Company registration number 03921753 (England and Wales)
TOTAL RECLAIMS DEMOLITION LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
TOTAL RECLAIMS DEMOLITION LIMITED
COMPANY INFORMATION
Directors
Mr G R Cross
Mr M P Cross
Mr M W Cross
Mr M I Cross
Secretary
Miss S A Wright
Company number
03921753
Registered office
Cabourn House
Station Street
Bingham
Nottinghamshire
United Kingdom
NG13 8AQ
Auditor
Xeinadin Audit Limited
Cabourn House
Station Street
Bingham
Nottinghamshire
NG13 8AQ
Business address
Melvyn Robert House
Bakerbrook Industrial Estate
Wigwam Lane
Hucknall
Nottinghamshire
United Kingdom
NG15 7SH
TOTAL RECLAIMS DEMOLITION LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Profit and loss account
7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 25
TOTAL RECLAIMS DEMOLITION LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 1 -

The directors present the strategic report for the year ended 30 April 2025.

Principal activities

The principal activity of the company continued to be that of demolition and materials reclamation.

Review of the business

Detailed below is a balanced and comprehensive review of the development and performance of Total Reclaims Demolition Limited (TRD), the business during 202 4/2 5 and its position at the year end. The review is consistent with the size and nature of the business and is written in the context of the risks and future challenges that TRD face. TRD's core business is in the demolition and construction industry. It is a leading UK demolition contractor. The company undertakes projects of a varied size and complexity from locations throughout the UK providing services across all demolition, reclamation, recycling and aggregate activities.

The company's key financial performance indicators are turnover growth, operating profit and capital investment.

For the year ended 30 April 2025 the company generated turnover of £13.29m compared with £14.5m in the previous year. The company reported an operating loss of £81,264 (2024 :operating profit of £939,273). The movement from profit to loss highlights the impact of reduced turnover combined with increased cost pressures across the business.

Despite these challenges the company continued to invest to strengthen its capabilities. Capital investment totalled £793,053 (2024 £1.35m) focused primarily to enhance infrastructure to support growth.

Principal risks and uncertainties

The principal risks and uncertainties facing the company are its reliance on the construction sector. Uncertainty revolves around predicting the future of this sector and the risk is managed by developing and investing in the business to match every expected requirement. The company uses information in the public domain alongside close communication with its customers to negate such risks.

The company also faces, as do all similar businesses, inflationary pressures on costs and wages. The directors continue to produce up to date management information and forecasts to be proactive in their response and as evidenced by the improvements in turnover and margin are confident in the mitigation of this risk.

Financial risk management, policies and objectives

The company finances its working capital requirements from a combination of retained profit and bank overdraft facilities. Larger capital purchases are usually part funded using hire purchase agreements.

Future Developments

The company will continue to obtain contracts for large demolition works within the U.K. The company will continue to recognise the importance of its ongoing investment in health and safety measures ensuring that the ever-changing requirements of the construction sector are met.

On behalf of the board

Mr M I Cross
Director
19 December 2025
TOTAL RECLAIMS DEMOLITION LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -

The directors present their annual report and financial statements for the year ended 30 April 2025.

Results and dividends

The results for the year are set out on page 7.

No dividends will be distributed for the year ended 30 April 2025.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr G R Cross
Mr M P Cross
Mr M W Cross
Mr M I Cross
Auditor

The Auditors, Xeinadin Audit Limited t/a Xeinadin Auditing, will be propsed for re-appointment at the forthcoming Annual General Meeting.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of future developments.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr M I Cross
Director
19 December 2025
TOTAL RECLAIMS DEMOLITION LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -

The directors are responsible for preparing the annual report 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; and

- 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.

TOTAL RECLAIMS DEMOLITION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF TOTAL RECLAIMS DEMOLITION LIMITED
- 4 -
Opinion

We have audited the financial statements of Total Reclaims Demolition Limited (the 'company') for the year ended 30 April 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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 30 April 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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

TOTAL RECLAIMS DEMOLITION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF TOTAL RECLAIMS DEMOLITION LIMITED (CONTINUED)
- 5 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which 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 directors' r esponsibilities s tatement, 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 is 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.

