Registered number: 05776750 | ||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||
Prepared By: | ||||||||
Greenhalgh Johnson Ltd | ||||||||
Accountants and Tax Advisers | ||||||||
22 High Street | ||||||||
Burgh le Marsh | ||||||||
Skegness | ||||||||
Lincolnshire | ||||||||
PE24 5JT |
Russell Taylor Recycling Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Lincolnshire | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 05776750 | ||||||||
BANKERS | ||||||||
Lloyds Bank plc | ||||||||
ACCOUNTANTS | ||||||||
Greenhalgh Johnson Ltd | ||||||||
Accountants and Tax Advisers | ||||||||
22 High Street | ||||||||
Burgh le Marsh | ||||||||
Skegness | ||||||||
Lincolnshire | ||||||||
PE24 5JT |
Russell Taylor Recycling Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/03/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Russell Taylor Recycling Ltd | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
20,685 | 28,303 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT ASSETS / (LIABILITIES) | (3,639) | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 7 | 11,093 | 20,738 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 8 | |||||||||
NET ASSETS / (LIABILITIES) | ( | |||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 9 | |||||||||
Profit and loss account | 3,476 | (4,007) | ||||||||
SHAREHOLDERS' FUNDS | ( | |||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Russell Taylor Recycling Ltd | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Going Concern |
1c. Depreciation | ||||||||
Plant and Machinery | reducing balance 25% | |||||||
Motor Cars | reducing balance 25% |
1d. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1e. Government Grants | ||||||||
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. |
1f. |
Russell Taylor Recycling Ltd | ||||||||
2. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 2 | |||||
3. TANGIBLE FIXED ASSETS | ||||||
Plant and | ||||||
Machinery | Motor Cars | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 01/04/2023 | 63,881 | 3,350 | 67,231 | |||
At 31/03/2024 | 63,881 | 3,350 | 67,231 | |||
Depreciation | ||||||
At 01/04/2023 | 42,947 | 1,775 | 44,722 | |||
For the year | 5,236 | 394 | 5,630 | |||
At 31/03/2024 | 48,183 | 2,169 | 50,352 | |||
Net Book Amounts | ||||||
At 31/03/2024 | 16,879 | |||||
At 31/03/2023 | 22,509 | |||||
4. STOCK | 2024 | 2023 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
5. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Prepayments | 2,907 | 4,459 | ||||||
2,907 | 4,459 | |||||||
Russell Taylor Recycling Ltd | ||||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | 862 | - | ||||||
VAT | 4,419 | 7,000 | ||||||
Directors current account - R Taylor | 277 | 3,321 | ||||||
Directors current account - J Taylor | 2,176 | 7,000 | ||||||
Bank Loan | 9,611 | 9,381 | ||||||
Accruals | 2,343 | 5,240 | ||||||
19,688 | 31,942 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Bank loans (unsecured) >1yr | 11,093 | 20,738 | ||||||
11,093 | 20,738 | |||||||
8. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
£ | £ | |||||||
Deferred taxation | 3,207 | 2,039 | ||||||
3,207 | 2,039 | |||||||
9. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||
Russell Taylor Recycling Ltd | ||||||||
10. LEASING COMMITMENTS | ||||||||
The company has minimum lease payments due under non-cancellable operating leases as noted below. | ||||||||
The current lease rent is £14,400 per annum. | ||||||||
2022 | 2021 | |||||||
£ | £ | |||||||
Within one year | 14,400 | 14,400 | ||||||
Between one and five years | 28,800 | |||||||
In more than five years | ||||||||
43,200 | 14,400 |