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REGISTERED NUMBER: 03925802 (England and Wales)







Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Solarsense (UK) Ltd

Solarsense (UK) Ltd (Registered number: 03925802)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Solarsense (UK) Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: S A Barrett
R Mees
R J Sturge





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY





REGISTERED NUMBER: 03925802 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Solarsense (UK) Ltd (Registered number: 03925802)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 120,889 75,650

CURRENT ASSETS
Stocks 5 1,712,408 987,506
Debtors 6 1,339,052 1,221,003
Cash at bank and in hand 944,739 275,771
3,996,199 2,484,280
CREDITORS
Amounts falling due within one year 7 2,507,034 1,695,371
NET CURRENT ASSETS 1,489,165 788,909
TOTAL ASSETS LESS CURRENT LIABILITIES 1,610,054 864,559

CREDITORS
Amounts falling due after more than one year 8 (120,341 ) (185,848 )

PROVISIONS FOR LIABILITIES (95,150 ) (48,268 )
NET ASSETS 1,394,563 630,443

CAPITAL AND RESERVES
Called up share capital 11 200 200
Retained earnings 1,394,363 630,243
SHAREHOLDERS' FUNDS 1,394,563 630,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Solarsense (UK) Ltd (Registered number: 03925802)

Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 1 November 2023 and were signed on its behalf by:





S A Barrett - Director


Solarsense (UK) Ltd (Registered number: 03925802)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Solarsense (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

No depreciation is provided in respect of freehold property. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated.
The directors consider that to depreciate the freehold property would not give a true and fair view.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Solarsense (UK) Ltd (Registered number: 03925802)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 30 (2022 - 28 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 March 2022 - 66,680 18,774
Additions 45,335 8,702 1,135
At 28 February 2023 45,335 75,382 19,909
DEPRECIATION
At 1 March 2022 - 63,187 17,058
Charge for year 3,749 1,569 622
At 28 February 2023 3,749 64,756 17,680
NET BOOK VALUE
At 28 February 2023 41,586 10,626 2,229
At 28 February 2022 - 3,493 1,716

Solarsense (UK) Ltd (Registered number: 03925802)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2022 140,732 89,553 315,739
Additions - 15,748 70,920
At 28 February 2023 140,732 105,301 386,659
DEPRECIATION
At 1 March 2022 86,395 73,449 240,089
Charge for year 13,383 6,358 25,681
At 28 February 2023 99,778 79,807 265,770
NET BOOK VALUE
At 28 February 2023 40,954 25,494 120,889
At 28 February 2022 54,337 16,104 75,650

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2022
and 28 February 2023 106,450
DEPRECIATION
At 1 March 2022 40,135
Charge for year 10,121
At 28 February 2023 50,256
NET BOOK VALUE
At 28 February 2023 56,194
At 28 February 2022 66,315

5. STOCKS
28.2.23 28.2.22
£    £   
Stocks 929,681 434,695
Work-in-progress 782,727 552,811
1,712,408 987,506

Solarsense (UK) Ltd (Registered number: 03925802)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 972,714 1,173,372
Other debtors 150,674 3,969
VAT 139,729 220
Prepayments 75,935 43,442
1,339,052 1,221,003

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other loans 116,251 101,138
Hire purchase contracts (see note 9) 3,946 25,148
Payments on account 1,110,617 699,355
Trade creditors 896,185 550,822
Amounts owed to group undertakings 32,376 34,328
Tax 190,531 72,666
Social security and other taxes 28,013 21,351
Other creditors 39,959 2,627
Accrued expenses 89,156 187,936
2,507,034 1,695,371

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.23 28.2.22
£    £   
Other loans - 1-2 years 64,782 61,629
Other loans - 2-5 years 50,753 115,535
Hire purchase contracts (see note 9) 4,806 8,684
120,341 185,848

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
28.2.23 28.2.22
£    £   
Net obligations repayable:
Within one year 3,946 25,148
Between one and five years 4,806 8,684
8,752 33,832

Solarsense (UK) Ltd (Registered number: 03925802)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
28.2.23 28.2.22
£    £   
Within one year 8,770 -
Between one and five years 35,079 -
In more than five years 41,014 -
84,863 -

10. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Other loans 231,786 278,302
Hire purchase contracts 8,752 33,832
240,538 312,134

The bank loans are secured against freehold property.

A cross guarantee exists between this company and the parent, Solarsense (UK) Property Limited for all bank balances.

The hire purchase agreements are secured against the assets to which they relate.

The loans from Rowanmoor Trustees Limited carry a fixed and floating charge.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
200 Ordinary £1 200 200

12. PENSION COMMITMENTS

At the balance sheet date, the outstanding debtor was £1,229 (2022 - £2,659 liability).

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.