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REGISTERED NUMBER: 04264423 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Solutions2 (Uk) Ltd

Solutions2 (Uk) Ltd (Registered number: 04264423)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Solutions2 (Uk) Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: T J Nock
M C Erzen





REGISTERED OFFICE: Unit 31 Minworth Industrial Park
Forge Lane
Minworth
Sutton Coldfield
West Midlands
B76 1AH





REGISTERED NUMBER: 04264423 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
Chartered Certified Accountants
Leofric House
Binley Road
Coventry
CV3 1JN

Solutions2 (Uk) Ltd (Registered number: 04264423)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 155,899 168,344

CURRENT ASSETS
Stocks 485,031 248,483
Debtors 5 562,463 706,511
Cash at bank and in hand 1,923,896 1,843,436
2,971,390 2,798,430
CREDITORS
Amounts falling due within one year 6 2,502,552 2,585,762
NET CURRENT ASSETS 468,838 212,668
TOTAL ASSETS LESS CURRENT
LIABILITIES

624,737

381,012

CREDITORS
Amounts falling due after more than one
year

7

(15,302

)

(24,031

)

PROVISIONS FOR LIABILITIES (38,719 ) (31,747 )
NET ASSETS 570,716 325,234

CAPITAL AND RESERVES
Called up share capital 12 12
Capital Redemption Reserve 9 6 6
Retained earnings 570,698 325,216
570,716 325,234

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Solutions2 (Uk) Ltd (Registered number: 04264423)

Balance Sheet - continued
31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:




M C Erzen - Director



T J Nock - Director


Solutions2 (Uk) Ltd (Registered number: 04264423)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Solutions2 (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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 20% on reducing balance

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 Statement of Income and Retained Earnings, 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.

Solutions2 (Uk) Ltd (Registered number: 04264423)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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 - 23 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 September 2022 43,619 183,734 102,573
Additions - 9,646 3,316
At 31 August 2023 43,619 193,380 105,889
DEPRECIATION
At 1 September 2022 21,418 97,047 89,746
Charge for year 1,399 18,433 4,562
At 31 August 2023 22,817 115,480 94,308
NET BOOK VALUE
At 31 August 2023 20,802 77,900 11,581
At 31 August 2022 22,201 86,687 12,827

Solutions2 (Uk) Ltd (Registered number: 04264423)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2022 58,463 21,493 409,882
Additions - 13,919 26,881
At 31 August 2023 58,463 35,412 436,763
DEPRECIATION
At 1 September 2022 29,424 3,903 241,538
Charge for year 5,809 9,123 39,326
At 31 August 2023 35,233 13,026 280,864
NET BOOK VALUE
At 31 August 2023 23,230 22,386 155,899
At 31 August 2022 29,039 17,590 168,344

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 21,283 31,325 52,608
DEPRECIATION
At 1 September 2022 4,541 7,309 11,850
Charge for year 3,349 4,803 8,152
At 31 August 2023 7,890 12,112 20,002
NET BOOK VALUE
At 31 August 2023 13,393 19,213 32,606
At 31 August 2022 16,742 24,016 40,758

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 432,220 610,921
Other debtors 130,243 95,590
562,463 706,511

Solutions2 (Uk) Ltd (Registered number: 04264423)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 174,999 301,387
Hire purchase contracts 8,729 9,029
Trade creditors 516,259 362,103
Taxation and social security 262,776 263,328
Other creditors 1,539,789 1,649,915
2,502,552 2,585,762

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Hire purchase contracts 15,302 24,031

8. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 174,999 301,387
Hire purchase contracts 24,031 33,060
199,030 334,447

The Hire Purchase Creditor is secured upon the assets purchased under the agreement.

The funding circle bank loan is secured by Personal Guarantee whereby the directors will repay the loan if the company fails to make the agreed repayments.

9. RESERVES
Capital
Redemption
Reserve
£   
At 1 September 2022
and 31 August 2023 6

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other debtors is an amount of £1,354 (2022: £Nil) owed to the company by T Nock, a director of the company.
This amount is charged at a commercial rate of interest and is repaid in full following the balance sheet date.

Included within other creditors is an amount £928 (2022: £18,623) owed to M Erzen, a director of the company.
This amount is interest free and has no set terms of repayment.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr T Nock and Ms M Erzen by virtue of there joint shareholding in the company.