Registered number
04081750
Solution MHE Limited
Filleted Accounts
30 June 2023
Solution MHE Limited
Registered number: 04081750
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 268,326 217,177
Current assets
Stocks 173,318 165,019
Debtors 5 1,082,050 512,216
Cash at bank and in hand 96,543 47,033
1,351,911 724,268
Creditors: amounts falling due within one year 6 (1,177,861) (550,031)
Net current assets 174,050 174,237
Total assets less current liabilities 442,376 391,414
Creditors: amounts falling due after more than one year 7 (33,657) (46,605)
Provisions for liabilities (66,413) (40,723)
Net assets 342,306 304,086
Capital and reserves
Called up share capital 86 86
Capital redemption reserve 8 90 90
Profit and loss account 342,130 303,910
Shareholder's funds 342,306 304,086
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
F Smith
Director
Approved by the board on 12 September 2023
Solution MHE Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% straight line
Hire Fleet 15-100% straight line
Plant and machinery etc. 15-33% straight line
Motor vehicles 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 17 17
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2022 4,750
At 30 June 2023 4,750
Amortisation
At 1 July 2022 4,750
At 30 June 2023 4,750
Net book value
At 30 June 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2022 685,098 160,263 845,361
Additions 187,456 13,500 200,956
Disposals (73,727) - (73,727)
At 30 June 2023 798,827 173,763 972,590
Depreciation
At 1 July 2022 493,406 134,778 628,184
Charge for the year 124,368 14,719 139,087
On disposals (63,007) - (63,007)
At 30 June 2023 554,767 149,497 704,264
Net book value
At 30 June 2023 244,060 24,266 268,326
At 30 June 2022 191,692 25,485 217,177
5 Debtors 2023 2022
£ £
Trade debtors 1,018,899 424,811
Related parties (associated company) 52,202 52,202
Other debtors 10,949 35,203
1,082,050 512,216
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 616 31,013
Obligations under finance lease and hire purchase contracts 89,165 65,319
Trade creditors 722,756 252,285
Taxes and social security 149,124 35,153
Other creditors 216,200 166,261
1,177,861 550,031
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 33,657 46,605
8 Capital redemption reserve 2023 2022
£ £
At 1 July 2022 90 90
At 30 June 2023 90 90
9 Events after the reporting date
There was a fire at the trading premises of the business at 118B Burcott Road, Avonmouth on 3 September 2023. The business was unable to operate from the premises after the fire.
10 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 74,081 90,828
11 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
F Smith
Loan from director to Company 5,784 (5,784) -
5,784 - (5,784) -
12 Related party transactions
As at the year end the company was owed £41,041 (2022: £41,041) from The Forktruck Shop.com Limited, a company in which Mr F Smith has a controlling interest.

The director is also a director of Joskin Holdings Limited who owns the property at 118B Burcott Road, which is leased to the Company. The amount of rent paid during the part year was £41,600 (2022: £7,452). At the balance sheet date £Nil is owed to the company from Joskin Holdings Limited (2022: £3,853).
13 Controlling party
As at the balance sheet date, the company was under the control of Joskin Holdings Limited.
14 Other information
Solution MHE Limited is a private company limited by shares and incorporated in England. Its registered office is:
118B Burcott Road
Avonmouth
Bristol
BS11 8AB
Solution MHE Limited 04081750 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts October 2023 release 2 F Smith No description of principal activity 04081750 2021-07-01 2022-06-30 04081750 core:WithinOneYear 2022-06-30 04081750 core:AfterOneYear 2022-06-30 04081750 core:ShareCapital 2022-06-30 04081750 core:OtherReservesSubtotal 2022-06-30 04081750 core:RetainedEarningsAccumulatedLosses 2022-06-30 04081750 core:AllPeriods 2022-06-30 04081750 core:RevaluationReserve 2021-06-30 04081750 2022-07-01 2023-06-30 04081750 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 04081750 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 04081750 bus:Director40 2022-07-01 2023-06-30 04081750 1 2022-07-01 2023-06-30 04081750 2 2022-07-01 2023-06-30 04081750 core:PlantMachinery 2022-07-01 2023-06-30 04081750 core:Vehicles 2022-07-01 2023-06-30 04081750 1 2022-07-01 2023-06-30 04081750 bus:Director1 2022-07-01 2023-06-30 04081750 bus:Director1 1 2022-07-01 2023-06-30 04081750 countries:England 2022-07-01 2023-06-30 04081750 bus:FRS102 2022-07-01 2023-06-30 04081750 bus:FullAccounts 2022-07-01 2023-06-30 04081750 2023-06-30 04081750 core:WithinOneYear 2023-06-30 04081750 core:AfterOneYear 2023-06-30 04081750 core:ShareCapital 2023-06-30 04081750 core:OtherReservesSubtotal 2023-06-30 04081750 core:RetainedEarningsAccumulatedLosses 2023-06-30 04081750 core:Goodwill 2023-06-30 04081750 core:PlantMachinery 2023-06-30 04081750 core:Vehicles 2023-06-30 04081750 core:RevaluationReserve 2023-06-30 04081750 core:AllPeriods 2023-06-30 04081750 bus:Director1 1 2023-06-30 04081750 2022-06-30 04081750 core:Goodwill 2022-06-30 04081750 core:PlantMachinery 2022-06-30 04081750 core:Vehicles 2022-06-30 04081750 core:RevaluationReserve 2022-06-30 04081750 bus:Director1 1 2022-06-30 iso4217:GBP xbrli:pure