Soilfix Ltd - Accounts to registrar (filleted) - small 18.2
Soilfix Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2018 |
| for |
| Soilfix Ltd |
| Soilfix Ltd (Registered number: 05237268) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2018 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Soilfix Ltd |
| Company Information |
| for the Year Ended 31 December 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| The White House |
| 162 Hucclecote Road |
| Hucclecote |
| Gloucester |
| Gloucestershire |
| GL3 3SH |
| BANKERS: |
| 18 Southgate Street |
| Gloucester |
| Gloucestershire |
| GL1 2DH |
| Soilfix Ltd (Registered number: 05237268) |
| Statement of Financial Position |
| 31 December 2018 |
| 31/12/18 | 31/12/17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| Soilfix Ltd (Registered number: 05237268) |
| Statement of Financial Position - continued |
| 31 December 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on behalf by: |
| Soilfix Ltd (Registered number: 05237268) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2018 |
| 1. | STATUTORY INFORMATION |
| Soilfix Ltd is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Leasehold improvements | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
| changes in fair value is recognised in profit or loss. |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling |
| costs in bringing stocks to their present location and condition. |
| Taxation |
| Taxation for the year 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. |
| 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. |
| Soilfix Ltd (Registered number: 05237268) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 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 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Leasehold | Plant and | and |
| improvements | machinery | fittings |
| £ | £ | £ |
| Cost |
| At 1 January 2018 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2018 |
| Depreciation |
| At 1 January 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2018 |
| Net book value |
| At 31 December 2018 |
| At 31 December 2017 |
| Soilfix Ltd (Registered number: 05237268) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| Cost |
| At 1 January 2018 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 December 2018 |
| Depreciation |
| At 1 January 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 December 2018 |
| Net book value |
| At 31 December 2018 |
| At 31 December 2017 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| Cost |
| At 1 January 2018 |
| Additions |
| Transfer to ownership | (72,000 | ) | - | (72,000 | ) |
| At 31 December 2018 |
| Depreciation |
| At 1 January 2018 |
| Charge for year |
| Transfer to ownership | (45,600 | ) | - | (45,600 | ) |
| At 31 December 2018 |
| Net book value |
| At 31 December 2018 |
| At 31 December 2017 |
| Soilfix Ltd (Registered number: 05237268) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertaking |
| £ |
| Cost |
| At 1 January 2018 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2018 |
| Net book value |
| At 31 December 2018 |
| At 31 December 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/18 | 31/12/17 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Amounts owed by participating interests | - | 1,400,704 |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/18 | 31/12/17 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/12/18 | 31/12/17 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Soilfix Ltd (Registered number: 05237268) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 31/12/18 | 31/12/17 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 31/12/18 | 31/12/17 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31/12/18 | 31/12/17 |
| value: | £ | £ |
| Ordinary | £1 | 200 |
| (31/12/17 - 200 ) |
| During the year, 86 £1 ordinary shares were allotted. Following this allotment, a share for share |
| exchange exchange took place whereby 40 shares in the subsidiary company Soilfix (East) Ltd were |
| exchanged for these 86 newly allotted shares. |
| Soilfix Ltd (Registered number: 05237268) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 11. | RELATED PARTY DISCLOSURES |
| G E Evans |
| Director |
| The director has loaned funds to the company. At 31 December 2018, the outstanding balance owed |
| to the the director was £94,025 (2017 - £99,275). The loan is interest free and has no fixed repayment |
| date. |
| Ground Risk Solutions Limited |
| Parent company |
| During the year, the remaining Soilfix Ltd shares were transferred to Ground Risk Solutions Limited, |
| making Soilfix Ltd a wholly owned subsidiary of Ground Risk Solutions Ltd. |
| During the year, Ground Risk Solutions Limited invoiced the company £495,000 in respect of |
| management and consultancy fees. A final dividend of £300,000 was declared on 31 December 2018 |
| and credited to the intercompany account. |
| At 31 December 2018, Ground Risk Solutions Limited owed the company £1,036,850 (2017 - |
| £1,400,704). The intercompany loan balance is interest free and has no fixed repayment terms. |
| Soilfix (East) Ltd |
| Subsidiary of Ground Risk Solutions Limited |
| During the year, the company transferred its shareholding in Soilfix (East) Ltd to its parent company |
| Ground Risk Solutions Limited. |
| During the year, the company sold goods and services to Soilfix (East) Ltd under normal market |
| conditions totalling £210,678 (2017 - £387,776). |
| During the year, the company purchased goods and services from Soilfix (East) Ltd under normal |
| market conditions totalling £678,645 (2017 - £9,631). |
| The intercompany loan balance due to Soilfix (East) Ltd at 31 December 2018 of £966,765 (2017 - |
| £285,943) is interest free and has no fixed repayment terms. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by Ground Risk Solutions Limited, a company controlled by the director G A |
| Evans. Ground Risk Solutions Limited which shares the same registered office as Soilfix Ltd, has |
| taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial |
| statements. |