Registered number
09330099
NJM METAL RECYCLING LIMITED
Filleted Accounts
30 November 2024
NJM METAL RECYCLING LIMITED
Registered number: 09330099
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 81,693 96,510
Current assets
Stocks 184,639 144,944
Debtors 4 17,929 40,470
Cash at bank and in hand 5,746 5,418
208,314 190,832
Creditors: amounts falling due within one year 5 (150,508) (221,451)
Net current assets/(liabilities) 57,806 (30,619)
Total assets less current liabilities 139,499 65,891
Creditors: amounts falling due after more than one year 6 (116,449) (131,135)
Net assets/(liabilities) 23,050 (65,244)
Capital and reserves
Called up share capital 1 1
Profit and loss account 23,049 (65,245)
Shareholders' funds 23,050 (65,244)
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.
N Maunders
Director
Approved by the board on 3 April 2025
NJM METAL RECYCLING LIMITED
Notes to the Accounts
for the year ended 30 November 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.
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2023 264,061 72,111 336,172
Additions - 14,756 14,756
Disposals - (4,167) (4,167)
At 30 November 2024 264,061 82,700 346,761
Depreciation
At 1 December 2023 225,240 14,422 239,662
Charge for the year 9,700 17,373 27,073
On disposals - (1,667) (1,667)
At 30 November 2024 234,940 30,128 265,068
Net book value
At 30 November 2024 29,121 52,572 81,693
At 30 November 2023 38,821 57,689 96,510
4 Debtors 2024 2023
£ £
Trade debtors 13,810 38,660
Other debtors 4,119 1,810
17,929 40,470
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,500 4,500
PAYE 19,703 26,059
VAT 17,000 9,589
Taxation and social security costs 3,993 3,993
Other creditors 105,312 177,310
150,508 221,451
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank Loan BBL 16,519 -
Bank loans 99,930 131,135
116,449 131,135
7 Other information
NJM METAL RECYCLING LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2 Boarhunt Yard
No.1 First Avenue
Southampton
SO15 0LJ
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