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STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ALCUMET TRADING LIMITED

ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


ALCUMET TRADING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: P J Brewer
W Reid





REGISTERED OFFICE: Remet Works
9a Cody Business Centre
South Crescent
London
E16 4TL





REGISTERED NUMBER: 09485768 (England and Wales)





AUDITORS: MGR SD Limited
Chartered Accountants
Statutory Auditors
55 Loudoun Road
London
NW8 0DL

ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024


The directors present their strategic report for the year ended 30 June 2024.

REVIEW OF BUSINESS
The Income Statement is set out on Page 7 and shows the profit for the period.

The directors consider the state of the company's affairs to be satisfactory. The directors believe the company is still performing well in the current financial year and the directors are hopeful that the company will continue to improve in the future.

Key performance indicators used by the company are:


2024 2023
Turnover £39.17m £26.40m
Gross Profit £1.57m £1.14m
Operating Profit £0.98m £0.52m
Net Profit £0.57m £0.34m

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks facing the business relate to the general state of the industrial economy in the UK and in those countries to which the company exports and the growth of the company's key markets, the continuity of supply of the key metals used in the business, the financial health of the company's main customers and the development of metal prices.

Financial instruments of significance to the company comprise primary financial instruments (mainly cash, borrowings, debtors and creditors).

The main financial risks arising from the company's activities are credit risk, market risk (metal prices and foreign exchange) and liquidity risk. These are monitored by the Board and were not considered to be significant at the balance sheet date.

The company's policy in respect of credit risk is to mitigate the risk of loss by adhering to credit control procedures including the use of credit limits and credit insurance.

Exposures to metal price movements are restricted by the imposition of trading position limits agreed by the Board. The company mitigates its foreign exchange risk by entering into forward currency contracts.

Liquidity risk is managed by planning for future funding requirements to ensure adequate facilities are available.

ON BEHALF OF THE BOARD:





P J Brewer - Director


24 January 2025

ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024


The directors present their report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of trading scrap metal.

DIVIDENDS
An interim dividend of £5669.42 per share was paid on 30 June 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30 June 2024 will be £ 566,942 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

P J Brewer
W Reid

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024


AUDITORS
The auditors, MGR SD Limited, have been appointed as auditors during the year, under Section 485 of the Companies Act 2006, and will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P J Brewer - Director


24 January 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALCUMET TRADING LIMITED


Opinion
We have audited the financial statements of Alcumet Trading Limited (the 'company') for the year ended 30 June 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALCUMET TRADING LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Based on our understanding of the company and its industry, we identified that the principal risks of non-compliance with laws and regulations related to Employment Law and we considered the extent to which non-compliance with laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006.

We evaluated the directors' incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of management override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance and manipulating accounting estimates which could be subject to management bias.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALCUMET TRADING LIMITED


Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to:

-discussing with the directors and management their policies and procedures regarding compliance with laws and regulations;
-communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit;
-considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud; and
-verifying employees' right to work in the UK as part of adherence to Employment Law

Our audit procedures in relation to fraud included but were not limited to:

-making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;
-gaining an understanding of the internal controls established to mitigate risks related to fraud;
-discussing amongst the engagement team the risks of fraud;
-addressing the risks of fraud though management override of controls by performing journal entry testing; and
-testing of accounting estimates which could be subject to management bias

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Simon Sefton (Senior Statutory Auditor)
for and on behalf of MGR SD Limited
Chartered Accountants
Statutory Auditors
55 Loudoun Road
London
NW8 0DL

24 January 2025

ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

Period
1.10.22
Year Ended to
30.6.24 30.6.23
Notes £    £   

TURNOVER 3 39,173,581 26,400,104

Cost of sales (37,601,910 ) (25,257,597 )
GROSS PROFIT 1,571,671 1,142,507

Administrative expenses (595,959 ) (627,771 )
OPERATING PROFIT 5 975,712 514,736

Interest receivable and similar income 9,669 474
985,381 515,210

Interest payable and similar expenses 6 (223,593 ) (83,774 )
PROFIT BEFORE TAXATION 761,788 431,436

Tax on profit 7 (191,964 ) (91,382 )
PROFIT FOR THE FINANCIAL YEAR 569,824 340,054

ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

Period
1.10.22
Year Ended to
30.6.24 30.6.23
Notes £    £   

PROFIT FOR THE YEAR 569,824 340,054


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

569,824

340,054

ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Intangible assets 9 3,781 3,744
Tangible assets 10 2,554 2,796
6,335 6,540

CURRENT ASSETS
Debtors 11 6,460,935 3,428,792
Cash at bank and in hand 244,575 165,554
6,705,510 3,594,346
CREDITORS
Amounts falling due within one year 12 (5,182,041 ) (2,573,964 )
NET CURRENT ASSETS 1,523,469 1,020,382
TOTAL ASSETS LESS CURRENT LIABILITIES 1,529,804 1,026,922

CREDITORS
Amounts falling due after more than one
year

13

(1,500,000

)

(1,000,000

)
NET ASSETS 29,804 26,922

CAPITAL AND RESERVES
Called up share capital 14 100 100
Retained earnings 15 29,704 26,822
SHAREHOLDERS' FUNDS 29,804 26,922

The financial statements were approved by the Board of Directors and authorised for issue on 24 January 2025 and were signed on its behalf by:





P J Brewer - Director


ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 October 2022 100 936,768 936,868

Changes in equity
Dividends - (1,250,000 ) (1,250,000 )
Total comprehensive income - 340,054 340,054
Balance at 30 June 2023 100 26,822 26,922

Changes in equity
Dividends - (566,942 ) (566,942 )
Total comprehensive income - 569,824 569,824
Balance at 30 June 2024 100 29,704 29,804

ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Alcumet Trading Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirement of paragraph 33.7.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer Equipment - 25% reducing balance

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

Current or deferred taxation assets and liabilities are not discounted.