Auditor's 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 an auditor's report 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.

1) We obtained an understanding of legal and regulatory framework applicable to the Company in the sector in which they operate. Due to the nature of the sector the Company operates in, health and safety is a key area. The Company is also ISO accredited and has inspections by the BSI, whose reports were reviewed.

2) We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making inquiries to management. We corroborated our inquiries through review of the legal and professional expenditure incurred as well as available information on the Company's website.

3) We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team include:

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting processes;

- Challenging assumptions and judgements made by management in accounting estimates;

- Identifying and testing journal entries, in particular any that appear unusual;

- Review inspection reports by regulatory bodies and assess any impact, including renewal of necessary licences. In particular: certification under the Waste (England and Wales) Regulations 2011; HSE (Health & Safety Executive); BSI (British Standards Institution) for ISO accreditation.

- Reviewed ledger and non-ledger transactions in order to identify any additional related party transactions or balances.

- Reviewed a sample of sales around the year end and ensured correct cut-off had been applied.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

TOTAL RECLAIMS DEMOLITION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF TOTAL RECLAIMS DEMOLITION LIMITED (CONTINUED)
- 6 -

Use of our report

This report is made solely to the company's member 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 member those matters we are required to state to the member in an auditor's report 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 member, for our audit work, for this report, or for the opinions we have formed.

Janet Charlton BA FCA (Senior Statutory Auditor)
For and on behalf of Xeinadin Audit Limited, Statutory Auditor
Chartered Accountants
Cabourn House
Station Street
Bingham
Nottinghamshire
NG13 8AQ
19 December 2025
TOTAL RECLAIMS DEMOLITION LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
13,290,353
14,500,378
Cost of sales
(12,046,734)
(12,244,101)
Gross profit
1,243,619
2,256,277
Administrative expenses
(1,396,458)
(1,383,973)
Other operating income
71,575
66,969
Operating (loss)/profit
4
(81,264)
939,273
Interest payable and similar expenses
8
(144,559)
(139,441)
(Loss)/profit before taxation
(225,823)
799,832
Tax on (loss)/profit
9
38,729
(222,701)
(Loss)/profit for the financial year
(187,094)
577,131

The profit and loss account has been prepared on the basis that all operations are continuing operations.

TOTAL RECLAIMS DEMOLITION LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2025
- 8 -
2025
2024
£
£
(Loss)/profit for the year
(187,094)
577,131
Other comprehensive income
-
-
Total comprehensive income for the year
(187,094)
577,131
TOTAL RECLAIMS DEMOLITION LIMITED
BALANCE SHEET
AS AT 30 APRIL 2025
30 April 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
3,731,646
3,723,183
Investment property
11
387,692
387,692
4,119,338
4,110,875
Current assets
Debtors
12
4,063,261
3,791,068
Cash at bank and in hand
423,308
1,030,654
4,486,569
4,821,722
Creditors: amounts falling due within one year
13
(2,672,444)
(2,805,988)
Net current assets
1,814,125
2,015,734
Total assets less current liabilities
5,933,463
6,126,609
Creditors: amounts falling due after more than one year
14
(1,489,081)
(1,487,134)
Provisions for liabilities
Deferred tax liability
17
921,868
919,435
(921,868)
(919,435)
Government grants
18
(44,484)
(54,916)
Net assets
3,478,030
3,665,124
Capital and reserves
Called up share capital
19
1,000
1,000
Profit and loss reserves
20
3,477,030
3,664,124
Total equity
3,478,030
3,665,124

