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Company No: 06802424 (England and Wales)

SUNDIAL SOLAR SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

SUNDIAL SOLAR SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

SUNDIAL SOLAR SOLUTIONS LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
SUNDIAL SOLAR SOLUTIONS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR D McCormick
REGISTERED OFFICE Unit 14 Okehampton Bus Centre
Higher Stockley Mead Exeter Road
OKEHAMPTON
United Kingdom
COMPANY NUMBER 06802424 (England and Wales)
ACCOUNTANT Old Mill Accountancy Limited
Leeward House
Fitzroy Road
Exeter Business Park
Exeter
Devon
EX1 3LJ
SUNDIAL SOLAR SOLUTIONS LIMITED

BALANCE SHEET

As at 31 March 2024
SUNDIAL SOLAR SOLUTIONS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 2,458 2,958
Tangible assets 4 45,806 66,705
48,264 69,663
Current assets
Stocks 22,915 48,814
Debtors 5 122,854 86,753
Cash at bank and in hand 17,236 0
163,005 135,567
Creditors: amounts falling due within one year 6 ( 140,153) ( 81,976)
Net current assets 22,852 53,591
Total assets less current liabilities 71,116 123,254
Creditors: amounts falling due after more than one year 7 ( 29,174) ( 34,326)
Provision for liabilities ( 11,453) ( 14,203)
Net assets 30,489 74,725
Capital and reserves
Called-up share capital 100 100
Profit and loss account 30,389 74,625
Total shareholders' funds 30,489 74,725

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Sundial Solar Solutions Limited (registered number: 06802424) were approved and authorised for issue by the Director on 04 September 2024. They were signed on its behalf by:

D McCormick
Director
SUNDIAL SOLAR SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
SUNDIAL SOLAR SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sundial Solar Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 14 Okehampton Bus Centre, Higher Stockley Mead Exeter Road,, OKEHAMPTON, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 5 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Intangible assets

Computer software Total
£ £
Cost
At 01 April 2023 5,000 5,000
At 31 March 2024 5,000 5,000
Accumulated amortisation
At 01 April 2023 2,042 2,042
Charge for the financial year 500 500
At 31 March 2024 2,542 2,542
Net book value
At 31 March 2024 2,458 2,458
At 31 March 2023 2,958 2,958

4. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 April 2023 25,490 109,217 0 134,707
Additions 433 0 2,334 2,767
At 31 March 2024 25,923 109,217 2,334 137,474
Accumulated depreciation
At 01 April 2023 20,271 47,731 0 68,002
Charge for the financial year 1,605 21,844 217 23,666
At 31 March 2024 21,876 69,575 217 91,668
Net book value
At 31 March 2024 4,047 39,642 2,117 45,806
At 31 March 2023 5,219 61,486 0 66,705

5. Debtors

2024 2023
£ £
Trade debtors 111,280 67,984
Other debtors 11,574 18,769
122,854 86,753

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 5,225 7,173
Trade creditors 17,397 36,478
Amounts owed to related parties 530 8,775
Taxation and social security 6,499 16,005
Other creditors 110,502 13,545
140,153 81,976

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 29,174 34,326

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (repayable by instalments) 6,920 12,667

8. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 1,146 1,111

9. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts due to key management personnel 3,429 3,429
Amounts due to other related parties 4,392 4,392