Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-312025-05-12false122023-04-01Recovery of sorted materialsfalse12truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07113856 2023-04-01 2024-03-31 07113856 2022-04-01 2023-03-31 07113856 2024-03-31 07113856 2023-03-31 07113856 2022-04-01 07113856 c:Director1 2023-04-01 2024-03-31 07113856 d:Buildings 2023-04-01 2024-03-31 07113856 d:Buildings 2024-03-31 07113856 d:Buildings 2023-03-31 07113856 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07113856 d:PlantMachinery 2023-04-01 2024-03-31 07113856 d:PlantMachinery 2024-03-31 07113856 d:PlantMachinery 2023-03-31 07113856 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07113856 d:MotorVehicles 2023-04-01 2024-03-31 07113856 d:ComputerEquipment 2023-04-01 2024-03-31 07113856 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07113856 d:CurrentFinancialInstruments 2024-03-31 07113856 d:CurrentFinancialInstruments 2023-03-31 07113856 d:Non-currentFinancialInstruments 2024-03-31 07113856 d:Non-currentFinancialInstruments 2023-03-31 07113856 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07113856 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07113856 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07113856 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07113856 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 07113856 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07113856 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 07113856 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07113856 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 07113856 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 07113856 d:ShareCapital 2024-03-31 07113856 d:ShareCapital 2023-03-31 07113856 d:RetainedEarningsAccumulatedLosses 2024-03-31 07113856 d:RetainedEarningsAccumulatedLosses 2023-03-31 07113856 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 07113856 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07113856 c:OrdinaryShareClass1 2023-04-01 2024-03-31 07113856 c:OrdinaryShareClass1 2024-03-31 07113856 c:OrdinaryShareClass1 2023-03-31 07113856 c:FRS102 2023-04-01 2024-03-31 07113856 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07113856 c:FullAccounts 2023-04-01 2024-03-31 07113856 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07113856 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 07113856 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 07113856 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 07113856 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 07113856 d:HirePurchaseContracts d:MoreThanFiveYears 2024-03-31 07113856 d:HirePurchaseContracts d:MoreThanFiveYears 2023-03-31 07113856 2 2023-04-01 2024-03-31 07113856 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07113856









MALDON METALS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
MALDON METALS LIMITED
REGISTERED NUMBER: 07113856

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
452,149
480,418

  
452,149
480,418

Current assets
  

Stocks
 5 
19,750
19,750

Debtors: amounts falling due within one year
 6 
955,681
739,629

Cash at bank and in hand
 7 
115,664
31,163

  
1,091,095
790,542

Creditors: amounts falling due within one year
 8 
(741,263)
(571,269)

Net current assets
  
 
 
349,832
 
 
219,273

Total assets less current liabilities
  
801,981
699,691

Creditors: amounts falling due after more than one year
 9 
(169,674)
(274,886)

Provisions for liabilities
  

Deferred tax
 12 
(42,078)
(22,262)

Net assets
  
590,229
402,543


Capital and reserves
  

Called up share capital 
 13 
100
100

Profit and loss account
  
590,129
402,443

  
590,229
402,543


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
Page 1

 
MALDON METALS LIMITED
REGISTERED NUMBER: 07113856
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 May 2025.




B Batchelor
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MALDON METALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Maldon Metals Limited is a private company limited by shares and incorporated in England and Wales. The registered office is 1 West Station Yard, Spital Road, Maldon, Essex, England, CM9 6TR. The principal activity of the company during the year has been that of the recovery of sorted materials.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
MALDON METALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
MALDON METALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line on buildings
Plant & machinery
-
25%
straight line
Motor vehicles
-
20%
straight line
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
MALDON METALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 12).

Page 6

 
MALDON METALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Freehold property
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 April 2023
331,678
669,498
1,001,176


Additions
-
49,423
49,423



At 31 March 2024

331,678
718,921
1,050,599



Depreciation


At 1 April 2023
44,360
476,398
520,758


Charge for the year 
3,480
74,212
77,692



At 31 March 2024

47,840
550,610
598,450



Net book value



At 31 March 2024
283,838
168,311
452,149



At 31 March 2023
287,318
193,100
480,418


5.


Stocks

2024
2023
£
£

Stocks
19,750
19,750

19,750
19,750


Page 7

 
MALDON METALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
112,256
112,200

Amounts owed by group undertakings
61,334
59,347

Amounts owed by joint ventures
774,176
557,757

Other debtors
1,583
3,062

Prepayments and accrued income
6,332
7,263

955,681
739,629



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
115,664
31,163



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
69,422
67,314

Trade creditors
233,438
150,116

Corporation tax
145,472
88,976

Other taxation and social security
210,603
183,549

Obligations under finance lease and hire purchase contracts
43,503
73,963

Other creditors
33,865
1,107

Accruals and deferred income
4,960
6,244

741,263
571,269


Page 8

 
MALDON METALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
154,818
223,976

Net obligations under finance leases and hire purchase contracts
14,856
50,910

169,674
274,886



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
69,422
67,314

Amounts falling due 1-2 years

Bank loans
71,599
69,420

Amounts falling due 2-5 years

Bank loans
72,342
141,390

Amounts falling due after more than 5 years

Bank loans
10,877
13,166

224,240
291,290



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
43,503
73,963

Between 1-5 years
14,856
43,130

Over 5 years
-
7,780

58,359
124,873

Page 9

 
MALDON METALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Deferred taxation




2024
2023


£

£



At beginning of year
(22,262)
(18,443)


Charged to profit or loss
(19,816)
(3,819)



At end of year
(42,078)
(22,262)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
42,078
22,262


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



14.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the funds and amounted to £3,311 (2023 - £1,463). Contributions totaling £NIL (2023 - £Nil) were payable to the fund at the balance sheet date and are included in other creditors due within one year.


15.


Related party transactions

Included within other debtors due within one year is an amount of £599,413 (2023 - £614,104) due from the parent company. Dividends of £Nil (2023 - £125,000) and management charges of £38,000 (2023 - £40,000) were paid to the parent company during the year.


16.


Controlling party

The parent company is Remy Milo Holdings Limited, a company registered in England and Wales. The ultimate controlling party is Ben Batchelor.

 
Page 10