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 19 December 2025 and are signed on its behalf by:
Mr M I Cross
Director
Company registration number 03921753 (England and Wales)
TOTAL RECLAIMS DEMOLITION LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
- 10 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 May 2023
1,000
3,086,993
3,087,993
Year ended 30 April 2024:
Profit and total comprehensive income
-
577,131
577,131
Balance at 30 April 2024
1,000
3,664,124
3,665,124
Year ended 30 April 2025:
Loss and total comprehensive income
-
(187,094)
(187,094)
Balance at 30 April 2025
1,000
3,477,030
3,478,030
TOTAL RECLAIMS DEMOLITION LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
25
(171,770)
1,715,755
Interest paid
(144,559)
(139,441)
Income taxes paid
(79,049)
(16,550)
Net cash (outflow)/inflow from operating activities
(395,378)
1,559,764
Investing activities
Purchase of tangible fixed assets
(128,929)
(316,119)
Proceeds from disposal of tangible fixed assets
134,296
93,582
Repayment of loans
193,583
(325,536)
Net cash generated from/(used in) investing activities
198,950
(548,073)
Financing activities
Repayment of bank loans
(100,000)
(100,000)
Payment of finance leases obligations
(508,119)
(710,846)
Net cash used in financing activities
(608,119)
(810,846)
Net (decrease)/increase in cash and cash equivalents
(804,547)
200,845
Cash and cash equivalents at beginning of year
1,030,141
829,296
Cash and cash equivalents at end of year
225,594
1,030,141
Relating to:
Cash at bank and in hand
423,308
1,030,654
Bank overdrafts included in creditors payable within one year
(197,714)
(513)
TOTAL RECLAIMS DEMOLITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 12 -
1
Accounting policies
Company information

Total Reclaims Demolition Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cabourn House, Station Street, Bingham, Nottinghamshire, United Kingdom, NG13 8AQ. The principal place of business is Melvyn Robert House, Bakerbrook Industrial Estate, Wigwam Lane, Hucknall, Nottinghamshire, United Kingdom, NG15 7SH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

In determining the revenue and costs to be recognised each year for work done on demolition contracts, estimates are made in relation to final out-turn on each contract. On major demolition contracts, it is assessed, based on past experience, that their outcome can be estimated reliably during the early stages of the contract, but that costs incurred will be recoverable. Once the outcome can be estimated reliably the estimates of final out-turn on each contract may include cost contingencies to take account of the specific risks within each contract that have been identified during the early stages of the contract. The cost contingencies are reviewed on a regular basis throughout the contract life and are adjusted where appropriate. However, the nature of the risks on contracts are such that they often cannot be resolved until the end of the project and therefore may not reverse until the end of the project.

For retentions which are due within 12 months from practical completion, where contracts were complete at the year end, 75% of the retention is recognised in the accounts. Where contracts are incomplete at the year end 50% of the retention is recognised.

Other income

Other sources of income include the sale of reclaimed materials and scrap, which are recognised as revenue once the goods have been delivered to the customer,

Hire of machinery is recognised on a straight line basis over the life of the hire period,

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

TOTAL RECLAIMS DEMOLITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 13 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% on reducing balance and 15% on reducing balance
Fixtures and fittings
33% on cost and 15% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
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 current liabilities.

TOTAL RECLAIMS DEMOLITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 14 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of 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 deducting all of its liabilities.

TOTAL RECLAIMS DEMOLITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 15 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

TOTAL RECLAIMS DEMOLITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 16 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

As lessor

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

TOTAL RECLAIMS DEMOLITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 17 -
1.13
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Demolition services
12,319,673
12,461,897
Reclaimed materials & scrap
920,792
2,037,721
Hire of machinery
49,888
760
13,290,353
14,500,378
2025
2024
£
£
Other revenue
Grants received
10,432
10,432
Rental income arising from investment properties
30,693
24,517
Sundry receipts
19,180
20,323
4
Operating (loss)/profit
2025
2024
Operating (loss)/profit for the year is stated after charging/(crediting):
£
£
Government grants
(10,432)
(10,432)
Fees payable to the company's auditor for the audit of the company's financial statements
15,750
15,750
Depreciation of tangible fixed assets
689,288
684,199
(Profit)/loss on disposal of tangible fixed assets
(38,994)
12,152
Operating lease charges
63,000
66,550
TOTAL RECLAIMS DEMOLITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 18 -
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
15,750
15,750
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Production
89
90
Management/office
15
16
Total
104
106

