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REGISTERED NUMBER: 02604576 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Solowise Limited

Solowise Limited (Registered number: 02604576)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Solowise Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: C M Ball
S R Ball





REGISTERED OFFICE: 71-73 Mill Lane
London
NW6 1NB





REGISTERED NUMBER: 02604576 (England and Wales)





ACCOUNTANTS: Thornton Springer LLP
Chartered Accountants
67 Westow Street
London
SE19 3RW

Solowise Limited (Registered number: 02604576)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 293,893 272,615

CURRENT ASSETS
Stocks 15,001 17,694
Debtors 6 98,445 12,883
Cash at bank 56,009 113,907
169,455 144,484
CREDITORS
Amounts falling due within one year 7 519,085 262,819
NET CURRENT LIABILITIES (349,630 ) (118,335 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(55,737

)

154,280

CREDITORS
Amounts falling due after more than one
year

8

11,938

211,000
NET LIABILITIES (67,675 ) (56,720 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 (67,775 ) (56,820 )
SHAREHOLDERS' FUNDS (67,675 ) (56,720 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Solowise Limited (Registered number: 02604576)

Balance Sheet - continued
30 April 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 14 February 2025 and were signed on its behalf by:





S R Ball - Director


Solowise Limited (Registered number: 02604576)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Solowise 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.
Plant and machinery etc - 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.

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.

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.

Solowise Limited (Registered number: 02604576)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. ACCOUNTING POLICIES - continued

Going concern
The balance sheet shows net liabilities of £67,775 (2023 - £56,820). The directors of Solowise Limited have reasonable expectations that the company will be able to make sufficient profits to enable it to operate for the foreseeable future, in addition to the continued support and funding of the directors. These financial statements have therefore been prepared on a going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 233,854 55,347 47,100 8,578 344,879
Additions 21,133 11,549 - 1,565 34,247
At 30 April 2024 254,987 66,896 47,100 10,143 379,126
DEPRECIATION
At 1 May 2023 - 47,508 19,640 5,116 72,264
Charge for year - 4,847 6,865 1,257 12,969
At 30 April 2024 - 52,355 26,505 6,373 85,233
NET BOOK VALUE
At 30 April 2024 254,987 14,541 20,595 3,770 293,893
At 30 April 2023 233,854 7,839 27,460 3,462 272,615

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 98,445 12,883

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts - 81,077
Hire purchase contracts 3,949 3,949
Trade creditors 36,327 46,328
Taxation and social security 37,017 23,710
Other creditors 441,792 107,755
519,085 262,819

Solowise Limited (Registered number: 02604576)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans - 195,113
Hire purchase contracts 11,938 15,887
11,938 211,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years by instalments - 37,641

9. RESERVES
Retained
earnings
£   

At 1 May 2023 (56,820 )
Deficit for the year (10,955 )
At 30 April 2024 (67,775 )