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Registration number: 15053517

Nanosun Solar Limited

Unaudited Filleted Financial Statements

for the Period from 7 August 2023 to 31 August 2024

 

Nanosun Solar Limited
(Registration number: 15053517)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Nanosun Solar Limited
(Registration number: 15053517)

Company Information

Director

K Kuran

Registered office

Suite A Bank House
81 Judes Road
Egham
Surrey
TW20 0DF

Accountants

Thompson Jenner LLP
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Nanosun Solar Limited
(Registration number: 15053517)

Balance Sheet as at 31 August 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

600

Current assets

 

Stocks

5

399,281

Debtors

6

213,645

Cash at bank and in hand

 

47,906

 

660,832

Creditors: Amounts falling due within one year

7

(637,072)

Net current assets

 

23,760

Total assets less current liabilities

 

24,360

Provisions for liabilities

(114)

Net assets

 

24,246

Capital and reserves

 

Called up share capital

1,000

Profit and loss account

23,246

Total equity

 

24,246

For the financial period ending 31 August 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 period in question in accordance with section 476; and

The director acknowledges their 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 13 February 2025
 

 

Nanosun Solar Limited
(Registration number: 15053517)

Balance Sheet as at 31 August 2024

.........................................
K Kuran
Director

 

Nanosun Solar Limited
(Registration number: 15053517)

Notes to the Unaudited Financial Statements for the Period from 7 August 2023 to 31 August 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:
Suite A Bank House
81 Judes Road
Egham
Surrey
TW20 0DF

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Nanosun Solar Limited
(Registration number: 15053517)

Notes to the Unaudited Financial Statements for the Period from 7 August 2023 to 31 August 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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

Computer equipment

Straight Line 25%

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Nanosun Solar Limited
(Registration number: 15053517)

Notes to the Unaudited Financial Statements for the Period from 7 August 2023 to 31 August 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

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

 

Nanosun Solar Limited
(Registration number: 15053517)

Notes to the Unaudited Financial Statements for the Period from 7 August 2023 to 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

655

655

At 31 August 2024

655

655

Depreciation

Charge for the period

55

55

At 31 August 2024

55

55

Carrying amount

At 31 August 2024

600

600

5

Stocks

2024
£

Other stocks

399,281

6

Debtors

2024
£

Trade debtors

211,821

Other debtors

1,824

Total current trade and other debtors

213,645

7

Creditors

2024
£

Due within one year

Trade creditors

604,395

Taxation and social security

27,148

Other creditors

4,229

Accrued expenses

1,300

637,072

 

Nanosun Solar Limited
(Registration number: 15053517)

Notes to the Unaudited Financial Statements for the Period from 7 August 2023 to 31 August 2024

8

Parent and ultimate parent undertaking

At 7 August 2023, the company's ultimate parent company was Nanosun DMCC. The registered office of the ultimate parent is: JBC 3 Floor 32, Uptown Tower - 11th Floor - Jumeirah Lake Towers - Dubai - United Arab Emirates.

 The company's immediate parent is Nanosun DMCC, incorporated in United Arab Emirates.