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REGISTERED NUMBER: 03921753 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 April 2024

for

Total Reclaims Demolition Limited

Total Reclaims Demolition Limited (Registered number: 03921753)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 16


Total Reclaims Demolition Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: M I Cross
M W Cross
G R Cross
M P Cross



SECRETARY: Miss S A Wright



REGISTERED OFFICE: Cabourn House
Station Street
Bingham
Nottinghamshire
NG13 8AQ



REGISTERED NUMBER: 03921753 (England and Wales)



AUDITORS: Xeinadin Audit Limited t/a Xeinadin Auditing
Cabourn House, Station Street
Bingham
Nottinghamshire
NG13 8AQ



BANKERS: National Westminster Bank PLC
9 Church Street
Mansfield
Nottinghamshire
NG18 1AF

Total Reclaims Demolition Limited (Registered number: 03921753)

Strategic Report
for the Year Ended 30 April 2024

The directors present their strategic report for the period 1 May 2023 to 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of demolition and materials reclamation.

REVIEW OF BUSINESS
Detailed below is a balanced and comprehensive review of the development and performance of Total Reclaims Demolition Limited (TRD), the business during 2023/24 and its position at the year end. The review is consistent with the size and nature of the business and is written in the context of the risks and future challenges that TRD face. TRD's core business is in the demolition and construction industry. It is a leading UK demolition contractor. The company undertakes projects of a varied size and complexity from locations throughout the UK providing services across all demolition, reclamation, recycling and aggregate activities.

The company's key financial performance indicators are turnover growth, operating profit and capital investment.


30.04.24 30.04.23
£    £   
Turnover 14,500,378 13,226,253
Operating profit 913,975 578,752
Capital investment 1,349,949 471,849

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainties facing the company are its reliance on the construction sector. Uncertainty revolves around predicting the future of this sector and the risk is managed by developing and investing in the business to match every expected requirement. The company uses information in the public domain alongside close communication with its customers to negate such risks.

The company also faces, as do all similar businesses, inflationary pressures on costs and wages. The directors continue to produce up to date management information and forecasts to be proactive in their response and as evidenced by the improvements in turnover and margin are confident in the mitigation of this risk.

FINANCIAL RISK MANAGEMENT, POLICIES AND OBJECTIVES
The company finances its working capital requirements from a combination of retained profit and bank overdraft facilities. Larger capital purchases are usually part funded using hire purchase agreements.

FUTURE DEVELOPMENTS
The company will continue to obtain contracts for large demolition works within the U.K. The company will continue to recognise the importance of its ongoing investment in health and safety measures ensuring that the ever-changing requirements of the construction sector are met.

ON BEHALF OF THE BOARD:





M I Cross - Director


19 December 2024

Total Reclaims Demolition Limited (Registered number: 03921753)

Report of the Directors
for the Year Ended 30 April 2024

The directors present their report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of demolition and materials reclamation.

DIVIDENDS
No dividends will be distributed for the year ended 30 April 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

M I Cross
M W Cross
G R Cross
M P Cross

DISCLOSURE IN THE STRATEGIC REPORT
The company has chosen in accordance with section 414c (11) of the Companies Act 2006 (Strategic Report and Directors' Report Regulations 2013) to set out in the company's strategic report, information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.

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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Total Reclaims Demolition Limited (Registered number: 03921753)

Report of the Directors
for the Year Ended 30 April 2024


AUDITORS
The Auditors, Xeinadin Audit Limited t/a Xeinadin Auditing, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M I Cross - Director


19 December 2024

Report of the Independent Auditors to the Members of
Total Reclaims Demolition Limited

Opinion
We have audited the financial statements of Total Reclaims Demolition Limited (the 'company') for the year ended 30 April 2024 which comprise the Income Statement, Other 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 30 April 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
Total Reclaims Demolition 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
Total Reclaims Demolition 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

1) We obtained an understanding of the legal and regulatory framework applicable to the Company in the sector in which they operate. Due to the nature of the sector the Company operates in, health and safety is a key area. The company is also ISO accredited and has inspections by the BSI, whose reports were reviewed.

2) We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making inquiries to management. We corroborated our inquiries through review of the legal and professional expenditure incurred as well as available information on the Company's website.

