Soiltechnics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02680759 (England and Wales)

SOILTECHNICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Dr M D Hooper

S P Cragg

D R Dunkley

S C Dean

Ms S Drage

REGISTERED OFFICE:

Cedar Barn

White Lodge

Walgrave

Northampton

Northamptonshire

NN6 9PY

REGISTERED NUMBER:

02680759 (England and Wales)

ACCOUNTANTS:

Fortus Midlands Limited

Unit 1

Brooklands Court

Kettering Venture Park

Kettering

Northamptonshire

NN15 6FD

FIXED ASSETS

Tangible assets

4

-

47,559

CURRENT ASSETS

Stocks

158,227

166,406

Debtors

5

1,340,903

1,152,520

Cash at bank and in hand

71,246

108,255

1,570,376

1,427,181

CREDITORS

Amounts falling due within one year

6

1,167,826

553,550

NET CURRENT ASSETS

402,550

873,631

TOTAL ASSETS LESS CURRENT LIABILITIES

402,550

921,190

PROVISIONS FOR LIABILITIES

-

9,036

NET ASSETS

402,550

912,154

CAPITAL AND RESERVES

Called up share capital

638

638

Share premium

5,432

5,432

Capital redemption reserve

26

26

Retained earnings

396,454

906,058

402,550

912,154

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2020 and were signed on its behalf by:

D R Dunkley - Director

1.	STATUTORY INFORMATION

Soiltechnics 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

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 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 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 44 (2018 - 45 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2018

101,655

Disposals

(101,655

)

At 31 October 2019

-

DEPRECIATION

At 1 November 2018

54,096

Charge for year

10,754

Eliminated on disposal

(64,850

)

At 31 October 2019

-

NET BOOK VALUE

At 31 October 2019

-

At 31 October 2018

47,559

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 November 2018

91,670

Disposals

(91,670

)

At 31 October 2019

-

DEPRECIATION

At 1 November 2018

45,853

Charge for year

10,500

Eliminated on disposal

(56,353

)

At 31 October 2019

-

NET BOOK VALUE

At 31 October 2019

-

At 31 October 2018

45,817

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

977,741

794,992

Other debtors

363,162

357,528

1,340,903

1,152,520

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

-

15,675

Trade creditors

244,384

200,725

Amounts owed to group undertakings

313,370

27,893

Taxation and social security

226,783

208,588

Other creditors

383,289

100,669

1,167,826

553,550

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Soiltechnics Holdings Limited.

The ultimate controlling party is Ichnolites Limited.