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REGISTERED NUMBER: 12425259 (England and Wales)















REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

SOIL SCIENCE LIMITED

SOIL SCIENCE LIMITED (REGISTERED NUMBER: 12425259)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 3

Income Statement 7

Balance Sheet 8

Notes to the Financial Statements 9


SOIL SCIENCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: W R Hinge
P A Jackson
J G Fisher
J C Gifford



REGISTERED OFFICE: 10 Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ



REGISTERED NUMBER: 12425259 (England and Wales)



SENIOR STATUTORY AUDITOR: Michael F Cox



AUDITORS: Cox Costello & Horne Partners LLP
Chartered Accountants and Statutory Auditors
Batchworth Lock House
99 Church Street
Rickmansworth
WD3 1JJ

SOIL SCIENCE LIMITED (REGISTERED NUMBER: 12425259)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 29 FEBRUARY 2024


The directors present their report with the financial statements of the company for the year ended 29 February 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of providing soil stabilisation services and undertaking other civil engineering projects.

DIRECTORS
P A Jackson has held office during the whole of the period from 1 March 2023 to the date of this report.

Other changes in directors holding office are as follows:

W R Hinge - appointed 3 August 2023
J G Fisher - appointed 5 December 2023
J C Gifford - appointed 5 December 2023

J D Moore ceased to be a director after 29 February 2024 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Cox Costello & Horne Partners LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P A Jackson - Director


28 November 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SOIL SCIENCE LIMITED


Opinion
We have audited the financial statements of Soil Science Limited (the 'company') for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 29 February 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SOIL SCIENCE LIMITED


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SOIL SCIENCE LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We designed procedures in line with our responsibilities outlined above, to detect material misstatements in respect of irregularities, including fraud.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our: general commercial and sector experience; through verbal and written communications with those charged with governance and other management; and via inspection of the company's regulatory and legal correspondence.

We discussed with those charged with governance and other management the policies and procedures regarding compliance with laws and regulations.

We communicated identified laws and regulations to our team and remained alert to any indicators of non-compliance throughout the audit, we also specifically considered where and how fraud may occur within the company.

The potential effect of these laws and regulations on the financial statements varies considerably.
Firstly, the company is subject to laws and regulations that directly affect the financial statements, including: the company's constitution, relevant financial reporting standards; company law and tax legislation and we assess the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on the amounts or disclosures in the financial statements, for instance through the imposition of fines and penalties, or through losses arising from litigations. We identified the following areas as those most likely to have such an effect: laws and regulations relevant to the construction sector employment legislation; health and safety legislation; data protection legislation; anti-bribery and corruption legislation.

International Auditing Standards (UK) limit the required procedures to identify non-compliance with these laws and regulations, and no procedures over and above those already noted are required. These limited procedures did not identify any actual or suspected non-compliance with laws and regulations that could have a material impact on the financial statements.

In relation to fraud, we performed the following specific procedures in addition to those already noted:

- Challenging assumptions made by management in its significant accounting estimates;
- Identifying and testing journal entries, during the year end and up to the date of signing the audit report, in particular any entries posted with unusual nominal ledger account combinations, journal entries crediting cash or any revenue account, and journal entries posted by senior management;
- Performing analytical procedures to identify unexpected movements in account balances which may be indicative of fraud; and
- Ensuring that testing undertaken on both the performance statement and the Balance Sheet includes a number of items selected on a random basis.

These procedures did not identify any actual or suspected fraudulent irregularity that could have a material impact on the financial statements.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with International Auditing Standards (UK). For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the procedures that we are required to undertake would identify it. In addition, as with any audit, there remains a high risk of non-detection of irregularities, as these might involve collusion, forgery, intentional omissions, misrepresentation, or the override of internal controls. We are not responsible for preventing non-compliance with laws and regulations or fraud, and cannot be expected to detect non-compliance with all laws and regulations or every incidence of fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SOIL SCIENCE LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Michael F Cox (Senior Statutory Auditor)
for and on behalf of Cox Costello & Horne Partners LLP
Chartered Accountants and Statutory Auditors
Batchworth Lock House
99 Church Street
Rickmansworth
WD3 1JJ

28 November 2024

SOIL SCIENCE LIMITED (REGISTERED NUMBER: 12425259)

INCOME STATEMENT
FOR THE YEAR ENDED 29 FEBRUARY 2024

29.2.24 28.2.23
Notes £ £ £ £

TURNOVER 6,837,739 6,581,059

Cost of sales 4,349,677 3,764,549
GROSS PROFIT 2,488,062 2,816,510

Distribution costs 151,977 111,311
Administrative expenses 2,816,398 2,708,342
2,968,375 2,819,653
OPERATING LOSS 5 (480,313 ) (3,143 )


Interest payable and similar expenses 77,422 34,985
LOSS BEFORE TAXATION (557,735 ) (38,128 )