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
3,574,050
3,552,295
Social security costs
366,843
355,881
Other pension costs
77,717
77,392
4,018,610
3,985,568
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
297,174
274,078

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2024 - 2).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
91,184
86,410
TOTAL RECLAIMS DEMOLITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 19 -
8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
8,246
10,069
Other finance costs:
Interest on finance leases and hire purchase contracts
122,512
115,771
144,559
139,441
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
-
0
79,049
Adjustments in respect of prior periods
(41,162)
203
Total current tax
(41,162)
79,252
Deferred tax
Origination and reversal of timing differences
2,433
143,449
Total tax (credit)/charge
(38,729)
222,701

The actual (credit)/charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
(Loss)/profit before taxation
(225,823)
799,832
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(56,456)
199,958
Tax effect of expenses that are not deductible in determining taxable profit
20,394
25,803
Tax effect of income not taxable in determining taxable profit
(2,608)
(3,294)
Adjustments in respect of prior years
(397)
(203)
Depreciation on assets not qualifying for tax allowances
338
437
Taxation (credit)/charge for the year
(38,729)
222,701
TOTAL RECLAIMS DEMOLITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 20 -
10
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2024
5,806,289
174,510
1,417,665
7,398,464
Additions
674,575
3,675
114,803
793,053
Disposals
(291,925)
-
0
(70,000)
(361,925)
At 30 April 2025
6,188,939
178,185
1,462,468
7,829,592
Depreciation and impairment
At 1 May 2024
2,778,399
166,997
729,885
3,675,281
Depreciation charged in the year
499,485
5,115
184,688
689,288
Eliminated in respect of disposals
(222,254)
-
0
(44,369)
(266,623)
At 30 April 2025
3,055,630
172,112
870,204
4,097,946
Carrying amount
At 30 April 2025
3,133,309
6,073
592,264
3,731,646
At 30 April 2024
3,027,890
7,513
687,780
3,723,183

Tangible fixed assets includes assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Plant and equipment
2,207,962
1,896,153
Motor vehicles
385,416
398,322
2,593,378
2,294,475

The depreciation of assets held under hire purchase contracts was £446,515 (2024 - £115,359).

11
Investment property
2025
£
Fair value
At 1 May 2024 and 30 April 2025
387,692

The investment property was acquired in 2019 and the fair value has been determined by the directors with reference to the national land value index. They do not believe that an adjustment is required at the balance sheet date as the amount already materially reflects fair value.

TOTAL RECLAIMS DEMOLITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 21 -
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,527,261
1,682,153
Applications for payments made
318,433
359,642
Amounts recoverable on contracts
721,800
641,507
Corporation tax recoverable
41,162
-
0
Other debtors
1,192,808
1,009,977
Prepayments and accrued income
261,797
97,789
4,063,261
3,791,068
13
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans and overdrafts
15
297,714
100,513
Obligations under finance leases
16
503,698
449,640
Trade creditors
1,636,262
1,523,158
Corporation tax
-
0
79,049
Other taxation and social security
92,274
188,697
Other creditors
61,270
70,367
Accruals and deferred income
81,226
394,564
2,672,444
2,805,988
14
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
15
25,000
125,000
Obligations under finance leases
16
1,464,081
1,362,134
1,489,081
1,487,134
15
Loans and overdrafts
2025
2024
£
£
Bank loans
125,000
225,000
Bank overdrafts
197,714
513
322,714
225,513
Payable within one year
297,714
100,513
Payable after one year
25,000
125,000
TOTAL RECLAIMS DEMOLITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
15
Loans and overdrafts
(Continued)
- 22 -

The obligations under hire purchase contracts and finance leases are secured on the assets to which they relate. The hire purchase obligations secured are £1,967,779 (2024 - £1,811,774).

