H & A Recycling Limited - Accounts to registrar (filleted) - small 22.3

H & A Recycling Limited - Accounts to registrar (filleted) - small 22.3

H & A RECYCLING LIMITED - Company Information

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REGISTERED NUMBER: 07750029 (England and Wales)












H & A Recycling Limited

Unaudited Financial Statements

for the Year Ended 31 August 2022





H & A Recycling Limited (Registered number: 07750029)






Contents of the Financial Statements
for the Year Ended 31 August 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


H & A Recycling Limited

Company Information
for the Year Ended 31 August 2022







DIRECTORS: A M Holmes
G K Alway





REGISTERED OFFICE: 48 Arwenack Street
Falmouth
Cornwall
TR11 3JH





REGISTERED NUMBER: 07750029 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH
Page 1
H & A Recycling Limited (Registered number: 07750029)

Statement of Financial Position
31 August 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 1,700,000 1,700,000
1,700,000 1,700,000

CURRENT ASSETS
Cash at bank and in hand 18,974 24,536

CREDITORS
Amounts falling due within one year 6 539,276 526,594
NET CURRENT LIABILITIES (520,302 ) (502,058 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,179,698
1,197,942

CREDITORS
Amounts falling due after more than one
year
7
532,920
591,940
NET ASSETS 646,778 606,002

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 645,778 605,002
SHAREHOLDERS' FUNDS 646,778 606,002

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 notes form part of these financial statements

Page 2 continued...
H & A Recycling Limited (Registered number: 07750029)

Statement of Financial Position - continued
31 August 2022


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 16 November 2022 and were signed on its behalf by:





G K Alway - Director


The notes form part of these financial statements

Page 3
H & A Recycling Limited (Registered number: 07750029)

Notes to the Financial Statements
for the Year Ended 31 August 2022

1. STATUTORY INFORMATION

H & A Recycling Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost and 10% on cost

Depreciation has been pro-rated and is calculated from the date the asset is acquired.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern
The company has net current liabilities and is reliant upon the continued supports of its directors. The directors believe the going concern basis for preparing the financial statements to be appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

Page 4 continued...
H & A Recycling Limited (Registered number: 07750029)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2022

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 September 2021
and 31 August 2022 80,138
DEPRECIATION
At 1 September 2021
and 31 August 2022 80,138
NET BOOK VALUE
At 31 August 2022 -
At 31 August 2021 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2021
and 31 August 2022 1,700,000
NET BOOK VALUE
At 31 August 2022 1,700,000
At 31 August 2021 1,700,000

Fair value at 31 August 2022 is represented by:
£   
Valuation in 2017 (9,704 )
Valuation in 2018 (456,569 )
Valuation in 2020 (156,389 )
Valuation in 2021 292,500
Cost 2,030,162
1,700,000

If investment property had not been revalued it would have been included at the following historical cost:

2022 2021
£    £   
Cost 2,304,009 2,304,009
Aggregate depreciation (273,847 ) (273,847 )

Investment property was valued on a fair value basis on 31 August 2022 by the directors .

Page 5 continued...
H & A Recycling Limited (Registered number: 07750029)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 34,210 41,271
Trade creditors 120 112
Taxation and social security 56,382 48,622
Other creditors 448,564 436,589
539,276 526,594

Included within other creditors are the directors' loan account balances of £268,874 (2021: £278,874) which will be repaid as cash flow allows. Interest of £27,304 has been charged on these balances at a rate of 10% per annum.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 352,920 381,940
Other creditors 180,000 210,000
532,920 591,940

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 216,802

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 387,130 423,211

Barclays Security Trustee Limited has a fixed and floating charge over the company's assets, property and undertakings.

Page 6