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REGISTERED NUMBER: 05531792 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

A & L Vehicle Recycling Limited

A & L Vehicle Recycling Limited (Registered number: 05531792)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A & L Vehicle Recycling Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Mr A A Brown
Mr L W Peacock





SECRETARY: Mr A A Brown





REGISTERED OFFICE: Adeilad St David's Building
Stryd Lombard Street
Portmadog
Gwynedd
LL49 9AP





REGISTERED NUMBER: 05531792 (England and Wales)





ACCOUNTANTS: Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP

A & L Vehicle Recycling Limited (Registered number: 05531792)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,571 1,886
Tangible assets 5 88,515 89,495
90,086 91,381

CURRENT ASSETS
Stocks 50,000 50,000
Debtors 6 77,893 48,619
Cash at bank 18,032 98,079
145,925 196,698
CREDITORS
Amounts falling due within one year 7 219,730 241,734
NET CURRENT LIABILITIES (73,805 ) (45,036 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,281

46,345

CREDITORS
Amounts falling due after more than one
year

8

(19,541

)

(29,289

)

PROVISIONS FOR LIABILITIES (16,580 ) (16,922 )
NET (LIABILITIES)/ASSETS (19,840 ) 134

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (19,940 ) 34
(19,840 ) 134

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

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

A & L Vehicle Recycling Limited (Registered number: 05531792)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





Mr A A Brown - Director


A & L Vehicle Recycling Limited (Registered number: 05531792)

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

1. STATUTORY INFORMATION

A & L Vehicle 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.

The directors have considered the basis for the preparation of the financial statements and consider the going concern basis to be the most suitable. The directors will continue to give financial support to the company for twelve months from the date of signing these financial statements. Therefore, the accounts have been prepared on the assumption that the company is thus able to carry on its business as a going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Website costs is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery - 10% reducing balance
Computer equipment - 20% reducing balance

Fixed assets are stated at their cost prices, less accumulated depreciation and less amounts recognised in respect of impairment.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


A & L Vehicle Recycling Limited (Registered number: 05531792)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2022
and 31 August 2023 3,143
AMORTISATION
At 1 September 2022 1,257
Charge for year 315
At 31 August 2023 1,572
NET BOOK VALUE
At 31 August 2023 1,571
At 31 August 2022 1,886

A & L Vehicle Recycling Limited (Registered number: 05531792)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 229,508
Additions 9,134
At 31 August 2023 238,642
DEPRECIATION
At 1 September 2022 140,013
Charge for year 10,114
At 31 August 2023 150,127
NET BOOK VALUE
At 31 August 2023 88,515
At 31 August 2022 89,495

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 71,139 41,819
Other debtors 6,754 6,800
77,893 48,619

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 9,748 9,457
Trade creditors 32,321 24,141
Taxation and social security 47,584 47,534
Other creditors 130,077 160,602
219,730 241,734

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Other creditors 19,541 29,289

A & L Vehicle Recycling Limited (Registered number: 05531792)

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

9. RELATED PARTY DISCLOSURES

The directors' loan accounts were in credit throughout the year to 31st August 2022 and this did not change in the year to 31st August 2023. By the year-end, the following balances were owing to the following directors:

Mr A A Brown - £33,797 (2022 - £50,624)
Mr L W Peacock - £54,089 (2022 - £68,159)

No dividends were paid to the directors during the year (2022 - £2,400).