Company registration number 09790349 (England and Wales)
CONSOLIDATED RECYCLED METALS CO. LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CONSOLIDATED RECYCLED METALS CO. LTD
COMPANY INFORMATION
Directors
S Woolf
K Cho
S Pi
Company number
09790349
Registered office
Level 35
110 Bishopsgate
London
EC2N 4AY
Auditor
TC Audit Limited
Suite 501
The Nexus Building
Broadway
Letchworth Garden City
Herts
SG6 9BL
Business address
Level 35
110 Bishopsgate
London
EC2N 4AY
CONSOLIDATED RECYCLED METALS CO. LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CONSOLIDATED RECYCLED METALS CO. LTD
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
$
$
$
$
Current assets
Debtors
4
21,529,691
175,648
Cash at bank and in hand
35,571
23,494
21,565,262
199,142
Creditors: amounts falling due within one year
5
(21,456,793)
(192,497)
Net current assets
108,469
6,645
Capital and reserves
Called up share capital
6
133
133
Profit and loss reserves
108,336
6,512
Total equity
108,469
6,645

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 30 September 2025 and are signed on its behalf by:
K Cho
Director
Company Registration No. 09790349
CONSOLIDATED RECYCLED METALS CO. LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Consolidated Recycled Metals Co. Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Level 35, 110 Bishopsgate, London, EC2N 4AY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 company's functional currency is the US$ and as such the financial statements are pre sente d in line with the company's functional currency for presentation purposes. Monetary a mounts in these financial statements are rounded to the nearest $.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buye r, this being when goods are loaded on to a shipment on behalf of customers.

1.4
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CONSOLIDATED RECYCLED METALS CO. LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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

1.6
Equity instruments

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

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

CONSOLIDATED RECYCLED METALS CO. LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Foreign exchange

Transactions in currencies other than US$ are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
4
Debtors
2024
2023
Amounts falling due within one year:
$
$
Trade debtors
21,529,691
175,648
CONSOLIDATED RECYCLED METALS CO. LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
$
$
Trade creditors
2,690
35,284
Amounts owed to group undertakings
21,414,394
149,247
Corporation tax
30,151
-
0
Other creditors
9,558
7,966
21,456,793
192,497
6
Called up share capital
2024
2023
$
$
Ordinary share capital
Issued and fully paid
100 Ordinary shares of $1.33 each
133
133
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 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.

Senior Statutory Auditor:
James Price FCA
Statutory Auditor:
TC Audit Limited
Date of audit report:
3 October 2025
8
Parent company

The company is a wholly owned subsidiary of Sansing Limited, which is incorporated in Hong Kong.

The company’s ultimate parent undertaking is AMCO Investments Limited (“AMCO”), a company incorporated in England and Wales. AMCO is the parent of the largest group of undertakings for which consolidated financial statements are drawn up and of which the company is a member. Copies of the consolidated financial statements of AMCO are available from Companies House.

Sansing Limited is the parent of the smallest group of undertakings for which consolidated financial statements are drawn up and of which the company is a member. Copies of the consolidated financial statements are available at AMC’s registered office: Level 35 110 Bishopsgate, London, EC2N 4AY.

2024-12-31 2024-01-01 false false false 03 October 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity S Woolf K Cho S Pi 09790349 2024-01-01 2024-12-31 09790349 bus:Director1 2024-01-01 2024-12-31 09790349 bus:Director2 2024-01-01 2024-12-31 09790349 bus:Director3 2024-01-01 2024-12-31 09790349 bus:RegisteredOffice 2024-01-01 2024-12-31 09790349 2024-12-31 09790349 2023-12-31 09790349 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 09790349 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09790349 core:CurrentFinancialInstruments 2024-12-31 09790349 core:CurrentFinancialInstruments 2023-12-31 09790349 core:ShareCapital 2024-12-31 09790349 core:ShareCapital 2023-12-31 09790349 core:RetainedEarningsAccumulatedLosses 2024-12-31 09790349 core:RetainedEarningsAccumulatedLosses 2023-12-31 09790349 core:ShareCapitalOrdinaryShareClass1 2024-12-31 09790349 core:ShareCapitalOrdinaryShareClass1 2023-12-31 09790349 2023-01-01 2023-12-31 09790349 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09790349 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 09790349 bus:FRS102 2024-01-01 2024-12-31 09790349 bus:Audited 2024-01-01 2024-12-31 09790349 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP