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REGISTERED NUMBER: 04783104 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Solvair Limited

Solvair Limited (Registered number: 04783104)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Solvair Limited

Company Information
for the year ended 30 June 2024







DIRECTORS: Mrs N J Davies
C L Davies





REGISTERED OFFICE: 20 Altitude Business Park
The Drift Nacton Road
Ipswich
Suffolk
IP3 9QN





REGISTERED NUMBER: 04783104 (England and Wales)





ACCOUNTANTS: Tile & Co
Warden House
37 Manor Road
Colchester
Essex
CO3 3LX

Solvair Limited (Registered number: 04783104)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 90,005 86,468

CURRENT ASSETS
Stocks 205,349 153,768
Debtors 5 350,972 312,682
Cash at bank 49,404 97,718
605,725 564,168
CREDITORS
Amounts falling due within one year 6 455,076 413,845
NET CURRENT ASSETS 150,649 150,323
TOTAL ASSETS LESS CURRENT
LIABILITIES

240,654

236,791

CREDITORS
Amounts falling due after more than one
year

7

(54,881

)

(104,943

)

PROVISIONS FOR LIABILITIES (21,270 ) (20,308 )
NET ASSETS 164,503 111,540

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 164,403 111,440
164,503 111,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

Solvair Limited (Registered number: 04783104)

Balance Sheet - continued
30 June 2024


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 9 October 2024 and were signed on its behalf by:




C L Davies - Director



Mrs N J Davies - Director


Solvair Limited (Registered number: 04783104)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Solvair 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 the 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 20% on cost
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 10% on cost

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.

Solvair Limited (Registered number: 04783104)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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 7 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 37,383 143,707 181,090
Additions - 33,017 33,017
Disposals - (10,703 ) (10,703 )
At 30 June 2024 37,383 166,021 203,404
DEPRECIATION
At 1 July 2023 20,374 74,248 94,622
Charge for year 5,511 20,707 26,218
Eliminated on disposal - (7,441 ) (7,441 )
At 30 June 2024 25,885 87,514 113,399
NET BOOK VALUE
At 30 June 2024 11,498 78,507 90,005
At 30 June 2023 17,009 69,459 86,468

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 144,281 244,906
Amounts owed by group undertakings 133,000 -
Other debtors 73,691 67,776
350,972 312,682

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 63,615 58,217
Hire purchase contracts 6,776 -
Trade creditors 301,279 281,170
Taxation and social security 59,700 39,558
Other creditors 23,706 34,900
455,076 413,845

Solvair Limited (Registered number: 04783104)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 41,328 104,943
Hire purchase contracts 13,553 -
54,881 104,943