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Registration number: 14209971

Start Solar G.B. Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 July 2022 to 31 July 2023

 

Start Solar G.B. Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Start Solar G.B. Ltd

(Registration number: 14209971)
Balance Sheet as at 31 July 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

16,730

Current assets

 

Stocks

5

68,856

Debtors

6

175,995

Cash at bank and in hand

 

73,288

 

318,139

Creditors: Amounts falling due within one year

7

(491,079)

Net current liabilities

 

(172,940)

Net liabilities

 

(156,210)

Capital and reserves

 

Called up share capital

100

Retained earnings

(156,310)

Shareholders' deficit

 

(156,210)

For the financial period ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 October 2023 and signed on its behalf by:
 

.........................................
Mr Andrew McKee
Company secretary and director

 

Start Solar G.B. Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England, registered number 14209971.

The address of its registered office is:
Unit 6, Southern Ind Estate
Southern Street
Walkden
Worsley
Manchester
M28 3QN
England

The presentation currency is £ Sterling.
The level of rounding is to the nearest £.

These financial statements were authorised for issue by the Board on 18 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Start Solar G.B. Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 July 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

15-33% straight line

Motor Vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Start Solar G.B. Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 July 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 9.

 

Start Solar G.B. Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 July 2023

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

Additions

15,229

3,350

18,579

At 31 July 2023

15,229

3,350

18,579

Depreciation

Charge for the period

1,779

70

1,849

At 31 July 2023

1,779

70

1,849

Carrying amount

At 31 July 2023

13,450

3,280

16,730

5

Stocks

2023
£

Work in progress

68,856

6

Debtors

Current

2023
£

Trade debtors

69,927

Prepayments

46,667

Other debtors

59,401

 

175,995

 

Start Solar G.B. Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 July 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Trade creditors

 

182,503

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

202,904

Taxation and social security

 

30,562

Accruals and deferred income

 

71,980

Other creditors

 

3,130

 

491,079

8

Related party transactions

Included in creditors is £152,904 which is due to Start Solar. Ltd and £50,000 due to Start Solar Ireland Limited, related parties due to common directors and shareholders.

Transactions with directors

2023

At 1 July 2022
£

Advances to director
£

At 31 July 2023
£

Mr Andrew McKee

-

(99)

(99)

       
     

Satpal Chahal

-

(3,836)

(3,836)

       
     

 

The above loans are unsecured and repayable on demand.