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Registered number: 11800191

Solway Renovations Limited

ACCOUNTS
FOR THE YEAR ENDED 31/01/2023

Prepared By:
NB Lancaster & Co
Chartered Accountants
6 Brunswick Street
Carlisle
Cumbria
CA1 1PN

Solway Renovations Limited

ACCOUNTS
FOR THE YEAR ENDED 31/01/2023
DIRECTORS
Mr C R Pattinson
Mrs A Pattinson
REGISTERED OFFICE
Port House
Port Carlisle
Wigton
Cumbria
CA7 5BU
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 11800191
BANKERS
Cumberland Building Society
ACCOUNTANTS
NB Lancaster & Co
Chartered Accountants
6 Brunswick Street
Carlisle
Cumbria
CA1 1PN

Solway Renovations Limited

ACCOUNTS
FOR THEYEARENDED31/01/2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Solway Renovations Limited

BALANCE SHEET AT 31/01/2023
20232022
Notes££
FIXED ASSETS
Tangible assets36,5668,215
CURRENT ASSETS
Stock220,000215,088
Debtors53,1012,148
Cash at bank and in hand68,0901,700
291,191218,936
CREDITORS: Amounts falling due within one year6268,795315,665
NET CURRENT ASSETS / (LIABILITIES)22,396(96,729)
TOTAL ASSETS LESS CURRENT LIABILITIES28,962(88,514)
CAPITAL AND RESERVES
Called up share capital822
Profit and loss account28,960(88,516)
SHAREHOLDERS' FUNDS28,962(88,514)
For the year ending 31/01/2023 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 18/09/2023 and signed on their behalf by
.............................
Mr C R Pattinson
Director

Solway Renovations Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/01/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 20%
Fixtures and Fittingsstraight line 33%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
2. EMPLOYEES
20232022
No.No.
Average number of employees1-

Solway Renovations Limited

3. TANGIBLE FIXED ASSETS
Plant andFixtures
Machineryand FittingsTotal
£££
Cost
At 01/02/202211,17526011,435
At 31/01/202311,17526011,435
Depreciation
At 01/02/20222,9692513,220
For the year1,64181,649
At 31/01/20234,6102594,869
Net Book Amounts
At 31/01/20236,56516,566
At 31/01/20228,20698,215
4. STOCK 20232022
££
Stock comprises:
Work in progress220,000215,088
220,000215,088
5. DEBTORS 20232022
££
Amounts falling due within one year
VAT3,1011,942
Other tax and social security creditors-206
3,1012,148
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax6,895-
Other tax and social security creditors3,502-
Directors current account - Mr C R Pattinson206,524251,325
Trade creditors11,7869,452
Other creditors33,88853,888
Accruals6,2001,000
268,795315,665

Solway Renovations Limited

7. SECURED CREDITORS
20232022
££
Amount of other creditors which are secured33,88853,888
Other creditors are secured by way of a legal charge over the company's assets.
8. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
2 Ordinary shares of £1 each22
22
9. RELATED PARTY TRANSACTIONS
At the balance sheet date the company owed £206,524 (2022 - £251,325). The loan is interest free, unsecured and repayable on demand.
Total remuneration of £7,580 was paid to the directors during the year (2022 - £Nil).
Dividends of £7,000 were paid to the directors during the year (2022 - £Nil).
10. ADDITIONAL INFORMATION
The company is a private company, limited by shares and registered in England & Wales.
The company's registered number is 11800191.
The company's registered office is Port House, Port Carlisle, Wigton, Cumbria, CA7 5BU.