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REGISTERED NUMBER: 07689965 (England and Wales)















Group Strategic Report, Report of the Directors and

Audited Consolidated Financial Statements for the Year Ended 28 February 2023

for

Tardis Environmental
UK (Holdings) Limited

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)






Contents of the Consolidated Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


Tardis Environmental
UK (Holdings) Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mr R Boydon
Mrs K Collier
Mr C Boydon
Mr A Boydon



SECRETARY: Mrs J Causer



REGISTERED OFFICE: Site 4
Halesfield 21
Telford
Shropshire
TF7 4PA



REGISTERED NUMBER: 07689965 (England and Wales)



AUDITORS: Lewis Smith & Co.
Chartered Certified Accountants
Statutory Auditors
The Old Doctor's House
74 Grange Road
Dudley
West Midlands
DY1 2AW



BANKERS: Coutts & Co
440 Strand
London
WC2R 0QS

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Group Strategic Report
for the Year Ended 28 February 2023

The directors present their strategic report of the company and the group for the year ended 28 February 2023.

The group has continued to maintain improved performance through the year ended 28 February 2023. Sales have increased by 10.4% to £34.45m from £31.2m in the previous year. The gross profit achieved by the company has also improved to £24.9m from £23.3m in the previous year a rise of 6.83%.

REVIEW OF BUSINESS
We have continued to invest heavily in new plant and vehicles to replace old and add new, we have also been looking at new areas of the UK to expand operationally.

Staff training has been a big part of our focus be it management with Neebosh health and safety, Transport CPC manager right through to appointed persons for safe lifting, drivers CPC and other relevant occupational training to support our ever-growing workforce.

We have reviewed all rates of pay across all staff to ensure we maintain our workforce and with higher-than-average wages available we also look to attract new staff.

With new depots in new areas, we are focusing on being able to offer a one stop shop for our customers need no mater where they require our services in the UK.

We have invested heavily in solar power at head office and electric vehicles in order to reduce our environmental impact through our day-to-day activities.

PRINCIPAL RISKS AND UNCERTAINTIES
As a group, we intend to limit our risks through better management of the key elements of the business, i.e. Employment Law, Health & Safety Law and Transport Law, linked to better training of the workforce.

ON BEHALF OF THE BOARD:





Mr R Boydon - Director


2 October 2023

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Report of the Directors
for the Year Ended 28 February 2023

The directors present their report with the financial statements of the company and the group for the year ended 28 February 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of sanitisation services on construction sites and plant hire.

DIVIDENDS
No interim dividends were paid during the year on any of the shares.

The directors recommend a final dividend per share as follows:
Ordinary 0.1p - £661.77
Ordinary A 0.1p - £29238.84
Ordinary B 0.1p - £641.49
Ordinary C 0.1p - 162127.58

The total distribution of dividends for the year ended 28 February 2023 will be £ 7,849,195 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2022 to the date of this report.

Mr R Boydon
Mrs K Collier
Mr C Boydon
Mr A Boydon

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Report of the Directors
for the Year Ended 28 February 2023


AUDITORS
The auditors, Lewis Smith & Co., will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr R Boydon - Director


2 October 2023

Report of the Independent Auditors to the Members of
Tardis Environmental
UK (Holdings) Limited

Opinion
We have audited the financial statements of Tardis Environmental UK (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 28 February 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 28 February 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
Tardis Environmental
UK (Holdings) Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Tardis Environmental
UK (Holdings) Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit.

We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

- Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Tardis Environmental
UK (Holdings) Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Craig Beale (Senior Statutory Auditor)
for and on behalf of Lewis Smith & Co.
Chartered Certified Accountants
Statutory Auditors
The Old Doctor's House
74 Grange Road
Dudley
West Midlands
DY1 2AW

2 October 2023

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Consolidated Income Statement
for the Year Ended 28 February 2023

28.2.23 28.2.22
Notes £    £   

TURNOVER 34,459,066 31,207,832

Cost of sales 9,529,651 7,923,833
GROSS PROFIT 24,929,415 23,283,999

Administrative expenses 11,764,256 9,100,695
13,165,159 14,183,304

Other operating income 76,091 105,211
OPERATING PROFIT 4 13,241,250 14,288,515

Interest receivable and similar income 51,785 8,463
13,293,035 14,296,978

Interest payable and similar expenses 5 8 455
PROFIT BEFORE TAXATION 13,293,027 14,296,523

