5 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 02450236 2023-04-01 2024-03-31 02450236 2024-03-31 02450236 2023-03-31 02450236 2022-04-01 2023-03-31 02450236 2023-03-31 02450236 2022-03-31 02450236 core:FurnitureFittings 2023-04-01 2024-03-31 02450236 bus:RegisteredOffice 2023-04-01 2024-03-31 02450236 bus:LeadAgentIfApplicable 2023-04-01 2024-03-31 02450236 bus:Director1 2023-04-01 2024-03-31 02450236 bus:Director2 2023-04-01 2024-03-31 02450236 bus:Director3 2023-04-01 2024-03-31 02450236 bus:Director5 2023-04-01 2024-03-31 02450236 bus:CompanySecretary1 2023-04-01 2024-03-31 02450236 core:WithinOneYear 2024-03-31 02450236 core:WithinOneYear 2023-03-31 02450236 core:ShareCapital 2024-03-31 02450236 core:ShareCapital 2023-03-31 02450236 core:RetainedEarningsAccumulatedLosses 2024-03-31 02450236 core:RetainedEarningsAccumulatedLosses 2023-03-31 02450236 bus:Director1 2023-03-31 02450236 bus:Director1 2024-03-31 02450236 bus:Director1 2022-03-31 02450236 bus:Director1 2023-03-31 02450236 bus:Director1 2022-04-01 2023-03-31 02450236 bus:SmallEntities 2023-04-01 2024-03-31 02450236 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 02450236 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02450236 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02450236 bus:AbridgedAccounts 2023-04-01 2024-03-31 02450236 core:OfficeEquipment 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 02450236
Recycling Materials Limited
Filleted Unaudited Abridged Financial Statements
For the year ended
31 March 2024
R E Jones & Co
Recycling Materials Limited
Abridged Financial Statements
Year ended 31 March 2024
Contents
Page
Officers and professional advisers
1
Abridged statement of financial position
2
Notes to the abridged financial statements
4
R E Jones & Co
Recycling Materials Limited
Officers and Professional Advisers
The board of directors
Mr J O'Connell
Mrs G O'Connell
Mrs M O'Connell
Mrs L Tas
Company secretary
Mrs M O'Connell
Registered office
132 Burnt Ash Road
Lee
London
UK
SE12 8PU
Accountants
R. E. Jones & Co.
Chartered accountants
132 Burnt Ash Road
Lee
London
SE12 8PU
Bankers
Barclays Bank plc
Station Road
Barking
Essex
IG11 8AT
R E Jones & Co
Recycling Materials Limited
Abridged Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
556
695
Current assets
Debtors
274
484
Cash at bank and in hand
77,000
67,569
---------
---------
77,274
68,053
Creditors: amounts falling due within one year
22,046
20,716
---------
---------
Net current assets
55,228
47,337
---------
---------
Total assets less current liabilities
55,784
48,032
---------
---------
Net assets
55,784
48,032
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
55,684
47,932
---------
---------
Shareholders funds
55,784
48,032
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.
R E Jones & Co
Recycling Materials Limited
Abridged Statement of Financial Position (continued)
31 March 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 14 November 2024 , and are signed on behalf of the board by:
Mr J O'Connell
Director
Company registration number: 02450236
R E Jones & Co
Recycling Materials Limited
Notes to the Abridged Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 132 Burnt Ash Road, Lee, London, SE12 8PU, UK.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may arise.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
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 entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Tangible assets
£
Cost
At 1 April 2023 and 31 March 2024
14,260
---------
Depreciation
At 1 April 2023
13,565
Charge for the year
139
---------
At 31 March 2024
13,704
---------
Carrying amount
At 31 March 2024
556
---------
At 31 March 2023
695
---------
6. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr J O'Connell
( 292)
242
( 50)
----
----
----
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr J O'Connell
( 49)
( 243)
( 292)
----
----
----
7. Related party transactions
The company was under the control of Mr J O`Connell and Mrs I O`Connell throughout the current year. Mr J O`Connell is a director and joint majority shareholder. Mrs I O`Connell is joint majority shareholder. No transactions with related parties took please that are required to be disclosed under FRS102.