Company registration number 04213892 (England and Wales)
RON SMITH (RECYCLING) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
RON SMITH (RECYCLING) LIMITED
COMPANY INFORMATION
Directors
Mr H Hutchins
Mr J Hutchins
Company number
04213892
Registered office
2 Lake End Court
Taplow Road
Taplow
Maidenhead
Berkshire
SL6 0JQ
Auditor
Stiles Accountants Limited
2 Lake End Court
Taplow Road
Taplow
Maidenhead
Berkshire
SL6 0JQ
Business address
St Albans Farm
Staines Road
Feltham
Middlesex
TW14 0HH
RON SMITH (RECYCLING) LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Group statement of comprehensive income
7
Group balance sheet
8 - 9
Company balance sheet
10 - 11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Company statement of cash flows
15
Notes to the financial statements
16 - 31
RON SMITH (RECYCLING) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024
- 1 -

The directors present the strategic report for the year ended 31 May 2024.

Review of the business

The results of the year have seen group sales increase to £11.09m (2023: £10.2m) while gross profit has increased to £2.89m (2023: £2.61m) with the increase in gross profit driven by the increase in turnover. A gross profit margin of 26.03% (2023: 25.61%) was achieved which is consistent with the prior year and driven by continuing efficiencies having restructured a site used by the group which has offset increasing operation costs in particular those associated with landfill waste disposal.

 

Administration costs for the group have increased by £84k, however as a result of the increase in turnover, profit before tax has increased to £1.03m (2023: £882,932). Shareholders funds have increased from £8.21m to £8.67m.

 

The group continues to hold a strong market share as demonstrated by the increased turnover. The group has continued to strengthen its position as the chosen supplier of its customers in a highly competitive industry.

Principal risks and uncertainties

The director recognises that the results of the group are at risk in respect of its competitors, industry regulation and increasing overheads as well as inflation levels in the UK. The director takes steps to minimise these risks as outlined in more detail below:

 

Competition

 

The group has invested in its systems and infrastructure including staff to ensure customers are well serviced with prompt delivery and collection of skips. Providing customers with a high level of personal and proactive service is a method used by the company to manage risk of customers working with its competitors.

 

Industry Regulation

 

As a result of waste and noise pollution, the group operates in a highly regulated industry. It is key that the group continues to process waste in an environmental way whilst ensuring it is compliant with regulation set by the Environmental Agency. In order to mitigate risk, the company invests heavily in its processes to ensure effective waste disposal and ensures it acts on visits and advice provided by the Environmental Agency as demonstrated by the redevelopment of one of its sites.

 

Increasing Overheads

 

Whilst the costs being incurred by the group are increasing, these continue to be monitored and managed to ensure that costs are reviewed, negotiated and managed on an ongoing basis. Market research and the monitoring of competitor businesses also enables the group to ensure that cost increases incurred are being passed onto customers, whilst monitoring any impact on customer relations and ensuring margins are in line with competitors.

On behalf of the board

Mr H Hutchins
Mr J Hutchins
Director
Director
23 May 2025
23 May 2025
RON SMITH (RECYCLING) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2024
- 2 -

The directors present their annual report and financial statements for the year ended 31 May 2024.

Principal activities

The principal activity of the company and group continued to be that of waste management.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £298,060. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr I Hutchins -Deceased
(Deceased 18 December 2024)
Mr H Hutchins
Mr J Hutchins
Future developments

Looking forward to the coming years, the group will continue to develop its operations and infrastructure in order to expand its customer base and retain long term customers.

Auditor

In accordance with the company's articles, a resolution proposing that Stiles Accountants Limited, Statutory Auditor be reappointed as auditor of the group will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report 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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RON SMITH (RECYCLING) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr H Hutchins
Mr J Hutchins
Director
Director
23 May 2025
RON SMITH (RECYCLING) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF RON SMITH (RECYCLING) LIMITED
- 4 -
Opinion

We have audited the financial statements of Ron Smith (Recycling) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 May 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including 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:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

RON SMITH (RECYCLING) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF RON SMITH (RECYCLING) LIMITED
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 is 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 parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 an auditor's report 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.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of management override of controls) and determined that the principal risks related to fraudulent transactions which may lead to an overstatement of profits, such as manipulation of accounting estimates including depreciation and revenue recognition (including deferred income related to skips yet to be collected from customers).

