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REGISTERED NUMBER: 03459909 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

SOLUTIONS ENGINEERING LIMITED

SOLUTIONS ENGINEERING LIMITED (REGISTERED NUMBER: 03459909)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 6


SOLUTIONS ENGINEERING LIMITED (REGISTERED NUMBER: 03459909)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

31.12.21 31.12.20
Notes £    £   
FIXED ASSETS
Tangible assets 4 491,769 440,963

CURRENT ASSETS
Stocks 113,833 15,500
Debtors 5 970,736 1,210,888
Cash at bank and in hand 348,923 254,120
1,433,492 1,480,508
CREDITORS
Amounts falling due within one year 6 (247,743 ) (242,448 )
NET CURRENT ASSETS 1,185,749 1,238,060
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,677,518

1,679,023

PROVISIONS FOR LIABILITIES (56,955 ) (62,983 )
NET ASSETS 1,620,563 1,616,040

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 1,620,443 1,615,920
1,620,563 1,616,040

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

SOLUTIONS ENGINEERING LIMITED (REGISTERED NUMBER: 03459909)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2021


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2022 and were signed on its behalf by:




N Eldershaw - Director



C A Eldershaw - Director


SOLUTIONS ENGINEERING LIMITED (REGISTERED NUMBER: 03459909)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Solutions Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03459909

Registered office: C/o DPC Accountants
Stone House
55 Stone Road Business Park
Stoke on Trent
Staffordshire
ST4 6SR

The presentation currency of the financial statements is the Pound Sterling (£).


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
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Estimated useful lives and residual values of fixed assets

As described in the notes to the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over 3 years
Plant and machinery - 20% reducing balance
Fixtures and fittings - 20% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

SOLUTIONS ENGINEERING LIMITED (REGISTERED NUMBER: 03459909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
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.

SOLUTIONS ENGINEERING LIMITED (REGISTERED NUMBER: 03459909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2020 - 32 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2021 259,916 909,208 115,350 144,784 1,429,258
Additions 123,707 18,140 11,184 2,358 155,389
At 31 December 2021 383,623 927,348 126,534 147,142 1,584,647
DEPRECIATION
At 1 January 2021 200,524 639,057 79,747 68,967 988,295
Charge for year 20,875 55,935 7,970 19,803 104,583
At 31 December 2021 221,399 694,992 87,717 88,770 1,092,878
NET BOOK VALUE
At 31 December 2021 162,224 232,356 38,817 58,372 491,769
At 31 December 2020 59,392 270,151 35,603 75,817 440,963

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 792,305 969,853
Amounts owed by group undertakings 172,934 235,868
Other debtors 5,497 5,167
970,736 1,210,888

SOLUTIONS ENGINEERING LIMITED (REGISTERED NUMBER: 03459909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts 63,318 82,095
Trade creditors 103,183 84,301
Taxation and social security 44,252 29,187
Other creditors 36,990 46,865
247,743 242,448

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

All transactions undertaken with the directors are deemed to be conducted under normal market conditions and/or are not material.

8. RELATED PARTY DISCLOSURES

All transactions undertaken with connected companies are deemed to be conducted under normal market conditions and/or are not material.