Attero Recycling Limited - Period Ending 2015-07-31

Registration number: 08593843

Attero Recycling Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2015
 

Attero Recycling Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Attero Recycling Limited (Registration number: 08593843)
Abbreviated Balance Sheet at 31 July 2015

		Note			31 July 2015 £			31 July 2014 £
Fixed assets
Tangible fixed assets					3,005,575			571,440
Current assets
Debtors					640,453			160,298
Cash at bank and in hand					256,427			5,631
					896,880			165,929
Creditors: Amounts falling due within one year					(1,672,673)			(428,865)
Net current liabilities					(775,793)			(262,936)
Total assets less current liabilities					2,229,782			308,504
Creditors: Amounts falling due after more than one year					(1,157,541)			(292,451)
Provisions for liabilities					(214,159)			-
Net assets					858,082			16,053
Capital and reserves
Called up share capital		3			2			2
Revaluation reserve					631,461			-
Profit and loss account					226,619			16,051
Shareholders' funds					858,082			16,053

For the year ending 31 July 2015 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 15 October 2015 and signed on its behalf by:

.........................................
Mr D Colakovic
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Attero Recycling Limited (Registration number: 08593843)
Abbreviated Balance Sheet at 31 July 2015
......... continued

.........................................
Mr S P Bolland
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Attero Recycling Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Government grants

The company received grants from the government regional growth fund for the assistance in purchasing various fixed assets. The grants have been released to the profit and loss account on a monthly basis over the useful economic life of the assets.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Depreciation is charged monthly, from the date of acquisition.

The land has not been depreciated as this has not been used for waste disposal purposes during the year and as such the directors consider this appropriate. The land was revalued at the year end on an open market value basis.

Asset class	Depreciation method and rate
Freehold land	not depreciated
Leasehold property improvements	10 years straight line basis
Plant and machinery	1 to 20 years straight line basis
Motor vehicles	3 to 12 years straight line basis
Office equipment	5 years straight line basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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Attero Recycling Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2014		610,988			610,988
Revaluations		789,326			789,326
Additions		1,793,336			1,793,336
Disposals		(51,500)			(51,500)
At 31 July 2015		3,142,150			3,142,150
Depreciation
At 1 August 2014		39,548			39,548
Charge for the year		98,677			98,677
Eliminated on disposals		(1,650)			(1,650)
At 31 July 2015		136,575			136,575
Net book value
At 31 July 2015		3,005,575			3,005,575
At 31 July 2014		571,440			571,440

Page 4

Attero Recycling Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	31 July 2015						31 July 2014
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

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