Tax on profit 6 2,620,117 2,682,118
PROFIT FOR THE FINANCIAL YEAR 10,672,910 11,614,405
Profit attributable to:
Owners of the parent 10,672,910 11,614,405

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Consolidated Other Comprehensive Income
for the Year Ended 28 February 2023

28.2.23 28.2.22
Notes £    £   

PROFIT FOR THE YEAR 10,672,910 11,614,405


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

10,672,910

11,614,405

Total comprehensive income attributable to:
Owners of the parent 10,672,910 11,614,405

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Consolidated Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 9,664,424 9,928,900
Investments 10 690,209 690,209
Investment property 11 1,464,893 1,464,893
11,819,526 12,084,002

CURRENT ASSETS
Stocks 12 56,036 58,276
Debtors 13 6,819,258 5,980,564
Cash at bank and in hand 17,713,154 13,881,200
24,588,448 19,920,040
CREDITORS
Amounts falling due within one year 14 3,369,152 2,181,871
NET CURRENT ASSETS 21,219,296 17,738,169
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,038,822

29,822,171

PROVISIONS FOR LIABILITIES 17 1,181,497 788,561
NET ASSETS 31,857,325 29,033,610

CAPITAL AND RESERVES
Called up share capital 18 2 2
Share premium 19 10,974 10,974
Consolidation reserve 19 3,980,341 3,980,341
Retained earnings 19 27,866,008 25,042,293
SHAREHOLDERS' FUNDS 31,857,325 29,033,610

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2023 and were signed on its behalf by:





Mr R Boydon - Director


Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Company Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 7,785,387 8,323,098
Investments 10 690,211 690,211
Investment property 11 1,464,893 1,464,893
9,940,491 10,478,202

CURRENT ASSETS
Debtors 13 7,782,113 4,914,410
Cash at bank 12,558,381 11,290,611
20,340,494 16,205,021
CREDITORS
Amounts falling due within one year 14 175,098 223,524
NET CURRENT ASSETS 20,165,396 15,981,497
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,105,887

26,459,699

PROVISIONS FOR LIABILITIES 17 805,914 576,631
NET ASSETS 29,299,973 25,883,068

CAPITAL AND RESERVES
Called up share capital 18 2 2
Share premium 19 10,974 10,974
Retained earnings 19 29,288,997 25,872,092
SHAREHOLDERS' FUNDS 29,299,973 25,883,068

Company's profit for the financial year 11,266,100 11,289,178

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2023 and were signed on its behalf by:





Mr R Boydon - Director


Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Consolidated Statement of Changes in Equity
for the Year Ended 28 February 2023

Called up
share Retained Share Consolidation Total
capital earnings premium reserve equity
£    £    £    £    £   

Balance at 1 March 2021 2 16,563,735 10,974 3,980,341 20,555,052

Changes in equity
Dividends - (3,135,847 ) - - (3,135,847 )
Total comprehensive income - 11,614,405 - - 11,614,405
Balance at 28 February 2022 2 25,042,293 10,974 3,980,341 29,033,610

Changes in equity
Dividends - (7,849,195 ) - - (7,849,195 )
Total comprehensive income - 10,672,910 - - 10,672,910
Balance at 28 February 2023 2 27,866,008 10,974 3,980,341 31,857,325

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Company Statement of Changes in Equity
for the Year Ended 28 February 2023

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   

Balance at 1 March 2021 2 17,718,761 10,974 17,729,737

Changes in equity
Dividends - (3,135,847 ) - (3,135,847 )
Total comprehensive income - 11,289,178 - 11,289,178
Balance at 28 February 2022 2 25,872,092 10,974 25,883,068

Changes in equity
Dividends - (7,849,195 ) - (7,849,195 )
Total comprehensive income - 11,266,100 - 11,266,100
Balance at 28 February 2023 2 29,288,997 10,974 29,299,973

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Consolidated Cash Flow Statement
for the Year Ended 28 February 2023

28.2.23 28.2.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 15,441,348 16,598,190
Interest paid (8 ) (455 )
Tax paid (1,379,865 ) (2,376,745 )
Net cash from operating activities 14,061,475 14,220,990

Cash flows from investing activities
Purchase of tangible fixed assets (3,763,821 ) (2,842,355 )
Purchase of fixed asset investments - (1,000 )
Purchase of investment property - (639,246 )
Sale of tangible fixed assets 1,306,811 896,975
Interest received 51,785 8,463
Net cash from investing activities (2,405,225 ) (2,577,163 )

