Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-302022-07-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07508773 2022-07-01 2023-06-30 07508773 2021-07-01 2022-06-30 07508773 2023-06-30 07508773 2022-06-30 07508773 c:Director3 2022-07-01 2023-06-30 07508773 d:PlantMachinery 2022-07-01 2023-06-30 07508773 d:PlantMachinery 2023-06-30 07508773 d:PlantMachinery 2022-06-30 07508773 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07508773 d:CurrentFinancialInstruments 2023-06-30 07508773 d:CurrentFinancialInstruments 2022-06-30 07508773 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07508773 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 07508773 d:ShareCapital 2023-06-30 07508773 d:ShareCapital 2022-06-30 07508773 d:RetainedEarningsAccumulatedLosses 2023-06-30 07508773 d:RetainedEarningsAccumulatedLosses 2022-06-30 07508773 c:FRS102 2022-07-01 2023-06-30 07508773 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 07508773 c:FullAccounts 2022-07-01 2023-06-30 07508773 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07508773 2 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure
Registered number: 07508773






GB-SOL PROJECTS LIMITED

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

 
GB-SOL PROJECTS LIMITED
REGISTERED NUMBER: 07508773

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,754
-

  
10,754
-

Current assets
  

Stocks
  
430,259
-

Debtors: amounts falling due within one year
 5 
322,137
217,385

Cash at bank and in hand
 6 
73,096
20,205

  
825,492
237,590

Creditors: amounts falling due within one year
 7 
(587,754)
(115,605)

Net current assets
  
 
 
237,738
 
 
121,985

Total assets less current liabilities
  
248,492
121,985

  

Net assets
  
248,492
121,985


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
248,392
121,885

  
248,492
121,985


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 PROJECTS LIMITED
REGISTERED NUMBER: 07508773
    
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 8 form part of these financial statements.

Page 2

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

1.


General information

GB-Sol Projects Limited is a company limited by shares and incorporated in England & Wales. Its registered office is Renewable Energy Works, Treforest Industrial Estate, Cardiff, United Kingdom, 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

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

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

2.Accounting policies (continued)

 
2.5

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:

Plant & machinery
-
25%

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS
Page 4

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

2.Accounting policies (continued)


2.10
Financial instruments (continued)

102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Page 5

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

2.Accounting policies (continued)


2.10
Financial instruments (continued)


Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Plant & machinery

£



Cost or valuation


Additions
11,690



At 30 June 2023

11,690



Depreciation


Charge for the year on owned assets
936



At 30 June 2023

936



Net book value



At 30 June 2023
10,754



At 30 June 2022
-

Page 6

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

5.


Debtors

2023
2022
£
£


Trade debtors
152,018
119,899

Other debtors
160,197
97,011

Prepayments and accrued income
9,922
475

322,137
217,385



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
73,096
20,205

73,096
20,205



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
380,201
23,725

Corporation tax
29,351
10,377

Other creditors
97,334
7,503

Accruals and deferred income
80,868
74,000

587,754
115,605


Page 7

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

8.


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 Limited (Company Number 04211052)         
GB Renewables Investments Limited (Company Number 07200473)         
         
During the year, GB-Sol Limited invoiced the company £2,303,454 (2022: £1,514,986) for project work, material costs recharged and management fees on a normal commercial basis.  As at 30 June 2023 a trade creditor balance of £360,000 (2022: £nil) was owed to GB-Sol Limited.         


9.


First time adoption of FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

 
Page 8