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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 29 February 2024

for

Tardis Environmental
UK (Holdings) Limited

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






Contents of the Consolidated Financial Statements
for the Year Ended 29 February 2024




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 29 February 2024







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



BANKERS: Hsbc Uk Bank Plc
The Bridge
Walsall
WS1 1LN

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

Group Strategic Report
for the Year Ended 29 February 2024

The directors present their strategic report of the company and the group for the year ended 29 February 2024.

The group has continued to maintain improved performance through the year ended 28 February 2024. Sales have increased by 1.2% to £34.8m from £34.4m in the previous year. However, the gross profit achieved by the company has fallen to £23.3m from £24.9m. This is due to an increase in costs during the year.

REVIEW OF BUSINESS
In this year we have have in this period expanded our depots operationally with additions in areas that we intend to grow.

We have also continued investment in new plant and equipment plus additional investment in vehicles to support our operation

Staffing levels have remained steady with no real growth there.

Our product range has been increasing to allow us to offer more on site solutions to customers.

Our aim is to continue to invest and with aggressive sales look to increase our market share moving forward.

We have also purchased new property during the year, both for use and investment.

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


9 October 2024

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

Report of the Directors
for the Year Ended 29 February 2024

The directors present their report with the financial statements of the company and the group for the year ended 29 February 2024.

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
Interim dividends were paid during the year on each class of share as follows:

Ordinary 0.1p shares £359,787
Ordinary A 0.1p shares £2,847,722
Ordinary B 0.1p shares £204,722
Ordinary C 0.1p shares £744,431

No final dividends are to be paid.

Therefore the total distribution of dividends for the year ended 29 February 2024 will be £4,156,662.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2023 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.

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

Report of the Directors
for the Year Ended 29 February 2024


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.

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


9 October 2024

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 29 February 2024 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 29 February 2024 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

9 October 2024

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

Consolidated Income Statement
for the Year Ended 29 February 2024

29.2.24 28.2.23
Notes £    £   

TURNOVER 3 34,826,920 34,459,066

Cost of sales 11,471,457 9,529,651
GROSS PROFIT 23,355,463 24,929,415

Administrative expenses 11,217,238 11,764,256
12,138,225 13,165,159

Other operating income 471,639 76,091
OPERATING PROFIT 5 12,609,864 13,241,250

Interest receivable and similar income 414,830 51,785
13,024,694 13,293,035

Interest payable and similar expenses 6 996 8
PROFIT BEFORE TAXATION 13,023,698 13,293,027

Tax on profit 7 2,915,064 2,620,117
PROFIT FOR THE FINANCIAL YEAR 10,108,634 10,672,910
Profit attributable to:
Owners of the parent 10,108,634 10,672,910

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

Consolidated Other Comprehensive Income
for the Year Ended 29 February 2024

29.2.24 28.2.23
Notes £    £   

PROFIT FOR THE YEAR 10,108,634 10,672,910


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

10,108,634

10,672,910

Total comprehensive income attributable to:
Owners of the parent 10,108,634 10,672,910

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

Consolidated Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 10,391,824 9,664,424
Investments 11 690,209 690,209
Investment property 12 3,833,060 1,464,893
14,915,093 11,819,526

CURRENT ASSETS
Stocks 13 58,798 56,036
Debtors 14 7,356,719 6,819,258
Cash at bank and in hand 20,601,221 17,713,154
28,016,738 24,588,448
CREDITORS
Amounts falling due within one year 15 4,080,055 3,369,152
NET CURRENT ASSETS 23,936,683 21,219,296
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,851,776

33,038,822

PROVISIONS FOR LIABILITIES 17 1,042,479 1,181,497
NET ASSETS 37,809,297 31,857,325

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 33,817,980 27,866,008
SHAREHOLDERS' FUNDS 37,809,297 31,857,325

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:





Mr R Boydon - Director


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

Company Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 8,996,606 7,785,387
Investments 11 690,211 690,211
Investment property 12 3,833,060 1,464,893
13,519,877 9,940,491

