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Registration number: 12676638

Commercial Scrap Solutions Ltd Unaudited Financial Statements for the Period from 1 December 2023 to 31 December 2024
Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Commercial Scrap Solutions Ltd

Contents

Company Information | 1
Statement of Financial Position | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 9

Commercial Scrap Solutions Ltd

Company Information

Director | J Wright

Registered office | 130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Accountants | Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Commercial Scrap Solutions Ltd

Statement of Financial Position as at 31 December 2024

| Note | 31 December 2024 £ | 30 November 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 7,217 | 2,356
Current assets |  |  |
Stocks | 5 | 8,426 | -
Debtors | 6 | 71,440 | 2,675
|  | 79,866 | 2,675
Creditors: Amounts falling due within one year | 7 | (102,433) | (14,803)
Net current liabilities |  | (22,567) | (12,128)
Total assets less current liabilities |  | (15,350) | (9,772)
Creditors: Amounts falling due after more than one year | 7 | - | (1,547)
Net liabilities |  | (15,350) | (11,319)
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | (15,450) | (11,419)
Shareholders' deficit |  | (15,350) | (11,319)

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Commercial Scrap Solutions Ltd

Statement of Financial Position as at 31 December 2024

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Commercial Scrap Solutions Ltd have elected not to include a copy of the profit and loss account within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the director on 11 February 2026

.........................................

J Wright

Director

Company registration number: 12676638

Commercial Scrap Solutions Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal place of business is:
Enterprise House
Perry Road
Harlow
Essex
CM18 7PN

The principal activity of the company is being collection of non-hazardous waste.

2 | Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

Disclosure of long or short period

These financial statements relate to the 13 month period from 1 December 2023 to 31 December 2024.

Going concern

The company made a loss in the period ended 31 December 2024 and had a deficiency of net assets at that date amounting to £15,350.
The company experienced a significant increase in trade during the period, and it is the Director's expectation that the company will start to generate profits in the near future. The company is reliant on the factoring arrangement, and whilst pressures on cashflow remain, it is operating within agreed terms. There are no indications to suggest that this arrangement will not continue into future years.
On the basis of the above, and after making appropriate enquiries, the director is confident that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the company continues to adopt the going concern basis in preparing the financial statements.

Commercial Scrap Solutions Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 December 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expenses for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Motor vehicles | 33.33% straight line
Plant and machinery | 25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to sell; the impairment loss is recognised immediately in profit or loss.

Commercial Scrap Solutions Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Finance leases and hire purchase

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation.
Lease payments are apportioned between finance costs in the Income Statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Assets held under hire purchase contracts are capitalised at the lesser of fair value or present value of minimum lease payments in the statement of financial position. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. A corresponding liability is recognised at the same value in the statement of financial position. The asset is then depreciated over its useful life.
The minimum lease payments are apportioned between the finance charge recognised in the income statement and the reduction of the outstanding liability using the effective interest method. The finance charge in each period is allocated so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company during the period, was 2 (2023 - 0).

Commercial Scrap Solutions Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 December 2024

4 | Tangible assets

| Motor vehicles £ | Plant and machinery £ | Total £
Cost or valuation
At 1 December 2023 | 10,600 | - | 10,600
Additions | - | 7,601 | 7,601
At 31 December 2024 | 10,600 | 7,601 | 18,201
Depreciation
At 1 December 2023 | 8,244 | - | 8,244
Charge for the period | 2,356 | 384 | 2,740
At 31 December 2024 | 10,600 | 384 | 10,984
Carrying amount
At 31 December 2024 | - | 7,217 | 7,217
At 30 November 2023 | 2,356 | - | 2,356

5 | Stocks

| 31 December 2024 £ | 30 November 2023 £
Stock | 8,426 | -

6 | Debtors

| Note | 31 December 2024 £ | 30 November 2023 £
Trade debtors |  | 59,197 | -
Amounts owed by group undertakings | 9 | 1,578 | 1,750
Other debtors |  | 10,665 | 925
|  | 71,440 | 2,675

Commercial Scrap Solutions Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 December 2024

7 | Creditors

Creditors: amounts falling due within one year

| 31 December 2024 £ | 30 November 2023 £
Bank overdrafts | 304 | 11
Trade creditors | 39,233 | -
Taxation and social security | 11,506 | -
Other creditors | 50,030 | 12,663
Hire purchase contracts | 1,360 | 2,129
| 102,433 | 14,803

Creditors: amounts falling due after more than one year

| Note | 31 December 2024 £ | 30 November 2023 £
Hire purchase contracts | 8 | - | 1,547

Creditors include factored debts of £46,891 (2023 - £Nil) which are secured via fixed and floating charges against the company's assets.
Net obligations in respect of hire purchase contracts are secured against the assets concerned.

8 | Loans and borrowings

| 31 December 2024 £ | 30 November 2023 £
Current loans and borrowings
Bank overdrafts | 304 | 11
Hire purchase contracts | 1,360 | 2,129
| 1,664 | 2,140

Non-current loans and borrowings

| 31 December 2024 £ | 30 November 2023 £
Hire purchase contracts | - | 1,547

Net obligations in respect of hire purchase contracts are secured against the assets concerned.

Commercial Scrap Solutions Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 December 2024

9 | Related party transactions

Other transactions with directors

At 31 December 2024 an amount of £10,665 (2023: £Nil) was due from the directors. During the period advances of £12,327 and repayments of £1,662 were made.
Interest of £4 (year to 30 November 2023: £Nil) is payable to the company at 2.25% per annum. There are no agreed terms in place.