Allasso Recycling Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 08375924 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 January 2016

for

Allasso Recycling Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

D Trowell

M T Gibbs

L Plant

D Buchanan

SECRETARY:

P A Papworth-Smith

REGISTERED OFFICE:

29 Devizes Road

Swindon

Wiltshire

SN1 4BG

REGISTERED NUMBER:

08375924 (England and Wales)

ACCOUNTANTS:

PPS Chartered Accountants

29 Devizes Road

Swindon

Wiltshire

SN1 4BG

FIXED ASSETS

Tangible assets

2

1,054,726

672,164

CURRENT ASSETS

Debtors

147,335

580,696

Cash at bank

157,993

118,486

305,328

699,182

CREDITORS

Amounts falling due within one year

397,701

611,654

NET CURRENT (LIABILITIES)/ASSETS

(92,373

)

87,528

TOTAL ASSETS LESS CURRENT
LIABILITIES

962,353

759,692

CREDITORS

Amounts falling due after more than one
year

(499,934

)

(318,997

)

PROVISIONS FOR LIABILITIES

(97,396

)

(96,497

)

NET ASSETS

365,023

344,198

CAPITAL AND RESERVES

Called up share capital

3

900

Profit and loss account

364,123

343,298

SHAREHOLDERS' FUNDS

365,023

344,198

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27 October 2016 and were signed on its behalf by:

D Trowell - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost and 10% on cost

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Deferred tax

Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to

pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise, based on

current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in

taxation computations in periods different from those in which they are included in the financial statements.

Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be

recovered. Deferred tax assets and liabilities are not discounted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2015

706,471

Additions

529,312

Disposals

(49,800

)

At 31 January 2016

1,185,983

DEPRECIATION

At 1 February 2015

34,307

Charge for year

104,638

Eliminated on disposal

(7,688

)

At 31 January 2016

131,257

NET BOOK VALUE

At 31 January 2016

1,054,726

At 31 January 2015

672,164

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.16

31.1.15

value:

£

1,000

Ordinary

£1

900

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Allasso Recycling Limited for the year ended 31 January 2016 which comprise the Profit and

Loss Account, the Balance Sheet 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Allasso 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 Allasso Recycling Limited and state those matters that we have agreed to state to the Board of Directors of Allasso Recycling Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Allasso 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 Allasso Recycling Limited. You consider that Allasso 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 Allasso 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.

PPS Chartered Accountants

29 Devizes Road

Swindon

Wiltshire

SN1 4BG

27 October 2016