Based on our understanding of the company and industry, we identified principal risks of non-compliance with laws and regulations and we considered those laws and regulations which have a direct impact of the preparation of the financial statements such as the Companies Act 2006, FRS 102, health and safety laws, employment laws, contractual laws, General Data Protection Regulations (GDPR), UK tax legislation and regulation set by the Environmental Agency.

In order to mitigate risks detailed above in respect of fraud and non-compliance with laws and regulations, the following

procedures were undertaken by the audit team:

 

RON SMITH (RECYCLING) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF RON SMITH (RECYCLING) LIMITED
- 6 -

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's report 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.

Mr Daniel Robins (Senior Statutory Auditor)
For and on behalf of Stiles Accountants Limited, Statutory Auditor
Chartered Certified Accountants
2 Lake End Court
Taplow Road
Taplow
Maidenhead
Berkshire
SL6 0JQ
23 May 2025
RON SMITH (RECYCLING) LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2024
- 7 -
2024
2023
Notes
£
£
Turnover
3
11,090,259
10,201,824
Cost of sales
(8,203,390)
(7,589,499)
Gross profit
2,886,869
2,612,325
Administrative expenses
(1,743,419)
(1,659,440)
Operating profit
4
1,143,450
952,885
Interest receivable and similar income
7
4,051
633
Interest payable and similar expenses
8
(117,860)
(70,586)
Profit before taxation
1,029,641
882,932
Tax on profit
9
(264,069)
(212,757)
Profit for the financial year
23
765,572
670,175
Profit for the financial year is attributable to:
- Owners of the parent company
683,194
680,938
- Non-controlling interests
82,378
(10,763)
765,572
670,175
Total comprehensive income for the year is attributable to:
- Owners of the parent company
683,194
680,938
- Non-controlling interests
82,378
(10,763)
765,572
670,175
RON SMITH (RECYCLING) LIMITED
GROUP BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Tangible assets
11
10,599,014
9,871,548
10,599,014
9,871,548
Current assets
Stocks
14
34,270
31,458
Debtors
15
2,591,145
1,919,920
Cash at bank and in hand
631,685
802,842
3,257,100
2,754,220
Creditors: amounts falling due within one year
16
(2,522,913)
(2,104,197)
Net current assets
734,187
650,023
Total assets less current liabilities
11,333,201
10,521,571
Creditors: amounts falling due after more than one year
17
(1,568,701)
(1,471,379)
Provisions for liabilities
Deferred tax liability
20
1,091,344
844,548
(1,091,344)
(844,548)
Net assets
8,673,156
8,205,644
Capital and reserves
Called up share capital
22
100
100
Profit and loss reserves
23
8,076,659
7,691,525
Equity attributable to owners of the parent company
8,076,759
7,691,625
Non-controlling interests
596,397
514,019
Total equity
8,673,156
8,205,644
RON SMITH (RECYCLING) LIMITED
GROUP BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2024
31 May 2024
- 9 -

