REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 SEPTEMBER 2021 TO 31 DECEMBER 2021 |
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FOR |
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SHREDHOUSE LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 SEPTEMBER 2021 TO 31 DECEMBER 2021 |
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FOR |
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SHREDHOUSE LIMITED |
SHREDHOUSE LIMITED (REGISTERED NUMBER: 03952298) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 1 September 2021 to 31 December 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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SHREDHOUSE LIMITED |
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COMPANY INFORMATION |
for the period 1 September 2021 to 31 December 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditor |
One Eastwood |
Harry Weston Road |
Binley Business Park |
Coventry |
CV3 2UB |
SHREDHOUSE LIMITED (REGISTERED NUMBER: 03952298) |
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BALANCE SHEET |
31 December 2021 |
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2021 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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SHREDHOUSE LIMITED (REGISTERED NUMBER: 03952298) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the period 1 September 2021 to 31 December 2021 |
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1. | STATUTORY INFORMATION |
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Shredhouse Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. |
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The company was dormant throughout the period ended 31 December 2021. However, reference to information relating to the period ended 31 August 2021 has been made where appropriate. |
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Related party exemption |
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. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
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Tangible fixed assets |
Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. |
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Repairs and maintenance costs are charged to the statement of comprehensive income in the period in which they are incurred. |
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Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life. |
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Long leasehold property | 5% straight line |
Canopy | 10% straight line |
Plant & machinery | 15% reducing balance |
Fixtures fittings & equipment | 15% reducing balance |
Website | 15% reducing balance |
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Any gains and losses on the disposal of tangible fixed assets are recognised in the statement of comprehensive income in the year that the disposal takes place. |
SHREDHOUSE LIMITED (REGISTERED NUMBER: 03952298) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 September 2021 to 31 December 2021 |
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3. | ACCOUNTING POLICIES - continued |
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Government grants |
Government grants are recognised at the fair value of the asset received or receivable. Grants are not |
recognised until there is reasonable assurance that the company will comply with the conditions |
attaching to them and the grants will be received. |
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Government grants are recognised using the accrual model and the performance model. |
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Under the accrual model, government grants relating to revenue are recognised on a systematic basis |
over the periods in which the company recognises the related costs for which the grant is intended to |
compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are |
recognised in income in the period in which it becomes receivable. |
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Grants relating to assets are recognised in income on a systematic basis over the expected useful life |
of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income |
and not deducted from the carrying amount of the asset. |
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Under the performance model, where the grant does not impose specified future performance-related |
conditions on the recipient, it is recognised in income when the grant proceeds are received or |
receivable. Where the grant does impose specified future performance-related conditions on the |
recipient, it is recognised in income only when the performance-related conditions have been met. |
Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a |
liability. |
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Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs in bringing the product to its current location and condition. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
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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. |
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Pension costs and 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. |
SHREDHOUSE LIMITED (REGISTERED NUMBER: 03952298) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 September 2021 to 31 December 2021 |
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3. | ACCOUNTING POLICIES - continued |
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Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction value. Any losses arising from impairment are recognised in the statement of comprehensive income in administrative expenses. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL (2021 -
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5. | TANGIBLE FIXED ASSETS |
Improvements |
Long | to | Plant and |
leasehold | property | machinery |
£ | £ | £ |
COST |
At 1 September 2021 |
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Transfer on acquisition | (11,000 | ) | (36,017 | ) | (348,718 | ) |
At 31 December 2021 |
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DEPRECIATION |
At 1 September 2021 |
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Transfer on acquisition | (11,000 | ) | (15,309 | ) | (168,532 | ) |
At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 August 2021 |
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Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 September 2021 |
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Transfer on acquisition | (87,960 | ) | (6,290 | ) | (489,985 | ) |
At 31 December 2021 |
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DEPRECIATION |
At 1 September 2021 |
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Transfer on acquisition | (31,621 | ) | (3,888 | ) | (230,350 | ) |
At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 August 2021 |
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SHREDHOUSE LIMITED (REGISTERED NUMBER: 03952298) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 September 2021 to 31 December 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2021 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2021 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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Other creditors |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2021 | 2021 |
£ | £ |
Within one year |
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Between one and five years |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2021 |
value: | £ | £ |
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Ordinary | £1 | 300 | 300 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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SHREDHOUSE LIMITED (REGISTERED NUMBER: 03952298) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 September 2021 to 31 December 2021 |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the periods ended 31 December 2021 and 31 August 2021: |
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2021 | 2021 |
£ | £ |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
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The loan was unsecured and interest of £nil (31.08.2021 £366) has been charged in the period. The outstanding balance at the period ended 31st December 2021 is £nil (31.08.2021 £58,373) and was repayable on demand. |
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12. | ULTIMATE PARENT COMPANY |
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On 1st September 2021, the Company was acquired by Kite Packaging Limited and is now a wholly-owned subsidiary of Kite Packaging Limited and its ultimate parent company is Kite Packaging Group Holdings Limited (KPGH). |
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The registered office and principal place of business of KPGH is 186 Torrington Avenue, Tile Hill, Coventry, West Midlands, UK, CV4 9AJ. |