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REGISTERED NUMBER: 07768426 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Solsoft Group Limited

Solsoft Group Limited (Registered number: 07768426)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Solsoft Group Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M D Ralston
L J Ralston
C W A Madders
N A Farnworth
I V Clark





REGISTERED OFFICE: St Brandons House Suite 34
27-29 Great George Street
Bristol
BS1 5QT





REGISTERED NUMBER: 07768426 (England and Wales)





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

Solsoft Group Limited (Registered number: 07768426)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,897 -
Tangible assets 5 10,908 17,612
12,805 17,612

CURRENT ASSETS
Stocks - 187
Debtors 6 445,517 390,593
Cash at bank and in hand 407,336 434,135
852,853 824,915
CREDITORS
Amounts falling due within one year 7 704,462 574,147
NET CURRENT ASSETS 148,391 250,768
TOTAL ASSETS LESS CURRENT LIABILITIES 161,196 268,380

CREDITORS
Amounts falling due after more than one
year

8

(78,533

)

(128,133

)

PROVISIONS FOR LIABILITIES (3,574 ) (5,230 )
NET ASSETS 79,089 135,017

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 79,088 135,016
79,089 135,017

Solsoft Group Limited (Registered number: 07768426)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





M D Ralston - Director


Solsoft Group Limited (Registered number: 07768426)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Solsoft Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. It is recognised in the profit and loss account only when the company has met its contractual obligations and therefore earned the right to consideration.

Turnover from hardware and software sales is recognised on installation. Turnover from consultancy is recognised once the service has been provided. Turnover from computer support is recognised evenly over the period of support.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other intangible assets are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Tangible fixed 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.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements- 20% on cost
Fixtures, fittings & equipment- 33% on cost and 25% on cost

Solsoft Group Limited (Registered number: 07768426)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 18 ) .

Solsoft Group Limited (Registered number: 07768426)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 2,070
At 31 December 2023 2,070
AMORTISATION
Charge for year 173
At 31 December 2023 173
NET BOOK VALUE
At 31 December 2023 1,897

5. TANGIBLE FIXED ASSETS
Fixtures,
Leasehold fittings
improvements & equipment Totals
£    £    £   
COST
At 1 January 2023 4,523 81,384 85,907
Additions - 2,740 2,740
At 31 December 2023 4,523 84,124 88,647
DEPRECIATION
At 1 January 2023 4,396 63,899 68,295
Charge for year 127 9,317 9,444
At 31 December 2023 4,523 73,216 77,739
NET BOOK VALUE
At 31 December 2023 - 10,908 10,908
At 31 December 2022 127 17,485 17,612

Solsoft Group Limited (Registered number: 07768426)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 214,229 83,281
Other debtors 231,288 307,312
445,517 390,593

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 49,600 49,600
Trade creditors 65,009 60,318
Taxation and social security 221,763 187,357
Other creditors 368,090 276,872
704,462 574,147

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 78,533 128,133

Included in bank loans in notes 6 and 7 is a combined balance of £128,133 (2022 - £177,733) which is unsecured and guaranteed by the government.

9. PENSION COMMITMENTS

Included in the balance sheet are pensions payable of £3,449 (2022 - £3,691). The company participates in a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

10. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, including finance lease agreements not included in the balance sheet is £42,655 (2022 - £51,459).

Solsoft Group Limited (Registered number: 07768426)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. RELATED PARTY DISCLOSURES

Loans from related parties



Key
management


Total
2023 £ £
At start of period 38,675 38,675
Advanced 348,235 348,235
Repaid (385,672 ) (385,672 )
At end of period 1,238 1,238


Key
management


Total
2022 £ £
At start of period - -
Advanced 38,675 38,675
Repaid - -
At end of period 38,675 38,675

The loans from key management are interest free and repayable on demand.

Solsoft Group Limited (Registered number: 07768426)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. RELATED PARTY DISCLOSURES - continued

Loans to related parties



Key
management


Total
2023 £ £
At start of period - -
Advanced - -
Repaid - -
At end of period - -


Key
management


Total
2022 £ £
At start of period 150,133 150,133
Advanced 194,764 194,764
Repaid (344,897 ) (344,897 )
At end of period - -

The loans to key management are repayable on demand and interest is charged on loan balances owing to the company that exceed £10,000. Interest is charged at the HMRC prevailing rate.

Solsoft Group Limited (Registered number: 07768426)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. SUMMARY OF TRANSACTIONS WITH OTHER RELATED PARTIES

During the period the following transactions occured between Solsoft Group Limited, Cyber Tec Security Ltd, Cyber Tec Security Ltd (Jersey) and RGC (ENG) Limited:

Purchases of £240 (2022 - £71,202) recharged from RGC (ENG) Limited, and £998 (2022 - £351) recharged to RGC (ENG) Limited.

Solsoft Group Limited acquired a trade during the year from RGC (ENG) Limited for £2,070 (2022 - £Nil).

Purchases of £163 (2022 - £81,081) recharged from Cyber Tec Security Ltd.

Expenses of £21,360 (2022 - £20,680) recharged from Cyber Tec Security Ltd and £39,040 (2022 - £39,532) recharged to Cyber Tec Security Ltd.

Purchases of £56,913 (2022 - £2,000) recharged from Cyber Tec Security Ltd (Jersey).

Expenses of £31,932 (2022 - £Nil) recharged to Cyber Tec Security Ltd (Jersey).

Included within other debtors is a loan balance due from RGC (ENG) Limited of £11,886 (2022 - £71,834), which is repayable on demand.

Included within other debtors is a loan balance of £114,699 (2022 - £133,405) due from Cyber Tec Security Ltd.

Included within trade creditors is a balance of £Nil (2022 - £5,119), and a recharge balance of £Nil (2022 - £135) due to Cyber Tec Security Ltd.

Included within debtors is a trade debtors balance of £17 (2022 - £Nil), and a recharge balance of £Nil (2022 - £59) due from Cyber Tec Security Ltd (Jersey).

Included within trade creditors is a balance of £Nil (2022 - £2,000) due to Cyber Tec Security Ltd (Jersey).

M Ralston and L Ralston are directors of Solsoft Group Limited, Cyber Tec Security Ltd, Cyber Tec Security Ltd (Jersey) and RGC (ENG) Limited.