Devon Solar Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 6

Devon Solar Limited

(Registration number: 14089014)
Statement of Financial Position as at 30 April 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	5,784	6,827
Current assets
Debtors	5	22,708	73,551
Cash at bank and in hand		8,899	12,219
		31,607	85,770
Creditors: Amounts falling due within one year	6	(11,940)	(45,765)
Net current assets		19,667	40,005
Total assets less current liabilities		25,451	46,832
Provisions for liabilities		(1,446)	(1,297)
Net assets		24,005	45,535
Capital and reserves
Called up share capital		1	1
Profit and loss account		24,004	45,534
Shareholders' funds		24,005	45,535

For the financial year ending 30 April 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 year in question in accordance with section 476; and
•	The director acknowledges his 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 director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 4 April 2025
 

Mr M D Hutchings Director

Devon Solar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
63 Chichester Park
Woolacombe
Devon
EX34 7BZ

Principal activity

The principal activity of the company is installation of solar panels.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Devon Solar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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 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 tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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	8 years straight line
Fixtures and fittings	4 years straight line

Devon Solar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2	Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

Devon Solar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Total £
Cost or valuation
At 1 May 2023	471	7,399	7,870
At 30 April 2024	471	7,399	7,870
Depreciation
At 1 May 2023	118	925	1,043
Charge for the year	118	925	1,043
At 30 April 2024	236	1,850	2,086
Carrying amount
At 30 April 2024	235	5,549	5,784
At 30 April 2023	353	6,474	6,827

5

Debtors

	Note	2024 £	2023 £
Trade debtors		150	35,195
Other debtors		16,973	37,392
Prepayments		886	964
Income tax asset		4,699	-
		22,708	73,551

Devon Solar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	8,442	31,918
Taxation and social security	2,298	12,712
Accruals and deferred income	1,200	1,135
	11,940	45,765

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8	Related party transactions

Transactions with the director

2024	At 1 May 2023 £	Advances to director £	At 30 April 2024 £
	-	14,847	14,847

The loan is interest free and repayable on demand.