Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-302022-07-01falseNo description of principal activity3225truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04211052 2022-07-01 2023-06-30 04211052 2021-07-01 2022-06-30 04211052 2023-06-30 04211052 2022-06-30 04211052 c:Director3 2022-07-01 2023-06-30 04211052 d:MotorVehicles 2022-07-01 2023-06-30 04211052 d:OfficeEquipment 2022-07-01 2023-06-30 04211052 d:OfficeEquipment 2023-06-30 04211052 d:OfficeEquipment 2022-06-30 04211052 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 04211052 d:CurrentFinancialInstruments 2023-06-30 04211052 d:CurrentFinancialInstruments 2022-06-30 04211052 d:Non-currentFinancialInstruments 2023-06-30 04211052 d:Non-currentFinancialInstruments 2022-06-30 04211052 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04211052 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 04211052 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 04211052 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 04211052 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 04211052 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-30 04211052 d:ShareCapital 2023-06-30 04211052 d:ShareCapital 2022-06-30 04211052 d:SharePremium 2023-06-30 04211052 d:SharePremium 2022-06-30 04211052 d:OtherMiscellaneousReserve 2023-06-30 04211052 d:OtherMiscellaneousReserve 2022-06-30 04211052 d:RetainedEarningsAccumulatedLosses 2023-06-30 04211052 d:RetainedEarningsAccumulatedLosses 2022-06-30 04211052 c:OrdinaryShareClass1 2022-07-01 2023-06-30 04211052 c:OrdinaryShareClass1 2023-06-30 04211052 c:OrdinaryShareClass1 2022-06-30 04211052 c:FRS102 2022-07-01 2023-06-30 04211052 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 04211052 c:FullAccounts 2022-07-01 2023-06-30 04211052 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 04211052 2 2022-07-01 2023-06-30 04211052 6 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 04211052




   


GB-SOL LIMITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED  30 JUNE 2023

 
GB-SOL LIMITED
REGISTERED NUMBER: 04211052

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
61,863
117,336

Investments
 5 
-
100

  
61,863
117,436

Current assets
  

Stocks
  
456,657
449,406

Debtors: amounts falling due within one year
 6 
572,882
436,931

Cash at bank and in hand
 7 
82,964
(5,276)

  
1,112,503
881,061

Creditors: amounts falling due within one year
 8 
(509,309)
(540,337)

Net current assets
  
 
 
603,194
 
 
340,724

Total assets less current liabilities
  
665,057
458,160

Creditors: amounts falling due after more than one year
 9 
-
(89,160)

  

Net assets
  
665,057
369,000


Capital and reserves
  

Called up share capital 
 11 
20,866
20,866

Share premium account
  
540,574
540,574

Other reserves
  
57,137
57,137

Profit and loss account
  
46,480
(249,577)

  
665,057
369,000


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question 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 financial statements.




 

Page 1

 
GB-SOL LIMITED
REGISTERED NUMBER: 04211052
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 January 2024.




M A M Candlish
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
GB-SOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

GB-Sol Limited is a private company limited by shares and incorporated in England. Its registered office is Renewable Energy Works, Treforest Industrial Estate, Cardiff, CF37 5YB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
GB-SOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor Vehicles
-
25%
straight line
Office Equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 4

 
GB-SOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

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.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 32 (2022 - 25).

Page 5

 
GB-SOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Tangible Fixed Assets





Office Equipment

£



Cost or valuation


At 1 July 2022
261,230


Additions
34,716


Disposals
(96,112)



At 30 June 2023

199,834



Depreciation


At 1 July 2022
143,894


Charge for the year on owned assets
46,799


Disposals
(52,722)



At 30 June 2023

137,971



Net book value



At 30 June 2023
61,863



At 30 June 2022
117,336


5.


Fixed asset investments





Investments in Subsidiary Companies

£





At 1 July 2022
100


Disposals
(100)



At 30 June 2023
-






Page 6

 
GB-SOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Debtors

2023
2022
£
£


Trade debtors
562,045
167,251

Amounts owed by group undertakings
-
7,000

Other debtors
992
4,071

Called up share capital not paid
-
30,360

Prepayments and accrued income
9,845
228,249

572,882
436,931



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
82,964
(5,276)

82,964
(5,276)



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
29,998

Trade creditors
56,191
167,198

Loan from parent company
182,692
213,053

Other taxation and social security
219,540
100,947

Other creditors
7,930
13,539

Accruals and deferred income
42,956
15,602

509,309
540,337


2023
2022
£
£

Other taxation and social security

PAYE/NI control
23,548
40,922

VAT control
195,992
60,025

219,540
100,947


Page 7

 
GB-SOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
89,160

-
89,160



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
-
29,998


-
29,998

Amounts falling due 1-2 years

Bank loans
-
89,160


-
89,160



-
119,158



11.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



20,866 (2022 - 20,866) Ordinary shares of £1.00 each
20,866
20,866



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £22,859 (2022: £20,629). 

Page 8

 
GB-SOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

13.


Related party transactions


The directors consider the following companies to be connected parties by virtue common control:
         
Solarware Limited (Company Number 05164117)     
Energy Environmental Technical Services Limited  (Company Number 06982975)  
B2 Landlord Limited (formerly EETS Property Limited (Company Number 08064965)  
GB-Sol Projects Ltd (Company Number 07508773)     
GB Renewables Investments Limited (Company Number 07200473)   
         
During the period the company invoiced the following companies on a normal commercial basis for project work, material costs recharged and management fees. B2 Landlord Limited £nil (2022: £4,577), GB-Sol Projects Limited £2,303,454 (2022: £1,514,986) and GB Renewables Investments Limited £233,390 (2022:£15,000). As at 30 June 2023 a trade debtor balance of £360,000 (2022: £nil) was owed to the company by GB-Sol Projects Limited.
         
During the period, Solarware Limited invoiced the company £8,000 (2022: £nil) for equipment rental on a normal commercial basis. Factory rental of £24,224 (2022: £21,177) was charged to the company by B2 Landlord Limited.
         
An intracompany balance of £nil (2022: £7,000) was owed to the company by GB-Sol Projects Limited and £nil (2022: £1,980) was owed to the company by Solarware Limited, this amount is interest free and has no fixed repayment terms.
         
An intracompany balance of £182,692 (2022: £213,052) was owed to GB Renewables Investments Limited, this amount is interest free and is repayable upon demand.

 
Page 9