Abbreviated Company Accounts - SCRAP METAL RECYCLING LIMITED

SCRAP METAL RECYCLING LIMITED - Company Information

08071162 SCRAP METAL RECYCLING LIMITED 2014-05-31 false 2013-06-01 2014-05-31 true 08071162 2013-06-01 2014-05-31 08071162 2014-05-31 08071162 2013-05-31 08071162 uk-gaap-cd-bus:Director1 2013-06-01 2014-05-31 08071162 uk-gaap-cd-bus:Director2 2013-06-01 2014-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-06-01 2014-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-05-31 iso4217:GBP shares

Registered Number 08071162

SCRAP METAL RECYCLING LIMITED

Abbreviated Accounts

31 May 2014

SCRAP METAL RECYCLING LIMITED Registered Number 08071162

Abbreviated Balance Sheet as at 31 May 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	513,301	261,885
		513,301	261,885
Current assets
Stocks		150,000	80,000
Debtors		67,045	113,516
Cash at bank and in hand		393,539	115,495
		610,584	309,011
Creditors: amounts falling due within one year		(1,003,338)	(529,414)
Net current assets (liabilities)		(392,754)	(220,403)
Total assets less current liabilities		120,547	41,482
Creditors: amounts falling due after more than one year		(75,665)	-
Total net assets (liabilities)		44,882	41,482
Capital and reserves
Called up share capital	3	4	4
Profit and loss account		44,878	41,478
Shareholders' funds		44,882	41,482

For the year ending 31 May 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 23 February 2015

And signed on their behalf by:
Peter Curtis, Director

SCRAP METAL RECYCLING LIMITED Registered Number 08071162

Notes to the Abbreviated Accounts for the period ended 31 May 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Improvements to Leasehold - 25% straight line
Plant & Machinery - 25% straight line
Fixtures, fittings & equipment - 25% straight line

Other accounting policies
Stock
Stock is valued at the lower of cost and net realisable value.

2Tangible fixed assets

	£
Cost
At 1 June 2013	292,406
Additions	344,921
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2014	637,327
Depreciation
At 1 June 2013	30,521
Charge for the year	93,505
On disposals	-
At 31 May 2014	124,026
Net book values
At 31 May 2014	513,301
At 31 May 2013	261,885

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
4 Ordinary shares of £1 each	4	4