Silverfin false false 31/12/2024 01/01/2024 31/12/2024 D G Bulow 06/03/2025 M P Grosfeld 11/02/2022 L J Wigfield 10/03/2025 29/06/2022 12 June 2025 The principal activity of the Company during the financial year was the renting and leasing of portable toilets. 13428442 2024-12-31 13428442 bus:Director1 2024-12-31 13428442 bus:Director2 2024-12-31 13428442 bus:Director3 2024-12-31 13428442 2023-12-31 13428442 core:CurrentFinancialInstruments 2024-12-31 13428442 core:CurrentFinancialInstruments 2023-12-31 13428442 core:Non-currentFinancialInstruments 2024-12-31 13428442 core:Non-currentFinancialInstruments 2023-12-31 13428442 core:ShareCapital 2024-12-31 13428442 core:ShareCapital 2023-12-31 13428442 core:RetainedEarningsAccumulatedLosses 2024-12-31 13428442 core:RetainedEarningsAccumulatedLosses 2023-12-31 13428442 core:PlantMachinery 2023-12-31 13428442 core:Vehicles 2023-12-31 13428442 core:ComputerEquipment 2023-12-31 13428442 core:PlantMachinery 2024-12-31 13428442 core:Vehicles 2024-12-31 13428442 core:ComputerEquipment 2024-12-31 13428442 bus:OrdinaryShareClass1 2024-12-31 13428442 2024-01-01 2024-12-31 13428442 bus:FilletedAccounts 2024-01-01 2024-12-31 13428442 bus:SmallEntities 2024-01-01 2024-12-31 13428442 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 13428442 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13428442 bus:Director1 2024-01-01 2024-12-31 13428442 bus:Director2 2024-01-01 2024-12-31 13428442 bus:Director3 2024-01-01 2024-12-31 13428442 core:PlantMachinery core:TopRangeValue 2024-01-01 2024-12-31 13428442 core:Vehicles 2024-01-01 2024-12-31 13428442 core:ComputerEquipment 2024-01-01 2024-12-31 13428442 2023-01-01 2023-12-31 13428442 core:PlantMachinery 2024-01-01 2024-12-31 13428442 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 13428442 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 13428442 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 13428442 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13428442 (England and Wales)

ONTRAX RENTALS UK LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

ONTRAX RENTALS UK LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

ONTRAX RENTALS UK LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
ONTRAX RENTALS UK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Tangible assets 4 2,900,218 3,128,936
2,900,218 3,128,936
Current assets
Debtors 5 163,216 146,142
Cash at bank and in hand 230,401 53,599
393,617 199,741
Creditors: amounts falling due within one year 6 ( 144,104) ( 74,369)
Net current assets 249,513 125,372
Total assets less current liabilities 3,149,731 3,254,308
Creditors: amounts falling due after more than one year 7 ( 3,901,231) ( 4,106,386)
Net liabilities ( 751,500) ( 852,078)
Capital and reserves
Called-up share capital 8 1,000 1,000
Profit and loss account ( 752,500 ) ( 853,078 )
Total shareholder's deficit ( 751,500) ( 852,078)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Ontrax Rentals UK Limited (registered number: 13428442) were approved and authorised for issue by the Board of Directors on 12 June 2025. They were signed on its behalf by:

M P Grosfeld
Director
ONTRAX RENTALS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
ONTRAX RENTALS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ontrax Rentals UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £751,500. The Company is supported through loans from the Parent Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Prior year adjustment

During the preparation of the accounts for the year ended 31 December 2024, it was identified that an amount of £488,946 should have been shown in other creditors rather than amounts owed to Group undertakings. The comparative amount of £506,267 has also been moved to show in other creditors rather than amounts owed to Group undertakings. Further information is shown in note 2 to the accounts.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Plant and machinery 10 years straight line
Vehicles 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Prior year adjustment

During the preparation of the accounts for the year ended 31 December 2024, it was identified that an amount of £488,946 should have been shown in other creditors rather than amounts owed to Group undertakings. The comparative amount of £506,267 has also been moved to show in other creditors rather than amounts owed to Group undertakings.

As previously reported Adjustment As restated
Year ended 31 December 2023 £ £ £
Amounts owed to Group undertakings 4,106,386 (506,267) 3,600,119
Other creditors 0 506,267 506,267

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

4. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 January 2024 3,619,546 135,417 5,202 3,760,165
Additions 157,185 20,785 0 177,970
Disposals ( 7,236) 0 0 ( 7,236)
At 31 December 2024 3,769,495 156,202 5,202 3,930,899
Accumulated depreciation
At 01 January 2024 583,803 45,732 1,694 631,229
Charge for the financial year 372,521 26,175 877 399,573
Disposals ( 121) 0 0 ( 121)
At 31 December 2024 956,203 71,907 2,571 1,030,681
Net book value
At 31 December 2024 2,813,292 84,295 2,631 2,900,218
At 31 December 2023 3,035,743 89,685 3,508 3,128,936

5. Debtors

2024 2023
£ £
Trade debtors 93,097 0
Amounts owed by Group undertakings 65,119 140,862
Other debtors 5,000 5,280
163,216 146,142

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 36,414 4,073
Accruals 4,943 48,855
Other taxation and social security 57,989 20,744
Other creditors 44,758 697
144,104 74,369

There are no amounts included above in respect of which any security has been given by the small entity.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Amounts owed to Group undertakings 3,442,520 3,600,119
Other creditors 458,711 506,267
3,901,231 4,106,386

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

9. Related party transactions

Other related party transactions

2024 2023
£ £
Ontrax Europe 65,119 140,862
Ontario Limited (3,442,520) (3,600,119)