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Registered Number: 03340583
England and Wales

 

 

 

SOLAR PRODUCTIONS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Accountants report
You consider that the company is exempt from an audit for the year ended 31 March 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. 



....................................................
SATCH CONSULTANTS LTD
Chancton House
The Wharf
MIDHURST
West Sussex
GU29 9PX
17 October 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 8,841,599    6,750,176 
Tangible fixed assets 4 11,252    3,052 
8,852,851    6,753,228 
Current assets      
Debtors 1,848,144    2,256,504 
Investments 779,000    779,000 
Cash at bank and in hand 30,799    104 
2,657,943    3,035,608 
Creditors: amount falling due within one year (11,920,021)   (9,291,407)
Net current liabilities (9,262,078)   (6,255,799)
 
Total assets less current liabilities (409,227)   497,429 
Creditors: amount falling due after more than one year (49,469)   (50,000)
Net liabilities (458,696)   447,429 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (458,796)   447,329 
Shareholder's funds (458,696)   447,429 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 17 October 2023 and were signed by:


-------------------------------
Mr M Murphy
Director
2
General Information
SOLAR PRODUCTIONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03340583, registration address 1-2 St Albans Studios , South End Row, LONDON, W8 5BT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets  over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Development expenditures
Research and development expenditure is charged to the income statement in the period in which it is incurred. However, where the directors are satisfied as to the technical, commercial and financial viability of individual projects, development expenditure is deferred and amortised over the economic life of the asset during which the company is expected to benefit.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 33.3% Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Intangible fixed assets

Cost Research and Development   Total
  £   £
At 01 April 2022 7,050,176    7,050,176 
Additions 3,329,141    3,329,141 
Disposals  
At 31 March 2023 10,379,317    10,379,317 
Amortisation
At 01 April 2022 300,000    300,000 
Charge for year 1,237,718    1,237,718 
On disposals  
At 31 March 2023 1,537,718    1,537,718 
Net book values
At 31 March 2023 8,841,599    8,841,599 
At 31 March 2022 6,750,176    6,750,176 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 April 2022 21,487    14,896    36,383 
Additions   13,725    13,725 
Disposals    
At 31 March 2023 21,487    28,621    50,108 
Depreciation
At 01 April 2022 18,701    14,630    33,331 
Charge for year 696    4,829    5,525 
On disposals    
At 31 March 2023 19,397    19,459    38,856 
Net book values
Closing balance as at 31 March 2023 2,090    9,162    11,252 
Opening balance as at 01 April 2022 2,786    266    3,052 


5.

Advances and Credits



Mark Murphy
Advances to director - interest charged at 2.00% (2022: 2.00%)

Current year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
WrittenOff
£
Waived
£
Carry Forward
£
Mark Murphy370,063 72,206 8,290 450,559 
370063722068290000450559
Previous year (2022)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
WrittenOff
£
Waived
£
Carry Forward
£
Mark Murphy237,970 126,447 5,646 370,063 
2379701264475646000370063
3