Company registration number 01446451 (England and Wales)
COMBINED SOIL STABILISATION LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
COMBINED SOIL STABILISATION LIMITED
COMPANY INFORMATION
Directors
Mr J C Whitehead
Mr G D Kilroy
Mr S L Stansfield
Mr S J Dunn
Miss V M Whitehead
Mr P Jones
Ms L Lindley
(Appointed 1 May 2024)
Company number
01446451
Registered office
Cranfield Road
Lostock Industrial Estate
Lostock
Bolton
Auditor
Barlow Andrews LLP
Carlyle House
78 Chorley New Road
Bolton
COMBINED SOIL STABILISATION LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Profit and loss account
7
Balance sheet
8
Statement of changes in equity
9
Notes to the financial statements
10 - 21
COMBINED SOIL STABILISATION LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -

The directors present the strategic report for the year ended 31 August 2024.

Review of the business
The key performance indicators for the company are as follows:
2024
2023
£
£
Turnover
8,334,750
10,847,637
Profit before taxation
897,486
881,958
Gross profit margin
31.53%
21.95%
Net current assets
6,832,541
6,365,273
Profit and loss reserves
10,180,667
9,369,683
Debtors days
2
4

 

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end.

The company remains in a positive position. Turnover was £8.3m (2023: £10.8m), a decrease of circa £2.5m. This decrease is purely a product of trade resuming at more consistent levels. Despite the drop in turnover, the company has made a profit before taxation of £897k, a slight improvement on the previous year with improved profit margins.

We feel that our performances for the forthcoming financial year should be satisfactory and feel confident in the marketplace for the remainder of 2025.

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover, gross margin and return on capital employed.

 

Principal risks and uncertainties

The main impactors on our business remain the same, being the uncertainties of the general global economic outlook on the industry.

 

Financial risk management objectives and policies

The company does not operate specific policies to manage its financial risk. The directors consider any such information immaterial to the assessment of the company's assets, liabilities, financial position or profit and loss of the company.

 

Other information and explanations

Environmental impact

We remain committed to our environmental targets including the transition to using biodegradable oils in the majority of our piling plant and maintaining our commitment to minimise waste both on site and in office environments.

We are aware of our environmental responsibilities and will continue to strive to control our processes to further reduce our 'carbon footprint' and reduce any damaging aspect of our activities.

 

On behalf of the board

Ms L Lindley
Director
12 May 2025
COMBINED SOIL STABILISATION LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -

The directors present their annual report and financial statements for the year ended 31 August 2024.

Principal activities

The principal activity of the company continued to be that of a ground stabilisation contractor engaged in both public and private sector works nationally within the UK.

Results and dividends

The results for the year are set out on page 7.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr J C Whitehead
Mr S J Harrison
(Resigned 30 September 2024)
Mr G D Kilroy
Mr S L Stansfield
Mr S J Dunn
Miss V M Whitehead
Mr P Jones
Ms L Lindley
(Appointed 1 May 2024)
Auditor

In accordance with the company's articles, a resolution proposing that Barlow Andrews LLP be reappointed as auditor of the company will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Ms L Lindley
Director
12 May 2025
COMBINED SOIL STABILISATION LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -

The directors are responsible for preparing the annual report 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:

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.

COMBINED SOIL STABILISATION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF COMBINED SOIL STABILISATION LIMITED
- 4 -
Opinion

We have audited the financial statements of Combined Soil Stabilisation Limited (the 'company') for the year ended 31 August 2024 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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:

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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

COMBINED SOIL STABILISATION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF COMBINED SOIL STABILISATION LIMITED (CONTINUED)
- 5 -
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 strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 is 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.

Auditor's 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 an auditor's report 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 assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

 

COMBINED SOIL STABILISATION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF COMBINED SOIL STABILISATION LIMITED (CONTINUED)
- 6 -

To address the risk of fraud through management bias and override of controls, we:

 

 

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

 

 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's report 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.

Paul Burton (Senior Statutory Auditor)
For and on behalf of Barlow Andrews LLP, Statutory Auditor
Carlyle House
78 Chorley New Road
Bolton
12 May 2025
COMBINED SOIL STABILISATION LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
2024
2023
Notes
£
£
Turnover
3
8,334,750
10,847,637
Cost of sales
(5,706,981)
(8,466,458)
Gross profit
2,627,769
2,381,179
Administrative expenses
(1,684,678)
(1,447,905)
Operating profit
4
943,091
933,274
Interest payable and similar expenses
8
(45,605)
(51,316)
Profit before taxation
897,486
881,958
Tax on profit
9
(86,502)
(64,778)
Profit for the financial year
810,984
817,180

The profit and loss account has been prepared on the basis that all operations are continuing operations.

