REGISTERED NUMBER: 02693780 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2025

for

M. & M. SKIP HIRE LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

6

Balance Sheet

7

Statement of Changes in Equity

8

Cash Flow Statement

9

Notes to the Cash Flow Statement

10

Notes to the Financial Statements

11

DIRECTORS:

A Pharaon

R D J Fluckiger

REGISTERED OFFICE:

9 Worton Park

Cassington

Witney

Oxfordshire

OX29 4SX

BUSINESS ADDRESS:

Worton Park

Cassington

Witney

Oxfordshire

OX29 4FL

REGISTERED NUMBER:

02693780 (England and Wales)

SENIOR STATUTORY AUDITOR:

Adam Woolford

AUDITORS:

Camerons Accountancy Consultants Limited

Statutory Auditor

Chartered Accountants

9 Worton Park

Cassington

Witney

Oxfordshire

OX29 4SX

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

The loss for the year, after adjustments for taxation, amounted to £629,336 (2024 - profit of £149,986). The company's key performance indicators during the year were as follows:

2025

2024

Turnover

£12,150k

£11,403k

Operating profit/(loss)

£(530k)

£84k

Profit/(loss) for the financial year

£(629k)

£150k

Shareholders' funds

£2,318k

£2,947k

Average number of employees

85

81

PRINCIPAL RISKS AND UNCERTAINTIES

The following risks face the business, all of which arise in the normal course of the company's operations:

Liquidity risk - This risk is managed by focusing on working capital flows.

Credit risk - The company monitors the exposure to credit risk on an ongoing basis and credit evaluations are performed on customers requiring credit.

Regulatory compliance risk - The company operates in a highly regulated sector; failure to comply with regulations can have significant consequences ranging from fines to suspension of activities. The regulations cover areas including health & safety, environment and planning. The company operates to ISO 9001, ISO 14001 and ISO 45001 with an integrated management system. Compliance with regulation is monitored through regular internal and external audits.

Competitor risk - The company monitors competitors' prices and ensures delivering excellent service to stay ahead of these competitors.

Recyclable material price risk - The company continues to strive for higher recovery of recyclable materials and thus, reducing residual waste tonnages. The company is exposed to price movements in these recyclable material prices and actively researches the market for the best prices.

DEVELOPMENT AND PERFORMANCE

The company purchased the assets of Buckinghamshire based SCB (Skip Hire) Ltd in March 2021. This has increased the company's geographical footprint and provides an additional waste transfer station to operate from. The directors believe that this, similar acquisitions and continued capital investment are key to the company's growth.

ON BEHALF OF THE BOARD:

R D J Fluckiger - Director

23 December 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the hire of domestic and commercial skips and the operation of two waste transfer stations.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

A Pharaon

R D J Fluckiger

Other changes in directors holding office are as follows:

B Smith - resigned 19 March 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Camerons Accountancy Consultants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

R D J Fluckiger - Director

23 December 2025

Opinion

We have audited the financial statements of M. & M. Skip Hire Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of 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:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the 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 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

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

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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:

During our fraud discussions for the audit of the year to March 2025, the audit team identified no significant areas that were susceptible to misstatement.

The nature of the skip hire industry is not considered high risk as the business is not cash based.

We consider the entity's risk assessment procedures adequate for this type of business, and the client has adequate

monitoring of controls.

We have made enquiries of management to identify significant laws and regulations that must be adhered to by M&M Skip Hire Limited. Failure to comply with these regulations can have significant consequences including fines &

suspension of activities.

Laws and regulations identified were as follows:

- Environment & planning laws

- Health and safety laws

- Employment law

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.

