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Registered number: 03970552
International Metal Recyclers Limited
Financial Statements
For The Year Ended 29 February 2024
Fruition Accountancy LLP
29 Wood Street
Stratford-upon-Avon
Warwickshire
CV37 6JG
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03970552
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 56,345 84,941
56,345 84,941
CURRENT ASSETS
Debtors 5 140,039 136,793
Cash at bank and in hand 5,900 9,211
145,939 146,004
NET CURRENT ASSETS (LIABILITIES) 145,939 146,004
TOTAL ASSETS LESS CURRENT LIABILITIES 202,284 230,945
Creditors: Amounts Falling Due After More Than One Year 7 (360,000 ) (360,000 )
NET LIABILITIES (157,716 ) (129,055 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (157,816 ) (129,155 )
SHAREHOLDERS' FUNDS (157,716) (129,055)
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For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Piper
Director
28th November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
International Metal Recyclers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03970552 . The principlal place of the business is Long Marston Works, Long Marston, Warwickshire, CV37 8AQ United Kingdom.

2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The director had identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate. Due to external factors, the company had a location change forced upon it which resulted in the losses generated in the comparative period. Now that the company has traded through this change, the director is confident that future trading will return to profit.
2.3. 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 and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Office Equipment 25% reducing balance
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. Borrowings
Interest -bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of relevent borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 March 2023 1,005,482
Disposals (74,400 )
As at 29 February 2024 931,082
Depreciation
As at 1 March 2023 920,541
Provided during the period 18,781
Disposals (64,585 )
As at 29 February 2024 874,737
Net Book Value
As at 29 February 2024 56,345
As at 1 March 2023 84,941
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 28,777 46,777
Other debtors 111,262 90,016
140,039 136,793
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 360,000 360,000
360,000 360,000
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr David Piper 26,974 - 26,974 - -
The above loan is unsecured, interest free and repayable on demand.
10. Related Party Transactions
International Metals and Cable Recycling Limited(Director has significant influence over the company)

International Metals and Cable Recycling Limited

(Director has significant influence over the company)

During the year the company made sales to International Metals and Cable Recycling Limited of £nil (2023 - £10,398) . The amount outstanding at the year end was £28.776 (2023 - £46,777)
During the year the company issued an interest free loan to International Metals and Cable Recycling Limited of £94,825 (2023 - £47,164) repayable on demand. 
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