ACCOUNTS - Final Accounts preparation

HIRE PURCHASE AND FINANCE LEASES

Minimum lease payments under hire purchase fall due as follows:

Registered number: 08774566

HOUSEMAN ENVIRONMENTAL LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

HOUSEMAN ENVIRONMENTAL LIMITED

REGISTERED NUMBER:08774566

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023 Unaudited
Note		£		£

Fixed assets
Intangible assets	5		8,500		13,000
Tangible assets	6		116,663		191,794
			125,163		204,794
Current assets
Debtors: amounts falling due within one year	7	707,183		622,004
Cash at bank and in hand	8	514,744		767,411
		1,221,927		1,389,415
Creditors: amounts falling due within one year	9	(611,323)		(598,818)
Net current assets			610,604		790,597
Total assets less current liabilities			735,767		995,391
Creditors: amounts falling due after more than one year			(13,434)		-

Net assets			722,333		995,391

Capital and reserves
Called up share capital	12	100	100
Profit and loss account		722,233	995,291
		722,333	995,391

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Gavin Michael Hartley

Director

Date: 23 December 2025

The notes on pages 3 to 12 form part of these financial statements.

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HOUSEMAN ENVIRONMENTAL LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2024 (Unaudited)	100	995,291	995,391

Profit for the year	-	507,328	507,328
Dividends: Equity capital	-	(780,386)	(780,386)
At 31 December 2024	100	722,233	722,333

The notes on pages 3 to 12 form part of these financial statements.

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2023

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023 (Unaudited)	100	707,157	707,257

Profit for the year	-	360,134	360,134
Dividends: Equity capital	-	(72,000)	(72,000)
At 31 December 2023 (Unaudited)	100	995,291	995,391

The notes on pages 3 to 12 form part of these financial statements.

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HOUSEMAN ENVIRONMENTAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	GENERAL INFORMATION

Houseman Environmental Limited is a private company limited by shares incorporated in England and Wales. The registered office is Alton House, Alton Road, Ross-on-Wye, Herefordshire, HR9 5BP.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The functional and presentation currency for the company during the year was GBP and the accounts are rounded to the nearest GBP.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

In light of the Group and Company forecasts prepared, the Board of Directors remain of the view that the forecasts are achievable and that the headroom within these forecasts and the continued support from Group should be sufficient to enable the Company to operate and meet its liabilities as they fall due for payment for at least the next twelve months after the signing of the accounts. The Directors therefore continue to adopt the going concern basis in preparing the financial statements.

2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

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HOUSEMAN ENVIRONMENTAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.5

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

2.6

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.8

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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HOUSEMAN ENVIRONMENTAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.9

INTANGIBLE ASSETS

GOODWILL

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.10

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the reducing balance and straight line method:.

Depreciation is provided on the following basis:

Plant and machinery	-	20%	reducing balance
Motor vehicles	-	25%	reducing balance
Fixtures and fittings	-	20%	reducing balance
Computer equipment	-	20%	reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.11

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.12

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.13

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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HOUSEMAN ENVIRONMENTAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.14

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted

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HOUSEMAN ENVIRONMENTAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.14

FINANCIAL INSTRUMENTS (CONTINUED)

where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2.15

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Judgements

Alternative Performance Measures (APMs)

The directors exercise judgement in determining adjustments to apply to FRS 102 measurements in order to derive suitable APMs which are used by management to provide additional information on the trends and performance of the group. The directors believe that EBITDA is a key APM. This measure is used for performance analysis by the Board, is not defined by FRS 102 and not intended to be a substitute from FRS 102 measurements. They may not be directly comparable with other companies APMs.

Estimates

Revenue

Key judgements are made on the percentage of completion with project style work and refurbishment which are in progress and are assessed by operational management in line with the group revenue recognition policy.

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HOUSEMAN ENVIRONMENTAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

EMPLOYEES

The average monthly number of employees, including directors, during the year was 19 (2023: 19).

