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Registration number: 14514418

Unit 8 Solutions Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Unit 8 Solutions Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Unit 8 Solutions Ltd

(Registration number: 14514418)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

544,026

451,587

Current assets

 

Debtors

5

21,500

200

Cash at bank and in hand

 

6,341

5,350

 

27,841

5,550

Creditors: Amounts falling due within one year

6

(462,500)

(449,630)

Net current liabilities

 

(434,659)

(444,080)

Total assets less current liabilities

 

109,367

7,507

Creditors: Amounts falling due after more than one year

6

(91,621)

-

Net assets

 

17,746

7,507

Capital and reserves

 

Called up share capital

100

100

Retained earnings

17,646

7,407

Shareholders' funds

 

17,746

7,507

 

Unit 8 Solutions Ltd

(Registration number: 14514418)
Balance Sheet as at 31 May 2024

For the financial year ending 31 May 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 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 October 2024
 

.........................................
Mr Charles Atholl Dew-Jones
Director

 

Unit 8 Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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 8 The Woodford Centre
Lysander Way
Old Sarum
Salisbury
Wiltshire
SP4 6BU
England

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

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

Plant and machinery

5% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Unit 8 Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Unit 8 Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 June 2023

463,000

463,000

Additions

115,500

115,500

At 31 May 2024

578,500

578,500

Depreciation

At 1 June 2023

11,413

11,413

Charge for the year

23,061

23,061

At 31 May 2024

34,474

34,474

Carrying amount

At 31 May 2024

544,026

544,026

At 31 May 2023

451,587

451,587

5

Debtors

Current

2024
£

2023
£

Other debtors

21,500

200

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

45,288

-

Trade creditors

28,600

11,018

Other creditors

388,612

438,612

462,500

449,630

 

Unit 8 Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

91,621

-

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Hire purchase contracts

45,288

-

2024
£

2023
£

Non-current loans and borrowings

Hire purchase contracts

91,621

-

 

Unit 8 Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

8

Related party transactions

Transactions with the director

2024

At 1 June 2023
£

Advances to director
£

At 31 May 2024
£

Mr Charles Atholl Dew-Jones

(437,612)

50,000

(387,612)

       
     

 

2023

At 29 November 2022
£

Other payments made to company by director
£

At 31 May 2023
£

Mr Charles Atholl Dew-Jones

-

(437,612)

(437,612)