REGISTERED NUMBER: 07513369 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST AUGUST 2025

FOR

HEREFORD ASBESTOS SERVICES LTD

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Directors:

A J Jones

S J Willis

Registered office:

Units 2-3 Pearson Business Park

Coldnose Road

Hereford

United Kingdom

HR2 6JL

Registered number:

07513369 (England and Wales)

Fixed assets

Tangible assets

4

89,573

153,455

Current assets

Stock

5

5,206

6,359

Debtors

6

1,005,961

714,656

Cash at bank and in hand

11,337

97,087

1,022,504

818,102

Creditors

Amounts falling due within one year

7

392,048

197,363

Net current assets

630,456

620,739

Total assets less current liabilities

720,029

774,194

Creditors

Amounts falling due after more than one year

8

(16,690

)

(106,399

)

Provisions for liabilities

11

(11,100

)

(13,000

)

Net assets

692,239

654,795

Capital and reserves

Called up share capital

12

102

102

Retained earnings

692,137

654,693

Shareholders' funds

692,239

654,795

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 19th March 2026 and were signed on its behalf by:

A J Jones - Director

1.	Statutory information

Hereford Asbestos Services Ltd 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Tangible fixed assets

Tangible fixed assets are stated in the Balance Sheet at cost less depreciation.

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.

Motor vehicles 25% Reducing balance

Plant & machinery 20% Reducing balance

Stock & work in progress

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

Work in progress has been valued as a percentage of the full contract value according to the level of completion. At the year end the work in progress value is treated as turnover in the profit and loss account and included within debtors in the balance sheet.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. 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 and 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 receivables and cash and bank balances, 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.

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 the 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 date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after 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 assets 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 group transfers the financial asset and substantially all of the risks and rewards of the 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 group after deducing all of its liabilities. Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans, loans from fellow group companies and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently 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 subsequently 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.

Derecognition of financial liabilities

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase & 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.

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

Pension costs & 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 (including officers)

The average number of employees during the year was 13 (2024 - 15 ) .

4.	Tangible fixed assets

Plant &

Motor

machinery

vehicles

Totals

£

£

£

Cost

At 1st September 2024

167,963

231,617

399,580

Additions

1,959

-

1,959

Disposals

-

(94,577

)

(94,577

)

At 31st August 2025

169,922

137,040

306,962

Depreciation

At 1st September 2024

111,233

134,892

246,125

Charge for year

16,398

9,544

25,942

Eliminated on disposal

-

(54,678

)

(54,678

)

At 31st August 2025

127,631

89,758

217,389

Net book value

At 31st August 2025

42,291

47,282

89,573

At 31st August 2024

56,730

96,725

153,455

The net book value of tangible fixed assets includes £ 39,615 (2024 - £ 92,168 ) in respect of assets held under hire purchase contracts.

5.

Stock

31.8.25

31.8.24

£

£

Stock

5,206

6,359

6.

Debtors: amounts falling due within one year

31.8.25

31.8.24

£

£

Trade debtors including work in progress

510,043

249,237

Amounts owed by group undertakings

434,500

434,500

Other debtors

-

10,089

Social security & other taxes

8,258

-

Directors' loan accounts

32,907

-

Prepayments

20,253

20,830

1,005,961

714,656

7.

Creditors: amounts falling due within one year

31.8.25

31.8.24

£

£

Bank loans & overdraft (see note 9)

30,000

40,000

Trade creditors

271,831

84,622

Corporation tax

38,100

6,700

Social security & other taxes

13,859

14,299

Other creditors

7,253

1,854

Hire purchase

16,754

34,548

Directors' loan accounts

-

222

Accruals

14,251

15,118

392,048

197,363

8.

Creditors: amounts falling due after more than one year

31.8.25

31.8.24

£

£

Bank loans (see note 9)

-

30,000

Hire purchase contracts (see note 10)

16,690

76,399

16,690

106,399

9.

Loans

An analysis of the maturity of loans is given below:

31.8.25

31.8.24

£

£

Amounts falling due within one year or on demand:

Bank loans

30,000

40,000

Amounts falling due between two and five years:

Bank loans two to five years

-

30,000

10.	Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.8.25

31.8.24

£

£

Net obligations repayable:

Between one and five years

16,690

76,399

Non-cancellable

operating leases

31.8.25

31.8.24

£

£

Within one year

24,255

19,330

Between one and five years

25,676

26,345

49,931

45,675

11.	Provisions for liabilities

31.8.25

31.8.24

£

£

Deferred tax

11,100

13,000

Deferred tax

£

Balance at 1st September 2024

13,000

Utilised during year

(1,900

)

Balance at 31st August 2025

11,100

12.	Called up share capital

Allotted, called up and fully paid shares

31.8.25

31.8.24

No.

£

No.

£

Ordinary A shares of £1 each

51

51

51

51

Ordinary B shares of £1 each

49

49

49

49

Ordinary C shares of £1 each

1

1

1

1

Ordinary D shares of £1 each

1

1

1

1

102

102

102

102

13.	Contingent liabilities

There were no contingent liabilities at 31st August 2025.

14.	Directors' advances, credits and guarantees

During the year, the directors used a current account with the company to record amounts due to them and amounts drawn by them. Advances and other loans totalling £102,405 and repayments of £68,813 were made. The balance at the year end was £32,907 owed to the company (2024: £222 owed by the company).

The loans were made interest free and repayable on demand.

15.	Related party disclosures

Hereford Asbestos Services Holdings Limited

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.

16.	Controlling party

The company is controlled by Hereford Asbestos Services Holdings Limited, which is the ultimate holding company.

Company registration number

13238917

Company registered office address:

Network House

Thorn Office Centre

Straightmile Road

Rotherwas

Hereford

HR2 6JT