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 23 May 2025 and are signed on its behalf by:
23 May 2025
Mr H Hutchins
Mr J Hutchins
Director
Director
Company registration number 04213892 (England and Wales)
RON SMITH (RECYCLING) LIMITED
COMPANY BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
7,557,611
6,703,147
Investments
12
525,001
525,001
8,082,612
7,228,148
Current assets
Stocks
14
25,853
25,924
Debtors
15
2,612,389
2,282,452
Cash at bank and in hand
245,512
472,168
2,883,754
2,780,544
Creditors: amounts falling due within one year
16
(1,738,938)
(1,332,177)
Net current assets
1,144,816
1,448,367
Total assets less current liabilities
9,227,428
8,676,515
Creditors: amounts falling due after more than one year
17
(1,467,836)
(1,293,650)
Provisions for liabilities
Deferred tax liability
20
946,229
707,504
(946,229)
(707,504)
Net assets
6,813,363
6,675,361
Capital and reserves
Called up share capital
22
100
100
Profit and loss reserves
23
6,813,263
6,675,261
Total equity
6,813,363
6,675,361
RON SMITH (RECYCLING) LIMITED
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024
31 May 2024
- 11 -

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £436,062 (2023 - £713,226 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 23 May 2025 and are signed on its behalf by:
23 May 2025
Mr H Hutchins
Mr J Hutchins
Director
Director
Company registration number 04213892 (England and Wales)
RON SMITH (RECYCLING) LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
- 12 -
Share capital
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
Balance at 1 June 2022
100
7,298,447
7,298,547
524,782
7,823,329
Year ended 31 May 2023:
Profit and total comprehensive income
-
680,938
680,938
(10,763)
670,175
Dividends
10
-
(287,860)
(287,860)
-
(287,860)
Balance at 31 May 2023
100
7,691,525
7,691,625
514,019
8,205,644
Year ended 31 May 2024:
Profit and total comprehensive income
-
683,194
683,194
82,378
765,572
Dividends
10
-
(298,060)
(298,060)
-
(298,060)
Balance at 31 May 2024
100
8,076,659
8,076,759
596,397
8,673,156
RON SMITH (RECYCLING) LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
- 13 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 June 2022
100
6,249,894
6,249,994
Year ended 31 May 2023:
Profit and total comprehensive income for the year
-
713,227
713,227
Dividends
10
-
(287,860)
(287,860)
Balance at 31 May 2023
100
6,675,261
6,675,361
Year ended 31 May 2024:
Profit and total comprehensive income
-
436,062
436,062
Dividends
10
-
(298,060)
(298,060)
Balance at 31 May 2024
100
6,813,263
6,813,363
RON SMITH (RECYCLING) LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2024
- 14 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
1,430,214
1,549,407
Interest paid
(117,860)
(70,586)
Income taxes refunded/(paid)
66,150
(79,274)
Net cash inflow from operating activities
1,378,504
1,399,547
Investing activities
Purchase of tangible fixed assets
(46,992)
(54,589)
Proceeds from disposal of tangible fixed assets
345,720
197,000
Interest received
4,051
633
Net cash generated from investing activities
302,779
143,044
Financing activities
Repayment of bank loans
(34,588)
(76,215)
Payment of finance leases obligations
(1,519,792)
(937,743)
Dividends paid to equity shareholders
(298,060)
(287,860)
Net cash used in financing activities
(1,852,440)
(1,301,818)
Net (decrease)/increase in cash and cash equivalents
(171,157)
240,773
Cash and cash equivalents at beginning of year
802,842
562,069
Cash and cash equivalents at end of year
631,685
802,842
RON SMITH (RECYCLING) LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2024
- 15 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
1,186,507
1,090,676
Interest paid
(104,852)
(57,450)
Income taxes refunded/(paid)
66,150
(131,624)
Net cash inflow from operating activities
1,147,805
901,602
Investing activities
Purchase of tangible fixed assets
(21,197)
(18,795)
Proceeds from disposal of tangible fixed assets
266,220
135,500
Interest received
3,476
550
Net cash generated from investing activities
248,499
117,255
Financing activities
Repayment of bank loans
(34,588)
(76,215)
Payment of finance leases obligations
(1,290,312)
(612,468)
Dividends paid to equity shareholders
(298,060)
(287,860)
Net cash used in financing activities
(1,622,960)
(976,543)
Net (decrease)/increase in cash and cash equivalents
(226,656)
42,314
Cash and cash equivalents at beginning of year
472,168
429,854
Cash and cash equivalents at end of year
245,512
472,168
RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 16 -
1
Accounting policies
Company information

Ron Smith (Recycling) Limited (“the company”) is a private ompany limited by shares and domiciled and incorporated in England and Wales. The registered office is . The principal place of business is St Albans Farm, Staines Road, Feltham, Middlesex, TW14 0HH.

