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Registered Number: 11630493
England and Wales

 

 

 


Filleted Accounts

for the year ended 31 October 2023

for

SPENCER RECYCLING LTD

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 230,883    46,915 
230,883    46,915 
Current assets      
Debtors 4 11,668    39,147 
Cash at bank and in hand 391,001    235,595 
402,669    274,742 
Creditors: amount falling due within one year 5 (113,794)   (97,492)
Net current assets 288,875    177,250 
 
Total assets less current liabilities 519,758    224,165 
Creditors: amount falling due after more than one year 6 (26,929)   (37,032)
Provisions for liabilities 7 (8,914)   (8,914)
Net assets 483,915    178,219 
 

Capital and reserves
     
Called up share capital 8 2    2 
Profit and loss account 483,913    178,217 
Shareholders' funds 483,915    178,219 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 31 October 2024 and were signed by:


-------------------------------
Anthony Spencer
Director
1
General Information
Spencer Recycling Ltd is a private company, limited by shares, registered in England and Wales, registration number 11630493, registration address Penny Lane Business Centre, 374 Smithdown Road, Liverpool, Merseyside, L15 5AN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 November 2022 60,157      15,727    75,884 
Additions 126,000    89,679    3,250    218,929 
Disposals      
At 31 October 2023 186,157    89,679    18,977    294,813 
Depreciation
At 01 November 2022 27,679      1,290    28,969 
Charge for year 8,119    22,420    4,422    34,961 
On disposals      
At 31 October 2023 35,798    22,420    5,712    63,930 
Net book values
Closing balance as at 31 October 2023 150,359    67,259    13,265    230,883 
Opening balance as at 01 November 2022 32,478      14,437    46,915 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors   27,816 
Other Debtors 11,668    11,331 
11,668    39,147 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 26,391   
Corporation Tax 57,318    36,002 
Accrued Expenses 1,134    1,134 
Directors' Current Accounts   55,079 
VAT 28,951    5,277 
113,794    97,492 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 26,929    37,032 
26,929    37,032 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 8,914    8,914 
8,914    8,914 

8.

Share Capital

Authorised
1 Ordinary share of £1.00 each
1 B Ordinary share of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
1 Ordinary share of £1.00 each  
1 B Ordinary share of £1.00 each  
 

2