45 false false false false false false false false false false true false false true true true true No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 14,400 14,400 14,400 xbrli:pure xbrli:shares iso4217:GBP 05716583 2023-10-01 2024-09-30 05716583 2024-09-30 05716583 2023-09-30 05716583 2022-10-01 2023-09-30 05716583 2023-09-30 05716583 2022-09-30 05716583 core:NetGoodwill 2023-10-01 2024-09-30 05716583 core:LandBuildings 2023-10-01 2024-09-30 05716583 core:FurnitureFittings 2023-10-01 2024-09-30 05716583 core:MotorVehicles 2023-10-01 2024-09-30 05716583 bus:Director2 2023-10-01 2024-09-30 05716583 core:NetGoodwill 2023-09-30 05716583 core:NetGoodwill 2024-09-30 05716583 core:LandBuildings 2023-09-30 05716583 core:PlantMachinery 2023-09-30 05716583 core:FurnitureFittings 2023-09-30 05716583 core:MotorVehicles 2023-09-30 05716583 core:LandBuildings 2024-09-30 05716583 core:PlantMachinery 2024-09-30 05716583 core:FurnitureFittings 2024-09-30 05716583 core:MotorVehicles 2024-09-30 05716583 core:PlantMachinery 2023-10-01 2024-09-30 05716583 core:WithinOneYear 2024-09-30 05716583 core:WithinOneYear 2023-09-30 05716583 core:AfterOneYear 2024-09-30 05716583 core:AfterOneYear 2023-09-30 05716583 core:ShareCapital 2024-09-30 05716583 core:ShareCapital 2023-09-30 05716583 core:RetainedEarningsAccumulatedLosses 2024-09-30 05716583 core:RetainedEarningsAccumulatedLosses 2023-09-30 05716583 core:BetweenOneFiveYears 2024-09-30 05716583 core:BetweenOneFiveYears 2023-09-30 05716583 core:CostValuation core:Non-currentFinancialInstruments 2024-09-30 05716583 core:Non-currentFinancialInstruments 2024-09-30 05716583 core:Non-currentFinancialInstruments 2023-09-30 05716583 core:LandBuildings 2023-09-30 05716583 core:PlantMachinery 2023-09-30 05716583 core:FurnitureFittings 2023-09-30 05716583 core:MotorVehicles 2023-09-30 05716583 bus:SmallEntities 2023-10-01 2024-09-30 05716583 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 05716583 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 05716583 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05716583 bus:FullAccounts 2023-10-01 2024-09-30 05716583 core:CustomerRelationships 2023-10-01 2024-09-30 05716583 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 05716583 core:CustomerRelationships 2023-09-30 05716583 core:CustomerRelationships 2024-09-30 05716583 core:FurnitureFittingsToolsEquipment 2023-09-30 05716583 core:FurnitureFittingsToolsEquipment 2024-09-30
COMPANY REGISTRATION NUMBER: 05716583
Datashredders Limited
Filleted Unaudited Financial Statements
For the year ended
30 September 2024
Datashredders Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
48,270
64,958
Tangible assets
6
2,870,748
3,171,979
Investments
7
14,400
14,400
------------
------------
2,933,418
3,251,337
Current assets
Stocks
87,390
44,212
Debtors
8
1,164,783
1,116,247
Cash at bank and in hand
986,105
802,724
------------
------------
2,238,278
1,963,183
Creditors: amounts falling due within one year
9
1,110,938
952,413
------------
------------
Net current assets
1,127,340
1,010,770
------------
------------
Total assets less current liabilities
4,060,758
4,262,107
Creditors: amounts falling due after more than one year
10
109,802
74,320
Provisions
Taxation including deferred tax
709,227
783,995
------------
------------
Net assets
3,241,729
3,403,792
------------
------------
Datashredders Limited
Statement of Financial Position (continued)
30 September 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
3,241,629
3,403,692
------------
------------
Shareholders funds
3,241,729
3,403,792
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 January 2025 , and are signed on behalf of the board by:
J Lefevre
Director
Company registration number: 05716583
Datashredders Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The trading address is Unit 2 Eastwood Industrial Estate, Eastwood End, Wimblington, March, PE15 0QH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: 1) Depreciation and amortisation charge The annual depreciation and amortisation charges for each class of fixed asset is based on an estimate of the useful economic life of the respective assets. This is reviewed periodically by the directors to ensure that they reflect both the external and internal factors. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred, which is usually on the despatch of goods, the amount of revenue can be measured reliably and it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Operating leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Goodwill Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
33% straight line
Other intangibles
-
33% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
10% straight line
Plant & machinery
-
10-25% straight line
Fixtures & fittings
-
25% straight line
Motor vehicles
-
25% reducing balance
Equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in other companies are accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Stocks
Stocks are measured 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 the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 45 (2023: 50 ).
5. Intangible assets
Goodwill
Other intangibles
Total
£
£
£
Cost
At 1 October 2023
285,000
160,000
445,000
Additions
38,125
38,125
---------
---------
---------
At 30 September 2024
285,000
198,125
483,125
---------
---------
---------
Amortisation
At 1 October 2023
285,000
95,042
380,042
Charge for the year
54,813
54,813
---------
---------
---------
At 30 September 2024
285,000
149,855
434,855
---------
---------
---------
Carrying amount
At 30 September 2024
48,270
48,270
---------
---------
---------
At 30 September 2023
64,958
64,958
---------
---------
---------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Oct 2023
372,885
3,807,049
53,890
1,744,408
310,508
6,288,740
Additions
55,382
4,488
321,945
25,186
407,001
Disposals
( 334,990)
( 624)
( 280,675)
( 616,289)
---------
------------
--------
------------
---------
------------
At 30 Sep 2024
372,885
3,527,441
57,754
1,785,678
335,694
6,079,452
---------
------------
--------
------------
---------
------------
Depreciation
At 1 Oct 2023
36,407
1,540,240
20,806
1,254,934
264,374
3,116,761
Charge for the year
37,288
444,253
14,438
77,274
31,695
604,948
Disposals
( 301,141)
( 8)
( 211,856)
( 513,005)
---------
------------
--------
------------
---------
------------
At 30 Sep 2024
73,695
1,683,352
35,236
1,120,352
296,069
3,208,704
---------
------------
--------
------------
---------
------------
Carrying amount
At 30 Sep 2024
299,190
1,844,089
22,518
665,326
39,625
2,870,748
---------
------------
--------
------------
---------
------------
At 30 Sep 2023
336,478
2,266,809
33,084
489,474
46,134
3,171,979
---------
------------
--------
------------
---------
------------
7. Investments
Other investments
£
Cost
At 1 October 2023 and 30 September 2024
14,400
--------
Impairment
At 1 October 2023 and 30 September 2024
--------
Carrying amount
At 30 September 2024
14,400
--------
At 30 September 2023
14,400
--------
The company owns 20% of the issued share capital of The Shredding Alliance Holdings Limited.
8. Debtors
2024
2023
£
£
Trade debtors
953,256
927,845
Amounts owed by group undertakings and undertakings in which the company has a participating interest
128,692
15,299
Other debtors
82,835
173,103
------------
------------
1,164,783
1,116,247
------------
------------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
57,114
65,184
Trade creditors
673,696
539,886
Social security and other taxes
202,820
168,433
Other creditors
177,308
178,910
------------
---------
1,110,938
952,413
------------
---------
Bank loans and overdrafts are secured against the assets of the company. Included within the comparative bank loans is a Coronavirus business interruption loan. The lender has been provided with a guarantee from the UK Government. Hire purchase agreements are secured on the assets to which they relate.
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
22,053
63,983
Other creditors
87,749
10,337
---------
--------
109,802
74,320
---------
--------
Bank loans and overdrafts are secured against the assets of the company. Included within the comparative bank loans is a Coronavirus business interruption loan. The lender has been provided with a guarantee from the UK Government. Hire purchase agreements are secured on the assets to which they relate.
11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
61,000
61,000
Later than 1 year and not later than 5 years
28,500
47,500
--------
---------
89,500
108,500
--------
---------
12. Controlling party
The company is a wholly subsidiary of under Datashredders Group Limited, a company registered in the United Kingdom. The ultimate controlling party are the directors. The financial statements of Datashredders Group Limited are available from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