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Registered number: 11800191

Solway Renovations Limited

ACCOUNTS
FOR THE YEAR ENDED 31/01/2024

Prepared By:
NB Lancaster & Co
Chartered Accountants
6 Brunswick Street
Carlisle
Cumbria
CA1 1PN

Solway Renovations Limited

ACCOUNTS
FOR THE YEAR ENDED 31/01/2024
DIRECTORS
Mr C R Pattinson
Mrs A Pattinson
REGISTERED OFFICE
Port House
Port Carlisle
Wigton
Cumbria
CA7 5BU
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 11800191
BANKERS
Cumberland Building Society
ACCOUNTANTS
NB Lancaster & Co
Chartered Accountants
6 Brunswick Street
Carlisle
Cumbria
CA1 1PN

Solway Renovations Limited

ACCOUNTS
FOR THEYEARENDED31/01/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Solway Renovations Limited

BALANCE SHEET AT 31/01/2024
20242023
Notes££
FIXED ASSETS
Tangible assets314,8706,566
CURRENT ASSETS
Stock160,000220,000
Debtors53,9963,101
Cash at bank and in hand5,39368,090
169,389291,191
CREDITORS: Amounts falling due within one year6123,222268,795
NET CURRENT ASSETS46,16722,396
TOTAL ASSETS LESS CURRENT LIABILITIES61,03728,962
CAPITAL AND RESERVES
Called up share capital822
Profit and loss account61,03528,960
SHAREHOLDERS' FUNDS61,03728,962
For the year ending 31/01/2024 the company was entitled to exemption 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 27/08/2024 and signed on their behalf by
.............................
Mr C R Pattinson
Director

Solway Renovations Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/01/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 20%
Commercial Vehiclesreducing balance 25%
Fixtures and Fittingsstraight line 33%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
2. EMPLOYEES
20242023
No.No.
Average number of employees11

Solway Renovations Limited

3. TANGIBLE FIXED ASSETS
Plant andCommercialFixtures
MachineryVehiclesand FittingsTotal
££££
Cost
At 01/02/202311,175-26011,435
Additions30212,500-12,802
At 31/01/202411,47712,50026024,237
Depreciation
At 01/02/20234,610-2594,869
For the year1,3733,125-4,498
At 31/01/20245,9833,1252599,367
Net Book Amounts
At 31/01/20245,4949,375114,870
At 31/01/20236,565-16,566
4. STOCK 20242023
££
Stock comprises:
Work in progress160,000220,000
160,000220,000
5. DEBTORS 20242023
££
Amounts falling due within one year
VAT3,9963,101
3,9963,101
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax9,0626,895
Other tax and social security creditors2,8583,502
Directors current account - Mr C R Pattinson104,136206,524
Trade creditors5,96611,786
Other creditors-33,888
Accruals1,2006,200
123,222268,795

Solway Renovations Limited

7. SECURED CREDITORS
20242023
££
Amount of other creditors which are secured-33,888
Other creditors are secured by way of a legal charge over the company's assets.
8. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
2 Ordinary shares of £1 each22
22
9. RELATED PARTY TRANSACTIONS
At the balance sheet date the company owed £104,136 (2023 - £206,524) to the directors. The loan is interest free, unsecured and repayable on demand.
Total remuneration of £9,096 was paid to the directors during the year (2023 - £7,580).
Dividends of £15,000 were paid to the directors during the year (2023 - £7,000).
10. ADDITIONAL INFORMATION
The company is a private company, limited by shares and registered in England & Wales.
The company's registered number is 11800191.
The company's registered office is Port House, Port Carlisle, Wigton, Cumbria, CA7 5BU.