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REGISTERED NUMBER: 06865444 (England and Wales)


Financial Statements for the Year Ended 31 March 2024

for

World Metal Recycling Limited

World Metal Recycling Limited (Registered number: 06865444)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


World Metal Recycling Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr Zia Fareed





REGISTERED OFFICE: Graphic House
308 Moseley Road
Levenshulme
Manchester
M19 2LH





REGISTERED NUMBER: 06865444 (England and Wales)





ACCOUNTANTS: Sterling Accounting Services Limited
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

World Metal Recycling Limited (Registered number: 06865444)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,391,220 2,352,690

CURRENT ASSETS
Stocks 26,290 4,256
Debtors 5 1,579,684 512,569
Cash at bank and in hand 214,034 117,073
1,820,008 633,898
CREDITORS
Amounts falling due within one year 6 1,438,296 522,020
NET CURRENT ASSETS 381,712 111,878
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,772,932

2,464,568

CREDITORS
Amounts falling due after more than one
year

7

839,310

887,186
NET ASSETS 1,933,622 1,577,382

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 518,860 518,860
Retained earnings 1,414,662 1,058,422
SHAREHOLDERS' FUNDS 1,933,622 1,577,382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

World Metal Recycling Limited (Registered number: 06865444)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 August 2024 and were signed by:





Mr Zia Fareed - Director


World Metal Recycling Limited (Registered number: 06865444)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

World Metal Recycling 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.

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 - 25% on reducing balance

Freehold property is stated at Market Value based on valuation report .

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 2,350,000 17,722 2,367,722
Additions - 52,270 52,270
At 31 March 2024 2,350,000 69,992 2,419,992
DEPRECIATION
At 1 April 2023 - 15,032 15,032
Charge for year - 13,740 13,740
At 31 March 2024 - 28,772 28,772
NET BOOK VALUE
At 31 March 2024 2,350,000 41,220 2,391,220
At 31 March 2023 2,350,000 2,690 2,352,690

World Metal Recycling Limited (Registered number: 06865444)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,298,968 194,879
Other debtors 280,716 317,690
1,579,684 512,569

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 1,319,977 425,783
Taxation and social security 108,182 94,941
Other creditors 10,137 1,296
1,438,296 522,020

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 839,310 887,186

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 518,860