 

The group consists of Ron Smith (Recycling) Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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 £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Ron Smith (Recycling) Limited together with all entities controlled by the parent company (its subsidiaries).

 

All financial statements are made up to 31 May 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Revenue from services provided are generally reflected on the day of completion. Sales for skip hire are recognised in full on the delivery of hire skips to the customers sites. An appropriate proportion of deferred income is made where those hire skips have yet to be collected for recycling at the year end.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 17 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated as only land
Plant and equipment
20% reducing balance with 25% residual value and 20% straight line
Fixtures and fittings
20% straight line
Motor vehicles
20% reducing balance with 20% residual value.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.6
Fixed asset investments

Equity investments are recognised at cost less impairment.

 

In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 18 -
1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 19 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.11
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 20 -
1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessment consider issues such as the remaining life of the asset and the projected disposal value.

3
Turnover and other revenue

The turnover is attributable to the one principal activity of the company while all sales are made in the UK.

2024
2023
£
£
Other revenue
Interest income
4,051
633
RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 21 -
4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Fees payable to the group's auditor for the audit of the group's financial statements
9,050
8,650
Depreciation of owned tangible fixed assets
248,247
267,470
Depreciation of tangible fixed assets held under finance leases
406,797
299,147
(Profit)/loss on disposal of tangible fixed assets
(2,211)
5,735
5
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Management
33
5
3
3
Administration
5
5
5
5
Operatives
63
81
63
57
Total
101
91
71
65

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
3,192,829
2,852,380
2,296,832
1,943,108
Social security costs
305,997
270,612
219,499
197,382
Pension costs
39,942
43,078
26,769
30,945
3,538,768
3,166,070
2,543,100
2,171,435
6
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
29,880
29,640
RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 22 -
7
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
2,368
570
Other interest income
1,683
63
Total income
4,051
633
2024
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
2,368
570
8
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
73,023
37,813
Other finance costs:
Interest on finance leases and hire purchase contracts
43,979
32,773
Other interest
858
-
Total finance costs
117,860
70,586
9
Taxation
2024
2023
£
£
Current tax
Adjustments in respect of prior periods
-
0
(59,082)
Deferred tax
Origination and reversal of timing differences
264,069
271,839
Total tax charge
264,069
212,757
RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
9
Taxation
(Continued)
- 23 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
1,029,641
882,932
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 20.00%)
257,410
176,586
Tax effect of expenses that are not deductible in determining taxable profit
7,032
17,042
Unutilised tax losses carried forward
-
0
13,812
Group relief
-
0
(66,164)
Other permanent differences
-
0
7,089
Capital allowances in excess of depreciation
(290,958)
(207,447)
Other timing differences
43,789
-
0
Utilisation of loss brought forward
(17,273)
-
0
Deferred tax
264,069
271,839
Taxation charge
264,069
212,757

An increase in the UK corporation rate from 19% to 25% (effective 1 April 2023) was substantively enacted on 24 May

2021. A tapered rate has also been introduced for profits above £50,000, so that only businesses with profits of £250,000 or greater will be taxed at the full 25% rate.

