MSK Waste Management and Recycling Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06249808

MSK WASTE MANAGEMENT AND RECYCLING LIMITED

FILLETED FINANCIAL STATEMENTS

31 March 2025

MSK WASTE MANAGEMENT AND RECYCLING LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

Contents	Pages

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	3 to 9

MSK WASTE MANAGEMENT AND RECYCLING LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	M J Doughty
	N O'Keeffe
	A R Stone
	D J Guildford
	M E Stone
	L Guildford

Company secretary	M E Stone

Registered office	Numeric House
	98 Station Road
	Sidcup
	Kent
	DA15 7BY

Auditor	Affinia (Orpington)
	Chartered Accountants & statutory auditor
	Lynwood House
	Crofton Road
	Orpington
	Kent
	BR6 8QE

Bankers	Barclays Bank Plc
	1 Churchill Place
	Canary Wharf
	London
	E14 5HP

Solicitors	Clarkson Wright & Jakes Ltd
	Valiant House
	12 Knoll Rise
	Orpington
	BR6 0PG

MSK WASTE MANAGEMENT AND RECYCLING LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
			(restated)
Note	£	£	£

Fixed assets

Tangible assets	6		1,927,275	2,151,298

Current assets

Stocks		8,934	8,934
Debtors	7	3,135,124	2,863,550
Cash at bank and in hand		276,233	179
		------------	------------
		3,420,291	2,872,663

Creditors: amounts falling due within one year	8	2,469,490		2,185,330
		------------		------------
Net current assets			950,801	687,333
			------------	------------
Total assets less current liabilities			2,878,076	2,838,631

Creditors: amounts falling due after more than one year	9		75,056	109,118

Provisions

Taxation including deferred tax	263,565	308,660
	------------	------------
Net assets	2,539,455	2,420,853
	------------	------------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	2,538,455	2,419,853
	------------	------------
Shareholders funds	2,539,455	2,420,853
	------------	------------

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 comprehensive income has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 23 December 2025 , and are signed on behalf of the board by:

M J Doughty

Director

Company registration number: 06249808

MSK WASTE MANAGEMENT AND RECYCLING 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 Numeric House, 98 Station Road, Sidcup, Kent, DA15 7BY.

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, as modified by the revaluation of certain financial assets and liabilities measured at fair value through the statement of comprehensive income. The financial statements are prepared in sterling, which is the functional currency of the entity.

Debtors

Debtors are initially recorded at fair value and are assessed for impairment at each year end date. If any impairments exist the debtors are remeasured to the present value of the expected future cash inflows.

Creditors

Creditors are initially recorded at fair value and are then remeasured to the present value of the expected future cash outflows.

Judgements and key sources of estimation uncertainty

There are no significant estimates or assumptions made that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Revenue recognition

Revenue refers to the amounts earned from the Company's principal activity; that of waste recycling and disposal. The revenue shown in the income statement represents amounts invoiced during the year, exclusive of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income. 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 all 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Tangible assets with a cost value in excess of £1,000 are capitalised, all items below this limit are expensed through the statement of comprehensive income. The only exception are any skips and bins as these are all capitalised. The bank holds a floating charge over the property or undertaking of the company.

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:

Improvements to Leasehold Property	-	2% straight line
Plant & Machinery	-	3 to 50 Years Straight line
Fixtures & Fittings	-	6 Years Straight line
Motor Vehicles	-	12% straight line

Included in Motor Vehicles are Skip Vehicles which are depreciated over the life of the asset, being 5 to 8 years .

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all of cost 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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in the statement of comprehensive income unless the provision was originally recognised as part of the cost of an asset.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution 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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Particulars of employees

The average number of persons employed by the company during the year amounted to 30 (2024: 35 ).

5. Taxation on ordinary activities

Major components of tax expense

	2025	2024
		(restated)
	£	£

Current tax:

UK current tax expense	116,619	848,000
Adjustments in respect of prior periods	–	390,000
	---------	------------
Total current tax	116,619	1,238,000
	---------	------------

Deferred tax:

Origination and reversal of timing differences	( 45,095)	( 694)
	--------	------------
Taxation on ordinary activities	71,524	1,237,306
	--------	------------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
		(restated)
	£	£
Profit on ordinary activities before taxation	200,126	413,423
	---------	---------
Profit on ordinary activities by rate of tax	50,031	( 97,395)
Adjustment to tax charge in respect of prior periods	–	390,000
Effect of expenses not deductible for tax purposes	33,616	30,883
Effect of capital allowances and depreciation	32,972	13,588
Unused tax losses	–	52,924
Effect on deferred tax	( 45,095)	( 694)
Taxation with regard to prior periods	–	848,000
	---------	------------
Tax on profit	71,524	1,237,306
	---------	------------

Factors that may affect future tax expense

The company are concluding with HM Revenue and Customs tax treatment with regard to expenses and revenue (MSK Waste only) with regard to prior periods. The Directors expect matters to conclude in 2026 and have included in the Financial Statements the expected final position of the taxation due.

