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SHC SOLUTIONS LTD

Registered Number
12306230
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

SHC SOLUTIONS LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

RIDGWAY, Caroline
SIMONCIC, Marek

Registered Address

3 Cartwright Way
Bardon Hill
Coalville
LE67 1UE

Registered Number

12306230 (England and Wales)
SHC SOLUTIONS LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets458,61266,727
58,61266,727
Current assets
Stocks198,201198,201
Debtors5467,921226,434
Cash at bank and on hand88,06125,729
754,183450,364
Creditors amounts falling due within one year6(594,989)(458,488)
Net current assets (liabilities)159,194(8,124)
Total assets less current liabilities217,80658,603
Creditors amounts falling due after one year(92,354)(35,516)
Provisions for liabilities(11,136)(12,678)
Net assets114,31610,409
Capital and reserves
Called up share capital100100
Profit and loss account114,21610,309
Shareholders' funds114,31610,409
The financial statements were approved and authorised for issue by the Board of Directors on 7 September 2024, and are signed on its behalf by:
SIMONCIC, Marek
Director
Registered Company No. 12306230
SHC SOLUTIONS LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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 policy
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.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Land and buildings20
Plant and machinery5
Office Equipment5
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other 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.
Trade and other 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.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified. During the period the company made loans to Panelox Systems Limited, a company incorporated in England & Wales in which Mr. Marek Simoncic has a beneficial interest. At the end of the period the loan amount owed by Panelox Systems Limited to SHC Solutions Limited was £20,099 (2022: £0) During the period the company made loans to Eco Massive House Limited, a company incorporated in England & Wales in which Mr. Marek Simoncic has a beneficial interest. At the end of the period the loan amount owed by Eco Massive House Limited to SHC Solutions Limited was £181,431 (2022: £130,491). During the period the company made loans to The Building Material Shop Limited, a company incorporated in England & Wales in which Mr. Marek Simoncic has a beneficial interest. At the end of the period the loan amount owed by The Building Material Shop Limited was £164,844 (2022: -£34,690).
2.Average number of employees

20232022
Average number of employees during the year66
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 December 2276,612
Additions8,688
Disposals(5,000)
At 30 November 2380,300
Depreciation and impairment
At 01 December 229,886
Charge for year11,824
On disposals(22)
At 30 November 2321,689
Net book value
At 30 November 2358,612
At 30 November 2266,727
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables48,911-
Other debtors418,546225,759
Prepayments and accrued income464675
Total467,921226,434
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.
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables76,140141,986
Bank borrowings and overdrafts11,460-
Taxation and social security358,420255,186
Other creditors96961,316
Accrued liabilities and deferred income148,000-
Total594,989458,488
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.
7.Controlling party
The company is controlled by Mrs. [Wife's Name], who owns 100% of the share capital. The day-to-day operations and decision-making responsibilities are handled by Mr. [Husband's Name], who is also considered key management personnel. Mrs. Caroline Ridgeway is the sole shareholder, and Mr. Marek Simoncic manages the business operations. Mr. Marek Simoncic is responsible for planning, directing, and controlling the activities of the company