A Mortgage debenture is held as security by National Westminster Bank Plc by way of a fixed and floating charge over current and future assets of the company. A further fixed charge is held with the same bank for a cash deposit.

The bank loan is a facility received under the Coronavirus Business Interruption Loan Scheme (CBILS). As such, the UK government has provided the bank with a partial guarantee. To the extent that the guarantee provided by the UK government is not sufficient, the company has provided security by way of a debenture.

A third party guarantee is in place with National Westminster Bank Plc. The security is for a related party company and is limited to £1,050,000 (2024 : £450,000)

16
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
503,698
449,640
In two to five years
1,464,081
1,362,134
1,967,779
1,811,774
17
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
921,868
919,435
2025
Movements in the year:
£
Liability at 1 May 2024
919,435
Charge to profit or loss
2,433
Liability at 30 April 2025
921,868

Deferred tax has been recognised at the prevailing rate of 25% and relates wholly to accelerated capital allowances.

TOTAL RECLAIMS DEMOLITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 23 -
18
Government grants
2025
2024
£
£
Arising from government grants
44,484
54,916
19
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1,000
1,000
1,000
1,000
20
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
3,664,124
3,086,993
Adjusted balance
3,664,124
3,086,993
(Loss)/profit for the year
(187,094)
577,131
At the end of the year
3,477,030
3,664,124
21
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
61,267
61,267
Years 2-5
2,931
64,198
64,198
125,465
22
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

TOTAL RECLAIMS DEMOLITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
22
Related party transactions
(Continued)
- 24 -
Sales
Sales
Purchases
Purchases
2025
2024
2025
2024
£
£
£
£
Entities over which the entity has control, joint control or significant influence
139,131
1,702
379,777
349,303
Amount due from related party
Amount due to related party
2025
2024
2025
2024
£
£
£
£
Entities over which the entity has control, joint control or significant influence
981,662
600,128
-
32,665
23
Directors' transactions

Dividends totalling £0 (2024 - £0) were paid in the year in respect of shares held by the company's directors.

These balances were interest free, unsecured and repayable on demand.

Advances
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mr M W Cross -
-
(70,367)
201,700
(192,602)
(61,269)
Mr M I Cross -
-
247,536
345,297
(460,880)
131,953
177,169
546,997
(653,482)
70,684
24
Ultimate controlling party

On 30th January 2025, the company became a wholly owned subsidiary of Total Reclaims Holdings Limited, which is now the company's ultimate parent undertaking. The ultimate controlling parties are M I Cross and M W Cross.

TOTAL RECLAIMS DEMOLITION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 25 -
25
Cash (absorbed by)/generated from operations
2025
2024
£
£
(Loss)/profit after taxation
(187,094)
577,131
Adjustments for:
Taxation (credited)/charged
(38,729)
222,701
Finance costs
144,559
139,441
(Gain)/loss on disposal of tangible fixed assets
(38,994)
12,152
Depreciation and impairment of tangible fixed assets
689,288
684,199
Decrease in deferred income
(10,432)
(10,432)
Movements in working capital:
Increase in debtors
(424,614)
(535,410)
(Decrease)/increase in creditors
(305,754)
625,973
Cash (absorbed by)/generated from operations
(171,770)
1,715,755
26
Analysis of changes in net debt
1 May 2024
Cash flows
New leases
30 April 2025
£
£
£
£
Cash at bank and in hand
1,030,654
(607,346)
-
423,308
Bank overdrafts
(513)
(197,201)
-
(197,714)
1,030,141
(804,547)
-
0
225,594
Borrowings excluding overdrafts
(225,000)
100,000
-
(125,000)
Lease liabilities
(1,811,774)
508,119
(664,124)
(1,967,779)
(1,006,633)
(196,428)
(664,124)
(1,867,185)
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