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REGISTERED NUMBER: 03165703 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 November 2023

for

CLASSIC RECLAIMS LIMITED

CLASSIC RECLAIMS LIMITED (REGISTERED NUMBER: 03165703)






Contents of the Financial Statements
for the year ended 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLASSIC RECLAIMS LIMITED

Company Information
for the year ended 30 NOVEMBER 2023







DIRECTORS: P K Holmes
N K Holmes





SECRETARY: P K Holmes





REGISTERED OFFICE: 155 Wellingborough Road
RUSHDEN
Northamptonshire
NN10 9TB





REGISTERED NUMBER: 03165703 (England and Wales)





ACCOUNTANTS: Elsby & Co
Thistledown Barn
Holcot Lane
Sywell
Northampton
Northamptonshire
NN6 0BG

CLASSIC RECLAIMS LIMITED (REGISTERED NUMBER: 03165703)

Balance Sheet
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 778 944
778 944

CURRENT ASSETS
Stocks 21,337 37,151
Debtors 6 836 3,030
Cash at bank 2,042 7,829
24,215 48,010
CREDITORS
Amounts falling due within one year 7 62,358 61,269
NET CURRENT LIABILITIES (38,143 ) (13,259 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(37,365

)

(12,315

)

PROVISIONS FOR LIABILITIES 219 219
NET LIABILITIES (37,584 ) (12,534 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (37,684 ) (12,634 )
SHAREHOLDERS' FUNDS (37,584 ) (12,534 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

CLASSIC RECLAIMS LIMITED (REGISTERED NUMBER: 03165703)

Balance Sheet - continued
30 NOVEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2024 and were signed on its behalf by:





P K Holmes - Director


CLASSIC RECLAIMS LIMITED (REGISTERED NUMBER: 03165703)

Notes to the Financial Statements
for the year ended 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Classic Reclaims 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 has been fully amortized and written off over its useful life.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 40% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing
stock to its present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

CLASSIC RECLAIMS LIMITED (REGISTERED NUMBER: 03165703)

Notes to the Financial Statements - continued
for the year ended 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The accounting period was affected by the Coronavirus pandemic which has affected businesses worldwide. At the date of signing the company has continued trading. However, the virus continues to have a major effect on UK society, as well as the ability of businesses to trade normally.

Based on the review, the directors have a reasonable expectation that the company and the group have adequate resources to continue in operational existence for the foreseeable future. Therefore they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 120,000
AMORTISATION
At 1 December 2022
and 30 November 2023 120,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

CLASSIC RECLAIMS LIMITED (REGISTERED NUMBER: 03165703)

Notes to the Financial Statements - continued
for the year ended 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022
and 30 November 2023 20,407 375 6,047 3,994 30,823
DEPRECIATION
At 1 December 2022 19,656 217 6,047 3,959 29,879
Charge for year 112 40 - 14 166
At 30 November 2023 19,768 257 6,047 3,973 30,045
NET BOOK VALUE
At 30 November 2023 639 118 - 21 778
At 30 November 2022 751 158 - 35 944

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 283 2,400
Other debtors 553 630
836 3,030

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 8,871 5,090
Other creditors 53,487 56,179
62,358 61,269

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100