REGISTERED NUMBER: 07247228 (England and Wales)

ABBEY METAL RECYCLING LIMITED

Abbreviated Unaudited Accounts

for the Year Ended 31 July 2016

Page

Company Information

1

Chartered Certified Accountants' Report

2

Abbreviated Balance Sheet

3

to

4

Notes to the Abbreviated Accounts

5

to

7

DIRECTORS:

J A Maguire

Mrs M S Maguire

J R I Maguire

REGISTERED OFFICE:

Britannia Court

5 Moor Street

WORCESTER

Worcestershire

WR1 3DB

REGISTERED NUMBER:

07247228 (England and Wales)

ACCOUNTANTS:

Haines Watts Worcester Limited

Chartered Certified Accountants

Britannia Court

5 Moor Street

WORCESTER

WR1 3DB

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 three to seven)

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 Abbey Metal Recycling Limited for the year ended 31 July 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Abbey Metal 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 Abbey Metal Recycling Limited and state those matters that we have agreed to state to the Board of Directors of Abbey Metal Recycling Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. 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 Abbey Metal 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 Abbey Metal Recycling Limited. You consider that Abbey Metal 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 Abbey Metal 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.

Haines Watts Worcester Limited

Chartered Certified Accountants

Britannia Court

5 Moor Street

WORCESTER

WR1 3DB

2 November 2016

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

289,890

308,373

289,890

308,373

CURRENT ASSETS

Stocks

91,980

72,575

Debtors

85,842

128,250

Cash at bank and in hand

432,331

314,787

610,153

515,612

CREDITORS

Amounts falling due within one year

226,253

157,736

NET CURRENT ASSETS

383,900

357,876

TOTAL ASSETS LESS CURRENT LIABILITIES

673,790

666,249

CREDITORS

Amounts falling due after more than one year

(69,860

)

(43,087

)

PROVISIONS FOR LIABILITIES

(44,339

)

(45,440

)

NET ASSETS

559,591

577,722

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Profit and loss account

558,591

576,722

SHAREHOLDERS' FUNDS

559,591

577,722

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 14 October 2016 and were signed on its behalf by:

J A Maguire - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

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.

Short leasehold

-

20% straight line

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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 recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

65,002

AMORTISATION

At 1 August 2015

and 31 July 2016

65,002

NET BOOK VALUE

At 31 July 2016

-

At 31 July 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

522,052

Additions

45,934

Disposals

(9,000

)

At 31 July 2016

558,986

DEPRECIATION

At 1 August 2015

213,679

Charge for year

62,281

Eliminated on disposal

(6,864

)

At 31 July 2016

269,096

NET BOOK VALUE

At 31 July 2016

289,890

At 31 July 2015

308,373

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

£

1,000

Ordinary

£1

1,000

1,000

5.	CONTROLLING PARTIES