3) We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team include:

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

- Challenging assumptions and judgements made by management in accounting estimates;

- Identifying and testing journal entries, in particular any that appear unusual;

- Review inspection reports by regulatory bodies and assess any impact, including renewal of necessary licences. In particular: certification under the Waste (England and Wales) Regulations 2011; HSE (Health & Safety Executive); BSI (British Standards Institution) for ISO accreditation.

- Reviewed ledger and non-ledger transactions in order to identify any additional related party transactions or balances.

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
Total Reclaims Demolition 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.




Janet Charlton FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited t/a Xeinadin Auditing
Cabourn House, Station Street
Bingham
Nottinghamshire
NG13 8AQ

19 December 2024

Total Reclaims Demolition Limited (Registered number: 03921753)

Income Statement
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   

TURNOVER 3 14,500,378 13,226,253

Cost of sales 12,244,101 11,365,226
GROSS PROFIT 2,256,277 1,861,027

Administrative expenses 1,397,574 1,315,500
858,703 545,527

Other operating income 4 55,272 33,225
OPERATING PROFIT 6 913,975 578,752

Interest receivable and similar income 11,697 3,514
925,672 582,266

Interest payable and similar expenses 7 125,840 90,765
PROFIT BEFORE TAXATION 799,832 491,501

Tax on profit 8 222,701 (1,669 )
PROFIT FOR THE FINANCIAL YEAR 577,131 493,170

Total Reclaims Demolition Limited (Registered number: 03921753)

Other Comprehensive Income
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   

PROFIT FOR THE YEAR 577,131 493,170


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

577,131

493,170

Total Reclaims Demolition Limited (Registered number: 03921753)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 3,723,183 3,163,167
Investment property 11 387,692 387,692
4,110,875 3,550,859

CURRENT ASSETS
Debtors 12 3,791,068 2,930,122
Cash at bank and in hand 1,030,141 829,296
4,821,209 3,759,418
CREDITORS
Amounts falling due within one year 13 2,805,475 2,216,473
NET CURRENT ASSETS 2,015,734 1,542,945
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,126,609

5,093,804

CREDITORS
Amounts falling due after more than one year 14 (1,487,134 ) (1,164,477 )

PROVISIONS FOR LIABILITIES 18 (919,435 ) (775,986 )

ACCRUALS AND DEFERRED INCOME 19 (54,916 ) (65,348 )
NET ASSETS 3,665,124 3,087,993

CAPITAL AND RESERVES
Called up share capital 20 1,000 1,000
Retained earnings 21 3,664,124 3,086,993
SHAREHOLDERS' FUNDS 3,665,124 3,087,993

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2024 and were signed on its behalf by:





M I Cross - Director


Total Reclaims Demolition Limited (Registered number: 03921753)

Statement of Changes in Equity
for the Year Ended 30 April 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 May 2022 1,000 2,593,823 2,594,823

Changes in equity
Total comprehensive income - 493,170 493,170
Balance at 30 April 2023 1,000 3,086,993 3,087,993

Changes in equity
Total comprehensive income - 577,131 577,131
Balance at 30 April 2024 1,000 3,664,124 3,665,124

Total Reclaims Demolition Limited (Registered number: 03921753)

Cash Flow Statement
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,621,819 1,106,719
Interest paid (10,069 ) (14,194 )
Interest element of hire purchase payments paid (115,771 ) (76,571 )
Tax refunded/(paid) (16,550 ) 142,915
Net cash from operating activities 1,479,429 1,158,869

Cash flows from investing activities
Purchase of tangible fixed assets (316,119 ) (241,919 )
Sale of tangible fixed assets 93,582 175,448
Interest received 11,697 3,514
Net cash from investing activities (210,840 ) (62,957 )

Cash flows from financing activities
Loan repayments in year (100,000 ) (100,000 )
Capital repayments in year (710,846 ) (562,718 )
Amount introduced by directors 500,720 147,955
Amount withdrawn by directors (757,618 ) (15,481 )
Net cash from financing activities (1,067,744 ) (530,244 )

Increase in cash and cash equivalents 200,845 565,668
Cash and cash equivalents at beginning of
year

2

829,296

263,628

Cash and cash equivalents at end of year 2 1,030,141 829,296

Total Reclaims Demolition Limited (Registered number: 03921753)

Notes to the Cash Flow Statement
for the Year Ended 30 April 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

