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CAPITAL IRON SCRAP LIMITED (FORMERLY KNOWN AS COUCHON INSURANCE SERVICES LIMITED)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Capital Iron Scrap Limited is a private limited company, limited by shares, registered in England & Wales, company registration number 03232237. The registered office is 4th Floor 95 Gresham Street, London, United Kingdom, EC2V 7AB.
The company changed its registered name from Couchon Insurance Services Limited to Capital Iron Scrap Limited on 16th May 2026, subsequent to the reporting date.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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:
At the balance sheet date the value of the company’s liabilities exceeded the value of its assets. The director, having made appropriate enquiries, is satisfied that the company has access to sufficient working capital for it to continue to meet its liabilities as they fall due and therefore deems it appropriate for the accounts to be prepared on a going concern basis.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
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. Work in progress and finished goods include labour and attributable overheads.
At each reporting 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.
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