REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2022 |
for |
Solar Windows limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2022 |
for |
Solar Windows limited |
Solar Windows limited (Registered number: 02678809) |
Contents of the Financial Statements |
for the Year Ended 31 October 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Solar Windows limited |
Company Information |
for the Year Ended 31 October 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
106a Commercial Street |
Risca |
Gwent |
NP11 6EE |
Solar Windows limited (Registered number: 02678809) |
Balance Sheet |
31 October 2022 |
31.10.22 | 31.10.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Solar Windows limited (Registered number: 02678809) |
Balance Sheet - continued |
31 October 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Solar Windows limited (Registered number: 02678809) |
Notes to the Financial Statements |
for the Year Ended 31 October 2022 |
1. | STATUTORY INFORMATION |
Solar Windows limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The reporting currency is UK Sterling. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue is recognised when the goods are fitted, or in the case of supply only, when they are delivered. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Fixed assets are recorded at cost less depreciation and any impairment. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial assets and liabilities |
These are measured at transaction price, and subsequently held at cost less any impairment. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date. |
Solar Windows limited (Registered number: 02678809) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 November 2021 |
Additions |
At 31 October 2022 |
DEPRECIATION |
At 1 November 2021 |
Charge for year |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
Solar Windows limited (Registered number: 02678809) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.22 | 31.10.21 |
£ | £ |
Trade debtors |
Other debtors |
Included in Trade Debtors are amounts totalling £189,457 (2021: £226,834) which do not fall due for payment within one year. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.22 | 31.10.21 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.22 | 31.10.21 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 October 2022 and 31 October 2021: |
31.10.22 | 31.10.21 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Interest of between 2.0% and 2.5% has been charged on the loan. It is repayable upon demand. |
Solar Windows limited (Registered number: 02678809) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
9. | RELATED PARTY DISCLOSURES |
The company rents its premises from the companys pension scheme. |
The Directors have a majority shareholding in Interframe (South West) Limited, a company incorporated in the UK. |
During the year the company purchased windows from Interframe to the value of £158,275. |
( 2021 £92,453) , and £792 (2021 £0) was still owing to Interframe at the year end. |
Sales to Interframe were £4,655 (2021 £0). The windows were purchased and sold on arms length terms. |
During the year Dividends totalling £168,000 were paid to the directors. |
The Directors own TH Philip Sarah Ltd, a company incorporated in the UK. A Loan of £529,781 has been made to that company by Solar Windows Limited, enabling it to buy a factory. |
In 2020 Mr & Mrs Carl Lewis incorporated the Tenby Group of companies, [headed by Tenby Holdings Ltd], to acquire certain assets of Aperture trading Ltd (in administration). |
At 31/10/22 a total of £4,215,722 (2021:£3,880,680) has been lent to those companies, and is included in debtors. |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr C P Lewis. |