 

There is no other comprehensive income for the year. The total comprehensive income is the profit for the financial year shown above.                    

COMBINED SOIL STABILISATION LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
4,516,113
4,583,636
Current assets
Stocks
11
15,537
8,404
Debtors
13
6,353,808
2,084,325
Cash at bank and in hand
2,561,881
6,690,080
8,931,226
8,782,809
Creditors: amounts falling due within one year
14
(2,098,685)
(2,417,536)
Net current assets
6,832,541
6,365,273
Total assets less current liabilities
11,348,654
10,948,909
Creditors: amounts falling due after more than one year
15
(99,375)
(507,919)
Provisions for liabilities
Deferred tax liability
17
(1,068,512)
(1,071,207)
(1,068,512)
(1,071,207)
Net assets
10,180,767
9,369,783
Capital and reserves
Called up share capital
19
60
60
Capital redemption reserve
40
40
Profit and loss reserves
10,180,667
9,369,683
Total equity
10,180,767
9,369,783

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 12 May 2025 and are signed on its behalf by:
Ms L  Lindley
Director
Company registration number 01446451 (England and Wales)
COMBINED SOIL STABILISATION LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024
- 9 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 September 2022
60
40
8,552,503
8,552,603
Year ended 31 August 2023:
Profit and total comprehensive income
-
-
817,180
817,180
Balance at 31 August 2023
60
40
9,369,683
9,369,783
Year ended 31 August 2024:
Profit and total comprehensive income
-
-
810,984
810,984
Balance at 31 August 2024
60
40
10,180,667
10,180,767
COMBINED SOIL STABILISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 10 -
1
Accounting policies
Company information

Combined Soil Stabilisation Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cranfield Road, Lostock Industrial Estate, Lostock, Bolton.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Whitehead Family Holdings Limited whose registered office is Cranfield Road, Lostock Industrial Estate, Bolton. These consolidated financial statements are available from Companies House, Crown Way, Cardiff.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

In respect of ongoing services, turnover represents the value of work done in the year, including estimates of amounts not yet invoiced. Turnover in respect on ongoing services is recognised by reference to the stage of completion.

 

Amounts recoverable on contracts are assessed on a contract to contract basis and reflected in the profit and loss account as contract activity progresses - see the accounting policy on construction contracts for further details.

 

Turnover for the hire of plant is recognised in the period for which the equipment is hired.

COMBINED SOIL STABILISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 11 -
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% reducing balance
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

Cost is calculated using the FIFO method.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

COMBINED SOIL STABILISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 12 -
1.7
Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

 

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

 

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

1.8
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, amounts due from group companies, amounts due from connected companies and cash and bank balances, are initially measured at transaction price.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

COMBINED SOIL STABILISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 13 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences. Such liabilities are not recognised if the timing difference arises from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled and is charged or credited within the profit and loss account.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

COMBINED SOIL STABILISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 14 -
1.14
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Amounts recoverable on contracts

Profit on long term contracts is recognised in the profit or loss account based on the amount of chargeable work carried out by the end of the financial period less amounts already invoiced to the customer. A level of judgement is applied in assessing the likely overall outcome of the project.

3
Turnover

An analysis of the company's turnover is as follows:

2024
2023
£
£
Turnover analysed by class of business
Construction contract revenue
7,909,679
10,328,974
Plant hire and other income
425,071
518,663
8,334,750
10,847,637
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
8,334,750
10,847,637
COMBINED SOIL STABILISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 15 -
4
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Depreciation of owned tangible fixed assets
407,088
312,339
Depreciation of tangible fixed assets held under finance leases
301,187
460,104
Loss on disposal of tangible fixed assets
5,248
10,573
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
17,500
13,750
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Operatives
28
8
Operatives
8
31
Total
36
39

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
2,430,786
2,496,681
Social security costs
209,307
237,919
Pension costs
156,703
178,471
2,796,796
2,913,071
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
448,050
362,377
Company pension contributions to defined contribution schemes
103,416
121,423
551,466
483,800
COMBINED SOIL STABILISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
7
Directors' remuneration
(Continued)
- 16 -

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2023 - 3).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
185,837
176,560
Company pension contributions to defined contribution schemes
9,093
8,633
8
Interest payable and similar expenses
2024
2023
£
£
Interest on finance leases and hire purchase contracts
45,605
51,316
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
152,090
101,198
Adjustments in respect of prior periods
(62,893)
-
0
Total current tax
89,197
101,198
Deferred tax
Origination and reversal of timing differences
(2,695)
(36,420)
Total tax charge
86,502
64,778
COMBINED SOIL STABILISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
9
Taxation
(Continued)
- 17 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
897,486
881,958
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 21.52%)
224,372
189,754
Tax effect of expenses that are not deductible in determining taxable profit
26,533
15,215
Adjustments in respect of prior years
(62,893)
-
0
Group relief
(101,510)
(123,386)
Permanent capital allowances in excess of depreciation
-
0
19,615
Reversal of timing differences to the profit and loss
-
0
(36,420)
Taxation charge for the year
86,502
64,778

On 1 April 2023, the main rate of corporation tax increased from 19% to 25%. Profits were therefore time apportioned in the comparative year, with the company incurring charges at both 19% and 25%. As a result a hybrid rate has been disclosed of 21.52% in the prior year.