Cash flows from financing activities
Amount introduced by directors 49,799 31,081
Amount withdrawn by directors (24,900 ) (42,945 )
Equity dividends paid (7,849,195 ) (3,135,847 )
Net cash from financing activities (7,824,296 ) (3,147,711 )

Increase in cash and cash equivalents 3,831,954 8,496,116
Cash and cash equivalents at beginning of
year

2

13,881,200

5,385,084

Cash and cash equivalents at end of year 2 17,713,154 13,881,200

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 28 February 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
28.2.23 28.2.22
£    £   
Profit before taxation 13,293,027 14,296,523
Depreciation charges 2,334,227 1,756,470
Profit on disposal of fixed assets (635,519 ) (499,585 )
Impairment of tangible fixed assets 1,022,778 -
Finance costs 8 455
Finance income (51,785 ) (8,463 )
15,962,736 15,545,400
Decrease/(increase) in stocks 2,240 (9,135 )
(Increase)/decrease in trade and other debtors (842,511 ) 952,567
Increase in trade and other creditors 318,883 109,358
Cash generated from operations 15,441,348 16,598,190

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 28 February 2023
28.2.23 1.3.22
£    £   
Cash and cash equivalents 17,713,154 13,881,200
Year ended 28 February 2022
28.2.22 1.3.21
£    £   
Cash and cash equivalents 13,881,200 5,385,084


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.3.22 Cash flow At 28.2.23
£    £    £   
Net cash
Cash at bank and in hand 13,881,200 3,831,954 17,713,154
13,881,200 3,831,954 17,713,154
Total 13,881,200 3,831,954 17,713,154

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Notes to the Consolidated Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Tardis Environmental UK (Holdings) 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 General Information page.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The group does not have any significant judgements or estimates in their accounts.

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

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from the hire of equipment is recognised when the asset is hired in advance for the minimum hire period. Turnover from tank empties and all other services are recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Interest and rent received
Interest income is recognised using the effective interest method. Rent receivable is recognised as the
company's right to receive payment is established.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 2% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Other Investments
Other investments are measured at cost less impairment.

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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
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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Basic financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. The company does not have any other basic financial instruments.

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

3. EMPLOYEES AND DIRECTORS
28.2.23 28.2.22
£    £   
Wages and salaries 6,816,438 6,024,163
Social security costs 753,593 617,409
Other pension costs 114,023 107,399
7,684,054 6,748,971

The average number of employees during the year was as follows:
28.2.23 28.2.22

Employees 177 168

28.2.23 28.2.22
£    £   
Directors' remuneration 374,698 353,179
Directors' pension contributions to money purchase schemes 4,377 4,375

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 4 4

Information regarding the highest paid director is as follows:
28.2.23 28.2.22
£    £   
Emoluments etc 130,000 130,000

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

28.2.23 28.2.22
£    £   
Hire of plant and machinery 319,135 306,585
Other operating leases 529,615 489,378
Depreciation - owned assets 2,334,225 1,756,469
Profit on disposal of fixed assets (635,519 ) (499,585 )
Auditors' remuneration 20,355 17,950

5. INTEREST PAYABLE AND SIMILAR EXPENSES
28.2.23 28.2.22
£    £   
Interest on late tax payments 8 455

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
28.2.23 28.2.22
£    £   
Current tax:
UK corporation tax 2,227,181 2,230,883

Deferred tax 392,936 451,235
Tax on profit 2,620,117 2,682,118

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

28.2.23 28.2.22
£    £   
Profit before tax 13,293,027 14,296,523
Profit multiplied by the standard rate of corporation tax in the UK of 19 %
(2022 - 19 %)

2,525,675

2,716,339

Effects of:
Expenses not deductible for tax purposes 197,587 3,720
Income not taxable for tax purposes (120,749 ) (94,921 )
Capital allowances in excess of depreciation (390,400 ) (394,255 )
Deferred tax 392,936 451,235
Chargeable gain 15,068 -
Total tax charge 2,620,117 2,682,118

