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
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
Abertawe Metal Recycling Limited
Statement of financial position
as at 31 October 2023
Tangible assets
518,854
601,386
Inventories
138,600
151,000
Cash at bank and in hand
63,041
22,422
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
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
Abertawe Metal Recycling Limited
Notes to the Accounts
for the year ended 31 October 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
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
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
Abertawe Metal Recycling Limited
Notes to the Accounts
for the year ended 31 October 2023
Amounts falling due within one year
Trade debtors
33,189
53,324
Accrued income and prepayments
7,519
18,018
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
Obligations under finance leases and hire purchase contracts
39,572
50,977
Trade creditors
51,529
58,204
Taxes and social security
-
2,486
Loans from directors
55,682
97,881
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
75,770
115,342
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).