IRIS Accounts Production v24.1.4.33 01612073 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh016120732023-03-31016120732024-03-31016120732023-04-012024-03-31016120732022-03-31016120732022-04-012023-03-31016120732023-03-3101612073ns15:EnglandWales2023-04-012024-03-3101612073ns14:PoundSterling2023-04-012024-03-3101612073ns10:Director12023-04-012024-03-3101612073ns10:Director22023-04-012024-03-3101612073ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3101612073ns10:SmallEntities2023-04-012024-03-3101612073ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3101612073ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3101612073ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3101612073ns10:FullAccounts2023-04-012024-03-3101612073ns10:Director32023-04-012024-03-3101612073ns10:CompanySecretary12023-04-012024-03-3101612073ns10:CompanySecretary22023-04-012024-03-3101612073ns10:RegisteredOffice2023-04-012024-03-3101612073ns5:CurrentFinancialInstruments2024-03-3101612073ns5:CurrentFinancialInstruments2023-03-3101612073ns5:Non-currentFinancialInstruments2024-03-3101612073ns5:Non-currentFinancialInstruments2023-03-3101612073ns5:ShareCapital2024-03-3101612073ns5:ShareCapital2023-03-3101612073ns5:RevaluationReserve2024-03-3101612073ns5:RevaluationReserve2023-03-3101612073ns5:CapitalRedemptionReserve2024-03-3101612073ns5:CapitalRedemptionReserve2023-03-3101612073ns5:LandBuildings2023-04-012024-03-3101612073ns5:PlantMachinery2023-04-012024-03-3101612073ns5:LandBuildings2023-03-3101612073ns5:PlantMachinery2023-03-3101612073ns5:LandBuildings2024-03-3101612073ns5:PlantMachinery2024-03-3101612073ns5:LandBuildings2023-03-3101612073ns5:PlantMachinery2023-03-3101612073ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3101612073ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3101612073ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3101612073ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3101612073ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3101612073ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3101612073ns5:HirePurchaseContracts2024-03-3101612073ns5:HirePurchaseContracts2023-03-3101612073ns5:WithinOneYear2024-03-3101612073ns5:WithinOneYear2023-03-3101612073ns5:BetweenOneFiveYears2024-03-3101612073ns5:BetweenOneFiveYears2023-03-3101612073ns5:AllPeriods2024-03-3101612073ns5:AllPeriods2023-03-3101612073ns5:Secured2024-03-3101612073ns5:Secured2023-03-3101612073ns5:RevaluationReserve2023-03-31
REGISTERED NUMBER: 01612073 (England and Wales)


















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

SOILS LIMITED

SOILS LIMITED (REGISTERED NUMBER: 01612073)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SOILS LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: N J Lambert
R B Higginson
C C Morrison





SECRETARIES: N J Lambert
R B Higginson





REGISTERED OFFICE: Newton House
Cross Road
Tadworth
Surrey
KT20 5SR





REGISTERED NUMBER: 01612073 (England and Wales)





ACCOUNTANTS: CLS Accountants Limited
Chartered Certified Accountants
2 Rythe Close
Esher
Surrey
KT10 9DD

SOILS LIMITED (REGISTERED NUMBER: 01612073)

STATEMENT OF FINANCIAL POSITION
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 758,865 818,604

CURRENT ASSETS
Debtors 5 382,660 555,117
Cash at bank 55,313 75,177
437,973 630,294
CREDITORS
Amounts falling due within one year 6 667,150 947,055
NET CURRENT LIABILITIES (229,177 ) (316,761 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

529,688

501,843

CREDITORS
Amounts falling due after more than one
year

7

(264,631

)

(326,070

)

PROVISIONS FOR LIABILITIES (21,585 ) (32,563 )
NET ASSETS 243,472 143,210

CAPITAL AND RESERVES
Called up share capital 33,334 33,334
Revaluation reserve 10 287,890 287,890
Capital redemption reserve 16,666 16,666
Retained earnings (94,418 ) (194,680 )
SHAREHOLDERS' FUNDS 243,472 143,210

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

SOILS LIMITED (REGISTERED NUMBER: 01612073)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2024


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 by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:




R B Higginson - Director



N J Lambert - Director


SOILS LIMITED (REGISTERED NUMBER: 01612073)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Soils 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 net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - equal instalments over period of lease
Plant and machinery etc - 50% on cost, 25% on reducing balance, 20% on cost and 10% on cost

Land and buildings held and used in the Company's own activities are stated in the statement of financial position at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve in 'other reserves'.

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.

SOILS LIMITED (REGISTERED NUMBER: 01612073)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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 32 (2023 - 36 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 625,000 742,014 1,367,014
Additions - 1,418 1,418
Disposals - (89,148 ) (89,148 )
At 31 March 2024 625,000 654,284 1,279,284
DEPRECIATION
At 1 April 2023 - 548,410 548,410
Charge for year 631 60,526 61,157
Eliminated on disposal - (89,148 ) (89,148 )
At 31 March 2024 631 519,788 520,419
NET BOOK VALUE
At 31 March 2024 624,369 134,496 758,865
At 31 March 2023 625,000 193,604 818,604

Included in net book values of motor vehicles and plant and machinery are assets held under hire purchase contracts totalling £57,606 and £4,025 (2023 - £97,358 and £9,392) respectively.

The leasehold property was revalued at 31 March 2023 to its fair value of £625,000 by Primmer Old B.A.S, Chartered Surveyors who are independent of the Company and have experience of valuing similar properties. If the leasehold property was included in the balance sheet on an historical cost basis, then the carrying amount would be £337,110.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 275,333 439,492
Amounts recoverable on contract 103,273 115,542
Other debtors 4,054 83
382,660 555,117

SOILS LIMITED (REGISTERED NUMBER: 01612073)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 89,758 215,622
Hire purchase contracts (see note 8) 31,616 42,496
Trade creditors 298,816 343,602
Taxation and social security 126,647 147,379
Other creditors 120,313 197,956
667,150 947,055

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 256,326 287,474
Hire purchase contracts (see note 8) 8,305 38,596
264,631 326,070

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 53,796 89,699

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 31,616 42,496
Between one and five years 8,305 38,596
39,921 81,092

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 23,166 30,327
Between one and five years 14,235 37,401
37,401 67,728

Operating lease commitments exist on the properties rented in Tadworth and Winchester.

SOILS LIMITED (REGISTERED NUMBER: 01612073)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 304,956 333,166
Hire purchase contracts 39,921 81,092
344,877 414,258

The bank loans with National Westminster Bank Plc are secured by a charge over the long leasehold property held as an asset in the company.

The invoice discounting facility with RBS Invoice Finance Ltd is secured by way of a fixed and floating charge over the assets of the company.

The hire purchase liabilities are secured on the assets concerned.

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 287,890