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

8. DIVIDENDS
28.2.23 28.2.22
£    £   
Ordinary shares of 0.1p each
Interim dividends 1,177,959 2,326,547
Ordinary A shares of 0.1p each
Interim dividends 5,847,768 10,124
Ordinary B shares of 0.1p each
Interim dividends 12,830 35,451
Ordinary C shares of 0.1p each
Interim dividends 810,638 763,725
7,849,195 3,135,847

9. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 March 2022 2,984,447 21,786 9,490,410
Additions 32,740 - 2,023,961
Disposals (288,150 ) - (512,763 )
Impairments - - (2,915,218 )
At 28 February 2023 2,729,037 21,786 8,086,390
DEPRECIATION
At 1 March 2022 38,824 18,380 5,650,073
Charge for year 8,253 852 1,144,453
Eliminated on disposal (8,772 ) - (245,117 )
Impairments - - (1,892,439 )
At 28 February 2023 38,305 19,232 4,656,970
NET BOOK VALUE
At 28 February 2023 2,690,732 2,554 3,429,420
At 28 February 2022 2,945,623 3,406 3,840,337

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

9. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2022 6,657,125 676,862 19,830,630
Additions 1,687,414 19,706 3,763,821
Disposals (496,696 ) - (1,297,609 )
Impairments - - (2,915,218 )
At 28 February 2023 7,847,843 696,568 19,381,624
DEPRECIATION
At 1 March 2022 3,637,089 557,364 9,901,730
Charge for year 1,145,816 34,851 2,334,225
Eliminated on disposal (372,427 ) - (626,316 )
Impairments - - (1,892,439 )
At 28 February 2023 4,410,478 592,215 9,717,200
NET BOOK VALUE
At 28 February 2023 3,437,365 104,353 9,664,424
At 28 February 2022 3,020,036 119,498 9,928,900

Included in cost of land and buildings is freehold land of £665,775 (2022 - £665,775) which is not depreciated.

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

9. TANGIBLE FIXED ASSETS - continued

Company
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 March 2022 2,984,447 6,478,571 5,715,607 15,178,625
Additions 32,740 1,233,871 565,314 1,831,925
Disposals (288,150 ) (512,763 ) (347,596 ) (1,148,509 )
At 28 February 2023 2,729,037 7,199,679 5,933,325 15,862,041
DEPRECIATION
At 1 March 2022 38,824 3,751,132 3,065,571 6,855,527
Charge for year 8,253 924,397 775,149 1,707,799
Eliminated on disposal (8,772 ) (245,117 ) (232,783 ) (486,672 )
At 28 February 2023 38,305 4,430,412 3,607,937 8,076,654
NET BOOK VALUE
At 28 February 2023 2,690,732 2,769,267 2,325,388 7,785,387
At 28 February 2022 2,945,623 2,727,439 2,650,036 8,323,098

Included in cost of land and buildings is freehold land of £ 665,775 (2022 - £ 665,775 ) which is not depreciated.

10. FIXED ASSET INVESTMENTS

Group Company
28.2.23 28.2.22 28.2.23 28.2.22
£    £    £    £   
Shares in group undertakings - - 2 2
Other investments not loans 690,209 690,209 690,209 690,209
690,209 690,209 690,211 690,211

Additional information is as follows:

Group

Investments (neither listed nor unlisted) were as follows:
28.2.23 28.2.22
£    £   
Classic car fleet cost 690,209 689,209
Classic car fleet additions - 1,000
690,209 690,209

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

10. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group
undertakings
£   
COST
At 1 March 2022
and 28 February 2023 2
NET BOOK VALUE
At 28 February 2023 2
At 28 February 2022 2

Investments (neither listed nor unlisted) were as follows:
28.2.23 28.2.22
£    £   
Classic car fleet cost 690,209 689,209
Classic car fleet additions - 1,000
690,209 690,209

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Tardis Environmental UK Limited
Registered office: Site 4, Halesfield 21, Telford, Shropshire, TF7 4PA, England.
Nature of business: Sanitisation services on construction sites.
%
Class of shares: holding
Ordinary £1 shares 100.00
Ordinary £1 A & B shares 100.00
28.2.23 28.2.22
£    £   
Aggregate capital and reserves 2,509,111 2,286,445
Profit for the year 11,472,766 11,788,501

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

10. FIXED ASSET INVESTMENTS - continued

Tardis Install Limited
Registered office: Site 4, Halesfield 21, Telford, Shropshire, TF7 4PA, England.
Nature of business: Construction of Utility Projects
%
Class of shares: holding
Ordinary £0.01 shares 100.00
28.2.23 28.2.22
£    £   
Aggregate capital and reserves 48,143 36,728
Profit for the year 11,415 36,727


The directors believe that the original cost of fixed asset investments remains representative of their value in the accounts.

11. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 1,464,893
NET BOOK VALUE
At 28 February 2023 1,464,893
At 28 February 2022 1,464,893

The directors believe that the original cost of investments properties remains representative of their value in the accounts.

Company
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 1,464,893
NET BOOK VALUE
At 28 February 2023 1,464,893
At 28 February 2022 1,464,893

The directors believe that the original cost of investments properties remains representative of their value in the accounts.

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

12. STOCKS

Group
28.2.23 28.2.22
£    £   
Stocks 56,036 58,276

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
28.2.23 28.2.22 28.2.23 28.2.22
£    £    £    £   
Trade debtors 6,411,295 5,580,301 - -
Amounts owed by group undertakings - - 7,635,768 4,740,248
Other debtors 227,873 253,649 146,345 170,345
Directors' current accounts - 3,817 - 3,817
Prepayments and accrued income 180,090 142,797 - -
6,819,258 5,980,564 7,782,113 4,914,410

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
28.2.23 28.2.22 28.2.23 28.2.22
£    £    £    £   
Trade creditors 1,276,099 1,136,435 33,333 77,622
Tax 885,600 38,284 - -
Social security and other taxes 137,760 121,024 12,860 11,784
VAT 702,308 646,311 43,471 72,196
Other creditors 237,198 169,080 53,853 53,373
Directors' current accounts 23,581 2,499 23,581 2,499
Accruals and deferred income 106,606 68,238 8,000 6,050
3,369,152 2,181,871 175,098 223,524

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
28.2.23 28.2.22
£    £   
Within one year 403,297 381,463
Between one and five years 979,863 771,577
In more than five years 298,750 396,250
1,681,910 1,549,290

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

16. SECURED DEBTS

There are two rent security deposit charges in place in favour of Chrisfys Properties Limited. One for £6,000 dated 28th September 2012 and one for £3,120 dated 8th March 2013.

17. PROVISIONS FOR LIABILITIES

Group Company
28.2.23 28.2.22 28.2.23 28.2.22
£    £    £    £   
Deferred tax 1,181,497 788,561 805,914 576,631

Group
Deferred
tax
£   
Balance at 1 March 2022 788,561
Charge to Income Statement during year 392,936
Balance at 28 February 2023 1,181,497

Company
Deferred
tax
£   
Balance at 1 March 2022 576,631
Charge to Statement of Comprehensive Income during year 229,283
Balance at 28 February 2023 805,914

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
1,780 Ordinary 0.1p 2 2
200 Ordinary A 0.1p - -
20 Ordinary B 0.1p - -
5 Ordinary C 0.1p - -
2 2

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

19. RESERVES

Group
Retained Share Consolidation
earnings premium reserve Totals
£    £    £    £   

At 1 March 2022 25,042,293 10,974 3,980,341 29,033,608
Profit for the year 10,672,910 - - 10,672,910
Dividends (7,849,195 ) - - (7,849,195 )
At 28 February 2023 27,866,008 10,974 3,980,341 31,857,323

Company
Retained Share
earnings premium Totals
£    £    £   

At 1 March 2022 25,872,092 10,974 25,883,066
Profit for the year 11,266,100 - 11,266,100
Dividends (7,849,195 ) - (7,849,195 )
At 28 February 2023 29,288,997 10,974 29,299,971


20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
C Boydon
Balance outstanding at start of year 3,817 -
Amounts advanced - 3,817
Amounts repaid (3,817 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 3,817

21. RELATED PARTY DISCLOSURES

Key management personnel of the entity or its parent (in the aggregate)
28.2.23 28.2.22
£    £   
Dividends paid 2,001,427 3,125,722
Amount due to related party 43,500 43,500

Tardis Environmental
UK (Holdings) Limited (Registered number: 07689965)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 28 February 2023

21. RELATED PARTY DISCLOSURES - continued

Other related parties
28.2.23 28.2.22
£    £   
Dividends paid (a discretionary trust of the directors and family members) 5,847,768 10,124

The directors are considered to be the only decision making key management personnel of the group.

22. ULTIMATE CONTROLLING PARTY

The controlling party is Mr C Boydon.