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Company Registration No. 09269451 (England and Wales)
Abertawe Metal Recycling Limited Unaudited accounts for the year ended 31 October 2023
Abertawe Metal Recycling Limited Unaudited accounts Contents
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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 2023
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 2023 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 30 July 2024
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Abertawe Metal Recycling Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
518,854 
601,386 
Current assets
Inventories
138,600 
151,000 
Debtors
54,760 
85,217 
Cash at bank and in hand
63,041 
22,422 
256,401 
258,639 
Creditors: amounts falling due within one year
(191,544)
(259,494)
Net current assets/(liabilities)
64,857 
(855)
Total assets less current liabilities
583,711 
600,531 
Creditors: amounts falling due after more than one year
(94,352)
(145,981)
Net assets
489,359 
454,550 
Capital and reserves
Called up share capital
6 
6 
Profit and loss account
489,353 
454,544 
Shareholders' funds
489,359 
454,550 
For the year ending 31 October 2023 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 30 July 2024 and were signed on its behalf by
R. Williams Director Company Registration No. 09269451
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Abertawe Metal Recycling Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 2022
794,798 
74,995 
7,162 
1,941 
878,896 
Additions
2,587 
13,000 
- 
116 
15,703 
At 31 October 2023
797,385 
87,995 
7,162 
2,057 
894,599 
Depreciation
At 1 November 2022
243,066 
31,286 
2,612 
546 
277,510 
Charge for the year
83,148 
14,178 
682 
227 
98,235 
At 31 October 2023
326,214 
45,464 
3,294 
773 
375,745 
Net book value
At 31 October 2023
471,171 
42,531 
3,868 
1,284 
518,854 
At 31 October 2022
551,732 
43,709 
4,550 
1,395 
601,386 
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Abertawe Metal Recycling Limited Notes to the Accounts for the year ended 31 October 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
4,052 
3,690 
Trade debtors
33,189 
53,324 
Accrued income and prepayments
7,519 
18,018 
Other debtors
- 
185 
44,760 
75,217 
Amounts falling due after more than one year
Other debtors
10,000 
10,000 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,970 
9,680 
VAT
27,819 
33,820 
Obligations under finance leases and hire purchase contracts
39,572 
50,977 
Trade creditors
51,529 
58,204 
Taxes and social security
- 
2,486 
Other creditors
2,053 
- 
Loans from directors
55,682 
97,881 
Accruals
3,919 
6,446 
191,544 
259,494 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
18,582 
30,639 
Obligations under finance leases and hire purchase contracts
75,770 
115,342 
94,352 
145,981 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
6 Ordinary shares of £1 each
6 
6 
9
Average number of employees
During the year the average number of employees was 11 (2022: 12).
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