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.


ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued
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 it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-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.

ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

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

Interest Payable
Interest payable is charged to the profit and loss account on an accruals basis.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently measured at amortised cost using the effective interest method, less any impairment.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and where material the changes in fair value are recognised in the Statement of Total Comprehensive Income, except that investments in equity instruments that are not publicly traded and whose fair value cannot be measured reliably are measured at cost less impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the life of the debt instrument to the net carrying amount on initial recognition.

Impairment of financial assets
Financial assets, other than those held at fair value are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the Statement of Total Comprehensive Income.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured 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 the market rate of interest.

ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

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

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

4. EMPLOYEES AND DIRECTORS
Period
1.10.22
Year Ended to
30.6.24 30.6.23
£    £   
Wages and salaries 179,582 133,332
Social security costs 21,017 15,723
Other pension costs 3,061 2,253
203,660 151,308

The average number of employees during the year was as follows:
Period
1.10.22
Year Ended to
30.6.24 30.6.23

Administration 3 3
Management 2 2
5 5

Period
1.10.22
Year Ended to
30.6.24 30.6.23
£    £   
Directors' remuneration - -

ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. OPERATING PROFIT

The operating profit is stated after charging:

Period
1.10.22
Year Ended to
30.6.24 30.6.23
£    £   
Depreciation - owned assets 649 463
Computer software amortisation 936 1,333
Auditors' remuneration 17,000 17,125
Foreign exchange differences 65,342 260,123

6. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.10.22
Year Ended to
30.6.24 30.6.23
£    £   
Other interest paid 223,593 80,944
Interest on late tax - 2,830
223,593 83,774

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
1.10.22
Year Ended to
30.6.24 30.6.23
£    £   
Current tax:
UK corporation tax 191,964 91,382
Tax on profit 191,964 91,382

UK corporation tax has been charged at 25% (2023 - 21%).

ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.10.22
Year Ended to
30.6.24 30.6.23
£    £   
Profit before tax 761,788 431,436
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 21%)

190,447

90,602

Effects of:
Expenses not deductible for tax purposes 1,546 826
Capital allowances in excess of depreciation (29 ) (46 )
Total tax charge 191,964 91,382

8. DIVIDENDS
Period
1.10.22
Year Ended to
30.6.24 30.6.23
£    £   
Interim 566,942 1,250,000

9. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 July 2023
and 30 June 2024 9,025
AMORTISATION
At 1 July 2023 5,281
Amortisation for year 936
Charge written back (973 )
At 30 June 2024 5,244
NET BOOK VALUE
At 30 June 2024 3,781
At 30 June 2023 3,744

ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


10. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 July 2023 3,695
Additions 729
Disposals (429 )
At 30 June 2024 3,995
DEPRECIATION
At 1 July 2023 899
Charge for year 649
Eliminated on disposal (107 )
At 30 June 2024 1,441
NET BOOK VALUE
At 30 June 2024 2,554
At 30 June 2023 2,796

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 5,841,061 3,287,107
Other debtors 604,239 110,330
VAT 5,804 29,300
Prepayments 9,831 2,055
6,460,935 3,428,792

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 1,413,525 279,084
Amounts owed to group undertakings 2,957,570 1,960,216
Taxation 191,964 94,212
Other creditors 27,441 -
Accrued expenses 591,541 240,452
5,182,041 2,573,964

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Amounts owed to group undertakings 1,500,000 1,000,000

ALCUMET TRADING LIMITED (REGISTERED NUMBER: 09485768)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary £1 100 100

15. RESERVES
Retained
earnings
£   

At 1 July 2023 26,822
Profit for the year 569,824
Dividends (566,942 )
At 30 June 2024 29,704

16. ULTIMATE PARENT COMPANY

The Remet Group Limited is regarded by the directors as being the company's ultimate parent company.

The Remet Group Limited will be preparing group financial statements incorporating the financial statements of the company.

A copy of these can be obtained from that company's registered office at 9a Cody Business Centre, Cody Road, London E16 4TL.

17. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

There is an unlimited composite guarantee given by The Remet Company Limited, Alcumet Limited, Avon Metals Limited, Avon Specialty Metals Limited and Remet Processing Limited to secure all bank liabilities of each other.

Entities with control, joint control or significant influence over the entity

The following related party transactions took place during the year;
Sales - £2,083
Management charge paid - £97,561
Purchases/expenses - £773,054
Loan interest paid - £223,756
Amounts owed by the company at year end - £2,957,570

18. ULTIMATE CONTROLLING PARTY

The Directors consider the ultimate controlling party to be the Board of The Remet Group Limited