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Company Registration No. 05816689 (England and Wales)
Solar Gates UK Ltd Unaudited accounts for the year ended 31 May 2023
Solar Gates UK Ltd Unaudited accounts Contents
Page
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Solar Gates UK Ltd Company Information for the year ended 31 May 2023
Directors
Mr Neil Sampson Mr Christopher Long Mr Steven Billot
Company Number
05816689 (England and Wales)
Registered Office
The Packhouse Heath Road Boughton Monchelsea Maidstone ME17 4JB
Accountants
Rustrick Accountants Limited 380A New Hythe lane Larkfield Maidstone Kent ME20 6RZ
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Solar Gates UK Ltd Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
262,126 
292,846 
Current assets
Inventories
381,052 
197,332 
Debtors
716,667 
291,438 
Cash at bank and in hand
201,005 
39,551 
1,298,724 
528,321 
Creditors: amounts falling due within one year
(609,340)
(367,162)
Net current assets
689,384 
161,159 
Total assets less current liabilities
951,510 
454,005 
Creditors: amounts falling due after more than one year
(21,063)
(53,000)
Provisions for liabilities
Deferred tax
(65,531)
(53,419)
Net assets
864,916 
347,586 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
864,816 
347,486 
Shareholders' funds
864,916 
347,586 
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 4 December 2023 and were signed on its behalf by
Mr Neil Sampson Director Company Registration No. 05816689
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Solar Gates UK Ltd Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Solar Gates UK Ltd is a private company, limited by shares, registered in England and Wales, registration number 05816689. The registered office is The Packhouse, Heath Road, Boughton Monchelsea, Maidstone, ME17 4JB.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over period of lease
Plant & machinery
15% reducing balance/20% straight line
Motor vehicles
15% reducing balance
Fixtures & fittings
15% reducing balance
Computer equipment
15% reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Solar Gates UK Ltd Notes to the Accounts for the year ended 31 May 2023
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 June 2022
4,784 
260,469 
156,081 
10,563 
13,296 
445,193 
Additions
- 
120,199 
12,750 
- 
3,454 
136,403 
Disposals
(1,096)
(147,882)
- 
(10,563)
(3,825)
(163,366)
At 31 May 2023
3,688 
232,786 
168,831 
- 
12,925 
418,230 
Depreciation
At 1 June 2022
3,191 
98,717 
41,401 
6,503 
2,535 
152,347 
Charge for the year
319 
46,977 
18,755 
609 
2,020 
68,680 
On disposals
(745)
(55,399)
- 
(7,112)
(1,667)
(64,923)
At 31 May 2023
2,765 
90,295 
60,156 
- 
2,888 
156,104 
Net book value
At 31 May 2023
923 
142,491 
108,675 
- 
10,037 
262,126 
At 31 May 2022
1,593 
161,752 
114,680 
4,060 
10,761 
292,846 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
10,999 
8,458 
5
Inventories
2023 
2022 
£ 
£ 
Work in progress
102,750 
13,500 
Finished goods
278,302 
183,832 
381,052 
197,332 
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Solar Gates UK Ltd Notes to the Accounts for the year ended 31 May 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
643,684 
229,537 
Accrued income and prepayments
33,487 
21,091 
Other debtors
39,496 
40,810 
716,667 
291,438 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
Obligations under finance leases and hire purchase contracts
6,375 
1,375 
Trade creditors
170,232 
144,701 
Taxes and social security
239,654 
58,197 
Other creditors
37,146 
50,114 
Loans from directors
- 
4,000 
Accruals
61,004 
3,865 
Deferred income
84,929 
94,910 
609,340 
367,162 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
20,000 
30,000 
Obligations under finance leases and hire purchase contracts
1,063 
- 
Other creditors
- 
23,000 
21,063 
53,000 
9
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
65,531 
53,419 
2023 
2022 
£ 
£ 
Provision at start of year
53,419 
48,973 
Charged to the profit and loss account
12,112 
4,446 
Provision at end of year
65,531 
53,419 
10
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Solar Gates UK Ltd Notes to the Accounts for the year ended 31 May 2023
11
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr Neil Sampson
Loan
- 
9,549 
- 
9,549 
- 
9,549 
- 
9,549 
12
Average number of employees
During the year the average number of employees was 20 (2022: 20).
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