CURRENT ASSETS
Debtors 14 3,151,017 7,782,113
Cash at bank 19,459,655 12,558,381
22,610,672 20,340,494
CREDITORS
Amounts falling due within one year 15 146,899 175,098
NET CURRENT ASSETS 22,463,773 20,165,396
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,983,650

30,105,887

PROVISIONS FOR LIABILITIES 17 776,374 805,914
NET ASSETS 35,207,276 29,299,973

CAPITAL AND RESERVES
Called up share capital 18 2 2
Share premium 19 10,974 10,974
Retained earnings 19 35,196,300 29,288,997
SHAREHOLDERS' FUNDS 35,207,276 29,299,973

Company's profit for the financial year 10,063,965 11,266,100

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2024 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 29 February 2024

Called up
share Retained Share Consolidation Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 March 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

Changes in equity
Dividends - (4,156,662 ) - - (4,156,662 )
Total comprehensive income - 10,108,634 - - 10,108,634
Balance at 29 February 2024 2 33,817,980 10,974 3,980,341 37,809,297

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

Company Statement of Changes in Equity
for the Year Ended 29 February 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 March 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

Changes in equity
Dividends - (4,156,662 ) - (4,156,662 )
Total comprehensive income - 10,063,965 - 10,063,965
Balance at 29 February 2024 2 35,196,300 10,974 35,207,276

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

Consolidated Cash Flow Statement
for the Year Ended 29 February 2024

29.2.24 28.2.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 13,462,468 15,441,348
Interest paid (996 ) (8 )
Tax paid (2,332,738 ) (1,379,865 )
Net cash from operating activities 11,128,734 14,061,475

Cash flows from investing activities
Purchase of tangible fixed assets (4,110,339 ) (3,763,821 )
Purchase of investment property (1,340,619 ) -
Sale of tangible fixed assets 952,057 1,306,811
Interest received 414,830 51,785
Net cash from investing activities (4,084,071 ) (2,405,225 )

Cash flows from financing activities
Amount introduced by directors 398,216 49,799
Amount withdrawn by directors (398,150 ) (24,900 )
Equity dividends paid (4,156,662 ) (7,849,195 )
Net cash from financing activities (4,156,596 ) (7,824,296 )

Increase in cash and cash equivalents 2,888,067 3,831,954
Cash and cash equivalents at beginning of
year

2

17,713,154

13,881,200

Cash and cash equivalents at end of year 2 20,601,221 17,713,154

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

Notes to the Consolidated Cash Flow Statement
for the Year Ended 29 February 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
29.2.24 28.2.23
£    £   
Profit before taxation 13,023,698 13,293,027
Depreciation charges 2,112,797 2,334,227
Profit on disposal of fixed assets (347,690 ) (635,519 )
Gain on revaluation of fixed assets (361,773 ) -
Impairment of tangible fixed assets - 1,022,778
Finance costs 996 8
Finance income (414,830 ) (51,785 )
14,013,198 15,962,736
(Increase)/decrease in stocks (2,762 ) 2,240
Increase in trade and other debtors (537,461 ) (842,511 )
(Decrease)/increase in trade and other creditors (10,507 ) 318,883
Cash generated from operations 13,462,468 15,441,348

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 29 February 2024
29.2.24 1.3.23
£    £   
Cash and cash equivalents 20,601,221 17,713,154
Year ended 28 February 2023
28.2.23 1.3.22
£    £   
Cash and cash equivalents 17,713,154 13,881,200


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.3.23 Cash flow At 29.2.24
£    £    £   
Net cash
Cash at bank and in hand 17,713,154 2,888,067 20,601,221
17,713,154 2,888,067 20,601,221
Total 17,713,154 2,888,067 20,601,221

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

Notes to the Consolidated Financial Statements
for the Year Ended 29 February 2024

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 as modified by the revaluation of certain assets.

