Company Registration No. 2902048 (England and Wales)
Solutech Limited
Unaudited accounts
for the year ended 29 February 2024
Solutech Limited
Unaudited accounts
Contents
Solutech Limited
Company Information
for the year ended 29 February 2024
Directors
George Robert Washington
Michael Washington
Denise Doherty
Company Number
2902048 (England and Wales)
Registered Office
C/O SOLUTECH BARLOW DRIVE
WOODFORD PARK INDUSTRIAL ESTATE
WINSFORD
CW7 2JZ
ENGLAND
Accountants
Montague Charles
Hesketh Mount
92 Lord Street
Southport
PR8 1JR
Solutech Limited
Statement of financial position
as at 29 February 2024
Tangible assets
44,000
58,691
Inventories
265,663
327,323
Debtors
1,305,716
2,620,626
Cash at bank and in hand
864,051
949,934
Creditors: amounts falling due within one year
(1,200,976)
(2,792,617)
Net current assets
1,234,454
1,105,266
Total assets less current liabilities
1,278,454
1,163,957
Provisions for liabilities
Deferred tax
(8,294)
(11,056)
Net assets
1,270,160
1,152,901
Called up share capital
28,500
28,500
Profit and loss account
1,241,660
1,124,401
Shareholders' funds
1,270,160
1,152,901
For the year ending 29 February 2024 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 5 August 2024 and were signed on its behalf by
Denise Doherty
Director
Company Registration No. 2902048
Solutech Limited
Notes to the Accounts
for the year ended 29 February 2024
Solutech Limited is a private company, limited by shares, registered in England and Wales, registration number 2902048. The registered office is C/O SOLUTECH BARLOW DRIVE, WOODFORD PARK INDUSTRIAL ESTATE, WINSFORD, CW7 2JZ, 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.
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell.
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
25% reducing balance
Computer equipment
33% reducing balance
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
562,863
680
2,499
566,042
At 29 February 2024
562,863
680
2,499
566,042
At 1 March 2023
504,395
680
2,276
507,351
Charge for the year
14,617
-
74
14,691
At 29 February 2024
519,012
680
2,350
522,042
At 29 February 2024
43,851
-
149
44,000
At 28 February 2023
58,468
-
223
58,691
Solutech Limited
Notes to the Accounts
for the year ended 29 February 2024
Amounts falling due within one year
Trade debtors
1,299,940
2,597,460
Accrued income and prepayments
5,776
4,039
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
1,115,683
2,533,352
Taxes and social security
69,349
71,228
Other creditors
3,392
3,392
Loans from directors
49
49
7
Operating lease commitments
2024
2023
At 29 February 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
100,000
52,208
Later than one year and not later than five years
-
7,184
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to director
(49)
-
-
(49)
The company is controlled by Rabble Limited, a company registered in England and Wales.
10
Average number of employees
During the year the average number of employees was 11 (2023: 10).