Allasso Recycling Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08375924 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2017

for

Allasso Recycling Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

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

4

1,233,217

1,054,726

CURRENT ASSETS

Debtors

5

245,331

147,335

Cash at bank

37,653

157,993

282,984

305,328

CREDITORS

Amounts falling due within one year

6

600,693

397,701

NET CURRENT LIABILITIES

(317,709

)

(92,373

)

TOTAL ASSETS LESS CURRENT LIABILITIES

915,508

962,353

CREDITORS

Amounts falling due after more than one year

7

(580,821

)

(499,934

)

PROVISIONS FOR LIABILITIES

9

(55,723

)

(97,396

)

NET ASSETS

278,964

365,023

CAPITAL AND RESERVES

Called up share capital

10

900

900

Retained earnings

11

278,064

364,123

SHAREHOLDERS' FUNDS

278,964

365,023

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 29 September 2017 and were signed on its behalf by:

D Trowell - Director

1.	STATUTORY INFORMATION

Allasso 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 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

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

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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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

lease.

Presentation currency

The financial statements are presented in £ sterling, which is also the functional currency of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2016

1,185,983

Additions

332,180

Disposals

(2,600

)

At 31 January 2017

1,515,563

DEPRECIATION

At 1 February 2016

131,257

Charge for year

152,281

Eliminated on disposal

(1,192

)

At 31 January 2017

282,346

NET BOOK VALUE

At 31 January 2017

1,233,217

At 31 January 2016

1,054,726

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 February 2016

792,000

Additions

332,180

At 31 January 2017

1,124,180

DEPRECIATION

At 1 February 2016

70,717

Charge for year

109,580

At 31 January 2017

180,297

NET BOOK VALUE

At 31 January 2017

943,883

At 31 January 2016

721,283

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Trade debtors

149,631

134,534

Other debtors

95,700

12,801

245,331

147,335

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Hire purchase contracts

189,707

121,155

Trade creditors

168,132

100,258

Taxation and social security

9,102

26,297

Other creditors

233,752

149,991

600,693

397,701

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.17

31.1.16

£

£

Hire purchase contracts

547,671

465,989

Other creditors

33,150

33,945

580,821

499,934

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.17

31.1.16

£

£

Hire purchase contracts

737,378

587,144

Hire purchase liabilities are secured on the assets being financed.

9.	PROVISIONS FOR LIABILITIES

31.1.17

31.1.16

£

£

Deferred tax

Accelerated capital allowances

196,859

176,602

Tax losses carried forward

(141,136

)

(79,206

)

55,723

97,396

Deferred

tax

£

Balance at 1 February 2016

97,396

Accelerated Capital Allowances

20,257

Tax Losses Carried Forward

(61,930

)

Balance at 31 January 2017

55,723

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.17

31.1.16

value:

£

£

1,000

Ordinary

£1

900

900

11.

RESERVES

Retained

earnings

£

At 1 February 2016

364,123

Deficit for the year

(86,059

)

At 31 January 2017

278,064

12.	RELATED PARTY DISCLOSURES

MT Gibbs

Director and Shareholder

Amount due to related party at the balance sheet date £9,775 (2016 £9,775)

D Buchanan

Director and Shareholder

Amount due to related party at the balance sheet date £28,951 (2016 £12,558)

Asphalt Recycling UK Limited

A company in which MT Gibbs is a director

During the year the company conducted arms length transactions with Asphalt Recycling UK Limited of:

Sales £39,142 (2016 £53,500)

Purchases £9,454 (2016 £9,531)

Amount due to related party at the balance sheet date £35,000 (2016 £10,000)

Roadpave Recycling Limited

A company with directors and shareholders in common

During the year the company conducted arms length transactions with Roadpave Recycling Limited of:

Sales £13,129 (2016 £Nil)

Amount due from related party at the balance sheet date £3,900 (2016 £Nil)

13.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.

14.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102. The last financial statements

under previous UK GAAP were for the year ended 31 January 2016 and the date of transition to FRS 102 was 1

February 2015. No changes in accounting policies were required and consequently profit for the year ended 31

January 2016 and total equity as at 1 February 2015 and 31 January 2016 remained the same between UK GAAP

as previously reported and under FRS 102 in these financial statements.

The following reproduces the text of the report prepared for the directors and members 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 Allasso Recycling Limited for the year ended 31 January 2017 which comprise the Income

Statement, 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 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 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 ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Allasso Recycling Limited 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 loss 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

29 September 2017