Registered number
03652958
Container Recovery Services Ltd
Unaudited Filleted Accounts
31 October 2023
Container Recovery Services Ltd
Registered number: 03652958
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 655,259 673,525
Investments 4 64,691 64,691
719,950 738,216
Current assets
Debtors 5 152,228 149,243
Cash at bank and in hand 190,827 184,446
343,055 333,689
Creditors: amounts falling due within one year 6 (16,829) (15,632)
Net current assets 326,226 318,057
Total assets less current liabilities 1,046,176 1,056,273
Provisions for liabilities (202) (354)
Net assets 1,045,974 1,055,919
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 1,035,974 1,045,919
Shareholder's funds 1,045,974 1,055,919
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Sellars
Director
Approved by the board on 26 July 2024
Container Recovery Services Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 November 2022 895,585 18,902 914,487
At 31 October 2023 895,585 18,902 914,487
Depreciation
At 1 November 2022 223,476 17,486 240,962
Charge for the year 17,912 354 18,266
At 31 October 2023 241,388 17,840 259,228
Net book value
At 31 October 2023 654,197 1,062 655,259
At 31 October 2022 672,109 1,416 673,525
4 Investments
Other
investments
£
Cost
At 1 November 2022 64,691
At 31 October 2023 64,691
5 Debtors 2023 2022
£ £
Trade debtors 17,545 13,675
Other debtors 134,683 135,568
152,228 149,243
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 6,561 6,888
Taxation and social security costs 2,504 981
Other creditors 7,764 7,763
16,829 15,632
7 Controlling party
The company is controlled by the director.
8 Other information
Container Recovery Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
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