Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Catherine Alice Holcombe 16/05/2023 Kirsteen Jones 01/10/2024 Amy Matilda Newton 29/04/2025 24/05/2023 Philippa Louise Roberts Jeremy Martin Williams 28/04/2025 02/07/2024 23 June 2025 The principal activity of the Company during the financial year was that of environmental consulting activities, collection of non hazardous waste and recovery of sorted materials. 10348676 2025-03-31 10348676 bus:Director1 2025-03-31 10348676 bus:Director2 2025-03-31 10348676 bus:Director3 2025-03-31 10348676 bus:Director5 2025-03-31 10348676 2024-03-31 10348676 core:CurrentFinancialInstruments 2025-03-31 10348676 core:CurrentFinancialInstruments 2024-03-31 10348676 core:Non-currentFinancialInstruments 2025-03-31 10348676 core:Non-currentFinancialInstruments 2024-03-31 10348676 core:ShareCapital 2025-03-31 10348676 core:ShareCapital 2024-03-31 10348676 core:SharePremium 2025-03-31 10348676 core:SharePremium 2024-03-31 10348676 core:RetainedEarningsAccumulatedLosses 2025-03-31 10348676 core:RetainedEarningsAccumulatedLosses 2024-03-31 10348676 core:ComputerSoftware 2024-03-31 10348676 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 10348676 core:ComputerSoftware 2025-03-31 10348676 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-03-31 10348676 core:PlantMachinery 2024-03-31 10348676 core:OfficeEquipment 2024-03-31 10348676 core:ComputerEquipment 2024-03-31 10348676 core:OtherPropertyPlantEquipment 2024-03-31 10348676 core:PlantMachinery 2025-03-31 10348676 core:OfficeEquipment 2025-03-31 10348676 core:ComputerEquipment 2025-03-31 10348676 core:OtherPropertyPlantEquipment 2025-03-31 10348676 bus:OrdinaryShareClass1 2025-03-31 10348676 bus:PreferenceShareClass1 2025-03-31 10348676 core:WithinOneYear 2025-03-31 10348676 core:WithinOneYear 2024-03-31 10348676 core:BetweenOneFiveYears 2025-03-31 10348676 core:BetweenOneFiveYears 2024-03-31 10348676 2024-04-01 2025-03-31 10348676 bus:FilletedAccounts 2024-04-01 2025-03-31 10348676 bus:SmallEntities 2024-04-01 2025-03-31 10348676 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 10348676 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 10348676 bus:Director1 2024-04-01 2025-03-31 10348676 bus:Director2 2024-04-01 2025-03-31 10348676 bus:Director3 2024-04-01 2025-03-31 10348676 bus:Director4 2024-04-01 2025-03-31 10348676 bus:Director5 2024-04-01 2025-03-31 10348676 core:ComputerSoftware core:TopRangeValue 2024-04-01 2025-03-31 10348676 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2024-04-01 2025-03-31 10348676 core:PlantMachinery core:TopRangeValue 2024-04-01 2025-03-31 10348676 core:OfficeEquipment core:TopRangeValue 2024-04-01 2025-03-31 10348676 core:ComputerEquipment core:TopRangeValue 2024-04-01 2025-03-31 10348676 core:OtherPropertyPlantEquipment core:TopRangeValue 2024-04-01 2025-03-31 10348676 2023-04-01 2024-03-31 10348676 core:ComputerSoftware 2024-04-01 2025-03-31 10348676 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-01 2025-03-31 10348676 core:PlantMachinery 2024-04-01 2025-03-31 10348676 core:OfficeEquipment 2024-04-01 2025-03-31 10348676 core:ComputerEquipment 2024-04-01 2025-03-31 10348676 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 10348676 core:CurrentFinancialInstruments 2024-04-01 2025-03-31 10348676 core:Non-currentFinancialInstruments 2024-04-01 2025-03-31 10348676 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 10348676 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 10348676 bus:PreferenceShareClass1 2024-04-01 2025-03-31 10348676 bus:PreferenceShareClass1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10348676 (England and Wales)