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 - 33% on cost

Following a review of the useful lives of the computer equipment, the directors have decided to depreciate the asset over a 3 years straight line period rather than 25% reducing balance method. The change in useful economic life, is justified as this better reflects the period in which computer equipment is used before it is scrapped or ceases to be used by the company in day to day activities

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

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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.

Stocks
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 29 February 2024

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

29.2.24 28.2.23
£    £   
Hire and sales of equipment 34,826,920 34,459,066
34,826,920 34,459,066

4. EMPLOYEES AND DIRECTORS
29.2.24 28.2.23
£    £   
Wages and salaries 7,231,796 6,816,438
Social security costs 773,902 753,593
Other pension costs 138,801 114,023
8,144,499 7,684,054

The average number of employees during the year was as follows:
29.2.24 28.2.23

Directors 5 5
Admin 44 43
Direct 130 129
179 177

29.2.24 28.2.23
£    £   
Directors' remuneration 400,923 374,698
Directors' pension contributions to money purchase schemes 4,377 4,377

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:
29.2.24 28.2.23
£    £   
Emoluments etc 133,600 130,000

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

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 February 2024

5. OPERATING PROFIT

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

29.2.24 28.2.23
£    £   
Hire of plant and machinery 322,537 319,135
Other operating leases 629,509 529,615
Depreciation - owned assets 2,112,797 2,334,225
Profit on disposal of fixed assets (347,690 ) (635,519 )
Auditors' remuneration 16,650 20,355

6. INTEREST PAYABLE AND SIMILAR EXPENSES
29.2.24 28.2.23
£    £   
Interest on late tax payments 996 8

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
29.2.24 28.2.23
£    £   
Current tax:
UK corporation tax 3,050,918 2,227,181
Prior year tax adjustment 3,164 -
Total current tax 3,054,082 2,227,181

Deferred tax (139,018 ) 392,936
Tax on profit 2,915,064 2,620,117

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

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 February 2024

7. TAXATION - continued

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

29.2.24 28.2.23
£    £   
Profit before tax 13,023,698 13,293,027
Profit multiplied by the standard rate of corporation tax in the UK of 24.492
% (2023 - 19 %)

3,189,764

2,525,675

Effects of:
Expenses not deductible for tax purposes 11,673 197,587
Income not taxable for tax purposes (88,605 ) (120,749 )
Capital allowances in excess of depreciation (61,201 ) (390,400 )
Adjustments to tax charge in respect of previous periods 3,164 -
Deferred tax (139,018 ) 392,936
Chargeable gain - 15,068
Hybrid tax rate round difference (713 ) -
Total tax charge 2,915,064 2,620,117

8. 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.


9. DIVIDENDS
29.2.24 28.2.23
£    £   
Ordinary shares of 0.1p each
Interim dividends 359,787 1,177,959
Ordinary A shares of 0.1p each
Interim dividends 2,847,722 5,847,768
Ordinary B shares of 0.1p each
Interim dividends 204,722 12,830
Ordinary C shares of 0.1p each
Interim dividends 744,431 810,638
4,156,662 7,849,195

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

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 February 2024

10. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 March 2023 2,729,037 21,786 8,086,390
Additions - 36,315 1,627,261
Disposals - - (503,579 )
Reclassification/transfer (665,775 ) - -
At 29 February 2024 2,063,262 58,101 9,210,072
DEPRECIATION
At 1 March 2023 38,305 19,232 4,656,970
Charge for year 8,253 638 1,021,206
Eliminated on disposal - - (334,836 )
At 29 February 2024 46,558 19,870 5,343,340
NET BOOK VALUE
At 29 February 2024 2,016,704 38,231 3,866,732
At 28 February 2023 2,690,732 2,554 3,429,420