5.	INTANGIBLE ASSETS

		Goodwill
		£
	COST
	At 1 January 2024 (Unaudited)	45,000
	At 31 December 2024	45,000
	AMORTISATION
	At 1 January 2024 (Unaudited)	32,000
	Charge for the year on owned assets	4,500
	At 31 December 2024	36,500
	NET BOOK VALUE
	At 31 December 2024	8,500
	At 31 December 2023 (Unaudited)	13,000

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HOUSEMAN ENVIRONMENTAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	TANGIBLE FIXED ASSETS

	Plant and machinery	Motor vehicles	Fixtures and fittings	Computer equipment	Total
	£	£	£	£	£
COST OR VALUATION
At 1 January 2024 (Unaudited)	1,207	322,857	8,611	735	333,410
Additions	-	48,490	-	-	48,490
Disposals	-	(139,490)	-	-	(139,490)
At 31 December 2024	1,207	231,857	8,611	735	242,410
DEPRECIATION
At 1 January 2024 (Unaudited)	895	134,991	5,627	103	141,616
Charge for the year on owned assets	162	29,550	413	126	30,251
Charge for the year on financed assets	-	4,284	-	-	4,284
Disposals	-	(50,404)	-	-	(50,404)
At 31 December 2024	1,057	118,421	6,040	229	125,747
NET BOOK VALUE
At 31 December 2024	150	113,436	2,571	506	116,663
At 31 December 2023 (Unaudited)	312	187,866	2,984	632	191,794

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2024	2023 Unaudited
	£	£


Motor vehicles	29,711	-
	29,711	-

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HOUSEMAN ENVIRONMENTAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

DEBTORS

					2024	2023 Unaudited
					£	£


Trade debtors	695,371	618,253
Other debtors	125	386
Prepayments and accrued income	1,072	3,365
Deferred taxation	10,615	-
	707,183	622,004

8.	CASH AND CASH EQUIVALENTS
		2024	2023 Unaudited
		£	£

	Cash at bank and in hand	514,744	767,411

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2024	2023 Unaudited
		£	£

Trade creditors	255,187	285,259
Corporation tax	169,309	103,871
Other taxation and social security	138,606	108,540
Obligations under finance lease and hire purchase contracts	5,374	-
Other creditors	697	701
Accruals and deferred income	42,150	100,447
	611,323	598,818

10.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		2024	2023 Unaudited
		£	£

	Net obligations under finance leases and hire purchase contracts	13,434	-

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HOUSEMAN ENVIRONMENTAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Within one year	5,374	-
Between 1-5 years	13,434	-
	18,808	-

Obligations under finance leases are secured by fixed charges over the assets which they relate to.

12.	SHARE CAPITAL
		2024	2023 Unaudited
		£	£

AUTHORISED, ALLOTTED, CALLED UP AND FULLY PAID

100 (2023: 100) Ordinary shares of £1.00 each	100	100

13.

RELATED PARTY TRANSACTIONS

The Company has taken advantage of the exemption under FRS 102 from disclosing transactions with other wholly owned group companies.

During the year, Houseman Environmental Limited sold fixed assets to a Director for proceeds of £65,333 (2023: £Nil) generating a profit on disposal of £5,258 (2023: Nil). No amounts were owing at the year end.
A Director also made purchases from Houseman Environmental Limited of £6,000 (2023: £Nil). No amounts were owing at the year end.

14.	POST BALANCE SHEET EVENTS

HSL Compliance Group Limited prepares financial statements into which the results of the Company are consolidated. On 28 March 2025, 100% of the ordinary share capital of HSL Compliance Group Limited was purchased by Mariner Bidco Limited, an investment holding company ultimately controlled by IK Investment Partners AIFM, a private limited liability company incorporated in Luxembourg which acts as manager of the IK Small Cap III Fund No.1 SCSp and IK Small Cap III Fund No.2 SCSp.
The controlling party note reflects the above change in ultimate controlling party.

On the 30 June 2025 the trade and assets of the company was transferred to HSL compliance, a related group company.

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HOUSEMAN ENVIRONMENTAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

15.	CONTROLLING PARTY

The immediate parent undertaking is HSL Compliance Holdings Limited.
The smallest and largest group to consolidate these financial statements is HSL Compliance Group Limited, a company registered in England and Wales at Alton House Alton Business Park, Alton Road, Ross-On-Wye, Herefordshire, United Kingdom, HR9 5BP.
The ultimate controlling party is IK Investment Partners AIFM, a private limited liability company incorporated in Luxembourg which acts as manager of the IK Small Cap III Fund No.1 SCSp and IK Small Cap III Fund No.2 SCSp.

16.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 23 December 2025 by David Butler BFP FCA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.

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