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REGISTERED NUMBER: 02581818 (England and Wales)















Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 29 February 2024

for

Tardis Environmental UK Limited

Tardis Environmental UK Limited (Registered number: 02581818)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


Tardis Environmental UK Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr A Boydon
Mr C Boydon
Mr R Boydon
Mrs K Collier
Mr D W R Furlong



SECRETARY: Mrs J Causer



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



REGISTERED NUMBER: 02581818 (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
440 The Strand
London
WC2R OQS



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

Tardis Environmental UK Limited (Registered number: 02581818)

Strategic Report
for the Year Ended 29 February 2024

The directors present their strategic report for the year ended 29 February 2024.

The company 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
We 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.

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

ON BEHALF OF THE BOARD:





Mr R Boydon - Director


9 November 2024

Tardis Environmental UK Limited (Registered number: 02581818)

Report of the Directors
for the Year Ended 29 February 2024

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

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

DIVIDENDS
An interim dividend of £925,000 per share was paid on the Ordinary A £1 shares on 27 February 2024. No dividends were paid on any other classes of shares.

The total distribution of dividends for the year ended 29 February 2024 will be £ 9,250,000 .

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 A Boydon
Mr C Boydon
Mr R Boydon
Mrs K Collier
Mr D W R Furlong

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company's auditors are aware of that information.

Tardis Environmental UK Limited (Registered number: 02581818)

Report of the Directors
for the Year Ended 29 February 2024


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 November 2024

Report of the Independent Auditors to the Members of
Tardis Environmental UK Limited

Opinion
We have audited the financial statements of Tardis Environmental UK Limited (the 'company') for the year ended 29 February 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 29 February 2024 and of its 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 company 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 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 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.

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 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 Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Tardis Environmental UK Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 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 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 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 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 November 2024

Tardis Environmental UK Limited (Registered number: 02581818)

Statement of Comprehensive Income
for the Year Ended 29 February 2024

29.2.24 28.2.23
Notes £    £   

TURNOVER 3 34,798,164 34,390,068

Cost of sales 11,471,457 9,484,381
GROSS PROFIT 23,326,707 24,905,687

Administrative expenses 11,223,518 10,893,426
12,103,189 14,012,261

Other operating income 37,967 10,209
OPERATING PROFIT 5 12,141,156 14,022,470

Interest receivable and similar income 76,125 33,860
12,217,281 14,056,330

Interest payable and similar expenses 6 996 -
PROFIT BEFORE TAXATION 12,216,285 14,056,330

Tax on profit 7 2,939,061 2,583,564
PROFIT FOR THE FINANCIAL YEAR 9,277,224 11,472,766

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

9,277,224

11,472,766

Tardis Environmental UK Limited (Registered number: 02581818)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 1,395,217 1,879,035

CURRENT ASSETS
Stocks 10 58,798 56,036
Debtors 11 5,508,380 6,602,789
Cash at bank 1,087,003 5,036,685
6,654,181 11,695,510
CREDITORS
Amounts falling due within one year 12 5,246,858 10,689,751
NET CURRENT ASSETS 1,407,323 1,005,759
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,802,540

2,884,794

PROVISIONS FOR LIABILITIES 14 266,105 375,583
NET ASSETS 2,536,435 2,509,211

CAPITAL AND RESERVES
Called up share capital 15 100 100
Retained earnings 16 2,536,335 2,509,111
SHAREHOLDERS' FUNDS 2,536,435 2,509,211

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 Limited (Registered number: 02581818)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 March 2022 100 2,286,345 2,286,445

Changes in equity
Dividends - (11,250,000 ) (11,250,000 )
Total comprehensive income - 11,472,766 11,472,766
Balance at 28 February 2023 100 2,509,111 2,509,211

Changes in equity
Dividends - (9,250,000 ) (9,250,000 )
Total comprehensive income - 9,277,224 9,277,224
Balance at 29 February 2024 100 2,536,335 2,536,435

Tardis Environmental UK Limited (Registered number: 02581818)

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 13,990,419 14,154,110
Interest paid (996 ) -
Tax paid (2,326,897 ) (1,371,249 )
Net cash from operating activities 11,662,526 12,782,861

Cash flows from investing activities
Purchase of tangible fixed assets (68,822 ) (1,931,896 )
Sale of tangible fixed assets 16,164 36,668
Interest received 76,125 33,860
Net cash from investing activities 23,467 (1,861,368 )

Cash flows from financing activities
New loans taken in the year - 2,895,520
Loan repayments in year (6,385,675 ) -
Amount introduced by directors 353,694 24,899
Amount withdrawn by directors (353,694 ) (24,899 )
Equity dividends paid (9,250,000 ) (11,250,000 )
Net cash from financing activities (15,635,675 ) (8,354,480 )

(Decrease)/increase in cash and cash equivalents (3,949,682 ) 2,567,013
Cash and cash equivalents at beginning of
year

2

5,036,685

2,469,672

Cash and cash equivalents at end of year 2 1,087,003 5,036,685

Tardis Environmental UK Limited (Registered number: 02581818)

Notes to the 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 12,216,285 14,056,330
Depreciation charges 524,943 626,427
Loss/(profit) on disposal of fixed assets 11,532 (27,214 )
Finance costs 996 -
Finance income (76,125 ) (33,860 )
12,677,631 14,621,683
(Increase)/decrease in stocks (2,762 ) 2,240
Decrease/(increase) in trade and other debtors 1,094,409 (862,183 )
Increase in trade and other creditors 221,141 392,370
Cash generated from operations 13,990,419 14,154,110

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 1,087,003 5,036,685
Year ended 28 February 2023
28.2.23 1.3.22
£    £   
Cash and cash equivalents 5,036,685 2,469,672


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.3.23 Cash flow At 29.2.24
£    £    £   
Net cash
Cash at bank 5,036,685 (3,949,682 ) 1,087,003
5,036,685 (3,949,682 ) 1,087,003
Total 5,036,685 (3,949,682 ) 1,087,003

Tardis Environmental UK Limited (Registered number: 02581818)

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

1. STATUTORY INFORMATION

Tardis Environmental UK 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. 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.

