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REGISTERED NUMBER: 05215639 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

IG METAL RECYCLING LIMITED

IG METAL RECYCLING LIMITED (REGISTERED NUMBER: 05215639)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IG METAL RECYCLING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr A Rakheja
Mr P S Koranga
Ms R Kabad
Ms N C Mehta





REGISTERED OFFICE: 1 Doughty Street
London
WC1N 2PH





REGISTERED NUMBER: 05215639 (England and Wales)






IG METAL RECYCLING LIMITED (REGISTERED NUMBER: 05215639)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,635 39,422

CURRENT ASSETS
Stocks 162,747 -
Debtors 5 306,832 1,490,062
Cash at bank and in hand 377,866 242,903
847,445 1,732,965
CREDITORS
Amounts falling due within one year 6 782,128 1,653,434
NET CURRENT ASSETS 65,317 79,531
TOTAL ASSETS LESS CURRENT
LIABILITIES

101,952

118,953

CAPITAL AND RESERVES
Called up share capital 7 10,000 10,000
Retained earnings 91,952 108,953
SHAREHOLDERS' FUNDS 101,952 118,953

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

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

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 28th August 2024 and were signed on its behalf by:





Mr A Rakheja - Director


IG METAL RECYCLING LIMITED (REGISTERED NUMBER: 05215639)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

IG Metal Recycling Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 05215639 and registered office address is 1 Doughty Street, London, WC1N 2PH.

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 represents sales of goods net of VAT. Turnover is recognised when the container of goods is sealed at the yard. The company earned commission income from sale of scrap metal for exports. This is included in '' Other Operating Income''.

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 - 20% on cost

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023 206,767
Additions 21,041
Disposals (17,368 )
At 31st December 2023 210,440
DEPRECIATION
At 1st January 2023 167,345
Charge for year 23,828
Eliminated on disposal (17,368 )
At 31st December 2023 173,805
NET BOOK VALUE
At 31st December 2023 36,635
At 31st December 2022 39,422

IG METAL RECYCLING LIMITED (REGISTERED NUMBER: 05215639)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 67,833 1,219,630
Other debtors 238,999 270,432
306,832 1,490,062

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 552,000 1,407,294
Taxation and social security 14,483 30,227
Other creditors 215,645 215,913
782,128 1,653,434

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the shareholders.