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REGISTERED NUMBER: 05215639 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

IG METAL RECYCLING LIMITED

IG METAL RECYCLING LIMITED (REGISTERED NUMBER: 05215639)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IG METAL RECYCLING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: Mr A Rakheja
Mr P S Koranga
Ms R Kabad
Ms N C Mehta





REGISTERED OFFICE: 1 Doughty Street
London
WC1N 2PH





REGISTERED NUMBER: 05215639 (England and Wales)






IG METAL RECYCLING LIMITED (REGISTERED NUMBER: 05215639)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,045 36,635

CURRENT ASSETS
Stocks 492,063 162,747
Debtors 5 690,644 306,832
Cash at bank and in hand 131,530 377,866
1,314,237 847,445
CREDITORS
Amounts falling due within one year 6 1,269,838 782,128
NET CURRENT ASSETS 44,399 65,317
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,444

101,952

CAPITAL AND RESERVES
Called up share capital 7 10,000 10,000
Retained earnings 58,444 91,952
SHAREHOLDERS' FUNDS 68,444 101,952

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th July 2025 and were signed on its behalf by:





Mr A Rakheja - Director


IG METAL RECYCLING LIMITED (REGISTERED NUMBER: 05215639)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

IG Metal Recycling Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 05215639 and registered office address is 1 Doughty Street, London, WC1N 2PH.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents sales of goods net of VAT. Turnover is recognised when the container of goods is sealed at the yard. The company earned commission income from sale of scrap metal for exports. This is included in '' Other Operating Income''.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2024 210,440
Additions 7,592
At 31st December 2024 218,032
DEPRECIATION
At 1st January 2024 173,805
Charge for year 20,182
At 31st December 2024 193,987
NET BOOK VALUE
At 31st December 2024 24,045
At 31st December 2023 36,635

IG METAL RECYCLING LIMITED (REGISTERED NUMBER: 05215639)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 263,883 67,833
Other debtors 426,761 238,999
690,644 306,832

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,022,491 552,000
Taxation and social security 11,424 14,483
Other creditors 235,923 215,645
1,269,838 782,128

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 10,000 10,000

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the shareholders.