10
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2023
6,981,693
9,388
252,243
7,243,324
Additions
650,000
-
0
-
0
650,000
Disposals
(47,578)
-
0
-
0
(47,578)
At 31 August 2024
7,584,115
9,388
252,243
7,845,746
Depreciation and impairment
At 1 September 2023
2,612,254
5,554
41,880
2,659,688
Depreciation charged in the year
655,184
575
52,516
708,275
Eliminated in respect of disposals
(38,330)
-
0
-
0
(38,330)
At 31 August 2024
3,229,108
6,129
94,396
3,329,633
Carrying amount
At 31 August 2024
4,355,007
3,259
157,847
4,516,113
At 31 August 2023
4,369,439
3,834
210,363
4,583,636
COMBINED SOIL STABILISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
10
Tangible fixed assets
(Continued)
- 18 -

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2024
2023
£
£
Plant and equipment
1,691,754
2,563,474
Motor vehicles
-
0
23,178
1,691,754
2,586,652
11
Stocks
2024
2023
£
£
Raw materials and consumables
15,537
8,404
12
Construction contracts
2024
2023
£
£
Contracts in progress at the reporting date
Gross amounts owed by contract customers included in debtors
1,918,141
1,694,408

At 31 August 2024, retentions held by customers for contract work amounted to £89,010 (2023 - £219,368).

13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
39,785
118,890
Gross amounts owed by contract customers
1,918,141
1,694,408
Amounts owed by group undertakings
1,000,028
100
Other debtors
3,395,854
270,927
6,353,808
2,084,325
COMBINED SOIL STABILISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 19 -
14
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Obligations under finance leases
16
408,544
843,985
Trade creditors
974,668
809,228
Corporation tax
152,062
101,198
Other taxation and social security
70,616
72,316
Accruals and deferred income
492,795
590,809
2,098,685
2,417,536
15
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
16
99,375
507,919
16
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
408,544
843,985
In two to five years
99,375
507,919
507,919
1,351,904

Finance lease payments represent rentals payable by the company for certain items of plant and machinery and motor vehicles. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term for plant and machinery is 4 years and the average motor vehicle term is 2 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

 

All finance leases are secured under the assets to which they relate.

17
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
1,068,512
1,071,207
COMBINED SOIL STABILISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
17
Deferred taxation
(Continued)
- 20 -
2024
Movements in the year:
£
Liability at 1 September 2023
1,071,207
Credit to profit or loss
(2,695)
Liability at 31 August 2024
1,068,512

The deferred tax liability set out above is expected to reverse in future years and relates to accelerated capital allowances that are expected to mature within the same period.

18
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
156,703
178,471

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

19
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
6,000
6,000
60
60

The company has one class of ordinary share which carry no right to fixed income but have full voting rights. The share capital is wholly owned by Whitehead Family Holdings Limited, the parent company.

COMBINED SOIL STABILISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 21 -
20
Financial commitments, guarantees and contingent liabilities

The company's bankers hold an intercompany guarantee between all group companies as well as other related parties being A E Yates Limited, Tritech Ground Engineering Ltd,Trenchless Holdings Limited, A E Yates Trenchless Solutions Limited, A E Yates Trenchless Plant Limited, Side Grip Piling Limited, SPI McGrattan Limited, Tritech Piling and Foundations Limited and A E Yates Directional Drilling Ltd.

21
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Sales
Purchases
2024
2023
2024
2023
£
£
£
£
Other related parties
2,259
23,424
1,168,887
1,820,559
2024
2023
Amounts due to related parties
£
£
Other related parties
139,303
295,452

All related party transactions are related by way of a common control with the company's directors.

Amounts due from related parties
£
£
Entities over which the entity has control, joint control or significant influence
3,000,000
-

Included within other debtors is a £3,000,000 loan advanced to an entity with common key personnel.

22
Ultimate controlling party

The company is a wholly-owned subsidiary of Whitehead Family Holdings Limited.

 

The company is included in the consolidated accounts of Whitehead Family Holdings Limited. The registered office of this entity is Cranfield Road, Lostock Industrial Estate, Bolton, Lancashire, United Kingdom.

 

The ultimate controlling party is Mr J C Whitehead.

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