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REGISTERED NUMBER: 03952298 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE PERIOD

1 SEPTEMBER 2021 TO 31 DECEMBER 2021

FOR

SHREDHOUSE LIMITED

SHREDHOUSE LIMITED (REGISTERED NUMBER: 03952298)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 1 September 2021 to 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SHREDHOUSE LIMITED

COMPANY INFORMATION
for the period 1 September 2021 to 31 December 2021







DIRECTORS: G.J. Ashe
Dr B.G. McInnes
M-B. Ashe





SECRETARY: M-B. Ashe





REGISTERED OFFICE: 186 Torrington Avenue
Tile Hill
Coventry
CV4 9AJ





REGISTERED NUMBER: 03952298 (England and Wales)





AUDITORS: Dafferns LLP
Chartered Accountants
Statutory Auditor
One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB

SHREDHOUSE LIMITED (REGISTERED NUMBER: 03952298)

BALANCE SHEET
31 December 2021

2021 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - 259,635

CURRENT ASSETS
Stocks - 225,953
Debtors 6 1,223,817 371,197
Cash at bank - 868,674
1,223,817 1,465,824
CREDITORS
Amounts falling due within one year 7 - 446,755
NET CURRENT ASSETS 1,223,817 1,019,069
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,223,817

1,278,704

PROVISIONS FOR LIABILITIES - 54,887
NET ASSETS 1,223,817 1,223,817

CAPITAL AND RESERVES
Called up share capital 9 300 300
Retained earnings 1,223,517 1,223,517
SHAREHOLDERS' FUNDS 1,223,817 1,223,817

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2022 and were signed on its behalf by:





M-B. Ashe - Director


SHREDHOUSE LIMITED (REGISTERED NUMBER: 03952298)

NOTES TO THE FINANCIAL STATEMENTS
for the period 1 September 2021 to 31 December 2021

1. STATUTORY INFORMATION

Shredhouse 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The company was dormant throughout the period ended 31 December 2021. However, reference to information relating to the period ended 31 August 2021 has been made where appropriate.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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
Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses.

Repairs and maintenance costs are charged to the statement of comprehensive income in the period in which they are incurred.

Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life.

Long leasehold property5% straight line
Canopy10% straight line
Plant & machinery15% reducing balance
Fixtures fittings & equipment15% reducing balance
Website15% reducing balance

Any gains and losses on the disposal of tangible fixed assets are recognised in the statement of comprehensive income in the year that the disposal takes place.

SHREDHOUSE LIMITED (REGISTERED NUMBER: 03952298)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 September 2021 to 31 December 2021

3. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not
recognised until there is reasonable assurance that the company will comply with the conditions
attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis
over the periods in which the company recognises the related costs for which the grant is intended to
compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are
recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life
of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income
and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance-related
conditions on the recipient, it is recognised in income when the grant proceeds are received or
receivable. Where the grant does impose specified future performance-related conditions on the
recipient, it is recognised in income only when the performance-related conditions have been met.
Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a
liability.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs in bringing the product to its current location and condition.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

SHREDHOUSE LIMITED (REGISTERED NUMBER: 03952298)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 September 2021 to 31 December 2021

3. ACCOUNTING POLICIES - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction value. Any losses arising from impairment are recognised in the statement of comprehensive income in administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2021 - 21 ).

5. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 September 2021 11,000 36,017 348,718
Transfer on acquisition (11,000 ) (36,017 ) (348,718 )
At 31 December 2021 - - -
DEPRECIATION
At 1 September 2021 11,000 15,309 168,532
Transfer on acquisition (11,000 ) (15,309 ) (168,532 )
At 31 December 2021 - - -
NET BOOK VALUE
At 31 December 2021 - - -
At 31 August 2021 - 20,708 180,186

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2021 87,960 6,290 489,985
Transfer on acquisition (87,960 ) (6,290 ) (489,985 )
At 31 December 2021 - - -
DEPRECIATION
At 1 September 2021 31,621 3,888 230,350
Transfer on acquisition (31,621 ) (3,888 ) (230,350 )
At 31 December 2021 - - -
NET BOOK VALUE
At 31 December 2021 - - -
At 31 August 2021 56,339 2,402 259,635

SHREDHOUSE LIMITED (REGISTERED NUMBER: 03952298)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 September 2021 to 31 December 2021

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2021
£    £   
Trade debtors - 203,913
Amounts owed by group undertakings 1,223,817 -
Other debtors - 167,284
1,223,817 371,197

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2021
£    £   
Trade creditors - 213,039
Social security and other taxes - 214,744
Other creditors - 18,972
- 446,755

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2021 2021
£    £   
Within one year - 5,131
Between one and five years - 12,706
- 17,837

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2021
value: £    £   
300 Ordinary £1 300 300

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Gibbs FCCA (Senior Statutory Auditor)
for and on behalf of Dafferns LLP

SHREDHOUSE LIMITED (REGISTERED NUMBER: 03952298)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 September 2021 to 31 December 2021

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the periods ended 31 December 2021 and 31 August 2021:

2021 2021
£    £   
Mrs J A Stephens-Cosford
Balance outstanding at start of period 58,373 58,007
Amounts advanced - 366
Amounts repaid (58,373 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 58,373

The loan was unsecured and interest of £nil (31.08.2021 £366) has been charged in the period. The outstanding balance at the period ended 31st December 2021 is £nil (31.08.2021 £58,373) and was repayable on demand.

12. ULTIMATE PARENT COMPANY

On 1st September 2021, the Company was acquired by Kite Packaging Limited and is now a wholly-owned subsidiary of Kite Packaging Limited and its ultimate parent company is Kite Packaging Group Holdings Limited (KPGH).

The registered office and principal place of business of KPGH is 186 Torrington Avenue, Tile Hill, Coventry, West Midlands, UK, CV4 9AJ.