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REGISTERED NUMBER: 05237268 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Soilfix Ltd

Soilfix Ltd (Registered number: 05237268)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Soilfix Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: G A Evans
P M Hazlehurst
R Mabe
S G Jackson



REGISTERED OFFICE: 10 St. Martins Industrial Park
Avonmouth
Bristol
Avon
BS11 0RS



REGISTERED NUMBER: 05237268 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Barclays Bank Plc
18 Southgate Street
Gloucester
Gloucestershire
GL1 2DH

Soilfix Ltd (Registered number: 05237268)

Statement of Financial Position
31 December 2024

31/12/24 31/12/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 446,230 532,081

CURRENT ASSETS
Stocks 92,910 849,080
Debtors 5 3,191,987 2,160,898
Cash at bank 963,753 135,199
4,248,650 3,145,177
CREDITORS
Amounts falling due within one year 6 2,928,158 2,695,560
NET CURRENT ASSETS 1,320,492 449,617
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,766,722

981,698

CREDITORS
Amounts falling due after more than one
year

7

(819,642

)

(875,615

)

PROVISIONS FOR LIABILITIES (28,338 ) -
NET ASSETS 918,742 106,083

CAPITAL AND RESERVES
Called up share capital 286 286
Profit and loss account 918,456 105,797
SHAREHOLDERS' FUNDS 918,742 106,083

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

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

Soilfix Ltd (Registered number: 05237268)

Statement of Financial Position - continued
31 December 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 9 May 2025 and were signed on its behalf by:





G A Evans - Director


Soilfix Ltd (Registered number: 05237268)

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


1. STATUTORY INFORMATION

Soilfix Ltd 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.

Significant judgements and estimates
No significant judgements, apart from those involving estimations, have been made by the directors in preparing these financial statements. The directors estimate contract work in progress and costs to completion of projects ongoing at the accounting date. The estimations are based upon agreed project valuations with customers, historical experience and other factors that are considered to be relevant. Estimations are reviewed on an ongoing basis and have been revisited prior to the date of signing to reflect any necessary revisions that affect estimations at the accounting date.

Turnover
Turnover represents amounts chargeable, net of value added tax, in respect of the sales of goods and services to customers.

The company recognises revenue from the rendering of services in the period 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 group 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.

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.
Leasehold improvements - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

Soilfix Ltd (Registered number: 05237268)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.

All financial assets and liabilities are measured at transaction price (including transaction costs), except for those financial assets and liabilities classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement consists a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Loans from directors and the parent company have no formal repayment terms so have been recognised at the transaction price.

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 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Soilfix Ltd (Registered number: 05237268)

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


2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on a going concern basis. The directors have reviewed the future cash flows, forecasts and projections of the business and have expressed their intention to support the company for the foreseeable future, deeming the going concern basis of preparation to be appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 42 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
improvements machinery fittings
£    £    £   
Cost
At 1 January 2024 77,241 357,749 56,328
Additions - 40,840 2,250
Disposals - (51,190 ) -
At 31 December 2024 77,241 347,399 58,578
Depreciation
At 1 January 2024 51,320 218,994 34,914
Charge for year 6,480 49,955 5,775
Eliminated on disposal - (51,190 ) -
At 31 December 2024 57,800 217,759 40,689
Net book value
At 31 December 2024 19,441 129,640 17,889
At 31 December 2023 25,921 138,755 21,414

Soilfix Ltd (Registered number: 05237268)

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


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 January 2024 453,721 70,014 1,015,053
Additions 18,349 6,779 68,218
Disposals (11,750 ) - (62,940 )
At 31 December 2024 460,320 76,793 1,020,331
Depreciation
At 1 January 2024 136,866 40,878 482,972
Charge for year 82,107 9,752 154,069
Eliminated on disposal (11,750 ) - (62,940 )
At 31 December 2024 207,223 50,630 574,101
Net book value
At 31 December 2024 253,097 26,163 446,230
At 31 December 2023 316,855 29,136 532,081

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 January 2024 189,391
Additions 8,599
At 31 December 2024 197,990
Depreciation
At 1 January 2024 34,313
Charge for year 40,314
At 31 December 2024 74,627
Net book value
At 31 December 2024 123,363
At 31 December 2023 155,078

5. DEBTORS
31/12/24 31/12/23
£    £   
Amounts falling due within one year:
Trade debtors 2,310,335 1,492,964
Amounts owed by group undertakings 435 75
Other debtors 583,668 423,620
2,894,438 1,916,659

Soilfix Ltd (Registered number: 05237268)

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


5. DEBTORS - continued
31/12/24 31/12/23
£    £   
Amounts falling due after more than one year:
Trade debtors 297,549 244,239

Aggregate amounts 3,191,987 2,160,898

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Bank loans and overdrafts 41,667 -
Hire purchase contracts (see note 8) 55,974 59,847
Trade creditors 1,217,381 1,303,996
Amounts owed to group undertakings 462,383 463,283
Taxation and social security 48,229 64,464
Other creditors 1,102,524 803,970
2,928,158 2,695,560

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/24 31/12/23
£    £   
Hire purchase contracts (see note 8) 19,642 75,615
Other creditors 800,000 800,000
819,642 875,615

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31/12/24 31/12/23
£    £   
Net obligations repayable:
Within one year 55,974 59,847
Between one and five years 19,642 75,615
75,616 135,462

Non-cancellable operating leases
31/12/24 31/12/23
£    £   
Within one year 49,747 36,147
Between one and five years 103,268 20,224
153,015 56,371

Soilfix Ltd (Registered number: 05237268)

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


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31/12/24 31/12/23
£    £   
R Mabe
Balance outstanding at start of year 611 -
Amounts advanced - 1,149
Amounts repaid (611 ) (538 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 611

The above loan to the director was interest free and had no fixed repayment terms.

10. RELATED PARTY DISCLOSURES

Ground Risk Solutions Limited
Parent company

During the year, Ground Risk Solutions Limited invoiced the company £Nil (2023 - £150,000) in respect of management and consultancy fees.

At 31 December 2024, the company owed Ground Risk Solutions Limited £462,383 (2023 - £463,283). The intercompany loan balance is interest free and has no fixed repayment terms.

G A Evans
Director

The director G A Evans, has made a loan to the company. At 31 December 2024 the loan balance outstanding was £1,079,800 (2023 - £1,039,800). The loan is interest free with no fixed repayment terms. Although the loan is repayable on demand, £700,000 of this loan is not expected to be repaid within the next twelve months so is shown as due for repayment after one year.

S G Jackson
Director

The director S G Jackson, has made a loan to the company. At 31 December 2024 the loan balance outstanding was £158,252 (2023 - £159,000). The loan is interest free with no fixed repayment terms. Although the loan is repayable on demand, £100,000 of this loan is not expected to be repaid within the next twelve months so is shown as due for repayment after one year.

R Mabe
Director

During the year, the director R Mabe, made a loan to the company. At 31 December 2024 the loan balance outstanding was £109,177. The loan is interest free with no fixed repayment terms.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by Ground Risk Solutions Limited, a company controlled by the Employee Ownership Trust, Soilfix EOT Limited. Ground Risk Solutions Limited, which shares the same registered office as Soilfix Ltd, has taken the option under Section 399(2A) of the Companies Act 2006 not to prepare consolidated financial statements.