Registered number
08076262
Recycled Aggregates Limited
Filleted Accounts
30 November 2023
Recycled Aggregates Limited
Registered number: 08076262
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 316,640 341,028
Current assets
Debtors 4 537,821 673,782
Cash at bank and in hand 130,210 75,463
668,031 749,245
Creditors: amounts falling due within one year 5 (592,099) (623,937)
Net current assets 75,932 125,308
Total assets less current liabilities 392,572 466,336
Creditors: amounts falling due after more than one year 6 (282,542) (334,434)
Provisions for liabilities (57,574) (62,293)
Net assets 52,456 69,609
Capital and reserves
Called up share capital 100 100
Profit and loss account 52,356 69,509
Shareholder's funds 52,456 69,609
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.
Mr. P. Hughes
Director
Approved by the board on 8 August 2024
Recycled Aggregates Limited
Notes to the Accounts
for the year ended 30 November 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 represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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:
Plant and machinery 20% straight line
Motor Vehicles 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 32,000 454,318 322,955 809,273
Additions - 179,550 2,500 182,050
Disposals - (156,083) (179,457) (335,540)
At 30 November 2023 32,000 477,785 145,998 655,783
Depreciation
At 1 December 2022 32,000 310,784 125,461 468,245
Charge for the year - 48,829 34,662 83,491
On disposals - (118,820) (93,773) (212,593)
At 30 November 2023 32,000 240,793 66,350 339,143
Net book value
At 30 November 2023 - 236,992 79,648 316,640
At 30 November 2022 - 143,534 197,494 341,028
4 Debtors 2023 2022
£ £
Trade debtors 288,969 378,351
Amounts owed by related parties 147,852 147,431
Other debtors 101,000 148,000
537,821 673,782
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 60,000 60,000
Obligations under finance lease and hire purchase contracts 95,394 129,428
Trade creditors 207,960 200,118
Taxation and social security costs 222,348 228,390
Other creditors 6,397 6,001
592,099 623,937
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 129,477 197,135
Obligations under finance lease and hire purchase contracts 153,065 137,299
282,542 334,434
7 Share capital Nominal 2023 2023 2022
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr. P. Hughes
Directors Loans 145,000 - (45,000) 100,000
145,000 - (45,000) 100,000
9 Related party transactions
The company has made an interest - free loan to PI Carbon Composites Limited, a company in which the director is a shareholder.
10 Controlling party
The company is controlled by the director, Mr. P. Hughes.
11 Other information
Recycled Aggregates Limited is a private company limited by shares and incorporated in England. Its registered office is:
First Floor, 1 Park Court,
Pyrford Road,
West Byfleet,
Surrey,
KT14 6SD.
Its place of business is:
Axis Point,
Eastman Way,
Hemel Hempstead,
Herts. HP2 7FN.
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