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REGISTERED NUMBER: 03925802 (England and Wales)







Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Solarsense (UK) Ltd

Solarsense (UK) Ltd (Registered number: 03925802)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Solarsense (UK) Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: S A Barrett
R Mees
R J Sturge
A E Wood





REGISTERED OFFICE: Unit 1A
Tweed Road Industiral Estate
Clevedon
North Somerset
BS21 6RR





REGISTERED NUMBER: 03925802 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Solarsense (UK) Ltd (Registered number: 03925802)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 130,569 120,889

CURRENT ASSETS
Stocks 5 419,102 929,681
Debtors 6 1,314,380 2,121,779
Cash at bank and in hand 2,126,263 944,739
3,859,745 3,996,199
CREDITORS
Amounts falling due within one year 7 (2,611,290 ) (2,507,034 )
NET CURRENT ASSETS 1,248,455 1,489,165
TOTAL ASSETS LESS CURRENT LIABILITIES 1,379,024 1,610,054

CREDITORS
Amounts falling due after more than one year 8 (51,681 ) (120,341 )

PROVISIONS FOR LIABILITIES (7,464 ) (95,150 )
NET ASSETS 1,319,879 1,394,563

CAPITAL AND RESERVES
Called up share capital 11 200 200
Retained earnings 1,319,679 1,394,363
SHAREHOLDERS' FUNDS 1,319,879 1,394,563

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 12 November 2024 and were signed on its behalf by:





S A Barrett - Director


Solarsense (UK) Ltd (Registered number: 03925802)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Solarsense (UK) Ltd 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% 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.

Prior year adjustment
The work in progress element within stock has been reclassified into debtors accrued income, to better reflect its nature.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Solarsense (UK) Ltd (Registered number: 03925802)

Notes to the Financial Statements - continued
for the Year Ended 29 February 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 36 (2023 - 30 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 March 2023 45,335 75,382 19,909
Additions 1,535 6,602 1,588
Disposals - - -
At 29 February 2024 46,870 81,984 21,497
DEPRECIATION
At 1 March 2023 3,749 64,756 17,680
Charge for year 9,297 3,791 1,000
Eliminated on disposal - - -
At 29 February 2024 13,046 68,547 18,680
NET BOOK VALUE
At 29 February 2024 33,824 13,437 2,817
At 28 February 2023 41,586 10,626 2,229

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 140,732 105,301 386,659
Additions 80,190 15,659 105,574
Disposals (35,886 ) - (35,886 )
At 29 February 2024 185,036 120,960 456,347
DEPRECIATION
At 1 March 2023 99,778 79,807 265,770
Charge for year 64,516 9,306 87,910
Eliminated on disposal (27,902 ) - (27,902 )
At 29 February 2024 136,392 89,113 325,778
NET BOOK VALUE
At 29 February 2024 48,644 31,847 130,569
At 28 February 2023 40,954 25,494 120,889

Solarsense (UK) Ltd (Registered number: 03925802)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023 106,450
Reclassification/transfer (75,460 )
At 29 February 2024 30,990
DEPRECIATION
At 1 March 2023 50,256
Charge for year 3,000
Reclassification/transfer (32,703 )
At 29 February 2024 20,553
NET BOOK VALUE
At 29 February 2024 10,437
At 28 February 2023 56,194

5. STOCKS
29.2.24 28.2.23
£    £   
Stocks 419,102 929,681

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 797,672 972,714
Other debtors - 150,674
VAT - 139,729
Prepayments and accrued income 373,560 782,727
Prepayments 143,148 75,935
1,314,380 2,121,779

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other loans 119,404 116,251
Hire purchase contracts (see note 9) 3,946 3,946
Payments on account 1,188,157 1,110,617
Trade creditors 573,067 896,185
Amounts owed to group undertakings 31,320 32,376
Tax 101,203 190,531
Social security and other taxes 42,720 28,013
VAT 171,375 -
Other creditors 4,809 39,959
Accrued expenses 375,289 89,156
2,611,290 2,507,034

Solarsense (UK) Ltd (Registered number: 03925802)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Other loans - 1-2 years 50,753 64,782
Other loans - 2-5 years - 50,753
Hire purchase contracts (see note 9) 928 4,806
51,681 120,341

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
29.2.24 28.2.23
£    £   
Net obligations repayable:
Within one year 3,946 3,946
Between one and five years 928 4,806
4,874 8,752

Non-cancellable operating leases
29.2.24 28.2.23
£    £   
Within one year 31,857 8,770
Between one and five years 170,114 35,079
In more than five years - 41,014
201,971 84,863

10. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Other loans 170,157 231,786
Hire purchase contracts 4,874 8,752
175,031 240,538

The bank loans are secured against freehold property.

A cross guarantee exists between this company and the parent, Solarsense (UK) Property Limited for all bank balances.

The hire purchase agreements are secured against the assets to which they relate.

The loans from Rowanmoor Trustees Limited carry a fixed and floating charge.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
200 Ordinary £1 200 200

Solarsense (UK) Ltd (Registered number: 03925802)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

12. PENSION COMMITMENTS

At the balance sheet date, the outstanding debtor was £313 (2023 - £1,289).

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year, payments were made in settlement of an Employee Ownership Trust of £1,210,192 which holds an interest in the company.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Solarsense Employee Ownership Trust Ltd.