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Registration number: 05105890

Sunshine Solar Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Sunshine Solar Limited

Contents


 

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 10

 

Sunshine Solar Limited

Registration number: 05105890

Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

1

1

Tangible assets

6

61,087

63,484

 

61,088

63,485

Current assets

 

Stocks

7

490,758

547,275

Debtors

8

151,561

181,588

Cash at bank and in hand

 

430,953

659,216

 

1,073,272

1,388,079

Creditors: Amounts falling due within one year

9

(291,290)

(424,271)

Net current assets

 

781,982

963,808

Total assets less current liabilities

 

843,070

1,027,293

Creditors: Amounts falling due after more than one year

9

-

(1,429)

Provisions for liabilities

(6,735)

(5,163)

Net assets

 

836,335

1,020,701

Capital and reserves

 

Called up share capital

10

1,000

1,000

Retained earnings

835,335

1,019,701

Shareholders' funds

 

836,335

1,020,701



The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

Sunshine Solar Limited

Registration number: 05105890

Balance Sheet as at 30 April 2024 (continued)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 September 2024 and signed on its behalf by:
 

J C Clark
Company secretary and director

M V Charville
Director

 
     

 

Sunshine Solar Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 30
Ashwellthorpe Industrial Estate
Ashwellthorpe
Norwich
Norfolk
NR16 1ER
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Sunshine Solar Limited

Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Government grants

Government grants in relation to expenditure are credited to the profit and loss account in the period in which the related expenditure is charged.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Sunshine Solar Limited

Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property

4% Straight line

Motor vehicles

25% Reducing balance

Office equipment

15% Reducing balance

Computer equipment

50% Straight line

Fixtures, fittings and equipment

10% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Sunshine Solar Limited

Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 13).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

8,720

9,398

 

Sunshine Solar Limited

Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

10,000

10,000

At 30 April 2024

10,000

10,000

Amortisation

At 1 May 2023

9,999

9,999

At 30 April 2024

9,999

9,999

Carrying amount

At 30 April 2024

1

1

At 30 April 2023

1

1

 

Sunshine Solar Limited

Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)

6

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Computer equipment
£

Total
£

Cost or valuation

At 1 May 2023

35,107

57,437

9,000

18,959

120,503

Additions

-

4,033

-

2,438

6,471

Disposals

-

(183)

-

-

(183)

At 30 April 2024

35,107

61,287

9,000

21,397

126,791

Depreciation

At 1 May 2023

8,005

27,114

6,152

15,748

57,019

Charge for the year

1,389

3,846

712

2,773

8,720

Eliminated on disposal

-

(35)

-

-

(35)

At 30 April 2024

9,394

30,925

6,864

18,521

65,704

Carrying amount

At 30 April 2024

25,713

30,362

2,136

2,876

61,087

At 30 April 2023

27,102

30,323

2,848

3,211

63,484

Included within the net book value of land and buildings above is £25,713 (2023 - £27,102) in respect of long leasehold land and buildings.
 

7

Stocks

2024
£

2023
£

Other inventories

490,758

547,275

 

Sunshine Solar Limited

Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)

8

Debtors

Current

2024
£

2023
£

Trade debtors

142,998

169,936

Prepayments

8,480

11,379

Other debtors

83

273

 

151,561

181,588

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

1,429

17,152

Trade creditors

 

88,865

96,292

Directors' loan accounts

2,284

1,311

Taxation and social security

 

162,036

259,027

Other creditors

 

36,676

50,489

 

291,290

424,271

Due after one year

 

Loans and borrowings

-

1,429

 

Sunshine Solar Limited

Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £19,945 (2023 - £38,813).