6. Tangible assets

	Improvements to leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 April 2024 (as restated)	57,456	3,108,951	3,199	2,740,343	5,909,949
Additions	83,315	107,189	–	–	190,504
Disposals	–	( 4,350)	–	( 273,090)	( 277,440)
	---------	------------	-------	------------	------------
At 31 March 2025	140,771	3,211,790	3,199	2,467,253	5,823,013
	---------	------------	-------	------------	------------
Depreciation
At 1 April 2024	7,028	2,088,788	2,369	1,660,466	3,758,651
Charge for the year	1,935	162,298	517	204,277	369,027
Disposals	–	( 3,850)	–	( 228,090)	( 231,940)
	---------	------------	-------	------------	------------
At 31 March 2025	8,963	2,247,236	2,886	1,636,653	3,895,738
	---------	------------	-------	------------	------------
Carrying amount
At 31 March 2025	131,808	964,554	313	830,600	1,927,275
	---------	------------	-------	------------	------------
At 31 March 2024	50,428	1,020,163	830	1,079,877	2,151,298
	---------	------------	-------	------------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery
	£
At 31 March 2025	205,812
	---------
At 31 March 2024	251,637
	---------

7. Debtors

	2025	2024
		(restated)
	£	£
Trade debtors	772,348	386,094
Amounts owed by group undertakings	1,274,517	1,264,531
Prepayments and accrued income	203,349	329,240
Directors loan account	668,895	668,895
Other debtors	216,015	214,790
	------------	------------
	3,135,124	2,863,550
	------------	------------

8. Creditors: amounts falling due within one year

	2025	2024
		(restated)
	£	£
Bank loans and overdrafts	–	232,150
Trade creditors	620,582	486,684
Amounts owed to group undertakings	1,456,275	1,242,696
Accruals and deferred income	57,229	6,000
Corporation tax	116,619	–
Social security and other taxes	98,528	63,817
Obligations under finance leases and hire purchase contracts	34,057	66,493
Other creditors	86,200	87,490
	------------	------------
	2,469,490	2,185,330
	------------	------------

The bank overdraft is secured by the fact that the company has entered into a composite accounting agreement with KPT Solutions Limited, Lesterose Scotland Limited, Lesterose Builders Limited, Lesterose Holdings Limited, MSK Holdings Limited, MSK Waste Management and Recycling Limited, MSK Rail Limited, MSK Southern Limited and Multi Services Holdings Limited. Each participating company has provided a guarantee to the bank.

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

	2025	2024
		(restated)
	£	£
Obligations under finance leases and hire purchase contracts	75,056	109,118
	--------	---------

10. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2025	2024
		(restated)
	£	£
Not later than 1 year	34,057	66,493
Later than 1 year and not later than 5 years	75,056	109,118
	---------	---------
	109,113	175,611
	---------	---------

11. Prior period adjustments

The company are concluding with HM Revenue and Customs tax treatment with regard to expenses and revenue with regard to prior periods. The Directors expect matters to conclude in 2026 and have included in the Financial Statements the expected final position of the taxation due. The financial statements for the prior year have been restated as a result of this. The recognition of these events has resulted in the re-statement on the Balance Sheet and also the Profit and Loss account.

12. Summary audit opinion

The auditor's report dated 23 December 2025 was unqualified , however, the auditor drew attention to the following by way of emphasis.

In forming our opinion we have considered the adequacy of the disclosures made in note 11 of the Financial Statements concerning the company's corporation tax position for earlier years. In view of the significance of this matter we consider it should be drawn to your attention but our audit report is not qualified in this respect.

The senior statutory auditor was Mark Middleton FCA , for and on behalf of Affinia (Orpington) .

13. Directors' advances, credit and guarantees

At the year end date the total balances outstanding were £47,226. The advances were made interest free and are repayable on demand.

14. Related party transactions

The company is related to KPT Solutions Limited by the virtue that both companies are under the common directorship of Mr A R Stone and Mr D J Guildford . At the year end, the company was owed £2,497.63 by KPT Solutions Limited. This balance is included in trade debtors. The company also owed KPT Solutions £4,170.92. This balance is included in trade creditors.(2024 - KPT owed £1,048.86 and were owed £2,559.29). During the year, purchases totalling £18,678 were made by the company from KPT Solutions in respect of material, tool and plant supply and hire and sales were made to the company of £12,282. All sales and purchases between MSK Waste Management and Recycling Limited and its related parties throughout the year were carried out on an arm's length basis at the standard market rate. The company is due £6,540 from Imperial Homes Tonbridge Limited. MSK Waste Management & Recycling Limited is related to Imperial Homes Tonbridge Limited by the virtue that both companies are under the common directorship of Mr A R Stone and Mr D J Guildford.

15. Parent company

The company's parent undertaking is MSK Holdings Limited.

16. Ultimate parent company

The company's ultimate parent undertaking is Multi Services Holdings Limited. It has included the company in its consolidated financial statements, copies of which are available from its registered office: Numeric House, 98 Station Road, Sidcup, Kent, DA15 7BY.