AWS Recycling Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04706979 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

FOR

AWS RECYCLING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

S J Weir

J S Weir

SECRETARY:

J S Weir

REGISTERED OFFICE:

Aston House

Aston Road North

Birmingham

B6 4DS

REGISTERED NUMBER:

04706979 (England and Wales)

ACCOUNTANTS:

Malcolm Piper & Company Limited

Chartered Accountants

Kingsnorth House

Blenheim Way

Birmingham

West Midlands

B44 8LS

FIXED ASSETS

Tangible assets

4

254,567

353,674

CURRENT ASSETS

Debtors

5

275,331

165,358

Cash at bank and in hand

135,716

91,987

411,047

257,345

CREDITORS

Amounts falling due within one year

6

393,677

338,453

NET CURRENT ASSETS/(LIABILITIES)

17,370

(81,108

)

TOTAL ASSETS LESS CURRENT LIABILITIES

271,937

272,566

CREDITORS

Amounts falling due after more than one year

7

(104,117

)

(92,616

)

PROVISIONS FOR LIABILITIES

(48,368

)

(66,159

)

NET ASSETS

119,452

113,791

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

119,352

113,691

SHAREHOLDERS' FUNDS

119,452

113,791

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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 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 23 September 2021 and were signed on its behalf by:

J S Weir - Director

1.	STATUTORY INFORMATION

AWS 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants

The company receives government grants in respect of the HM Job Retention Scheme. Income from government and other grants are recognised at fair value when the company has entitlement after any performance conditions are met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met these amounts are deferred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2020 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2020

354,992

579,415

16,291

950,698

Additions

45,495

-

-

45,495

Disposals

-

(268,759

)

-

(268,759

)

At 31 May 2021

400,487

310,656

16,291

727,434

DEPRECIATION

At 1 June 2020

246,768

334,961

15,295

597,024

Charge for year

49,463

50,014

723

100,200

Eliminated on disposal

-

(224,357

)

-

(224,357

)

At 31 May 2021

296,231

160,618

16,018

472,867

NET BOOK VALUE

At 31 May 2021

104,256

150,038

273

254,567

At 31 May 2020

108,224

244,454

996

353,674

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

222,267

162,405

Other debtors

53,064

2,953

275,331

165,358

Included in 'Trade debtors' above are debts totalling £146,291 (2020 - £118,591) that are subject to a factoring agreement.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Hire purchase contracts

40,109

66,620

Trade creditors

108,795

49,698

Taxation and social security

83,324

131,884

Other creditors

161,449

90,251

393,677

338,453

Included in 'Other creditors' above are factoring advances totalling £115,267 (2020 - £82,277).

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

50,000

-

Hire purchase contracts

54,117

92,616

104,117

92,616

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Factoring advances

115,267

82,277

The factoring advances are secured upon those trade debtors that are subject to the factoring agreement.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AWS Recycling Limited for the year ended 31 May 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of AWS Recycling Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of AWS Recycling Limited and state those matters that we have agreed to state to the Board of Directors of AWS Recycling Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AWS Recycling Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that AWS Recycling Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AWS Recycling Limited. You consider that AWS Recycling Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of AWS Recycling Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Malcolm Piper & Company Limited

Chartered Accountants

Kingsnorth House

Blenheim Way

Birmingham

West Midlands

B44 8LS

23 September 2021