Solar Products Limited Filleted Accounts Cover
Solar Products Limited
Company No. 04575076
Information for Filing with The Registrar
For the Year Ended
31 March 2023
Solar Products Limited Balance Sheet Registrar
at
31 March 2023
Company No.
04575076
Notes
2023
2022
£
£
Fixed assets
Intangible assets
4
--
Investments
5
1,016,7721,016,772
1,016,7721,016,772
Current assets
Debtors
6
48,85250,972
Cash at bank and in hand
3,1433,827
51,99554,799
Creditors: Amount falling due within one year
7
(900,595)
(945,672)
Net current liabilities
(848,600)
(890,873)
Total assets less current liabilities
168,172125,899
Creditors: Amounts falling due after more than one year
8
(144,000)
(144,000)
Net assets/(liabilities)
24,172
(18,101)
Capital and reserves
Called up share capital
9
11
Profit and loss account
10
24,171
(18,102)
Total equity
24,172
(18,101)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
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.
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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 12 October 2023
And signed on its behalf by:
A.M.E. Scrimgeour
Director
12 October 2023
Solar Products Limited Notes to the Accounts Registrar
for the year ended 31 March 2023
1
General information
Its registered number is: 04575076
Its registered office is:
Office 8, No. 11 Riverside
Riverside Park
Farnham
Surrey
GU9 7UG
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
2
Accounting policies
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses. Patents and licenses are amortised over a period of 5 years.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
Investments
Investments in subsidiary and other unlisted companies are recognised at cost.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Interest Income
The Interest income in the year in recognised in the Profit & Loss Account using the effective interest
method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
22
4
Intangible fixed assets
Patents and trade-marks
Total
£
£
Cost
At 1 April 2022
259,532259,532
At 31 March 2023
259,532259,532
Amortisation and impairment
At 1 April 2022
259,532259,532
At 31 March 2023
259,532259,532
Net book values
At 31 March 2023
--
At 31 March 2022
--
5
Investments
Investment
in other
companies
Loan notes -
SFI
Total
£
£
£
Cost or valuation
At 1 April 2022
231,772
785,000
1,016,772
At 31 March 2023
231,772
785,000
1,016,772
Provisions/Impairment
Net book values
At 31 March 2023
231,772
785,000
1,016,772
At 31 March 2022
231,772
785,000
1,016,772
Details
2023
2022
£
£
Investment in other companies include -
Scrimgeour Family Investments Limited
220,000
220,000
Solaray Systems (PTY) Ltd
11,772
11,772
231,772
231,772
6
Debtors
2023
2022
£
£
Loan to Solaray Systems
17,85217,852
Loan note interest receivable
31,00032,200
Loan note interest overpaid
-920
48,85250,972
7
Creditors:
amounts falling due within one year
2023
2022
£
£
Taxes and social security
7,890
-
Loans from directors
891,757944,892
Accruals and deferred income
948780
900,595945,672
8
Creditors:
amounts falling due after more than one year
2023
2022
£
£
Loan notes
144,000144,000
144,000144,000
9
Share Capital
Share capital includes following:
2023
2022
£
£
1 ordinary shares of £1 each
1
1
1
1
10
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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