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Company Registration No. 08087435 (England and Wales)
Solvency II Wire Ltd Unaudited accounts for the year ended 31 March 2022
Solvency II Wire Ltd Unaudited accounts Contents
Page
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Solvency II Wire Ltd Company Information for the year ended 31 March 2022
Director
Mr Gidon Benari
Company Number
08087435 (England and Wales)
Registered Office
International House 24 Holborn Viaduct London EC1A 2BN United Kingdom
Accountants
Virtue Accounting Limited 53 Warwick Street Coventry CV5 6ET
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Solvency II Wire Ltd Statement of financial position as at 31 March 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,270 
1,927 
Current assets
Debtors
49,679 
17,940 
Cash at bank and in hand
54,620 
92,588 
104,299 
110,528 
Creditors: amounts falling due within one year
(101,132)
(92,958)
Net current assets
3,167 
17,570 
Total assets less current liabilities
4,437 
19,497 
Provisions for liabilities
Deferred tax
(241)
(366)
Net assets
4,196 
19,131 
Capital and reserves
Called up share capital
20 
20 
Profit and loss account
4,176 
19,111 
Shareholders' funds
4,196 
19,131 
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 August 2022 and were signed on its behalf by
Mr Gidon Benari Director Company Registration No. 08087435
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Solvency II Wire Ltd Notes to the Accounts for the year ended 31 March 2022
1
Statutory information
Solvency II Wire Ltd is a private company, limited by shares, registered in England and Wales, registration number 08087435. The registered office is International House, 24 Holborn Viaduct, London, EC1A 2BN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Solvency II Wire Ltd Notes to the Accounts for the year ended 31 March 2022
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2021
4,302 
Additions
460 
At 31 March 2022
4,762 
Depreciation
At 1 April 2021
2,375 
Charge for the year
1,117 
At 31 March 2022
3,492 
Net book value
At 31 March 2022
1,270 
At 31 March 2021
1,927 
5
Loans to directors
Movements on directors' loan accounts represents timing differences between amounts owed, and payments made to, directors in respect of expenses, remuneration and dividends. At the reporting date the amount owed by the company to Mr G Benari totalled £6,160, representing a £2,637 movement in the amount outstanding from the previous reporting date balance of £3,831. Interest has not been charged on these balances and no guarantees have been provided by either the company or the directors.
6
Transactions with related parties
During the year Solvency II Wire Ltd loaned £5,000 to Wisteria Theatre Cluster Ltd. The loan balance is reflected in the accounts as "debtors". The loan will be repaid in full on 21 July 2023.
7
Average number of employees
During the year the average number of employees was 2 (2021: 2).
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