London Rubbish & Junk LTD Accounts

LONDON RUBBISH & JUNK LTD - Company Information






London Rubbish & Junk LTD
	Company No. 09454271
		Information for Filing with The Registrar
		28 February 2017

The Director presents his report and the accounts for the year ended 28 February 2017.

Principal activities
The principal activity of the company during the year under review was Collection of non-hazardous waste.




Director

The Director who served at any time during the year was as follows:

E.F. Ferreira-Vieira



































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

E.F. Ferreira-Vieira
Director
28 February 2018

at	28 February 2017

Company No.		09454271	Notes	2017	2016
				£	£
Fixed assets

	Tangible assets		3	140	187


				140	187
Current assets

	Debtors		4	17,891	8,498

	Cash at bank and in hand			827	99
				18,718	8,597
Creditors: Amount falling due within one year			5	(18,706)	(8,684)
Net current assets/(liabilities)				12	(87)
Total assets less current liabilities				152	100

Provisions for liabilities
	Deferred taxation		6	(27)	-

Net assets				125	100

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		7	25	-

Total equity				125	100


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 28 February 2017 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 28 February 2018

And signed on its behalf by:

E.F. Ferreira-Vieira
Director

for the year ended 28 February 2017

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

25% reducing balance

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2	Employees
			2017	2016
			Number	Number
		The average number of persons employed during the year :	1	0

3	Tangible fixed assets
			Plant and machinery	Total
			£	£
		Cost or revaluation
		At 1 March 2016	250	250




		At 28 February 2017	250	250
		Depreciation
		At 1 March 2016	63	63
		Charge for the year	47	47



		At 28 February 2017	110	110
		Net book values
		At 28 February 2017	140	140
		At 29 February 2016	187	187

4	Debtors
			2017	2016
			£	£


		Corporation tax recoverable	4,388	-



		Other debtors	13,503	8,498

			17,891	8,498

5	Creditors:
		amounts falling due within one year
			2017	2016
			£	£






		Corporation tax	9,909	1,154


		Other creditors	7,100	6,900
		Accruals and deferred income	1,697	630
			18,706	8,684

6	Provisions for liabilities
		Deferred taxation

			Accelerated capital allowances, losses and other timing differences	Arising from revaluation	Total
			£	£	£

		Charge to the profit and loss account for the period	27		27

		At 28 February 2017	27	-	27



			2017		2016
			£		£
		Accelerated capital allowances	27		-



			27		-

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

8	Dividends
			2017	2016
			£	£
		Dividends for the period:
		Dividends paid in the period	17,300	4,802

			17,300	4,802

		Dividends by type:

		Equity dividends	17,300	4,802
			17,300	4,802

9	Advances and credits to directors
		Included within Other debtors are the following loans to directors:

		Director	Description	At 1 March 2016	Advanced	Repaid	At 28 February 2017
				£	£	£	£
		E.F. Ferreira-Vieira	Directors loan account	8,498	34,401	(29,396)	13,503







































				8,498	34,401	(29,396)	13,503

Related party disclosures

2017

2016

Transactions with related parties

Name of related party

Real Products LTD

Description of relationship between the parties

Owned by the company director

Description of transaction and general amounts involved

Intercompany loan account

Amount due from/(to) the related party

(7,100)

(6,900)

Controlling parties

Immediate controlling parties

The company continued to be controlled this year by its director, Mr E F Ferreira-Vieira

Additional information

Its registered number is:

09454271

Its registered office is:

First Floor Offices

County House, Dunswell Road

Cottingham

East Yorkshire

HU16 4JT