Data Shred Lincs Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07652705 (England and Wales)

DATA SHRED LINCS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 1 APRIL 2022

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

Chartered Accountants' Report

6

DIRECTOR:

A G Riddel

REGISTERED OFFICE:

Unit 9 Abigate Industrial Park

Spratt Close

Horncastle

LN9 6SB

REGISTERED NUMBER:

07652705 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Holdings Limited

Oxley House

Lincoln Way

Louth

Lincolnshire

LN11 0LS

FIXED ASSETS

Tangible assets

4

19,913

26,560

CURRENT ASSETS

Debtors

5

260,619

205,039

Cash at bank and in hand

4,704

5,392

265,323

210,431

CREDITORS

Amounts falling due within one year

6

162,332

161,180

NET CURRENT ASSETS

102,991

49,251

TOTAL ASSETS LESS CURRENT LIABILITIES

122,904

75,811

CREDITORS

Amounts falling due after more than one year

7

(42,500

)

(40,488

)

PROVISIONS FOR LIABILITIES

(3,783

)

(5,046

)

NET ASSETS

76,621

30,277

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

76,620

30,276

76,621

30,277

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 1 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 1 April 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 and authorised for issue by the director and authorised for issue on 25 September 2023 and were signed by:

A G Riddel - Director

1.	STATUTORY INFORMATION

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

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Financial instruments

The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

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 the income statement.

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. Accounts 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 2 April 2021

and 1 April 2022

90,222

DEPRECIATION

At 2 April 2021

63,662

Charge for year

6,647

At 1 April 2022

70,309

NET BOOK VALUE

At 1 April 2022

19,913

At 1 April 2021

26,560

5.

DEBTORS

2022

2021

£

£

Amounts falling due within one year:

Trade debtors

12,820

20,290

Amounts falling due after more than one year:

Other debtors

247,799

184,749

Aggregate amounts

260,619

205,039

Included in other debtors after one year are balances of £219,379 (2021: £156,348) and £28,420 (2021: £28,400) for A Riddle Scrap Metal and Skip Hire Limited and Winter Circus Productions Limited respectively, companies which are under the common control of the director.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

6,000

9,512

Trade creditors

20,581

29,605

Taxation and social security

29,843

12,800

Other creditors

105,908

109,263

162,332

161,180

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

42,500

40,488

2022

2021

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

18,500

20,743

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Data Shred Lincs Limited for the year ended 1 April 2022 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Data Shred Lincs Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Data Shred Lincs Limited and state those matters that we have agreed to state to the director of Data Shred Lincs Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Data Shred Lincs Limited and its director for our work or for this report.

It is your duty to ensure that Data Shred Lincs Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Data Shred Lincs Limited. You consider that Data Shred Lincs Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Data Shred Lincs Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Duncan & Toplis Holdings Limited

Oxley House

Lincoln Way

Louth

Lincolnshire

LN11 0LS

Date: .............................................