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Registration number: 07212336

The Independent Stabilisation Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

The Independent Stabilisation Company Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

 

The Independent Stabilisation Company Limited

Company Information

Directors

Ms Joanne Marie Marsden

Ms Julie Elliott

Registered office

8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

Accountants

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

 

The Independent Stabilisation Company Limited

Directors' Report for the Year Ended 30 April 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors of the company

The directors who held office during the year were as follows:

Ms Joanne Marie Marsden (appointed 5 September 2023)

Ms Julie Elliott

Principal activity

The principal activity of the company is that of soil stabilisation services.

Small companies provision statement

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

Approved by the Board on 16 January 2025 and signed on its behalf by:

.........................................
Ms Julie Elliott
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Independent Stabilisation Company Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Independent Stabilisation Company Limited for the year ended 30 April 2024 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of The Independent Stabilisation Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Independent Stabilisation Company Limited and state those matters that we have agreed to state to the Board of Directors of The Independent Stabilisation Company Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Independent Stabilisation Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The Independent Stabilisation Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of The Independent Stabilisation Company Limited. You consider that The Independent Stabilisation Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The Independent Stabilisation Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

16 January 2025

 

The Independent Stabilisation Company Limited

(Registration number: 07212336)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

384,030

385,445

Current assets

 

Stocks

17,454

-

Debtors

6

188,022

831,855

Cash at bank and in hand

 

362,326

256,151

 

567,802

1,088,006

Creditors: Amounts falling due within one year

7

(540,623)

(916,779)

Net current assets

 

27,179

171,227

Total assets less current liabilities

 

411,209

556,672

Creditors: Amounts falling due after more than one year

7

-

(104,316)

Provisions for liabilities

(96,007)

(96,361)

Net assets

 

315,202

355,995

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

315,201

355,994

Shareholders' funds

 

315,202

355,995

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 16 January 2025 and signed on its behalf by:
 

.........................................
Ms Julie Elliott
Director

 

The Independent Stabilisation Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

These financial statements were authorised for issue by the Board on 16 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

The Independent Stabilisation Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Computer equipment

3 years straight line

Fixtures & Fittings

3 years straight line

Motor Vehicle

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

The Independent Stabilisation Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

The Independent Stabilisation Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company during the year, was 5 (2023 - 5).

 

The Independent Stabilisation Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

67,403

81,192

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

122,954

-

470,000

592,954

Additions

211

65,777

-

65,988

At 30 April 2024

123,165

65,777

470,000

658,942

Depreciation

At 1 May 2023

119,531

-

87,978

207,509

Charge for the year

1,878

8,222

57,303

67,403

At 30 April 2024

121,409

8,222

145,281

274,912

Carrying amount

At 30 April 2024

1,756

57,555

324,719

384,030

At 30 April 2023

3,423

-

382,022

385,445

6

Debtors

2024
£

2023
£

Trade debtors

75,430

667,555

Prepayments

40,923

59,130

Other debtors

71,669

105,170

188,022

831,855

 

The Independent Stabilisation Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

HP and finance lease liabilities

8

104,316

122,224

Trade creditors

 

115,087

328,789

Amounts owed to parent undertakings

11

187,812

258,488

Taxation and social security

 

3,140

77,195

Other creditors

 

130,268

130,083

 

540,623

916,779

Due after one year

 

HP and finance lease liabilities

8

-

104,316

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

104,316

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

104,316

122,224

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       
 

The Independent Stabilisation Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

10

Financial commitments, guarantees and contingencies

Svenska Handelsbanken AB (PUBL) hold a fixed and floating charge over the assets of the company in respect of the overdraft facility provided to The Independent Stabilisation Company Ltd.

11

Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned entities within the group.