10
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Final paid
58,177
47,977
Interim paid
239,883
239,883
298,060
287,860
RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 24 -
11
Tangible fixed assets
Group
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 June 2023
5,671,186
2,757,335
581,686
5,210,727
14,220,934
Additions
-
0
328,130
19,192
1,378,697
1,726,019
Disposals
-
0
(358,500)
-
0
(590,505)
(949,005)
At 31 May 2024
5,671,186
2,726,965
600,878
5,998,919
14,997,948
Depreciation and impairment
At 1 June 2023
182,422
1,618,790
480,627
2,067,547
4,349,386
Depreciation charged in the year
20,284
191,909
15,109
427,742
655,044
Eliminated in respect of disposals
-
0
(280,542)
-
0
(324,954)
(605,496)
At 31 May 2024
202,706
1,530,157
495,736
2,170,335
4,398,934
Carrying amount
At 31 May 2024
5,468,480
1,196,808
105,142
3,828,584
10,599,014
At 31 May 2023
5,488,764
1,138,545
101,059
3,143,180
9,871,548
Company
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 June 2023
3,459,967
2,085,506
61,760
3,919,412
9,526,645
Additions
-
0
233,950
2,397
1,369,697
1,606,044
Disposals
-
0
(271,000)
-
0
(392,658)
(663,658)
At 31 May 2024
3,459,967
2,048,456
64,157
4,896,451
10,469,031
Depreciation and impairment
At 1 June 2023
-
0
1,210,226
46,327
1,566,945
2,823,498
Depreciation charged in the year
-
0
143,787
4,698
335,407
483,892
Eliminated in respect of disposals
-
0
(203,250)
-
0
(192,720)
(395,970)
At 31 May 2024
-
0
1,150,763
51,025
1,709,632
2,911,420
Carrying amount
At 31 May 2024
3,459,967
897,693
13,132
3,186,819
7,557,611
At 31 May 2023
3,459,967
875,280
15,433
2,352,467
6,703,147
RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
11
Tangible fixed assets
(Continued)
- 25 -

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Group
Company
2024
2023
2024
2023
£
£
£
£
Plant and equipment
724,991
632,354
558,872
542,594
Motor vehicles
2,530,680
1,929,026
1,936,068
1,189,474
3,255,671
2,561,380
2,494,940
1,732,068

Net obligations under finance leases and hire purchase contracts are secured by way of a fixed charge over the assets concerned.

12
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
525,001
525,001
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 June 2023 and 31 May 2024
525,001
Carrying amount
At 31 May 2024
525,001
At 31 May 2023
525,001
13
Subsidiaries

Details of the company's subsidiaries at 31 May 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Aldermaston Recycling Limited
2 Lake End Court, Taplow Road, Taplow, Maidenhead, Berkshire, SL6 0JQ.
Ordinary
75.00
Big Bull Bags
2 Lake End Court, Taplow Road, Taplow, Maidenhead, Berkshire, SL6 0JQ.
Ordinary
100.00
RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 26 -
14
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Raw materials and consumables
34,270
31,458
25,853
25,924
15
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,850,643
1,510,171
1,442,406
1,307,200
Corporation tax recoverable
14
66,164
14
66,164
Amounts owed by group undertakings
-
-
672,697
672,585
Other debtors
191,643
139,261
119,984
114,261
Prepayments and accrued income
548,845
187,051
377,288
122,242
2,591,145
1,902,647
2,612,389
2,282,452
Deferred tax asset (note 20)
-
0
17,273
-
0
-
0
2,591,145
1,919,920
2,612,389
2,282,452
16
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans
18
41,359
40,338
41,359
40,338
Obligations under finance leases
19
601,391
575,087
481,567
396,827
Trade creditors
890,642
662,554
739,657
452,553
Other taxation and social security
346,257
326,087
204,201
175,745
Other creditors
69,821
74,155
50,162
54,198
Accruals and deferred income
573,443
425,976
221,992
212,516
2,522,913
2,104,197
1,738,938
1,332,177
RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 27 -
17
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
18
877,698
913,307
877,698
913,307
Obligations under finance leases
19
691,003
558,072
590,138
380,343
1,568,701
1,471,379
1,467,836
1,293,650
18
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
919,057
953,645
919,057
953,645
Payable within one year
41,359
40,338
41,359
40,338
Payable after one year
877,698
913,307
877,698
913,307

Bank borrowings are secured by a fixed and floating charge over all assets of the company and a fixed legal charge over all freehold property.

