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REGISTERED NUMBER: 11821315 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

SOLENT COMPOSITE SOLUTIONS LIMITED

SOLENT COMPOSITE SOLUTIONS LIMITED (Registered number: 11821315)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOLENT COMPOSITE SOLUTIONS LIMITED

Company Information
for the Year Ended 29 February 2024







DIRECTORS: M S Chalk
Q Cheng





REGISTERED OFFICE: Unit 8 Broadfields Park
Seaview Road
Cowes
Isle of Wight
PO31 7US





REGISTERED NUMBER: 11821315 (England and Wales)





ACCOUNTANTS: Wilson & Co
Chartered Certified Accountants
3rd Floor
9 St. Clare Street
London
EC3N 1LQ

SOLENT COMPOSITE SOLUTIONS LIMITED (Registered number: 11821315)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,488 83,990
1,488 83,990

CURRENT ASSETS
Debtors 6 28,325 -
Cash at bank and in hand 6,397 2,167
34,722 2,167
CREDITORS
Amounts falling due within one year 7 699,818 756,863
NET CURRENT LIABILITIES (665,096 ) (754,696 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(663,608

)

(670,706

)

CREDITORS
Amounts falling due after more than one year 8 241,400 228,900
NET LIABILITIES (905,008 ) (899,606 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (905,108 ) (899,706 )
(905,008 ) (899,606 )

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.

SOLENT COMPOSITE SOLUTIONS LIMITED (Registered number: 11821315)

Balance Sheet - continued
29 February 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 19 November 2024 and were signed on its behalf by:





M S Chalk - Director


SOLENT COMPOSITE SOLUTIONS LIMITED (Registered number: 11821315)

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

1. STATUTORY INFORMATION

SOLENT COMPOSITE SOLUTIONS 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.

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.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
The financial statements have been prepared assuming the company will continue as a going concern.

At the year end the company had net liabilities of £685,762 and losst before taxation of £276,387. However, the directors consider that the company has adequate resources available in order to continue in operational existence for the foreseeable future based on the continuing support from its shareholder.

The financial statements do not include the adjustments that would result if the company would be unable to continue in operation.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

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

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.


SOLENT COMPOSITE SOLUTIONS LIMITED (Registered number: 11821315)

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

2. ACCOUNTING POLICIES - continued
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
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 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 3
AMORTISATION
At 1 March 2023
and 29 February 2024 3
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

SOLENT COMPOSITE SOLUTIONS LIMITED (Registered number: 11821315)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 202,948
Disposals (197,128 )
At 29 February 2024 5,820
DEPRECIATION
At 1 March 2023 118,958
Charge for year 873
Eliminated on disposal (115,499 )
At 29 February 2024 4,332
NET BOOK VALUE
At 29 February 2024 1,488
At 28 February 2023 83,990

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 28,325 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts - 7,873
Payments on account 26,700 -
Trade creditors 137,342 194,008
Taxation and social security 24,437 87,328
Other creditors 511,339 467,654
699,818 756,863

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 22,500 10,000
Other creditors 218,900 218,900
241,400 228,900

SOLENT COMPOSITE SOLUTIONS LIMITED (Registered number: 11821315)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
Q Cheng
Balance outstanding at start of year (172,075 ) (172,075 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (172,075 ) (172,075 )

M S Chalk
Balance outstanding at start of year (44,333 ) (39,937 )
Amounts advanced - (4,396 )
Amounts repaid 1 -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (44,332 ) (44,333 )

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Q Cheng.