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 7,847,843 696,568 19,381,624
Additions 2,407,340 39,423 4,110,339
Disposals (1,405,653 ) (371,663 ) (2,280,895 )
Reclassification/transfer - - (665,775 )
At 29 February 2024 8,849,530 364,328 20,545,293
DEPRECIATION
At 1 March 2023 4,410,478 592,215 9,717,200
Charge for year 1,006,427 76,273 2,112,797
Eliminated on disposal (990,019 ) (351,673 ) (1,676,528 )
At 29 February 2024 4,426,886 316,815 10,153,469
NET BOOK VALUE
At 29 February 2024 4,422,644 47,513 10,391,824
At 28 February 2023 3,437,365 104,353 9,664,424

Included in cost of land and buildings is freehold land of £665,775 (2023 - £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 29 February 2024

10. TANGIBLE FIXED ASSETS - continued

Group

Following a review of the useful lives of the computer equipment, the directors have decided to depreciate the asset over 3 years straight line rather than 25% reducing balance method.

Had the computer equipment always been depreciated at the new rate, the fixed assets brought forward would be reduced by £19,900. Therefore assets with a value of £19,900 were impaired to nil during the year in line with the change in accounting policy.

The effect on this year's accounts is an increased depreciation charge from £21,071 to £76,272, reducing the net book value of the computer equipment on the balance sheet by £52,202.

No depreciation is provided on freehold property as the directors believe their value to be in excess of cost.

Company
Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST
At 1 March 2023 2,729,037 - 7,199,679 5,933,325 15,862,041
Additions - 36,315 1,623,811 2,381,394 4,041,520
Disposals - - (503,579 ) (1,145,394 ) (1,648,973 )
Reclassification/transfer (665,775 ) - - - (665,775 )
At 29 February 2024 2,063,262 36,315 8,319,911 7,169,325 17,588,813
DEPRECIATION
At 1 March 2023 38,305 - 4,430,412 3,607,937 8,076,654
Charge for year 8,253 - 855,733 723,868 1,587,854
Eliminated on disposal - - (334,836 ) (737,465 ) (1,072,301 )
At 29 February 2024 46,558 - 4,951,309 3,594,340 8,592,207
NET BOOK VALUE
At 29 February 2024 2,016,704 36,315 3,368,602 3,574,985 8,996,606
At 28 February 2023 2,690,732 - 2,769,267 2,325,388 7,785,387

Included in cost of land and buildings is freehold land of £ 665,775 (2023 - £ 665,775 ) which is not depreciated.

No depreciation is provided on freehold property as the directors believe their value to be in excess of cost.

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

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 February 2024

11. FIXED ASSET INVESTMENTS

Group Company
29.2.24 28.2.23 29.2.24 28.2.23
£    £    £    £   
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:
29.2.24 28.2.23
£    £   
Classic car fleet cost 690,209 690,209
Company
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 2
NET BOOK VALUE
At 29 February 2024 2
At 28 February 2023 2

Investments (neither listed nor unlisted) were as follows:
29.2.24 28.2.23
£    £   
Classic car fleet cost 690,209 690,209

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

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 February 2024

11. FIXED ASSET INVESTMENTS - continued

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
29.2.24 28.2.23
£    £   
Aggregate capital and reserves 2,536,335 2,509,111
Profit for the year 9,277,224 11,472,766

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
29.2.24 28.2.23
£    £   
Aggregate capital and reserves 65,588 48,143
Profit for the year 17,445 11,415

The subsidiary is exempt from the requirements of the Companies Act 2006 relating to the audit of its individual accounts by virtue of section 479A.


The directors believe that the original cost of fixed asset investments 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 29 February 2024

12. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 March 2023 1,464,893
Additions 1,340,619
Revaluations 361,773
Reclassification/transfer 665,775
At 29 February 2024 3,833,060
NET BOOK VALUE
At 29 February 2024 3,833,060
At 28 February 2023 1,464,893

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 361,773
Cost 3,471,287
3,833,060

During the year the investment properties were revalued by the directors to reflect fair value of the properties. The fair value was based on the open market value of the investment properties.

