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Company Registration No. 09187131 (England and Wales)
SECURE DATA RECYCLING LTD
Financial Statements
for the Period from 01 November 2023 to 31 October 2024

SECURE DATA RECYCLING LTD

Financial Statements for the period ending 31 October 2024

SECURE DATA RECYCLING LTD

Financial Statements for the period ending 31 October 2024

Notes to the Accounts

1. Statutory Information
SECURE DATA RECYCLING LTD is a private company, limited by shares, registered in England and Wales, registration number 09187131.
2. Accounting Policies
Basis of preparing the Financial Statements
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities.
Presentation Currency
The accounts are presented in £ sterling.
Current 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.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 substantially enacted at the reporting date.
Tangible Fixed Asset Policy
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.An increase in the carrying amount of an asset as the result of a revaluation is recognised in other comprehensive income and accumulated equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit and loss.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 improvements - 10% straight linePlant and machinery - 10% straight lineFixtures & Fittings - 20% straight lineMotor Vehicles - 25% reducing balance

SECURE DATA RECYCLING LTD

Financial Statements for the period ending 31 October 2024

Notes to the Accounts

Impairmant of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stock
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
Deferred Tax
Deferred tax is recoginised in respect of all 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 substantially enacted by the reporting date that are expected to apply to the reversal of the timing differences.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 directs costs of the lease are added to the amount recognised as an asset.

SECURE DATA RECYCLING LTD

Financial Statements for the period ending 31 October 2024

Notes to the Accounts

3. Employees
Average number of employees, including directors, during the year was as follows:
2024 1
2023 1
4. Principal Activity
The secure recycling of confidential waste
5. Fixed Assets
Land and buildings Plant and Machinery Motor Vehicles Fixtures and Fittings Total
Cost or valuation £ £ £ £ £
At 01/11/2023 14,161 78,560 118,034 4,836 215,591
Additions - - 84,926 - 84,926
At 31/10/2024 14,161 78,560 202,960 4,836 300,517
Depreciation
At 01/11/2023 3,541 41,519 36,047 2,610 83,717
Charge for the year 1,416 7,856 25,272 967 35,511
At 31/10/2024 4,957 49,375 61,319 3,577 119,228
Net Book Value
At 31/10/2024 9,204 29,185 141,641 1,259 181,289
At 31/10/2023 10,620 37,041 81,987 2,226 131,874