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REGISTERED NUMBER: 04610338 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Terra-Firma Environmental Limited

Terra-Firma Environmental Limited (Registered number: 04610338)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Terra-Firma Environmental Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J Procter
J G Robinson
A A Barnes
T D S Armer





SECRETARY: J Procter





REGISTERED OFFICE: Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB





BUSINESS ADDRESS: Mount Pleasant Farm
Haslingden Old Road
Oswaldtwistle
Accrington
Lancashire
BB5 3SN





REGISTERED NUMBER: 04610338 (England and Wales)





ACCOUNTANTS: Bennett Kirkhope Smith
Chartered Certified Accountants
Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB

Terra-Firma Environmental Limited (Registered number: 04610338)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 152,625 153,527

CURRENT ASSETS
Stock and work in progress 13,000 9,000
Debtors 5 293,718 140,269
Cash at bank 118,882 100,391
425,600 249,660
CREDITORS
Amounts falling due within one year 6 261,808 137,979
NET CURRENT ASSETS 163,792 111,681
TOTAL ASSETS LESS CURRENT
LIABILITIES

316,417

265,208

PROVISIONS FOR LIABILITIES 9 37,799 28,850
NET ASSETS 278,618 236,358

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 278,518 236,258
SHAREHOLDERS' FUNDS 278,618 236,358

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.

Terra-Firma Environmental Limited (Registered number: 04610338)

Balance Sheet - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by:




J Procter - Director J G Robinson - Director




A A Barnes - Director T D S Armer - Director


Terra-Firma Environmental Limited (Registered number: 04610338)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Terra-Firma Environmental 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 - 20% on reducing balance
Fixtures and fittings - 33% on cost
Motor vehicles - 20% on reducing balance

Stocks
Stock 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.

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.

Terra-Firma Environmental Limited (Registered number: 04610338)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

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 15 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 632,300 23,945 116,412 772,657
Additions 29,650 743 11,994 42,387
Disposals - - (43,164 ) (43,164 )
At 31 March 2024 661,950 24,688 85,242 771,880
DEPRECIATION
At 1 April 2023 499,753 22,887 96,490 619,130
Charge for year 30,558 1,124 4,064 35,746
Eliminated on disposal - - (35,621 ) (35,621 )
At 31 March 2024 530,311 24,011 64,933 619,255
NET BOOK VALUE
At 31 March 2024 131,639 677 20,309 152,625
At 31 March 2023 132,547 1,058 19,922 153,527

Terra-Firma Environmental Limited (Registered number: 04610338)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023 116,500
Transfer to ownership (116,500 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 82,779
Charge for year 3,372
Transfer to ownership (86,151 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 33,721

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 286,565 132,859
Prepayments 7,153 7,410
293,718 140,269

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts (see note 7) - 8,650
Trade creditors 126,215 26,829
Corporation tax 22,248 -
Social security and other taxes 10,258 7,931
VAT 52,279 45,763
Business credit card 1,161 7,307
Directors' current accounts 29,684 33,039
Accruals 19,963 8,460
261,808 137,979

7. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year - 8,650

Terra-Firma Environmental Limited (Registered number: 04610338)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts - 8,650

The hire purchase obligations are secured on the assets to which they relate.

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 37,799 28,850

Deferred
tax
£   
Balance at 1 April 2023 28,850
Charge to Income Statement during year 8,949
Balance at 31 March 2024 37,799

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D J Johnson.