Company
Total
£   
FAIR VALUE
At 1 March 2023 1,464,893
Additions 1,340,619
Revaluations 361,773
Reclassification/transfer 665,775
At 29 February 2024 3,833,060
NET BOOK VALUE
At 29 February 2024 3,833,060
At 28 February 2023 1,464,893

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

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 February 2024

12. INVESTMENT PROPERTY - continued

Company

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 361,773
Cost 3,471,287
3,833,060

During the year the investment properties were revalued by the directors to reflect fair value of the properties. The fair value was based on the open market value of the investment properties.

13. STOCKS

Group
29.2.24 28.2.23
£    £   
Stocks 58,798 56,036

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
29.2.24 28.2.23 29.2.24 28.2.23
£    £    £    £   
Trade debtors 5,396,145 6,411,295 32,685 -
Amounts owed by group undertakings - - 1,150,092 7,635,768
Other debtors 1,814,151 227,873 1,757,525 146,345
VAT - - 204,140 -
Prepayments and accrued income 146,423 180,090 6,575 -
7,356,719 6,819,258 3,151,017 7,782,113

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
29.2.24 28.2.23 29.2.24 28.2.23
£    £    £    £   
Trade creditors 1,478,091 1,276,099 50,930 33,333
Tax 1,606,944 885,600 - -
Social security and other taxes 136,490 137,760 13,899 12,860
VAT 438,392 702,308 - 43,471
Other creditors 310,279 237,198 49,683 53,853
Directors' current accounts 23,647 23,581 23,647 23,581
Accruals and deferred income 86,212 106,606 8,740 8,000
4,080,055 3,369,152 146,899 175,098

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

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 February 2024

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
29.2.24 28.2.23
£    £   
Within one year 481,313 403,297
Between one and five years 976,558 979,863
In more than five years 201,250 298,750
1,659,121 1,681,910

At the year end the company had contracts in place with tenants under lease contracts. The minimum lease payments due to the company was as follows


Group


29.2.24 28.2.23
£ £
Within one year 63,780 28,560
Between one and five years 90,440 119,000
In more than five years - -
154,220 147,560

Company
Non-cancellable operating leases
29.2.24 28.2.23
£    £   

17. PROVISIONS FOR LIABILITIES

Group Company
29.2.24 28.2.23 29.2.24 28.2.23
£    £    £    £   
Deferred tax 1,042,479 1,181,497 776,374 805,914

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

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 February 2024

17. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 March 2023 1,181,497
Credit to Income Statement during year (139,018 )
Balance at 29 February 2024 1,042,479

Company
Deferred
tax
£   
Balance at 1 March 2023 805,914
Credit to Statement of Comprehensive Income during year (29,540 )
Balance at 29 February 2024 776,374

Deferred tax provision, relate wholly to accelerated capital allowances.

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
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

19. RESERVES

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

At 1 March 2023 27,866,008 10,974 3,980,341 31,857,323
Profit for the year 10,108,634 - - 10,108,634
Dividends (4,156,662 ) - - (4,156,662 )
At 29 February 2024 33,817,980 10,974 3,980,341 37,809,295

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

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29 February 2024

19. RESERVES - continued

Company
Retained Share
earnings premium Totals
£    £    £   

At 1 March 2023 29,288,997 10,974 29,299,971
Profit for the year 10,063,965 - 10,063,965
Dividends (4,156,662 ) - (4,156,662 )
At 29 February 2024 35,196,300 10,974 35,207,274


20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
C Boydon
Balance outstanding at start of year - 3,817
Amounts repaid - (3,817 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

21. RELATED PARTY DISCLOSURES

Key management personnel of the entity or its parent (in the aggregate)
29.2.24 28.2.23
£    £   
Dividends paid 564,509 2,001,427
Amount due to related party 43,500 43,500

Other related parties
29.2.24 28.2.23
£    £   
Dividends paid (a discretionary trust of the directors and family members) 2,847,722 5,847,768

Key Managment Personnel are deemed to be C Boydon and R Boydon, due to their control and involvement in day to day activities.

22. ULTIMATE CONTROLLING PARTY

The controlling party is Mr C Boydon.