H & A Recycling Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07750029 (England and Wales)

H & A Recycling Limited

Abbreviated Unaudited Accounts

for the Year Ended 31 August 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A M Holmes

G K Alway

REGISTERED OFFICE:

48 Cardrew Way

Cardrew Industrial Estate

Redruth

TR15 1SS

REGISTERED NUMBER:

07750029 (England and Wales)

ACCOUNTANTS:

Hodgsons

Chartered Accountants

48 Arwenack Street

Falmouth

Cornwall

TR11 3JH

FIXED ASSETS

Tangible assets

2

4,402,384

4,309,005

CURRENT ASSETS

Stocks

7,650

7,634

Debtors

729,928

877,689

Cash at bank and in hand

165,559

212,014

903,137

1,097,337

CREDITORS

Amounts falling due within one year

3

1,159,281

955,067

NET CURRENT (LIABILITIES)/ASSETS

(256,144

)

142,270

TOTAL ASSETS LESS CURRENT LIABILITIES

4,146,240

4,451,275

CREDITORS

Amounts falling due after more than one year

3

3,808,129

4,237,478

NET ASSETS

338,111

213,797

CAPITAL AND RESERVES

Called up share capital

4

1,000

Profit and loss account

337,111

212,797

SHAREHOLDERS' FUNDS

338,111

213,797

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 21 November 2016 and were signed on its behalf by:

G K Alway - Director

A M Holmes - 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.

Where goods and services have been billed in advance the relevant amounts have been treated as a liability.

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.

Freehold property

-

2% on cost

Improvements to property

-

10% on cost and 2% on cost

Plant and machinery

-

10% on cost and 5% on cost

Fixtures and fittings

-

20% on cost and 10% on cost

Motor vehicles

-

10% on cost

Computer equipment

-

25% on cost

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Deferred tax

Deferred tax is not recognised due to accumulated corporation tax losses.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution scheme. Contributions payable to the company's pension scheme are

charged to the profit and loss account in the period to which they relate. The total cost for the year was £4,802. The

pension creditor at 31st August 2016 was £1,065.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

6,283,623

Additions

484,318

Disposals

(59,018

)

At 31 August 2016

6,708,923

DEPRECIATION

At 1 September 2015

1,974,618

Charge for year

374,826

Eliminated on disposal

(42,905

)

At 31 August 2016

2,306,539

NET BOOK VALUE

At 31 August 2016

4,402,384

At 31 August 2015

4,309,005

3.

CREDITORS

Creditors include an amount of £ 2,061,565 (2015 - £ 2,042,211 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

1

1,000