BINIT GROUP LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

BINIT GROUP LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

BINIT GROUP LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
BINIT GROUP LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Intangible assets 3 231,311 12,674
Tangible assets 4 53,450 50,670
284,761 63,344
Current assets
Stocks 357 4,142
Debtors
- due within one year 5 167,139 120,352
- due after more than one year 5 58 58
Cash at bank and in hand 43,144 593,334
210,698 717,886
Creditors: amounts falling due within one year 6 ( 192,085) ( 218,087)
Net current assets 18,613 499,799
Total assets less current liabilities 303,374 563,143
Creditors: amounts falling due after more than one year 7 ( 13,735) ( 16,070)
Net assets 289,639 547,073
Capital and reserves
Called-up share capital 8 725 725
Share premium account 1,098,024 1,098,024
Profit and loss account ( 809,110 ) ( 551,676 )
Total shareholders' funds 289,639 547,073

For the financial year ending 31 March 2025 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 Binit Group Limited (registered number: 10348676) were approved and authorised for issue by the Board of Directors on 23 June 2025. They were signed on its behalf by:

Philippa Louise Roberts
Director
BINIT GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
BINIT GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
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

Binit Group 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 1-3 College Yard, Worcester, WR1 2LB, 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.

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.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 5 years straight line
Development costs 5 years straight line
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 basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Office equipment 5 years straight line
Computer equipment 4 years straight line
Other property, plant and equipment 4 years straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

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

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 13 7

3. Intangible assets

Computer software Development costs Total
£ £ £
Cost
At 01 April 2024 21,274 18,586 39,860
Additions 0 239,158 239,158
At 31 March 2025 21,274 257,744 279,018
Accumulated amortisation
At 01 April 2024 20,911 6,275 27,186
Charge for the financial year 236 20,285 20,521
At 31 March 2025 21,147 26,560 47,707
Net book value
At 31 March 2025 127 231,184 231,311
At 31 March 2024 363 12,311 12,674

4. Tangible assets

Plant and machinery Office equipment Computer equipment Other property, plant
and equipment
Total
£ £ £ £ £
Cost
At 01 April 2024 11,009 416 5,413 105,504 122,342
Additions 592 0 3,602 24,494 28,688
Disposals ( 4,733) 0 0 0 ( 4,733)
At 31 March 2025 6,868 416 9,015 129,998 146,297
Accumulated depreciation
At 01 April 2024 1,288 371 3,692 66,321 71,672
Charge for the financial year 1,383 36 1,718 19,300 22,437
Disposals ( 1,262) 0 0 0 ( 1,262)
At 31 March 2025 1,409 407 5,410 85,621 92,847
Net book value
At 31 March 2025 5,459 9 3,605 44,377 53,450
At 31 March 2024 9,721 45 1,721 39,183 50,670

5. Debtors

2025 2024
£ £
Debtors: amounts falling due within one year
Trade debtors 105,667 56,891
Prepayments and accrued income 49,702 63,461
VAT recoverable 11,594 0
Other debtors 176 0
167,139 120,352
Debtors: amounts falling due after more than one year
Other taxation and social security 58 58

6. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans 2,786 3,219
Trade creditors 137,856 183,798
Amounts owed to directors 1,973 2,049
Accruals and deferred income 28,472 4,990
Other taxation and social security 7,040 5,590
Other creditors 13,958 18,441
192,085 218,087

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

2025 2024
£ £
Bank loans 13,735 16,070

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

8. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
47,220 A ordinary shares of £ 0.01 each 472 472
25,287 Preference shares of £ 0.01 each 253 253
725 725

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2025 2024
£ £
within one year 25,566 9,500
between one and five years 0 3,166
25,566 12,666

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2025 2024
£ £
Unpaid contributions due to the fund (inc. in other creditors) 304 767

10. Related party transactions

Transactions with the entity's directors

During the year a director maintained a loan account with the company. At the end of the year the company owed the director £1,973 (2024: £2,049). No interest is charged and there are no set repayment terms.