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Registration number: 07490673

Solar Gen Plus Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Solar Gen Plus Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Solar Gen Plus Limited

Company Information

Directors

Mrs Linda RIGBY

Miss Victoria Jayne Rigby

Mr Thomas Adam Flack

Registered office

4 Croft Court
Whitehills Business Park
Blackpool
Lancashire
FY4 5PR

Accountants

Beckett Rawcliffe Limited Unit 17, Beckett House
Sovereign Court
Wyrefields
Poulton Le Fylde
Lancashire
FY6 8JX

 

Solar Gen Plus Limited

(Registration number: 07490673)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

78,737

85,165

Current assets

 

Debtors

5

6,657,144

6,547,286

Cash at bank and in hand

 

39,065

38,008

 

6,696,209

6,585,294

Creditors: Amounts falling due within one year

6

(264,546)

(275,218)

Net current assets

 

6,431,663

6,310,076

Total assets less current liabilities

 

6,510,400

6,395,241

Creditors: Amounts falling due after more than one year

6

(6,109,935)

(6,062,454)

Net assets

 

400,465

332,787

Capital and reserves

 

Called up share capital

7

400,000

400,000

Retained earnings

465

(67,213)

Shareholders' funds

 

400,465

332,787

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 March 2025 and signed on its behalf by:
 

.........................................
Mr Thomas Adam Flack
Director

   
     
 

Solar Gen Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
4 Croft Court
Whitehills Business Park
Blackpool
Lancashire
FY4 5PR
England

These financial statements were authorised for issue by the Board on 25 March 2025.

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.

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.

Tax

The tax expense for the period comprises current 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.

 

Solar Gen Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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

Plant and Machinery

4% straight line

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Solar Gen Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Solar Gen Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

160,688

160,688

At 31 March 2024

160,688

160,688

Depreciation

At 1 April 2023

75,523

75,523

Charge for the year

6,428

6,428

At 31 March 2024

81,951

81,951

Carrying amount

At 31 March 2024

78,737

78,737

At 31 March 2023

85,165

85,165

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

22,362

(16,664)

Amounts owed by related parties

9

393,184

288,374

Prepayments

 

3,555

1,705

Other debtors

 

6,238,043

6,273,871

   

6,657,144

6,547,286

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

15,308

15,308

Trade creditors

 

8,101

21,620

Taxation and social security

 

7,242

4,395

Other creditors

 

233,895

233,895

 

264,546

275,218

Creditors: amounts falling due after more than one year

 

Solar Gen Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

22,439

46,451

Other non-current financial liabilities

 

6,087,496

6,016,003

 

6,109,935

6,062,454

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

400,000

400,000

400,000

400,000

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

22,439

46,451

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

15,308

15,308

9

Related party transactions

Summary of transactions with all entities with joint control or significant interest

R-Group of Companies Ltd Inter Company Loan Account

Summary of transactions with other related parties

Estate of WS Rigby

Loans to related parties

 

Solar Gen Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2024

Entities with joint control or significant influence
£

Other related parties
£

Total
£

At start of period

288,354

5,879,661

6,168,015

Advanced

104,830

-

104,830

Repaid

-

(11,407)

(11,407)

At end of period

393,184

5,868,254

6,261,438

2023

Entities with joint control or significant influence
£

Other related parties
£

Total
£

At start of period

1,093,035

257,093

1,350,128

Advanced

-

5,622,568

5,622,568

Repaid

(804,681)

-

(804,681)

At end of period

288,354

5,879,661

6,168,015

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

4,452,039

4,452,039

Advanced

70,919

70,919

At end of period

4,522,958

4,522,958

2023

Other related parties
£

Total
£

Advanced

4,452,039

4,452,039

At end of period

4,452,039

4,452,039

10

Parent and ultimate parent undertaking

The ultimate controlling party is Linda Rigby.