30.4.24 30.4.23
£    £   
Profit before taxation 799,832 491,501
Depreciation charges 684,199 611,975
Loss/(profit) on disposal of fixed assets 12,152 (12,366 )
Finance costs 125,840 90,765
Finance income (11,697 ) (3,514 )
1,610,326 1,178,361
(Increase)/decrease in trade and other debtors (535,410 ) 520,962
Increase/(decrease) in trade and other creditors 546,903 (592,604 )
Cash generated from operations 1,621,819 1,106,719

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 30 April 2024
30.4.24 1.5.23
£    £   
Cash and cash equivalents 1,030,141 829,296
Year ended 30 April 2023
30.4.23 1.5.22
£    £   
Cash and cash equivalents 829,296 608,883
Bank overdrafts - (345,255 )
829,296 263,628


Total Reclaims Demolition Limited (Registered number: 03921753)

Notes to the Cash Flow Statement
for the Year Ended 30 April 2024

3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.5.23 Cash flow changes At 30.4.24
£    £    £    £   
Net cash
Cash at bank
and in hand 829,296 200,845 1,030,141
829,296 200,845 1,030,141
Debt
Finance leases (1,488,790 ) 710,846 (1,033,830 ) (1,811,774 )
Debts falling due
within 1 year (100,000 ) - - (100,000 )
Debts falling due
after 1 year (225,000 ) 100,000 - (125,000 )
(1,813,790 ) 810,846 (1,033,830 ) (2,036,774 )
Total (984,494 ) 1,011,691 (1,033,830 ) (1,006,633 )

Total Reclaims Demolition Limited (Registered number: 03921753)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Total Reclaims Demolition 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.

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.

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

In determining the revenue and costs to be recognised each year for work done on demolition contracts, estimates are made in relation to final out-turn on each contract. On major demolition contracts, it is assessed, based on past experience, that their outcome can be estimated reliably during the early stages of the contract, but that costs incurred will be recoverable. Once the outcome can be estimated reliably the estimates of final out-turn on each contract may include cost contingencies to take account of the specific risks within each contract that have been identified during the early stages of the contract. The cost contingencies are reviewed on a regular basis throughout the contract life and are adjusted where appropriate. However, the nature of the risks on contracts are such that they often cannot be resolved until the end of the project and therefore may not reverse until the end of the project.

For retentions which are due within 12 months from practical completion, where contracts were complete at the year end, 75% of the retention is recognised in the accounts. Where contracts are incomplete at the year end a range of 25% to 50% of the retention is recognised.

Other sources of income include the sale of reclaimed materials and scrap, which are recognised as revenue once the goods have been delivered to the customer.

Hire of machinery is recognised on a straight line basis over the life of the hire period.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance and 15% on reducing balance
Fixtures and fittings - 33% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are initially recognised at cost which is the purchase price plus any directly attributable costs. Subsequently, tangible fixed assets are measured at cost less accumulated depreciation and impairment losses.

Total Reclaims Demolition Limited (Registered number: 03921753)

Notes to the Financial Statements - continued
for the Year Ended 30 April 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.

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds only basic financial instruments, which comprise cash and cash equivalents, debtors, creditors and loans and borrowings. The company has chosen to apply the provisions of Section 11 'Basic Financial Instruments' in full.

(i) Cash and cash equivalents;
Cash and cash equivalents include cash in hand, deposits held with banks, and other short term highly liquid investments with original maturities of three months or less.

(ii) Debtors;
Debtors are initially recognised at the transaction price, including any transaction costs, and are subsequently measured at amortised cost using the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount expected to be receivable, net of any impairment.

(iii) Creditors and loans and borrowings;
Creditors and loans and borrowings are initially measured at the transaction price, including any transaction costs, and are subsequently measured at amortised costs using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount expected to be payable.
Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of the future payments, discounted at the market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the 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.