Adam Woolford (Senior Statutory Auditor)

for and on behalf of Camerons Accountancy Consultants Limited

Statutory Auditor

Chartered Accountants

9 Worton Park

Cassington

Witney

Oxfordshire

OX29 4SX

23 December 2025

TURNOVER

12,150,235

11,403,452

Cost of sales

10,567,757

9,434,268

GROSS PROFIT

1,582,478

1,969,184

Administrative expenses

2,347,497

2,219,601

(765,019

)

(250,417

)

Other operating income

235,000

334,890

OPERATING (LOSS)/PROFIT

4

(530,019

)

84,473

Interest receivable and similar income

25,249

15,556

(504,770

)

100,029

Interest payable and similar expenses

5

70,402

85,590

(LOSS)/PROFIT BEFORE TAXATION

(575,172

)

14,439

Tax on (loss)/profit

6

50,792

(132,175

)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(625,964

)

146,614

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(625,964

)

146,614

FIXED ASSETS

Intangible assets

7

33,345

50,745

Tangible assets

8

2,694,161

3,814,621

Investments

9

1

1

2,727,507

3,865,367

CURRENT ASSETS

Stocks

10

11,360

16,629

Debtors

11

2,153,905

1,968,205

Cash at bank and in hand

1,338,068

1,405,545

3,503,333

3,390,379

CREDITORS

Amounts falling due within one year

12

2,932,219

2,740,497

NET CURRENT ASSETS

571,114

649,882

TOTAL ASSETS LESS CURRENT LIABILITIES

3,298,621

4,515,249

CREDITORS

Amounts falling due after more than one year

13

(708,480

)

(1,315,950

)

PROVISIONS FOR LIABILITIES

15

(272,330

)

(255,524

)

NET ASSETS

2,317,811

2,943,775

CAPITAL AND RESERVES

Called up share capital

16

160

160

Share premium

157,440

157,440

Retained earnings

2,160,211

2,786,175

SHAREHOLDERS' FUNDS

2,317,811

2,943,775

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

T Smith - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 April 2023

160

2,639,561

157,440

2,797,161

Changes in equity

Total comprehensive income

-

146,614

-

146,614

Balance at 31 March 2024

160

2,786,175

157,440

2,943,775

Changes in equity

Total comprehensive income

-

(625,964

)

-

(625,964

)

Balance at 31 March 2025

160

2,160,211

157,440

2,317,811

Cash flows from operating activities

Cash generated from operations

1

904,908

1,669,814

Interest paid

(39,710

)

(51,985

)

Interest element of hire purchase payments paid

(30,692

)

(33,605

)

Tax paid

(3,373

)

17,151

Net cash from operating activities

831,133

1,601,375

Cash flows from investing activities

Purchase of tangible fixed assets

(302,153

)

(86,336

)

Sale of tangible fixed assets

81,315

9,486

Group loan repayments

(348,001

)

(232,000

)

Interest received

25,249

15,556

Net cash from investing activities

(543,590

)

(293,294

)

Cash flows from financing activities

Capital repayments in year

(355,020

)

(415,715

)

Net cash from financing activities

(355,020

)

(415,715

)

(Decrease)/increase in cash and cash equivalents

(67,477

)

892,366

Cash and cash equivalents at beginning of year

2

1,405,545

513,179

Cash and cash equivalents at end of year

2

1,338,068

1,405,545

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

(Loss)/profit before taxation

(575,172

)

14,439

Depreciation charges

1,364,822

1,466,748

Profit on disposal of fixed assets

(6,123

)

(280

)

Finance costs

70,402

85,590

Finance income

(25,249

)

(15,556

)

828,680

1,550,941

Decrease/(increase) in stocks

5,269

(1,274

)

Increase in trade and other debtors

(185,700

)

(141,580

)

Increase in trade and other creditors

256,659

261,727

Cash generated from operations

904,908

1,669,814

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31/3/25

1/4/24

£

£

Cash and cash equivalents

1,338,068

1,405,545

Year ended 31 March 2024

31/3/24

1/4/23

£

£

Cash and cash equivalents

1,405,545

513,179

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/24

Cash flow

At 31/3/25

£

£

£

Net cash

Cash at bank and in hand

1,405,545

(67,477

)

1,338,068

1,405,545

(67,477

)

