Registered number
11794081
Solutions 1 Ltd
Filleted Accounts
31 January 2024
Solutions 1 Ltd
Registered number: 11794081
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 86,048 8,748
Current assets
Debtors 4 78,560 96,494
Cash at bank and in hand 27,848 49,794
106,408 146,288
Creditors: amounts falling due within one year 5 (46,977) (18,889)
Net current assets 59,431 127,399
Total assets less current liabilities 145,479 136,147
Creditors: amounts falling due after more than one year 6 (4,800) (8,400)
Provisions for liabilities (161) (1,663)
Net assets 140,518 126,084
Capital and reserves
Called up share capital 100 100
Profit and loss account 140,418 125,984
Shareholders' funds 140,518 126,084
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Pawel A. Filipek
Director
Approved by the board on 9 July 2024
Solutions 1 Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
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
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. Current and deferred tax liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2023 - 34,995 34,995
Additions 85,201 1,099 86,300
Disposals - (34,995) (34,995)
At 31 January 2024 85,201 1,099 86,300
Depreciation
At 1 February 2023 - 26,247 26,247
Charge for the year - 252 252
On disposals - (26,247) (26,247)
At 31 January 2024 - 252 252
Net book value
At 31 January 2024 85,201 847 86,048
At 31 January 2023 - 8,748 8,748
4 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 78,560 94,280
Other debtors, prepayments and deposits - 2,214
78,560 96,494
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,600 3,600
Obligations under finance lease and hire purchase contracts - 5,797
Trade creditors 110 110
Taxation and social security costs 5,495 9,143
Other creditors, directors loans 37,772 239
46,977 18,889
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,800 8,400
7 Other information
Solutions 1 Ltd is a private company limited by shares and incorporated in England. Its registered office is:
56 Railton Road
Flat 1
London
SE24 0LF
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