Total Reclaims Demolition Limited (Registered number: 03921753)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial instruments
Financial instruments are classified and accounted according to the substance of the contractual arrangements, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Functional currency and rounding
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

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:

30.4.24 30.4.23
£    £   
Demolition services 12,461,897 11,330,324
Reclaimed materials & scrap 2,037,721 1,884,114
Hire of machinery 760 11,815
14,500,378 13,226,253

4. OTHER OPERATING INCOME
30.4.24 30.4.23
£    £   
Rents received 24,517 2,284
Sundry receipts 20,323 20,509
Government grants 10,432 10,432
55,272 33,225

Total Reclaims Demolition Limited (Registered number: 03921753)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. EMPLOYEES AND DIRECTORS
30.4.24 30.4.23
£    £   
Wages and salaries 3,552,295 3,118,499
Social security costs 355,881 313,198
Other pension costs 77,392 83,652
3,985,568 3,515,349

The average number of employees during the year was as follows:
30.4.24 30.4.23

Production 90 89
Management/office 16 14
106 103

30.4.24 30.4.23
£    £   
Directors' remuneration 295,696 268,949
Directors' pension contributions to money purchase schemes - 12,000

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

Money purchase schemes 2 2

Information regarding the highest paid director is as follows:
30.4.24 30.4.23
£    £   
Emoluments etc 86,410 86,262

6. OPERATING PROFIT

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

30.4.24 30.4.23
£    £   
Other operating leases 66,550 97,500
Depreciation - owned assets 234,080 192,387
Depreciation - assets on hire purchase contracts 450,119 419,588
Loss/(profit) on disposal of fixed assets 12,152 (12,366 )
Auditors' remuneration 15,750 18,000
Bad debts 1,617 51,832

Total Reclaims Demolition Limited (Registered number: 03921753)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. INTEREST PAYABLE AND SIMILAR EXPENSES
30.4.24 30.4.23
£    £   
Bank interest 10,069 14,194
Hire purchase interest 115,771 76,571
125,840 90,765

8. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
30.4.24 30.4.23
£    £   
Current tax:
UK corporation tax 79,049 16,347
R&D Tax credit receipts - (46,779 )
Adjustment in respect of prior
period 203 -
Total current tax 79,252 (30,432 )

Deferred tax 143,449 28,763
Tax on profit 222,701 (1,669 )

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge/(credit) 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:

30.4.24 30.4.23
£    £   
Profit before tax 799,832 491,501
Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 -
19.250%)

199,958

94,614

Effects of:
Expenses not deductible for tax purposes 25,803 10,425
Income not taxable for tax purposes (3,294 ) (2,008 )
Utilisation of tax losses - (62,768 )
Adjustments to tax charge in respect of previous periods (203 ) -
Depreciation on unqualifying assets 437 340
Effect of capital allowances super-deduction - (16,268 )
Research and development tax credits - (46,779 )
Change in tax rate used for deferred tax - 20,775
Total tax charge/(credit) 222,701 (1,669 )

Total Reclaims Demolition Limited (Registered number: 03921753)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023 90,000
Disposals (90,000 )
At 30 April 2024 -
AMORTISATION
At 1 May 2023 90,000
Eliminated on disposal (90,000 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

10. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 5,220,224 174,510 981,630 6,376,364
Additions 854,274 - 495,675 1,349,949
Disposals (268,209 ) - (59,640 ) (327,849 )
At 30 April 2024 5,806,289 174,510 1,417,665 7,398,464
DEPRECIATION
At 1 May 2023 2,453,989 148,518 610,690 3,213,197
Charge for year 497,459 18,479 168,261 684,199
Eliminated on disposal (173,049 ) - (49,066 ) (222,115 )
At 30 April 2024 2,778,399 166,997 729,885 3,675,281
NET BOOK VALUE
At 30 April 2024 3,027,890 7,513 687,780 3,723,183
At 30 April 2023 2,766,235 25,992 370,940 3,163,167

Total Reclaims Demolition Limited (Registered number: 03921753)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2023 2,804,190 440,746 3,244,936
Additions 734,500 299,330 1,033,830
Transfer to ownership (627,690 ) (98,039 ) (725,729 )
At 30 April 2024 2,911,000 642,037 3,553,037
DEPRECIATION
At 1 May 2023 1,060,704 216,049 1,276,753
Charge for year 345,064 105,055 450,119
Transfer to ownership (390,921 ) (77,389 ) (468,310 )
At 30 April 2024 1,014,847 243,715 1,258,562
NET BOOK VALUE
At 30 April 2024 1,896,153 398,322 2,294,475
At 30 April 2023 1,743,486 224,697 1,968,183

11. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 387,692
NET BOOK VALUE
At 30 April 2024 387,692
At 30 April 2023 387,692

The investment property was acquired in 2019 and the fair value has been determined by the directors with reference to the national land value index. They do not believe that an adjustment is required at the balance sheet date as the amount included already materially reflects fair value.

