Shred-On-Site Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06195649

Shred-On-Site Limited

Filleted Unaudited Financial Statements

For the period ended

31 March 2025

Shred-On-Site Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	1,948,381	2,087,080
Investments	6	20,000	20,000
		------------	------------
		1,968,381	2,107,080

Current assets

Stocks		43,136	3,500
Debtors	7	851,084	915,392
Cash at bank and in hand		199,402	474,676
		------------	------------
		1,093,622	1,393,568

Creditors: amounts falling due within one year	8	663,335	1,105,886
		------------	------------
Net current assets		430,287	287,682
		------------	------------
Total assets less current liabilities		2,398,668	2,394,762

Creditors: amounts falling due after more than one year	9	155,658	248,997

Provisions

Taxation including deferred tax	10	400,475	416,558
Other provisions	10	300,000	–
		---------	---------
		700,475	416,558
		------------	------------
Net assets		1,542,535	1,729,207
		------------	------------

Shred-On-Site Limited

Statement of Financial Position (continued)

31 March 2025

	2025	2024
Note	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,542,435	1,729,107
	------------	------------
Shareholders funds	1,542,535	1,729,207
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 11 August 2025 , and are signed on behalf of the board by:

N R Matthews

Director

Company registration number: 06195649

Shred-On-Site Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Optima Park, Unit 4 Thomas Road, Dartford, England, DA1 4QX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis .

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as disclosed in the accounting policies. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are disclosed within the accounting policies. 1) Depreciation The annual depreciation charge for each class of tangible asset and the amortisation charge for the intangible asset is based on estimate of the useful economic life of the respective assets. This is reviewed periodically by the directors to ensure that they reflect both the external and internal factors. 2) Dilapidation provision A provision for dilapidation costs has been included based on the best estimate of costs to be incurred at the end of the lease to reinstate the condition of the company's leased premises. This has been based on third party surveyor reports.

Revenue recognition

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% straight line
Consoles	-	5% or 33% straight line
Motor vehicles	-	12% straight line
Computer Equipment	-	10% or 33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Defined contribution pension plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 54 (2024: 58 ).

5. Tangible assets

	Plant and machinery	Consoles	Motor vehicles	Computer Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	290,888	252,561	3,197,439	64,243	3,805,131
Additions	11,450	17,957	201,976	4,424	235,807
Disposals	–	( 20,111)	( 75,368)	–	( 95,479)
	---------	---------	------------	--------	------------
At 31 March 2025	302,338	250,407	3,324,047	68,667	3,945,459
	---------	---------	------------	--------	------------
Depreciation
At 1 April 2024	244,363	100,887	1,324,876	47,925	1,718,051
Charge for the year	17,440	31,533	282,428	11,291	342,692
Disposals	–	( 20,111)	( 43,554)	–	( 63,665)
	---------	---------	------------	--------	------------
At 31 March 2025	261,803	112,309	1,563,750	59,216	1,997,078
	---------	---------	------------	--------	------------
Carrying amount
At 31 March 2025	40,535	138,098	1,760,297	9,451	1,948,381
	---------	---------	------------	--------	------------
At 31 March 2024	46,525	151,674	1,872,563	16,318	2,087,080
	---------	---------	------------	--------	------------

6. Investments

	Shares in participating interests
	£
Cost
At 1 April 2024 and 31 March 2025	20,000
	--------
Impairment
At 1 April 2024 and 31 March 2025	–
	--------

Carrying amount
At 31 March 2025	20,000
	--------
At 31 March 2024	20,000
	--------

The company owns 20% of the issued share capital of The Shredding Alliance Holdings Limited.

7. Debtors

	2025	2024
	£	£
Trade debtors	574,786	709,005
Amounts owed by group undertakings and undertakings in which the company has a participating interest	107,466	–
Other debtors	168,832	206,387
	---------	---------
	851,084	915,392
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	81,255	71,987
Amounts owed to group undertakings and undertakings in which the company has a participating interest	87,172	398,264
Social security and other taxes	205,414	215,081
Other creditors	289,494	420,554
	---------	------------
	663,335	1,105,886
	---------	------------

Included in other creditors are hire purchase agreements £226,137 (2023 - £370,721) which are secured against the assets to which they relate.

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

	2025	2024
	£	£
Other creditors	155,658	248,997
	---------	---------

Included in other creditors are hire purchase agreements of £155,658 (2023 £248,997) which are secured against the assets to which they relate.

10. Provisions

	Deferred tax	Dilapidations	Total
	£	£	£
At 1 April 2024	416,558	–	416,558
Additions	( 16,083)	300,000	283,917
	---------	---------	---------
At 31 March 2025	400,475	300,000	700,475
	---------	---------	---------

11. Operating leases

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

	2025	2024
	£	£
Not later than 1 year	170,349	215,737
Later than 1 year and not later than 5 years	168,371	199,245
	---------	---------
	338,720	414,982
	---------	---------

12. Events after the end of the reporting period

On 4 April 2025, the parent company, Mass Holdings and Investments Limited was acquired by Restore plc which became the ultimate controlling party.

13. Directors' advances, credits and guarantees

At the balance sheet date the total amounts owed to the company by the directors were £nil (2023 £66,327).

14. Controlling party

T he immediate and ultimate parent company at throughout the year ended 31 March 2025 was Mass Holdings and Investments Limited, a company registered in England and Wales.