Registered number
07726951
Solar-Frames (South West) Limited
Filleted Accounts
31 August 2024
Solar-Frames (South West) Limited
Registered number: 07726951
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 119,110 96,532
Current assets
Stocks 44,002 24,512
Debtors 4 23,006 45,668
Cash at bank and in hand 77,015 84,888
144,023 155,068
Creditors: amounts falling due within one year 5 (37,353) (61,392)
Net current assets 106,670 93,676
Total assets less current liabilities 225,780 190,208
Provisions for liabilities (23,228) (19,789)
Net assets 202,552 170,419
Capital and reserves
Called up share capital 100 100
Profit and loss account 202,452 170,319
Shareholder's funds 202,552 170,419
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr C Searle
Director
Approved by the board on 21 November 2024
Solar-Frames (South West) Limited
Notes to the Accounts
for the year ended 31 August 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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Buildings 10% reducing balance
Plant and machinery 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 - 15,060 163,658 178,718
Additions 6,447 17,150 27,951 51,548
At 31 August 2024 6,447 32,210 191,609 230,266
Depreciation
At 1 September 2023 - 6,023 76,163 82,186
Charge for the year 645 5,237 23,088 28,970
At 31 August 2024 645 11,260 99,251 111,156
Net book value
At 31 August 2024 5,802 20,950 92,358 119,110
At 31 August 2023 - 9,037 87,495 96,532
4 Debtors 2024 2023
£ £
Trade debtors 6,882 26,175
Other debtors 16,124 19,493
23,006 45,668
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 37,324 9,659
Taxation and social security costs 29 12,656
Director's loan - 39,077
37,353 61,392
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr C Searle
Director's current account, interest free and repayable on demand. - 743 - 743
- 743 - 743
7 Related party transactions
Mr Searle has a director's account with the company. Details are in note 6. Loans made to or from the company are interest free and repayable on demand.
8 Controlling party
Mr C Searle is the controlling party as he owns the entire share capital.
9 Other information
Solar-Frames (South West) Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Office, The Old Rectory
St Juliot
Boscastle
Cornwall
PL35 0BT
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