Company registration number 07077254 (England and Wales)
MONMORE RECYCLING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
MONMORE RECYCLING LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
MONMORE RECYCLING LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
180,735
233,035
Current assets
Stocks
21,000
20,000
Debtors
5
542,807
435,204
Cash at bank and in hand
1,260,782
1,132,544
1,824,589
1,587,748
Creditors: amounts falling due within one year
6
(347,285)
(470,377)
Net current assets
1,477,304
1,117,371
Total assets less current liabilities
1,658,039
1,350,406
Provisions for liabilities
(45,184)
(58,259)
Net assets
1,612,855
1,292,147
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
1,612,854
1,292,146
Total equity
1,612,855
1,292,147

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 5 August 2024 and are signed on its behalf by:
Mr S Hill
Director
Company registration number 07077254 (England and Wales)
MONMORE RECYCLING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2022
1
1,106,446
1,106,447
Year ended 31 March 2023:
Profit and total comprehensive income
-
225,700
225,700
Dividends
-
(40,000)
(40,000)
Balance at 31 March 2023
1
1,292,146
1,292,147
Period ended 31 March 2024:
Profit and total comprehensive income
-
360,058
360,058
Dividends
-
(39,350)
(39,350)
Balance at 31 March 2024
1
1,612,854
1,612,855
MONMORE RECYCLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Monmore Recycling Limited is a private company limited by shares incorporated in England and Wales. The registered office is Churchfield House, 36 Vicar Street, Dudley, West Midlands, England, DY2 8RG.

 

The presentation currency of the financial statements is the Pound Sterling (£).

 

The financial statements are rounded to the nearest £.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

 

 

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over is estimated useful life of ten years.

1.4
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 equipment
20% reducing balance
Computers
33% straight line basis
Motor vehicles
25% reducing balance
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

 

MONMORE RECYCLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Taxation

Taxation for the year compromises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in the other comprehensive income or directly in equity.

Current tax

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.

MONMORE RECYCLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
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 is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.8
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.

 

2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2024
2023
Number
Number
Total
6
6
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
600,000
Amortisation and impairment
At 1 April 2023 and 31 March 2024
600,000
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
-
0
MONMORE RECYCLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
723,002
Additions
9,583
Disposals
(7,500)
At 31 March 2024
725,085
Depreciation and impairment
At 1 April 2023
489,967
Depreciation charged in the Period
54,383
At 31 March 2024
544,350
Carrying amount
At 31 March 2024
180,735
At 31 March 2023
233,035
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
457,588
400,952
Other debtors
85,219
34,252
542,807
435,204
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,172
3,120
Corporation tax
133,297
28,615
Other taxation and social security
50,207
57,082
Other creditors
158,609
381,560
347,285
470,377
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
1 share at £1
1
1
1
1
2024-03-312023-04-01false05 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr S HillMiss S Hillfalsefalse070772542023-04-012024-03-31070772542024-03-31070772542023-03-3107077254core:OtherPropertyPlantEquipment2024-03-3107077254core:OtherPropertyPlantEquipment2023-03-3107077254core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3107077254core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3107077254core:CurrentFinancialInstruments2024-03-3107077254core:CurrentFinancialInstruments2023-03-3107077254core:ShareCapital2024-03-3107077254core:ShareCapital2023-03-3107077254core:RetainedEarningsAccumulatedLosses2024-03-3107077254core:RetainedEarningsAccumulatedLosses2023-03-3107077254core:ShareCapital2022-03-3107077254core:RetainedEarningsAccumulatedLosses2022-03-3107077254bus:Director12023-04-012024-03-3107077254core:RetainedEarningsAccumulatedLosses2022-04-012023-03-31070772542022-04-012023-03-3107077254core:RetainedEarningsAccumulatedLosses2023-04-012024-03-3107077254core:Goodwill2023-04-012024-03-3107077254core:PlantMachinery2023-04-012024-03-3107077254core:ComputerEquipment2023-04-012024-03-3107077254core:MotorVehicles2023-04-012024-03-3107077254core:NetGoodwill2023-03-3107077254core:NetGoodwill2024-03-3107077254core:NetGoodwill2023-03-3107077254core:OtherPropertyPlantEquipment2023-03-3107077254core:OtherPropertyPlantEquipment2023-04-012024-03-3107077254core:WithinOneYear2024-03-3107077254core:WithinOneYear2023-03-3107077254bus:PrivateLimitedCompanyLtd2023-04-012024-03-3107077254bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107077254bus:FRS1022023-04-012024-03-3107077254bus:AuditExemptWithAccountantsReport2023-04-012024-03-3107077254bus:Director22023-04-012024-03-3107077254bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP