1 15 January 2025 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,595 2,595 2,595 2,595 40 33 7 7 40 xbrli:pure xbrli:shares iso4217:GBP 8581872 2023-05-01 2024-04-30 8581872 2024-04-30 8581872 2023-04-30 8581872 2022-05-01 2023-04-30 8581872 2023-04-30 8581872 2022-04-30 8581872 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 8581872 bus:Director2 2023-05-01 2024-04-30 8581872 core:WithinOneYear 2024-04-30 8581872 core:WithinOneYear 2023-04-30 8581872 core:MotorVehicles 2023-04-30 8581872 core:MotorVehicles 2023-05-01 2024-04-30 8581872 core:ShareCapital 2024-04-30 8581872 core:ShareCapital 2023-04-30 8581872 core:RetainedEarningsAccumulatedLosses 2024-04-30 8581872 core:RetainedEarningsAccumulatedLosses 2023-04-30 8581872 core:CostValuation core:Non-currentFinancialInstruments 2023-04-30 8581872 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-04-30 8581872 core:CostValuation core:Non-currentFinancialInstruments 2024-04-30 8581872 core:Non-currentFinancialInstruments 2024-04-30 8581872 core:Non-currentFinancialInstruments 2023-04-30 8581872 bus:SmallEntities 2023-05-01 2024-04-30 8581872 bus:Audited 2023-05-01 2024-04-30 8581872 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 8581872 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 8581872 bus:FullAccounts 2023-05-01 2024-04-30 8581872 bus:OrdinaryShareClass1 2024-04-30 8581872 bus:OrdinaryShareClass1 2023-04-30
COMPANY REGISTRATION NUMBER: 8581872
SOLAER UK LIMITED
FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 April 2024
SOLAER UK LIMITED
BALANCE SHEET
30 April 2024
2024
2023
Note
£
£
£
£
Fixed assets
Investments
6
7
40
Current assets
Debtors
7
13,683,063
12,350,275
Cash at bank and in hand
180,189
103,207
------------
------------
13,863,252
12,453,482
Creditors: amounts falling due within one year
8
( 11,241,710)
( 9,832,128)
------------
------------
Net current assets
2,621,542
2,621,354
-----------
-----------
Total assets less current liabilities
2,621,549
2,621,394
-----------
-----------
Net assets
2,621,549
2,621,394
-----------
-----------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
2,621,449
2,621,294
-----------
-----------
Shareholders funds
2,621,549
2,621,394
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 15 January 2025 , and are signed on behalf of the board by:
A Mozas Fenoll
Director
Company registration number: 8581872
SOLAER UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. General information
Solaer UK Limited is a limited liability company incorporated in England. The Registered Office is 2, Crossways Business Centre, Bicester Road, Kingswood, Aylesbury, Bucks HP18 0RA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years unless otherwise stated. Going concern The directors are required to prepare financial statements on the going concern basis, unless it is inappropriate to presume that the company will continue in business. The directors believe that the adoption of the going concern basis in the preparation of the financial statements is appropriate due to the continuing support from the companies within the group. Revenue recognition The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference. Foreign currencies Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles - 25% Straight line basis
Investments in associates Investments in associates are accounted for at cost less any accumulated impairment losses. Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Basic financial assets, which include trade and other receivables, loans owed by participating interests and cash at bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade payables, other payables, group loans and loans from other related entities, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Distributions to equity holders
Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Motor vehicles
Total
£
£
Cost
At 1 May 2023
2,595
2,595
Disposals
( 2,595)
( 2,595)
------
------
At 30 April 2024
------
------
Depreciation
At 1 May 2023
2,595
2,595
Disposals
( 2,595)
( 2,595)
------
------
At 30 April 2024
------
------
Carrying amount
At 30 April 2024
------
------
At 30 April 2023
------
------
6. Investments
Shares in participating interests
£
Cost
At 1 May 2023
40
Disposals
( 33)
----
At 30 April 2024
7
----
Impairment
At 1 May 2023 and 30 April 2024
----
Carrying amount
At 30 April 2024
7
----
At 30 April 2023
40
----
7. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
13,653,054
12,349,048
Other debtors
30,009
1,227
------------
------------
13,683,063
12,350,275
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,815
6,951
Amounts owed to group undertakings
4,131,277
4,131,277
Accruals and deferred income
6,750
4,250
Corporation tax
77,104
Social security and other taxes
4,819
Other creditors
40
Amounts owed to other related entities
7,100,868
5,607,687
------------
-----------
11,241,710
9,832,128
------------
-----------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
6,875
----
------
11. Summary audit opinion
The auditor's report dated 15 January 2025 was unqualified .
The senior statutory auditor was W J E Kerr , for and on behalf of Xeinadin Audit Limited .
12. Controlling party
From 17 November 2022, the ultimate parent company changed from Solaer Holdings SL to Los Dalton De Pozoseco SL, both companies are incorporated in Spain. From 17 November 2022, no one party has ultimate control.