HILL METAL RECYCLING LIMITED

HILL METAL RECYCLING LIMITED

HILL METAL RECYCLING LIMITED - Company Information

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HILL METAL RECYCLING LIMITED

Company Registration Number:
04468602 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2018

Period of accounts

Start date: 01 July 2017

End date: 30 June 2018

HILL METAL RECYCLING LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2018

Balance sheet
Notes

HILL METAL RECYCLING LIMITED

Balance sheet

As at 30 June 2018


Notes
2018
2017


£
£
Fixed assets
Tangible assets: 3 252,644 161,707
Total fixed assets: 252,644 161,707
Current assets
Stocks: 60,781 70,016
Debtors:   128,997 210,082
Cash at bank and in hand: 547,310 436,187
Total current assets: 737,088 716,285
Creditors: amounts falling due within one year:   (190,476) (211,411)
Net current assets (liabilities): 546,612 504,874
Total assets less current liabilities: 799,256 666,581
Provision for liabilities: (23,430) (23,430)
Total net assets (liabilities): 775,826 643,151
Capital and reserves
Called up share capital: 100 100
Revaluation reserve:461,00061,000
Profit and loss account: 714,726 582,051
Shareholders funds: 775,826 643,151

The notes form part of these financial statements

HILL METAL RECYCLING LIMITED

Balance sheet statements

For the year ending 30 June 2018 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 19 December 2018
and signed on behalf of the board by:

Name: T Hill
Status: Director

The notes form part of these financial statements

HILL METAL RECYCLING LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:Plant and machinery -25% reducing balanceFixtures and Fittings -33% reducing balanceMotor vehicles -25% reducing balance

Other accounting policies

StocksStocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

HILL METAL RECYCLING LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2018

2. Employees

2018 2017
Average number of employees during the period 5 4

HILL METAL RECYCLING LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2018

3. Tangible Assets

Total
Cost £
At 01 July 2017 403,244
Additions 175,462
At 30 June 2018 578,706
Depreciation
At 01 July 2017 241,537
Charge for year 84,525
At 30 June 2018 326,062
Net book value
At 30 June 2018 252,644
At 30 June 2017 161,707

HILL METAL RECYCLING LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2018

4. Revaluation reserve

2018
£
Balance at 01 July 2017 61,000
Surplus or deficit after revaluation 0
Balance at 30 June 2018 61,000

HILL METAL RECYCLING LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2018

5. Loans to directors

Name of director receiving advance or credit: T Hill
Description of the loan: Loan
£
Balance at 01 July 2017 30,919
Balance at 30 June 2018 30,919

HILL METAL RECYCLING LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2018

6. Related party transactions

Name of the related party: TJ & CV Hill
Relationship:
Partner is a director of the company
Description of the Transaction: During the year, Harlow Metal Recycling Limited made purchases of £2,488 (2017: £61,065) in respect of haulage and sub-contractor services from TJ & CV Hill, a partnership which is controlled by the directors. The company invoiced management fees of £Nil (2017: £Nil)to the partnership and rent of £92,400 (2017: £92,400)was invoiced to the company by the partnership. These transactions were carried out at arms length. At at 30 June 2018 the company was owed by the partnership £115,243.61 (2017: £207,643.61).
£
Balance at 01 July 2017 207,644
Balance at 30 June 2018 115,244