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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
Page
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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
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Solent Power Ltd Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,678 
9,615 
Current assets
Inventories
5,146 
- 
Debtors
42,073 
11,843 
Cash at bank and in hand
24,525 
30,314 
71,744 
42,157 
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
Deferred tax
(2,222)
- 
Net assets
13,367 
9,096 
Capital and reserves
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
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Solent Power Ltd Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
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.
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 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 
Depreciation
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 
Net book value
At 31 May 2023
3,174 
5,923 
2,581 
11,678 
At 31 May 2022
622 
7,898 
1,095 
9,615 
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Solent Power Ltd Notes to the Accounts for the year ended 31 May 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
3,009 
- 
Trade debtors
38,402 
11,181 
Other debtors
662 
662 
42,073 
11,843 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
- 
7,126 
Trade creditors
14,972 
- 
Taxes and social security
11,793 
8,330 
Other creditors
2,930 
- 
Loans from directors
6,691 
14,219 
Accruals
31,447 
13,001 
67,833 
42,676 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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