Registered number
02558701
Hadleigh Salvage (Recycling) Ltd
Unaudited Filleted Accounts
30 June 2024
Hadleigh Salvage (Recycling) Ltd
Registered number: 02558701
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 293,500 293,500
Tangible assets 4 230,862 203,147
Investments 5 800,000 800,000
1,324,362 1,296,647
Current assets
Stocks 103,274 148,663
Debtors 6 106,517 69,344
Cash at bank and in hand 36,147 23,130
245,938 241,137
Creditors: amounts falling due within one year 7 (619,074) (496,940)
Net current liabilities (373,136) (255,803)
Total assets less current liabilities 951,226 1,040,844
Creditors: amounts falling due after more than one year 8 (706,283) (660,852)
Net assets 244,943 379,992
Capital and reserves
Called up share capital 100 100
Profit and loss account 244,843 379,892
Shareholders' funds 244,943 379,992
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Zoe Clark
Director
Approved by the board on 28 March 2025
Hadleigh Salvage (Recycling) Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing value
Plant and machinery 25% reducing value
Fixtures, fittings, tools and equipment 25% reducing value
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 12
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 293,500
At 30 June 2024 293,500
Amortisation
At 30 June 2024 -
Net book value
At 30 June 2024 293,500
At 30 June 2023 293,500
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 74,422 304,514 248,055 626,991
Additions 1,793 80,439 22,437 104,669
At 30 June 2024 76,215 384,953 270,492 731,660
Depreciation
At 1 July 2023 28,033 266,035 129,776 423,844
Charge for the year 12,045 29,730 35,179 76,954
At 30 June 2024 40,078 295,765 164,955 500,798
Net book value
At 30 June 2024 36,137 89,188 105,537 230,862
At 30 June 2023 46,389 38,479 118,279 203,147
5 Investments
Other
investments
£
Cost
At 1 July 2023 800,000
At 30 June 2024 800,000
6 Debtors 2024 2023
£ £
Trade debtors 92,830 69,344
Other debtors 13,687 -
106,517 69,344
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 118,548 116,176
Trade creditors 334,595 262,823
Taxation and social security costs 29,435 12,941
Other creditors 136,496 105,000
619,074 496,940
8 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 706,283 660,852
9 Other information
Hadleigh Salvage (Recycling) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9 Stock Road
Southend-On-Sea
SS2 5QF
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