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Company Registration No. 05816689 (England and Wales)
Solar Gates UK Ltd Unaudited accounts for the year ended 31 May 2024
Solar Gates UK Ltd Unaudited accounts Contents
Page
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Solar Gates UK Ltd Company Information for the year ended 31 May 2024
Directors
Mr Neil Sampson Mr Christopher Long Mr Steven Billot
Company Number
05816689 (England and Wales)
Registered Office
The Packhouse Heath Road Boughton Monchelsea Maidstone ME17 4JB
Accountants
Rustrick Accountants Limited 380A New Hythe lane Larkfield Maidstone Kent ME20 6RZ
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Solar Gates UK Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
388,501 
262,126 
Current assets
Inventories
485,121 
381,052 
Debtors
346,239 
716,667 
Cash at bank and in hand
250,841 
201,005 
1,082,201 
1,298,724 
Creditors: amounts falling due within one year
(346,594)
(609,340)
Net current assets
735,607 
689,384 
Total assets less current liabilities
1,124,108 
951,510 
Creditors: amounts falling due after more than one year
(10,000)
(21,063)
Provisions for liabilities
Deferred tax
(97,125)
(65,531)
Net assets
1,016,983 
864,916 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,016,883 
864,816 
Shareholders' funds
1,016,983 
864,916 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by
Mr Neil Sampson Director Company Registration No. 05816689
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Solar Gates UK Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Solar Gates UK Ltd is a private company, limited by shares, registered in England and Wales, registration number 05816689. The registered office is The Packhouse, Heath Road, Boughton Monchelsea, Maidstone, ME17 4JB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over period of lease
Plant & machinery
15% reducing balance/20% straight line/33% straight line
Motor vehicles
15% reducing balance/25% straight line
Fixtures & fittings
15% reducing balance/33% straight line
Computer equipment
15% reducing balance/33% straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. Work-in-progress is valued at average selling price.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Solar Gates UK Ltd Notes to the Accounts for the year ended 31 May 2024
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 June 2023
3,688 
232,786 
168,831 
12,925 
418,230 
Additions
- 
137,303 
154,082 
34,241 
325,626 
Disposals
- 
(61,819)
(130,753)
- 
(192,572)
At 31 May 2024
3,688 
308,270 
192,160 
47,166 
551,284 
Depreciation
At 1 June 2023
2,765 
90,295 
60,156 
2,888 
156,104 
Charge for the year
185 
53,968 
33,350 
1,649 
89,152 
On disposals
- 
(29,656)
(52,817)
- 
(82,473)
At 31 May 2024
2,950 
114,607 
40,689 
4,537 
162,783 
Net book value
At 31 May 2024
738 
193,663 
151,471 
42,629 
388,501 
At 31 May 2023
923 
142,491 
108,675 
10,037 
262,126 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
9,347 
10,999 
5
Inventories
2024 
2023 
£ 
£ 
Work in progress
72,000 
102,750 
Finished goods
413,121 
278,302 
485,121 
381,052 
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Solar Gates UK Ltd Notes to the Accounts for the year ended 31 May 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
215,501 
643,684 
Accrued income and prepayments
89,217 
33,487 
Other debtors
41,521 
39,496 
346,239 
716,667 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
Obligations under finance leases and hire purchase contracts
1,063 
6,375 
Trade creditors
132,361 
170,232 
Taxes and social security
67,872 
239,654 
Other creditors
3,207 
37,146 
Loans from directors
5,726 
- 
Accruals
34,437 
61,004 
Deferred income
91,928 
84,929 
346,594 
609,340 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
10,000 
20,000 
Obligations under finance leases and hire purchase contracts
- 
1,063 
10,000 
21,063 
9
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
97,125 
65,531 
2024 
2023 
£ 
£ 
Provision at start of year
65,531 
53,419 
Charged to the profit and loss account
31,594 
12,112 
Provision at end of year
97,125 
65,531 
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Solar Gates UK Ltd Notes to the Accounts for the year ended 31 May 2024
11
Capital commitments
2024 
2023 
£ 
£ 
Amounts contracted but not provided for in the accounts
14,700 
- 
12
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 May 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
40,750 
40,750 
Later than one year and not later than five years
67,917 
108,667 
108,667 
149,417 
13
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr Neil Sampson
Loan
9,549 
- 
15,275 
(5,726)
9,549 
- 
15,275 
(5,726)
14
Transactions with related parties
The company has paid £21,863 on behalf of the shareholders in respect of professional fees. As of 31/05/2024 the balance outstanding is £21,863.
15
Average number of employees
During the year the average number of employees was 20 (2023: 20).
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