Tax on loss 6 (52,559 ) (56,247 )
(LOSS)/PROFIT FOR THE FINANCIAL YEAR (505,176 ) 18,119

SOIL SCIENCE LIMITED (REGISTERED NUMBER: 12425259)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £ £ £ £
FIXED ASSETS
Intangible assets 7 286,701 183,572
Tangible assets 8 579,585 216,053
866,286 399,625

CURRENT ASSETS
Stocks 38,981 4,586
Debtors 9 1,383,457 1,881,167
Cash at bank 28,533 20,211
1,450,971 1,905,964
CREDITORS
Amounts falling due within one year 10 2,758,918 2,158,780
NET CURRENT LIABILITIES (1,307,947 ) (252,816 )
TOTAL ASSETS LESS CURRENT LIABILITIES (441,661 ) 146,809

CREDITORS
Amounts falling due after more than one year 11 393,552 476,846
NET LIABILITIES (835,213 ) (330,037 )

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 15 (845,213 ) (340,037 )
(835,213 ) (330,037 )

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





P A Jackson - Director


SOIL SCIENCE LIMITED (REGISTERED NUMBER: 12425259)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Soil Science Limited is a private limited company incorporated in England and Wales. The company's registered address is 10 Goldsmith Way, Eliot Business Park, Nuneaton, Warwickshire CV10 7RJ.

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.

Going Concern
The financial statements showed a loss before tax of £557,735 in the year and net liabilities of £835,213 at the balance sheet date.

In making their assessment of the going concern status of the company the directors have considered a period of not less than 12 months from the date of signing of these financial statements. The company meets its daily working capital requirements through its bank facilities and short-term private loans. The Company has received a letter of support from its new parent company, confirming their commitment to provide the necessary financial assistance to ensure the Company's ability to continue as a going concern for the foreseeable future. The long-term success of the business is dependent on it continuing to increase its turnover, effective cost management and careful cash flow management. The directors are confident that this can be achieved and thus the company continues to adopt the going concern basis in preparing its 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.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably:
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Other intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of four years.

SOIL SCIENCE LIMITED (REGISTERED NUMBER: 12425259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and Machinery - 20-100% on cost
Fixtures and Fittings - 50% on cost

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.


The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Impairment of fixed assets
Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment.

An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGU's). Non financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a weighted average basis. Production overheads are allocated to the cost of stock on the basis of the normal level of activity. Estimated selling price less costs to complete and sell is based on the estimated selling price of the goods less any estimated completion or selling costs likely to be incurred on the sale.

When stock are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to estimated selling price less costs to complete and sell and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stock is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

SOIL SCIENCE LIMITED (REGISTERED NUMBER: 12425259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
a) Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

b) Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

c) Cash at bank and in hand
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with significant risk of change in value.

d) Interest income
Interest income is recognised in profit or loss using the effective interest method.

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.

Research and Development Tax Relief
Research and development tax relief is recognised in the period in which the associated expenditure was incurred, unless the quantum of the relief can not be reliably estimated.

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.

Research and development
Research and development costs are expensed in the period.

SOIL SCIENCE LIMITED (REGISTERED NUMBER: 12425259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 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.

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases.

Payments under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Pension costs
Defined contribution pension plan

The company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Contributions outstanding at the balance sheet date amounted to £4,250 (2022: £3,678).

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

- Critical judgements
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities outlined below:

- Goodwill amortisation
Management reviews its estimate on goodwill amortisation at each reporting date, based on the expected useful life of the assets. Goodwilll is considered to have a finite useful life. If a reliable estimates of the useful life can not be made, the useful life shall not exceed ten years.

- Impairment
Management assesses the impairment of fixed assets subject to depreciation or amortisation whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors considered important that may trigger an impairment review include the following: changes in the manner of the use of the acquired assets or the strategy of the overall business, significant negative industry or economic trends, taking into account market knowledge, professional judgement and historical transactional comparable.Given the operating loss position of the company we have carried out a thorough review of the valuation of the fixed assets. Given the fact the assets are essential to the company's operation and have generated consistent revenue flows we have concluded an impairment is not necessary.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 21 ) .

SOIL SCIENCE LIMITED (REGISTERED NUMBER: 12425259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. OPERATING LOSS

The operating loss is stated after charging:

29.2.24 28.2.23
£ £
Depreciation - owned assets 97,800 28,257
Goodwill amortisation 20,278 20,279
Patents and licences amortisation 23,088 9,574

6. TAXATION

Analysis of the tax credit
The tax credit on the loss for the year was as follows:
29.2.24 28.2.23
£ £
Current tax:
UK corporation tax (52,559 ) (56,247 )
Tax on loss (52,559 ) (56,247 )

UK corporation tax was charged at 19%) in 2023.

Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

29.2.24 28.2.23
£ £
Loss before tax (557,735 ) (38,128 )
Loss multiplied by the standard rate of corporation tax in the UK of 25% (2023 -
19%)

(139,434

)

(7,244

)

Effects of:
Expenses not deductible for tax purposes 43,245 (21,898 )
Capital allowances in excess of depreciation (135,463 ) -
Utilisation of tax losses 52,559 -
Trading loss carry forward 179,093 29,142
relief adjustments
Research and development tax credit - (56,247 )
Losses surrendered under group relief (52,559 ) -
Total tax credit (52,559 ) (56,247 )

SOIL SCIENCE LIMITED (REGISTERED NUMBER: 12425259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. INTANGIBLE FIXED ASSETS
Patents and
Goodwill licences Totals
£ £ £
COST
At 1 March 2023 202,784 54,849 257,633
Additions - 146,495 146,495
At 29 February 2024 202,784 201,344 404,128
AMORTISATION
At 1 March 2023 60,835 13,226 74,061
Amortisation for year 20,278 23,088 43,366
At 29 February 2024 81,113 36,314 117,427
NET BOOK VALUE
At 29 February 2024 121,671 165,030 286,701
At 28 February 2023 141,949 41,623 183,572

8. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 March 2023 273,571
Additions 461,332
Disposals (25,772 )
At 29 February 2024 709,131
DEPRECIATION
At 1 March 2023 57,518
Charge for year 97,800
Eliminated on disposal (25,772 )
At 29 February 2024 129,546
NET BOOK VALUE
At 29 February 2024 579,585
At 28 February 2023 216,053

9. DEBTORS
29.2.24 28.2.23
£ £
Amounts falling due within one year:
Trade debtors 292,716 241,658
Other debtors 1,090,741 1,578,399
1,383,457 1,820,057

Amounts falling due after more than one year:
Other debtors - 61,110

Aggregate amounts 1,383,457 1,881,167

SOIL SCIENCE LIMITED (REGISTERED NUMBER: 12425259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


9. DEBTORS - continued

Included in other debtors, £287,552 (2023: £85,306) represents prepayment and £699,295 (2023: £1,279,906) for accrued income.

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£ £
Hire purchase contracts (see note 13) 88,946 91,831
Trade creditors 735,695 872,466
Taxation and social security 144,179 152,450
Other creditors 1,790,098 1,042,033
2,758,918 2,158,780

Within the other creditors, £1,257,480 (2023: £477,382) related to the loans received from the shareholders who are related parties. Part of the above loans have no formal loan agreements in place and are repayable on demand. However, the shareholders have indicated that they will not seek repayment until the company does not require these funds any more.

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£ £
Bank loans (see note 12) 24,111 34,022
Hire purchase contracts (see note 13) 369,441 192,824
Other creditors - 250,000
393,552 476,846

The bank loan balance of £24,111 (2023: £34,022) was related to the Bounce Back Loan received from the bank. The interest rate which applies to the loan is 2.5% (fixed) per annum with the repayment date on 9 June 2026.

12. LOANS

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
£ £
Amounts falling due between two and five years:
Bank loans - 2-5 years 24,111 34,022

13. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
29.2.24 28.2.23
£ £
Net obligations repayable:
Within one year 88,946 91,831
Between one and five years 369,441 192,824
458,387 284,655

Non-cancellable
operating leases
29.2.24 28.2.23
£ £
Within one year - 18,843

SOIL SCIENCE LIMITED (REGISTERED NUMBER: 12425259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


14. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£ £
Trade debtors factoring - 497,370

Included in the other creditors balance, £500,000 was the loan capital owed to third party on a secured basis. Loan interest £59,016 was calculated at 10% per annum as per loan agreement. The loan was fully repaid in April 2022 and replaced by the loans received from the directors.

Trade debtors factoring facility is secured by a registered charge by way of a fixed and floating charge over all present and future property.

The directors' loan facilities are also secured by a registered charge by way of a fixed and floating charge over all present and future property.

15. RESERVES

The only movement in retained earnings for the current year and preceding period, was the retained loss for the current year and retained profit for the prior period.

16. ULTIMATE PARENT UNDERTAKING

As of the end of the financial year, the immediate parent of Soil Science Limited is GRS Integrated Solutions Limited, incorporated in the United Kingdom, who holds 99% of the company's shares.
The ultimate parent undertaking of Soil Science Limited is GRS Roadstone Group Limited, incorporated in the United Kingdom. GRS Roadstone Group Limited has the ability to direct the financial and operating policies of Soil Science through their majority shareholding and voting rights of parent company GRS Integrated Solutions Limited thereby exerting significant influence and control over the company's strategic decisions.
The consolidated financial statements of GRS Roadstone Group limited are available upon request from:

Unit 10 Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