30,515 )
NET ASSETS 1,173 56,522

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,073 56,422
SHAREHOLDERS' FUNDS 1,173 56,522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

MAGPIE METAL & WASTE LIMITED (REGISTERED NUMBER: 08917485)

BALANCE SHEET - continued
28 FEBRUARY 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 29 November 2023 and were signed on its behalf by:




Mr K D Gale - Director



Mrs J L Gale - Director


MAGPIE METAL & WASTE LIMITED (REGISTERED NUMBER: 08917485)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Magpie Metal & Waste 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

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.

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.

MAGPIE METAL & WASTE LIMITED (REGISTERED NUMBER: 08917485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 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 5 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 10,000
AMORTISATION
At 1 March 2022
and 28 February 2023 10,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

MAGPIE METAL & WASTE LIMITED (REGISTERED NUMBER: 08917485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 209,697 13,558 139,704 917 363,876
Additions 9,500 - - - 9,500
Disposals (4,900 ) - - - (4,900 )
At 28 February 2023 214,297 13,558 139,704 917 368,476
DEPRECIATION
At 1 March 2022 132,052 3,558 66,741 917 203,268
Charge for year 21,635 1,500 18,241 - 41,376
Eliminated on disposal (4,296 ) - - - (4,296 )
At 28 February 2023 149,391 5,058 84,982 917 240,348
NET BOOK VALUE
At 28 February 2023 64,906 8,500 54,722 - 128,128
At 28 February 2022 77,645 10,000 72,963 - 160,608

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2022
and 28 February 2023 106,000 85,204 191,204
DEPRECIATION
At 1 March 2022 52,423 23,839 76,262
Charge for year 13,394 15,341 28,735
At 28 February 2023 65,817 39,180 104,997
NET BOOK VALUE
At 28 February 2023 40,183 46,024 86,207
At 28 February 2022 53,577 61,365 114,942

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 178,986 217,933
Other debtors 8,580 9,171
187,566 227,104

MAGPIE METAL & WASTE LIMITED (REGISTERED NUMBER: 08917485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 27,517 27,517
Trade creditors 33,682 12,345
Taxation and social security 80,041 103,418
Other creditors 170,293 137,064
321,533 290,344

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,500 32,500
Hire purchase contracts 47,532 75,049
70,032 107,549

9. OTHER FINANCIAL COMMITMENTS

The company had total commitments at the balance sheet date of £64,720.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £40,000 (2022 - £45,000) were paid to the directors .