1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-11-16 Sage Accounts Production Advanced 2023 - FRS102_2023 1,400 1,400 350 350 1,050 xbrli:pure xbrli:shares iso4217:GBP 14489194 2022-11-16 2023-11-30 14489194 2023-11-30 14489194 2022-11-15 14489194 core:MotorVehicles 2022-11-16 2023-11-30 14489194 bus:OrdinaryShareClass1 2022-11-16 2023-11-30 14489194 bus:Director1 2022-11-16 2023-11-30 14489194 core:MotorVehicles 2023-11-30 14489194 core:WithinOneYear 2023-11-30 14489194 core:ShareCapital 2023-11-30 14489194 core:RetainedEarningsAccumulatedLosses 2023-11-30 14489194 bus:OrdinaryShareClass1 2023-11-30 14489194 bus:SmallEntities 2022-11-16 2023-11-30 14489194 bus:AuditExemptWithAccountantsReport 2022-11-16 2023-11-30 14489194 bus:SmallCompaniesRegimeForAccounts 2022-11-16 2023-11-30 14489194 bus:PrivateLimitedCompanyLtd 2022-11-16 2023-11-30 14489194 bus:FullAccounts 2022-11-16 2023-11-30
COMPANY REGISTRATION NUMBER: 14489194
Cardigan Metal Recycling Ltd
Filleted Unaudited Financial Statements
30 November 2023
Cardigan Metal Recycling Ltd
Financial Statements
Period from 16 November 2022 to 30 November 2023
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 4
Cardigan Metal Recycling Ltd
Statement of Financial Position
30 November 2023
30 Nov 23
Note
£
Fixed assets
Tangible assets
5
1,050
Current assets
Debtors
6
971
Cash at bank and in hand
7,979
-------
8,950
Creditors: amounts falling due within one year
7
( 14,905)
--------
Net current liabilities
( 5,955)
-------
Total assets less current liabilities
( 4,905)
-------
Capital and reserves
Called up share capital
8
1
Profit and loss account
( 4,906)
-------
Shareholders deficit
( 4,905)
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 August 2024 , and are signed on behalf of the board by:
Mr S C Perfect
Director
Company registration number: 14489194
Cardigan Metal Recycling Ltd
Notes to the Financial Statements
Period from 16 November 2022 to 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hamilton House, Hamilton Terrace, Milford Haven, Pembrokeshire, SA73 3JP.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director has a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the director continues to adopt the going concern basis of accounting in preparing the annual financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 .
5. Tangible assets
Motor vehicles
£
Cost
At 16 November 2022
Additions
1,400
-------
At 30 November 2023
1,400
-------
Depreciation
At 16 November 2022
Charge for the period
350
-------
At 30 November 2023
350
-------
Carrying amount
At 30 November 2023
1,050
-------
6. Debtors
30 Nov 23
£
Trade debtors
971
----
7. Creditors: amounts falling due within one year
30 Nov 23
£
Social security and other taxes
9,474
Other creditors
5,431
--------
14,905
--------
8. Called up share capital
Issued, called up and fully paid
30 Nov 23
No.
£
Ordinary shares of £ 1 each
1
1
----
----
Share movements
No.
£
Ordinary
At 16 November 2022
Issue of shares
1
1
----
----
At 30 November 2023
1
1
----
----
9. Related party transactions
The company was under the control of Mr S C Perfect throughout the current period. Mr S C Perfect is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.