Total Reclaims Demolition Limited (Registered number: 03921753)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 1,682,153 1,712,099
Applications for payment made 359,642 379,857
Amounts recoverable on
contracts 641,507 172,497
Other debtors 684,441 554,901
Directors' current accounts 325,536 -
Prepayments 97,789 110,768
3,791,068 2,930,122

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts (see note 15) 100,000 100,000
Hire purchase contracts (see note 16) 449,640 549,313
Trade creditors 1,523,158 1,317,810
Tax 79,049 16,347
Social security and other taxes 66,720 82,000
Attachment to earnings 754 701
VAT 121,223 92,364
Directors' current accounts 70,367 1,729
Accruals and deferred income 394,564 56,209
2,805,475 2,216,473

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans (see note 15) 125,000 225,000
Hire purchase contracts (see note 16) 1,362,134 939,477
1,487,134 1,164,477

15. LOANS

An analysis of the maturity of loans is given below:

30.4.24 30.4.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 100,000 100,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 100,000 100,000

Total Reclaims Demolition Limited (Registered number: 03921753)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

15. LOANS - continued
30.4.24 30.4.23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 25,000 125,000

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Net obligations repayable:
Within one year 449,640 549,313
Between one and five years 1,362,134 939,477
1,811,774 1,488,790

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year 61,738 66,008
Between one and five years 65,140 118,400
126,878 184,408

17. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Hire purchase contracts 1,811,774 1,488,790

The obligations under hire purchase contracts and finance leases are secured on the assets to which they relate.

A Mortgage debenture is held as security by National Westminster Bank Plc by way of a fixed and floating charge over current and future assets of the company. A further fixed charge is held with the same bank for a cash deposit.

The bank loan is a facility received under the Coronavirus Business Interruption Loan Scheme (CBILS). As such, the UK government has provided the bank with a partial guarantee. To the extent that the guarantee provided by the UK government is not sufficient, the company has provided security by way of a debenture.

A third party guarantee is in place with National Westminster Bank Plc. The security is for a related party company and is limited to £450,000.

Total Reclaims Demolition Limited (Registered number: 03921753)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

18. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax
Accelerated capital allowances 919,435 775,986

Deferred
tax
£   
Balance at 1 May 2023 775,986
Provided during year 143,449
Balance at 30 April 2024 919,435

Deferred tax has been recognised at the prevailing rate of 25% and relates wholly to accelerated capital allowances.

19. ACCRUALS AND DEFERRED INCOME
30.4.24 30.4.23
£    £   
Deferred government grants 54,916 65,348

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
1,000 Ordinary shares £1 1,000 1,000

21. RESERVES
Retained
earnings
£   

At 1 May 2023 3,086,993
Profit for the year 577,131
At 30 April 2024 3,664,124

22. PENSION COMMITMENTS

Defined contribution scheme

The company contributes to the individual personal pension plans of employees and directors. The assets of the schemes are held separately from those of the company in an independently administered fund. The pension cost charge represents the contributions payable by the company to the personal pension plans. The company contributed £77,392 (2023: £71,652) in respect of employees and £Nil (2023: £12,000) in respect of directors.

Total Reclaims Demolition Limited (Registered number: 03921753)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

23. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year amounts totalling £757,617 (2023 : £15,481) were advanced to directors, and £500,720 (2023: £147,955) was repaid. At 30 April 2024 an amount of £255,169 was due from (2023 : £1,729 due to directors) the directors of the company. These balances were interest free, unsecured, and repayable on demand.

24. RELATED PARTY DISCLOSURES

Entities over which the entity has control, joint control or significant influence

30.4.2430.4.23
££
Sales1,7024,704
Purchases349,303227,788
Amount due from related party600,128550,903
Amount due to related party32,66536,076

The above balances all relate to entities for which the directors of Total Reclaims Demolition Limited have significant shareholdings and/or control. All balances are interest free and repayable on demand.

Key management personnel of the entity or its parent (in the aggregate)

30.4.2430.4.23
££
Amount due from related party177,169-
Amount due to related party-1,729

25. ULTIMATE CONTROLLING PARTY

The company is controlled by M I Cross and M W Cross.

26. CONTROL

The control of the company is decided by virtue of the shareholdings.