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REGISTERED NUMBER: 12372618 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Solstice Distribution Limited

Solstice Distribution Limited (Registered number: 12372618)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Solstice Distribution Limited

Company Information
for the year ended 31 May 2024







Directors: A R Hunt
P J Midwood
M J Tulip





Registered office: Tewkesbury Business Park
Unit 11, Shannon Way
Tewkesbury
GL20 8ND





Registered number: 12372618 (England and Wales)





Accountants: Acre Accountancy Limited
Unit 2 Foley Works
Foley Industrial Estate
Hereford
Herefordshire
HR1 2SF

Solstice Distribution Limited (Registered number: 12372618)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 191,472 185,823

CURRENT ASSETS
Stocks 2,901,397 1,867,352
Debtors 5 3,265,943 2,475,276
Cash at bank 67,982 409,430
6,235,322 4,752,058
CREDITORS
Amounts falling due within one year 6 (4,490,330 ) (3,603,808 )
NET CURRENT ASSETS 1,744,992 1,148,250
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,936,464

1,334,073

CREDITORS
Amounts falling due after more than one
year

7

(3,860

)

(14,776

)

PROVISIONS FOR LIABILITIES (38,520 ) (36,511 )
NET ASSETS 1,894,084 1,282,786

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,893,084 1,281,786
SHAREHOLDERS' FUNDS 1,894,084 1,282,786

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Solstice Distribution Limited (Registered number: 12372618)

Balance Sheet - continued
31 May 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2025 and were signed on its behalf by:





A R Hunt - Director


Solstice Distribution Limited (Registered number: 12372618)

Notes to the Financial Statements
for the year ended 31 May 2024


1. STATUTORY INFORMATION

Solstice Distribution 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.

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.
Fixtures, office and computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement. They are classified as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Solstice Distribution Limited (Registered number: 12372618)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


2. ACCOUNTING POLICIES - continued

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.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 June 2023 216,339
Additions 62,011
At 31 May 2024 278,350
Depreciation
At 1 June 2023 30,516
Charge for year 56,362
At 31 May 2024 86,878
Net book value
At 31 May 2024 191,472
At 31 May 2023 185,823

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,008,566 830,908
Amounts owed by group undertakings - 318,997
Other debtors 1,257,377 1,325,371
3,265,943 2,475,276

Solstice Distribution Limited (Registered number: 12372618)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 10,915 9,917
Invoice discounting finance 997,282 556,230
Trade creditors 2,313,157 1,610,745
Amounts owed to group undertakings 263,343 -
Taxation and social security 284,946 105,084
Other creditors 620,687 1,321,832
4,490,330 3,603,808

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 3,860 14,776

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 10,915 9,917
Between one and five years 3,860 14,776
14,775 24,693

Non-cancellable operating leases
2024 2023
£    £   
Within one year 174,948 165,422
Between one and five years 839,302 879,250
In more than five years 281,250 416,250
1,295,500 1,460,922

9. SECURED DEBTS

The trade debtors are provided as security for the company's borrowing under a confidential invoice discounting
facility.

10. ULTIMATE CONTROLLING PARTY

Solstice Distribution Limited is a 100% subsidiary of Ecliptic Holdings Limited, a company incorporated in the United Kingdom.