Continental Soil Technology Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05792913 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

FOR

CONTINENTAL SOIL TECHNOLOGY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S B Cameron

REGISTERED OFFICE:

The Old Dairy

Chavenage Estate

Tetbury

Gloucestershire

GL8 8XU

REGISTERED NUMBER:

05792913 (England and Wales)

ACCOUNTANTS:

S D Knee

Chartered Accountants

10 Bath Road

Old Town

Swindon

Wiltshire

SN1 4BA

FIXED ASSETS

Tangible assets

4

846,372

813,811

CURRENT ASSETS

Stocks

328,832

167,611

Debtors

5

76,201

8,880

Prepayments and accrued income

3,649

20,509

Cash at bank

87,219

53,195

495,901

250,195

CREDITORS

Amounts falling due within one year

6

472,967

227,450

NET CURRENT ASSETS

22,934

22,745

TOTAL ASSETS LESS CURRENT LIABILITIES

869,306

836,556

CREDITORS

Amounts falling due after more than one year

7

(558,329

)

(546,160

)

PROVISIONS FOR LIABILITIES

(130,120

)

(118,150

)

NET ASSETS

180,857

172,246

CAPITAL AND RESERVES

Called up share capital

1,010

1,010

Retained earnings

10

179,847

171,236

SHAREHOLDERS' FUNDS

180,857

172,246

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 January 2022 and were signed by:

S B Cameron - Director

1.	STATUTORY INFORMATION

Continental Soil Technology 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 represents supply and hire of plant and machinery, excluding value added tax.

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

-

20% on cost, 20% on reducing balance, 10% on cost and Straight line over length of lease

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 2 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2020

1,250,106

Additions

134,359

At 30 April 2021

1,384,465

DEPRECIATION

At 1 May 2020

436,295

Charge for year

101,798

At 30 April 2021

538,093

NET BOOK VALUE

At 30 April 2021

846,372

At 30 April 2020

813,811

Included within tangible fixed assets are assets held under hire purchase agreements with a net book value of £631,124. Depreciation of £63,941 was provided on assets held under hire purchase agreements during the year ended 30 April 2021.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade debtors

76,201

8,880

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans and overdrafts

25,892

19,225

Hire purchase contracts (see note 8)

156,614

131,359

Trade creditors

207,113

60,118

Taxation and social security

25,361

11,659

Other creditors

57,987

5,089

472,967

227,450

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans

87,189

63,080

Hire purchase contracts (see note 8)

310,160

338,345

Other creditors

160,980

144,735

558,329

546,160

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

30.4.21

30.4.20

£

£

Net obligations repayable:

Within one year

156,614

131,359

Between one and five years

310,160

338,345

466,774

469,704

Non-cancellable operating

leases

30.4.21

30.4.20

£

£

Within one year

25,740

-

Between one and five years

40,755

25,740

66,495

25,740

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.21

30.4.20

£

£

Bank loans

113,081

82,305

Bank loans of £63,080 (2020: £82,305) have been secured by a debenture over the company's assets.

10.

RESERVES

Retained

earnings

£

At 1 May 2020

171,236

Profit for the year

48,111

Dividends

(39,500

)

At 30 April 2021

179,847