The bank loan which commenced during the prior year attracts an interest rate of 2% above the base rate fixed for 15 years from the commencement date of 12 July 2022.

 

19
Finance lease obligations
Group
Company
2024
2023
2024
2023
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
643,845
606,783
517,558
417,318
In two to five years
754,007
605,726
646,152
413,710
1,397,852
1,212,509
1,163,710
831,028
Less: future finance charges
(105,458)
(79,350)
(92,005)
(53,858)
1,292,394
1,133,159
1,071,705
777,170
RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
19
Finance lease obligations
(Continued)
- 28 -

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 2.5 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

 

Net obligations under finance leases are secured by fixed charges over the assets concerned.

20
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Group
£
£
£
£
Accelerated capital allowances
1,132,633
844,548
-
-
Tax losses
(41,289)
-
-
17,273
1,091,344
844,548
-
17,273
Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Company
£
£
£
£
Accelerated capital allowances
987,518
707,504
-
-
Tax losses
(41,289)
-
-
-
946,229
707,504
-
-
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 June 2023
827,275
707,504
Charge to profit or loss
264,069
238,725
Liability at 31 May 2024
1,091,344
946,229

The deferred tax liability set out above in respect of accelerated capital allowances is not expected to reverse for the foreseeable future as the group invests in its fixed assets year on year.

RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 29 -
21
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
39,942
43,078

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

 

Contributions totalling £6,632 (2023: £626) were payable to the fund at the year end.

22
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of 10p each
996
996
100
100
Ordinary B of 10p each
1
1
-
-
Ordinary C of 10p each
1
1
-
-
Ordinary D of 10p each
1
1
-
-
Ordinary E of 10p each
1
1
-
-

The ordinary A, B, C, D and E shares are irredeemable and have full rights in the company with regard to voting, dividend and capital distribution.

 

A dividend may be declared on each class of share independently and to the exclusion of the other share classes.

 

In all other respects each class of share ranks pari pasu.

23
Profit and loss reserves
Group
Company
2024
2023
2024
2023
£
£
£
£
At the beginning of the year
7,691,525
7,298,447
6,675,261
6,249,894
Profit for the year
683,194
680,938
436,062
713,227
Dividends
(298,060)
(287,860)
(298,060)
(287,860)
At the end of the year
8,076,659
7,691,525
6,813,263
6,675,261

The profit and loss reserve represents cumulative profits or losses, net of dividends paid and other adjustments.

RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 30 -
24
Related party transactions

During the year Ron Smith (Recycling) Limited sold goods and services to its 75% owned subsidiary, Aldermaston Recycling Limited totalling £152,429 (2023: £334,402). At the year end Aldermaston Recycling Limited owed Ron Smith (Recycling) Limited £33,710 (2023: £205,969), this balance is included within Trade debtors.

 

During the year Ron Smith (Recycling) Limited purchased goods and services from Aldermaston Recycling Limited totalling £25,517 (2023: £17,349). At the year end Ron Smith (Recycling) Limited owed Aldermaston Recycling Limited £30,621 (2023: £nil), this balance is included within Trade creditors.

 

At the year end the company was owed £672,697 (2023: £672,585) by Aldermaston Recycling Limited in relation to an intercompany loan. This loan is included within Debtors: amounts falling due within one year and is interest free and repayable on demand.

 

At the year end the company and group owed its director £40 (2023: £40). These balances are interest free and repayable on demand.