The financial statements have been prepared on a going concern basis.

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.

Significant judgements and estimates
The company 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 assets 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.
Improvements to property - 2% on cost
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 Limited (Registered number: 02581818)

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

2. ACCOUNTING POLICIES - continued

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.

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 amortized 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 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.

Tardis Environmental UK Limited (Registered number: 02581818)

Notes to the 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 company.

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

29.2.24 28.2.23
£    £   
Hire of Equipment 34,798,164 34,390,068
34,798,164 34,390,068

4. EMPLOYEES AND DIRECTORS
29.2.24 28.2.23
£    £   
Wages and salaries 6,798,120 6,365,319
Social security costs 719,911 694,668
Other pension costs 133,516 108,808
7,651,547 7,168,795

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

Director 1 170
Admin 43 -
Driver 130 -
174 170

29.2.24 28.2.23
£    £   
Directors' remuneration 27,520 20,000
Directors' pension contributions to money purchase schemes 413 413

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

Money purchase schemes 1 1

Tardis Environmental UK Limited (Registered number: 02581818)

Notes to the 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 713,509 613,615
Depreciation - owned assets 524,944 626,425
Loss/(profit) on disposal of fixed assets 11,532 (27,214 )
Auditors' remuneration 11,900 11,200

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

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 3,048,539 2,224,503

Deferred tax (109,478 ) 359,061
Tax on profit 2,939,061 2,583,564

Tardis Environmental UK Limited (Registered number: 02581818)

Notes to the 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 12,216,285 14,056,330
Profit multiplied by the standard rate of corporation tax in the UK of
24.492% (2023 - 19%)

2,992,013

2,670,703

Effects of:
Expenses not deductible for tax purposes 11,673 3,259
Income not taxable for tax purposes - (5,171 )
Capital allowances in excess of depreciation - (373,868 )
Depreciation in excess of capital allowances 107,092 -
Group relief (62,214 ) (70,420 )
Hybrid tax rate rounding difference (25 ) -
Deferred tax (109,478 ) 359,061
Total tax charge 2,939,061 2,583,564

8. DIVIDENDS
29.2.24 28.2.23
£    £   
Ordinary A shares of £1 each
Interim dividends 9,250,000 11,250,000

Tardis Environmental UK Limited (Registered number: 02581818)

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

9. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 21,786 886,710 1,914,517 696,568 3,519,581
Additions - 3,450 25,949 39,423 68,822
Disposals - - (260,260 ) (371,663 ) (631,923 )
At 29 February 2024 21,786 890,160 1,680,206 364,328 2,956,480
DEPRECIATION
At 1 March 2023 19,232 226,558 802,541 592,215 1,640,546
Charge for year 638 165,473 282,560 76,273 524,944
Eliminated on disposal - - (252,554 ) (351,673 ) (604,227 )
At 29 February 2024 19,870 392,031 832,547 316,815 1,561,263
NET BOOK VALUE
At 29 February 2024 1,916 498,129 847,659 47,513 1,395,217
At 28 February 2023 2,554 660,152 1,111,976 104,353 1,879,035

Following a review of the useful lives of computer equipment, the directors have decided to depreciate the assets 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.

10. STOCKS
29.2.24 28.2.23
£    £   
Stocks 58,798 56,036

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 5,363,460 6,401,723
Other debtors 5,073 27,840
Prepayments and accrued income 139,847 173,226
5,508,380 6,602,789

Tardis Environmental UK Limited (Registered number: 02581818)

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

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 1,427,161 1,242,412
Amounts owed to group undertakings 1,114,092 7,499,768
Tax 1,604,565 882,923
Social security and other taxes 122,591 124,900
VAT 642,532 664,547
Other creditors 260,595 183,345
Accruals and deferred income 75,322 91,856
5,246,858 10,689,751

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29.2.24 28.2.23
£    £   
Within one year 481,313 403,297
Between one and five years 976,559 979,863
In more than five years 201,250 298,750
1,659,122 1,681,910

14. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 266,105 375,583

Deferred
tax
£   
Balance at 1 March 2023 375,583
Credit to Statement of Comprehensive Income during year (109,478 )
Balance at 29 February 2024 266,105

Deferred tax provision, relate wholly to accelerated capital allowances.

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
89 Ordinary £1 89 89
10 Ordinary A £1 10 10
1 Ordinary B £1 1 1
100 100

Tardis Environmental UK Limited (Registered number: 02581818)

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

16. RESERVES
Retained
earnings
£   

At 1 March 2023 2,509,111
Profit for the year 9,277,224
Dividends (9,250,000 )
At 29 February 2024 2,536,335

17. ULTIMATE PARENT COMPANY

Tardis Environmental UK (Holdings) Ltd is regarded by the directors as being the company's ultimate parent company, registered office Site 4, Halesfield 21, Telford, Shropshire, TF7 4PA.

Its accounts are available to the public on payment of the appropriate fee from Companies House, Crown Way, Cardiff, CF14 3UZ.

18. ULTIMATE CONTROLLING PARTY

The controlling party is Mr C Boydon.