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Registered Number: 07963164
England and Wales

 

 

 

SOLUTIONS ACCOUNTANTS AND FINANCIAL SERVICES LTD


Abridged Accounts
 


Period of accounts

Start date: 24 February 2022

End date: 23 February 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 8,547    9,452 
8,547    9,452 
Current assets      
Debtors: amounts falling due within one year 17,671    9,480 
Cash at bank and in hand 7,613    11,445 
25,284    20,925 
Creditors: amount falling due within one year (23,019)   (16,465)
Net current assets 2,265    4,460 
 
Total assets less current liabilities 10,812    13,912 
Creditors: amount falling due after more than one year (9,666)   (12,567)
Net assets 1,146    1,345 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 1,145    1,344 
Shareholder's funds 1,146    1,345 
 


For the year ended 23 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 board of directors on 21 November 2023 and were signed on its behalf by:


-------------------------------
Qazi Naveed Arshad
Director
1
General Information
Solutions Accountants and Financial Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 07963164, registration address 149 Radford Road, Nottingham, NG7 5EH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities 
Going concern basis
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director.

Turnover
Turnover is calculated gross as the company is not VAT registered, The turnover represents the total  amount of services provided during the accounting period. 
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. 
Tangible fixed assets
Depreciation is charged on a reducing balance basis to write of cost of intangible and tangible fixed assets over their estimated useful lives at the following rates. 
Fixtures and Fittings 6% Reducing Balance
Computer Equipment 18% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
2.

Average number of employees

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

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 24 February 2022 7,500    4,520    12,020 
Additions    
Disposals    
At 23 February 2023 7,500    4,520    12,020 
Depreciation
At 24 February 2022 873    1,695    2,568 
Charge for year 397    508    905 
On disposals    
At 23 February 2023 1,270    2,203    3,473 
Net book values
Closing balance as at 23 February 2023 6,230    2,317    8,547 
Opening balance as at 24 February 2022 6,627    2,825    9,452 


2