25
Cash generated from group operations
2024
2023
£
£
Profit after taxation
765,572
670,175
Adjustments for:
Taxation charged
264,069
212,757
Finance costs
117,860
70,586
Investment income
(4,051)
(633)
(Gain)/loss on disposal of tangible fixed assets
(2,211)
5,735
Depreciation and impairment of tangible fixed assets
655,044
566,617
Movements in working capital:
Increase in stocks
(2,812)
(4,568)
(Increase)/decrease in debtors
(754,648)
153,366
Increase/(decrease) in creditors
391,391
(124,628)
Cash generated from operations
1,430,214
1,549,407
RON SMITH (RECYCLING) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 31 -
26
Cash generated from operations - company
2024
2023
£
£
Profit after taxation
436,062
713,227
Adjustments for:
Taxation charged
238,725
60,993
Finance costs
104,852
57,450
Investment income
(3,476)
(550)
Loss on disposal of tangible fixed assets
1,468
6,892
Depreciation and impairment of tangible fixed assets
483,892
394,022
Movements in working capital:
Decrease/(increase) in stocks
71
(2,445)
(Increase)/decrease in debtors
(396,087)
220,801
Increase/(decrease) in creditors
321,000
(359,714)
Cash generated from operations
1,186,507
1,090,676
27
Analysis of changes in net debt - group
1 June 2023
Cash flows
New finance leases
31 May 2024
£
£
£
£
Cash at bank and in hand
802,842
(171,157)
-
631,685
Borrowings excluding overdrafts
(953,645)
34,588
-
(919,057)
Obligations under finance leases
(1,133,159)
1,519,792
(1,679,027)
(1,292,394)
(1,283,962)
1,383,223
(1,679,027)
(1,579,766)
28
Analysis of changes in net debt - company
1 June 2023
Cash flows
New finance leases
31 May 2024
£
£
£
£
Cash at bank and in hand
472,168
(226,656)
-
245,512
Borrowings excluding overdrafts
(953,645)
34,588
-
(919,057)
Obligations under finance leases
(777,170)
1,290,312
(1,584,847)
(1,071,705)
(1,258,647)
1,098,244
(1,584,847)
(1,745,250)
2024-05-312023-06-01falsefalseCCH SoftwareCCH Accounts Production 2025.100Mr I Hutchins -DeceasedMr H HutchinsMr J Hutchinsfalse04213892bus:Consolidated2023-06-012024-05-31042138922023-06-012024-05-3104213892bus:Director22023-06-012024-05-3104213892bus:Director32023-06-012024-05-3104213892bus:Director12023-06-012024-05-3104213892bus:RegisteredOffice2023-06-012024-05-31042138922024-05-3104213892bus:Consolidated2022-06-012023-05-31042138922022-06-012023-05-3104213892bus:Consolidated2024-05-3104213892bus:Consolidated2023-05-3104213892core:NetGoodwill2023-05-31042138922023-05-3104213892core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2024-05-3104213892core:PlantMachinerybus:Consolidated2024-05-3104213892core:FurnitureFittingsbus:Consolidated2024-05-3104213892core:MotorVehiclesbus:Consolidated2024-05-3104213892core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-05-3104213892core:PlantMachinerybus:Consolidated2023-05-3104213892core:FurnitureFittingsbus:Consolidated2023-05-3104213892core:MotorVehiclesbus:Consolidated2023-05-3104213892core:LandBuildingscore:OwnedOrFreeholdAssets2024-05-3104213892core:PlantMachinery2024-05-3104213892core:FurnitureFittings2024-05-3104213892core:MotorVehicles2024-05-3104213892core:LandBuildingscore:OwnedOrFreeholdAssets2023-05-3104213892core:PlantMachinery2023-05-3104213892core:FurnitureFittings2023-05-3104213892core:MotorVehicles2023-05-3104213892core:ShareCapitalbus:Consolidated2024-05-3104213892core:ShareCapitalbus:Consolidated2023-05-3104213892core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-05-3104213892core:Non-controllingInterestsbus:Consolidated2024-05-3104213892core:Non-controllingInterestsbus:Consolidated2023-05-3104213892core:ShareCapital2024-05-3104213892core:ShareCapital2023-05-3104213892core:RetainedEarningsAccumulatedLosses2024-05-3104213892core:RetainedEarningsAccumulatedLosses2023-05-3104213892core:ShareCapitalbus:Consolidated2022-05-31042138922022-05-3104213892core:RetainedEarningsAccumulatedLossesbus:Consolidated2024-05-3104213892core:ShareCapital2022-05-3104213892core:RetainedEarningsAccumulatedLosses2022-05-3104213892bus:Consolidated2022-05-3104213892core:LandBuildingscore:OwnedOrFreeholdAssets2023-06-012024-05-3104213892core:PlantMachinery2023-06-012024-05-3104213892core:FurnitureFittings2023-06-012024-05-3104213892core:MotorVehicles2023-06-012024-05-3104213892core:UKTaxbus:Consolidated2023-06-012024-05-3104213892core:UKTaxbus:Consolidated2022-06-012023-05-3104213892bus:Consolidated12023-06-012024-05-3104213892bus:Consolidated12022-06-012023-05-3104213892bus:Consolidated22023-06-012024-05-3104213892bus:Consolidated22022-06-012023-05-3104213892bus:Consolidated32023-06-012024-05-3104213892bus:Consolidated32022-06-012023-05-3104213892bus:Consolidated42023-06-012024-05-3104213892bus:Consolidated42022-06-012023-05-3104213892core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-05-3104213892core:PlantMachinerybus:Consolidated2023-05-3104213892core:FurnitureFittingsbus:Consolidated2023-05-3104213892core:MotorVehiclesbus:Consolidated2023-05-3104213892bus:Consolidated2023-05-3104213892core:LandBuildingscore:OwnedOrFreeholdAssets2023-05-3104213892core:PlantMachinery2023-05-3104213892core:FurnitureFittings2023-05-3104213892core:MotorVehicles2023-05-31042138922023-05-3104213892core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-06-012024-05-3104213892core:PlantMachinerybus:Consolidated2023-06-012024-05-3104213892core:FurnitureFittingsbus:Consolidated2023-06-012024-05-3104213892core:MotorVehiclesbus:Consolidated2023-06-012024-05-3104213892core:Subsidiary12023-06-012024-05-3104213892core:Subsidiary22023-06-012024-05-3104213892core:Subsidiary112023-06-012024-05-3104213892core:Subsidiary222023-06-012024-05-3104213892core:CurrentFinancialInstruments2024-05-3104213892core:CurrentFinancialInstruments2023-05-3104213892core:CurrentFinancialInstrumentsbus:Consolidated2024-05-3104213892core:CurrentFinancialInstrumentsbus:Consolidated2023-05-3104213892core:WithinOneYearbus:Consolidated2024-05-3104213892core:WithinOneYearbus:Consolidated2023-05-3104213892core:CurrentFinancialInstrumentscore:WithinOneYear2024-05-3104213892core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3104213892core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2024-05-3104213892core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2023-05-3104213892core:Non-currentFinancialInstrumentscore:AfterOneYear2024-05-3104213892core:Non-currentFinancialInstrumentscore:AfterOneYear2023-05-3104213892core:Non-currentFinancialInstrumentsbus:Consolidated2024-05-3104213892core:Non-currentFinancialInstrumentsbus:Consolidated2023-05-3104213892core:Non-currentFinancialInstruments2024-05-3104213892core:Non-currentFinancialInstruments2023-05-3104213892core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2024-05-3104213892core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-05-3104213892core:WithinOneYear2024-05-3104213892core:WithinOneYear2023-05-3104213892core:BetweenTwoFiveYearsbus:Consolidated2024-05-3104213892core:BetweenTwoFiveYearsbus:Consolidated2023-05-3104213892core:BetweenTwoFiveYears2024-05-3104213892core:BetweenTwoFiveYears2023-05-3104213892bus:PrivateLimitedCompanyLtd2023-06-012024-05-3104213892bus:FRS1022023-06-012024-05-3104213892bus:Audited2023-06-012024-05-3104213892bus:ConsolidatedGroupCompanyAccounts2023-06-012024-05-3104213892bus:FullAccounts2023-06-012024-05-31xbrli:purexbrli:sharesiso4217:GBP