Company Registration No. 12622565 (England and Wales)
Solent Power Ltd
Unaudited accounts
for the year ended 31 May 2023
Solent Power Ltd
Unaudited accounts
Contents
Solent Power Ltd
Company Information
for the year ended 31 May 2023
Directors
P Phelps
S Phelps
Company Number
12622565 (England and Wales)
Registered Office
UNIT 7 MAYFLOWER CLOSE
CHANDLER'S FORD
EASTLEIGH
SO53 4AR
ENGLAND
Accountants
C&C Accountants and Tax Advisors
7 Henderson Close
Hastings
East Sussex
TN34 2DU
Solent Power Ltd
Statement of financial position
as at 31 May 2023
Tangible assets
11,678
9,615
Cash at bank and in hand
24,525
30,314
Creditors: amounts falling due within one year
(67,833)
(42,676)
Net current assets/(liabilities)
3,911
(519)
Total assets less current liabilities
15,589
9,096
Provisions for liabilities
Called up share capital
10
10
Profit and loss account
13,357
9,086
Shareholders' funds
13,367
9,096
For the year ending 31 May 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 Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 January 2024 and were signed on its behalf by
P Phelps
Director
Company Registration No. 12622565
Solent Power Ltd
Notes to the Accounts
for the year ended 31 May 2023
Solent Power Ltd is a private company, limited by shares, registered in England and Wales, registration number 12622565. The registered office is UNIT 7 MAYFLOWER CLOSE, CHANDLER'S FORD, EASTLEIGH, SO53 4AR, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
33% on cost
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2022
732
10,950
1,672
13,354
Additions
3,114
-
3,064
6,178
At 31 May 2023
3,846
10,950
4,736
19,532
At 1 June 2022
110
3,052
577
3,739
Charge for the year
562
1,975
1,578
4,115
At 31 May 2023
672
5,027
2,155
7,854
At 31 May 2023
3,174
5,923
2,581
11,678
At 31 May 2022
622
7,898
1,095
9,615
Solent Power Ltd
Notes to the Accounts
for the year ended 31 May 2023
Amounts falling due within one year
Trade debtors
38,402
11,181
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
11,793
8,330
Loans from directors
6,691
14,219
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).