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REGISTERED NUMBER: 06724273 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

K G Metals and Waste Limited

K G Metals and Waste Limited (Registered number: 06724273)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K G Metals and Waste Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: M K Perry
S P Perry





REGISTERED OFFICE: 17 Wickwar Road
Kingswood
Wotton under Edge
Gloucestershire
GL12 8RF





REGISTERED NUMBER: 06724273 (England and Wales)






K G Metals and Waste Limited (Registered number: 06724273)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 519,769 470,383
519,769 470,383

CURRENT ASSETS
Debtors 6 29,166 31,966
Cash at bank and in hand 106,812 200,523
135,978 232,489
CREDITORS
Amounts falling due within one year 7 62,698 87,799
NET CURRENT ASSETS 73,280 144,690
TOTAL ASSETS LESS CURRENT
LIABILITIES

593,049

615,073

PROVISIONS FOR LIABILITIES 98,756 89,373
NET ASSETS 494,293 525,700

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 494,291 525,698
SHAREHOLDERS' FUNDS 494,293 525,700

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

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

K G Metals and Waste Limited (Registered number: 06724273)

Balance Sheet - continued
31 October 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 30 July 2024 and were signed on its behalf by:





M K Perry - Director


K G Metals and Waste Limited (Registered number: 06724273)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

K G Metals and 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 2008, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery etc - 20% on reducing balance

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.

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.

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.

K G Metals and Waste Limited (Registered number: 06724273)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 100,000
AMORTISATION
At 1 November 2022
and 31 October 2023 100,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 1,230,986
Additions 252,852
Disposals (131,660 )
At 31 October 2023 1,352,178
DEPRECIATION
At 1 November 2022 760,603
Charge for year 130,052
Eliminated on disposal (58,246 )
At 31 October 2023 832,409
NET BOOK VALUE
At 31 October 2023 519,769
At 31 October 2022 470,383

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 29,166 31,966

K G Metals and Waste Limited (Registered number: 06724273)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 18,408 53,440
Taxation and social security 37,706 25,501
Other creditors 6,584 8,858
62,698 87,799