1,338,068

Debt

Finance leases

(800,970

)

355,020

(445,950

)

(800,970

)

355,020

(445,950

)

Total

604,575

287,543

892,118

1.	STATUTORY INFORMATION

M. & M. Skip Hire Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax. Income from the hire of skips is recognised when the skip is delivered.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of six years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Weighbridge

-

10% on cost

Improvements to leasehold

-

25% on cost, 12.5% on cost and 2% on cost

Plant and machinery

-

50% on cost, 25% on cost and 20% on cost

Recycling plant

-

12.5% or 25% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The total wages and salaries cost for the year was £3,291,569 (£3,012,208 in 2024).

The total social security cost for the year was £345,365 (£310,390 in 2024).

The total pension cost for the year was £97,907 (£83,457 in 2024).

The average number of employees in the year was 85 (81 in 2024)

2025

2024

£

£

Directors' remuneration

254,602

262,650

Directors' pension contributions to money purchase schemes

26,844

23,639

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

169,744

164,800

Pension contributions to money purchase schemes

15,277

14,832

4.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

991,377

1,022,609

Depreciation - assets on hire purchase contracts

356,044

426,739

Profit on disposal of fixed assets

(6,123

)

(280

)

Goodwill amortisation

17,400

17,400

Auditors' remuneration

14,310

13,321

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Loan

39,710

51,985

Hire purchase

30,692

33,605

70,402

85,590

6.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the loss for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

33,986

3,372

Deferred tax

16,806

(135,547

)

Tax on (loss)/profit

50,792

(132,175

)

Reconciliation of total tax charge/(credit) included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

(Loss)/profit before tax

(575,172

)

14,439

(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

(143,793

)

3,610

Effects of:

Expenses not deductible for tax purposes

320

1,196

Depreciation in excess of capital allowances

199,717

235,438

Utilisation of tax losses

(22,258

)

(236,872

)

Deferred taxation

16,806

(135,547

)

Total tax charge/(credit)

50,792

(132,175

)

7.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

103,778

AMORTISATION

At 1 April 2024

53,033

Amortisation for year

17,400

At 31 March 2025

70,433

NET BOOK VALUE

At 31 March 2025

33,345

At 31 March 2024

50,745

Goodwill is the amount paid in connection with the acquisition of the assets of SCB (Skip Hire) Limited on 17th March 2021. This is being amortised over the estimated useful life to March 2027.

The consideration transferred in respect of this purchase totalled £621,948 which was recognised in the 2021 accounts as follows, in accordance with the business sale agreement:

Goodwill £103,778

Plant & Machinery £300,623

Motor Vehicles £217,547

8.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Weighbridge

leasehold

machinery

£

£

£

COST

At 1 April 2024

16,220

1,200,153

1,942,307

Additions

-

-

156,236

Disposals

-

-

-

At 31 March 2025

16,220

1,200,153

2,098,543

DEPRECIATION

At 1 April 2024

16,220

488,460

1,584,988

Charge for year

-

51,210

163,489

Eliminated on disposal

-

-

-

At 31 March 2025

16,220

539,670

1,748,477

NET BOOK VALUE

At 31 March 2025

-

660,483

350,066

At 31 March 2024

-

711,693

357,319

Recycling

Motor

plant

vehicles

Totals

£

£

£

COST

At 1 April 2024

6,691,154

2,925,264

12,775,098

Additions

28,256

117,661

302,153

Disposals

(55,245

)

(99,871

)

(155,116

)

At 31 March 2025

6,664,165

2,943,054

12,922,135

DEPRECIATION

At 1 April 2024

4,705,089

2,165,720

8,960,477

Charge for year

805,406

327,316

1,347,421

Eliminated on disposal

(30,419

)

(49,505

)

(79,924

)

At 31 March 2025

5,480,076

2,443,531

10,227,974

NET BOOK VALUE

At 31 March 2025

1,184,089

499,523

2,694,161

At 31 March 2024

1,986,065

759,544

3,814,621