Registered number
11407730
Metalink Recycling Limited
Filleted Accounts
For the year ended 31 December 2023
Metalink Recycling Limited
Registered number: 11407730
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 39,773 49,549
Current assets
Debtors 4 3,495,412 2,302,627
Cash at bank and in hand 1,145,471 850,782
4,640,883 3,153,409
Creditors: amounts falling due within one year 5 (4,612,851) (3,111,771)
Net current assets 28,032 41,638
Total assets less current liabilities 67,805 91,187
Creditors: amounts falling due after more than one year 6 (29,054) (53,401)
Net assets 38,751 37,786
Capital and reserves
Called up share capital 100 100
Profit and loss account 38,651 37,686
Shareholders' funds 38,751 37,786
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr.Rupesh Bansal
Director
Approved by the board on 30 September 2024
Metalink Recycling Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer Equipment 20% Reducing balance
Motor vehicles 20% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 1
3 Tangible fixed assets
Computer Equipment Motor vehicles Total
£ £ £
Cost
At 1 January 2023 1,108 49,251 50,359
Additions 166 - 166
At 31 December 2023 1,274 49,251 50,525
Depreciation
At 1 January 2023 333 477 810
Charge for the year 92 9,850 9,942
At 31 December 2023 425 10,327 10,752
Net book value
At 31 December 2023 849 38,924 39,773
At 31 December 2022 775 48,774 49,549
4 Debtors 2023 2022
£ £
Trade debtors 2,860,916 1,854,953
Other taxes & social securities refund 52,823 111,132
Other debtors 581,673 336,542
3,495,412 2,302,627
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 13,348 13,348
Trade creditors 1,642,882 1,119,194
Taxation and social security costs 11,975 4,866
Other creditors 2,944,646 1,974,363
4,612,851 3,111,771
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 29,054 53,401
7 Other information
Metalink Recycling Limited is a private company limited by shares and incorporated in England. Its registered office is:
200 Brook Drive,
Green Park,
Reading,
England,
RG2 6UB
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