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REGISTERED NUMBER: 01937672 (England and Wales)














Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 August 2024

for

Solutions PT Limited

Solutions PT Limited (Registered number: 01937672)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Profit and Loss Account 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


Solutions PT Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: J E Bailey
Mrs C Bailey





SECRETARY: Oakwood Corporate Secretary Limited





REGISTERED OFFICE: Unit 1 Oakfield Road
Cheadle Royal Business Park
Cheadle
Cheshire
SK8 3GX





REGISTERED NUMBER: 01937672 (England and Wales)





AUDITORS: Thompson Wright Limited
Chartered Accountants
and Statutory Auditors
Ebenezer House
Ryecroft
Newcastle under Lyme
Staffordshire
ST5 2BE

Solutions PT Limited (Registered number: 01937672)

Strategic Report
for the Year Ended 31 August 2024

The directors present their strategic report for the year ended 31 August 2024.

REVIEW OF BUSINESS
Revenue growth was modest at 2% as project activity in our customer base was limited. Strong customer relationships, built on high levels of customer care has helped to improve gross margin as we have experienced higher demand for our own delivered services. This together with a tight control on overheads has helped to deliver an 80% improvement in operating profits. We continue to invest in market development activities ensuring we are addressing our customers evolving needs.

Management use a range of performance measures to monitor and manage the business, including:

Financial key performance indicators

2024 2023
Gross profit margin 46.08% 43.25%
Net profit margin 8.96% 5.12%
Debtor days 38 57
Creditor days 32 28
Stock turnover days 2 2

Non financial key performance indicators

- Customer satisfaction - measured using Net Promoter score
- Employee engagement - measured through Investors in People and Best Companies Survey
- Sales effectiveness - various customer, market and sales performance measures
- Business mix - percentage of annuity business; percentage of non-Aveva business.

PRINCIPAL RISKS AND UNCERTAINTIES
Management continually monitor the key risks facing the business such as: economic indicators, competitor
pressure, reliance on key suppliers, loss of key personnel, and reliance on key customers.

Economic indicators - the company acknowledges the importance of monitoring the economic climate to be able to identify the early signs of potential financial difficulties and opportunities. This is done in a number of ways including maintaining close relationships with our customers, system integrators and suppliers to share knowledge of our markets, whilst taking input from our relationships with Industry bodies and professional advisors, together with attendance at economic forum events.

Competitor pressure - the market in which the company operates is competitive. The company aims to combine its deep knowledge of the industrial environment with a blend of market leading products and services together with great customer service to build and maintain strong relationships with its key customers.

Reliance on key suppliers - the company has had an established relationship with its principal supplier since
1991. The importance of this relationship within the organisation is well understood and the company actively
manages this relationship to ensure goals, objectives, and success for both parties are achieved. We have recently signed a new agreement with the principal supplier, becoming an Aveva Select Partner, giving us access to a larger portfolio of products. Management is also focussed on growing other parts of the business to compliment the offerings from our principal supplier.

Loss of key personnel - this would present significant operational difficulties for the company. Management seek to ensure that key personnel are appropriately motivated and rewarded to ensure that good performance is recognised.

Reliance on key customers - the company monitors the amount of revenue per customer to ensure that it is not over reliant on any one customer. The breadth of sectors within which the company operates helps to mitigate its exposure to individual customers.


Solutions PT Limited (Registered number: 01937672)

Strategic Report
for the Year Ended 31 August 2024

FUTURE DEVELOPMENTS
Solutions PT Limited will pursue its goal of being a leading player in the convergence of Information and Operational Technology, bringing the benefits of the IT world to the industrial world. Our development plans include extending our SCADA expertise by broadening our product offering and extending our market reach through partner collaboration and to the new markets of Industrial digitalisation.

We will further support our customers by developing a portfolio of managed services allowing our customers to minimise the risks in managing their Industrial IT infrastructures.

ON BEHALF OF THE BOARD:





J E Bailey - Director


13 December 2024

Solutions PT Limited (Registered number: 01937672)

Report of the Directors
for the Year Ended 31 August 2024

The directors present their report with the financial statements of the company for the year ended 31 August 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the provision of digital transformation solutions and services for the industrial world, in particular the manufacturing and infrastructure sectors.

DIVIDENDS
The total distribution of dividends for the year ended 31 August 2024 will be £ 6,162,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

J E Bailey
Mrs C Bailey

DISCLOSURE IN THE STRATEGIC REPORT
Future developments and principal risks and uncertainties are disclosed in the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Thompson Wright Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J E Bailey - Director


13 December 2024

Report of the Independent Auditors to the Members of
Solutions PT Limited

Opinion
We have audited the financial statements of Solutions PT Limited (the 'company') for the year ended 31 August 2024 which comprise the Profit and Loss Account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 August 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Solutions PT Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Solutions PT Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the Senior Statutory Auditor ensured that the audit team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the IT industry sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental consumer rights act, other industry specific accreditations and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.


Report of the Independent Auditors to the Members of
Solutions PT Limited

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Jeremy Bostock FCA BFP BA(Hons) (Senior Statutory Auditor)
for and on behalf of Thompson Wright Limited
Chartered Accountants
and Statutory Auditors
Ebenezer House
Ryecroft
Newcastle under Lyme
Staffordshire
ST5 2BE

13 December 2024

Solutions PT Limited (Registered number: 01937672)

Profit and Loss Account
for the Year Ended 31 August 2024

2024 2023
Notes £    £   

TURNOVER 3 19,151,111 18,832,257

Cost of sales 10,325,740 10,686,631
GROSS PROFIT 8,825,371 8,145,626

Administrative expenses 7,227,504 7,241,519
OPERATING PROFIT 5 1,597,867 904,107

Interest receivable and similar income 118,161 59,589
1,716,028 963,696

Interest payable and similar expenses 6 596 -
PROFIT BEFORE TAXATION 1,715,432 963,696

Tax on profit 7 195,956 15,439
PROFIT FOR THE FINANCIAL YEAR 1,519,476 948,257

Solutions PT Limited (Registered number: 01937672)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 9 313,316 293,630

CURRENT ASSETS
Stocks 10 20,079 71,872
Debtors 11 4,474,032 11,530,828
Cash at bank and in hand 5,256,196 2,361,008
9,750,307 13,963,708
CREDITORS
Amounts falling due within one year 12 6,299,829 5,856,599
NET CURRENT ASSETS 3,450,478 8,107,109
TOTAL ASSETS LESS CURRENT LIABILITIES 3,763,794 8,400,739

PROVISIONS FOR LIABILITIES 14 62,511 56,932
NET ASSETS 3,701,283 8,343,807

CAPITAL AND RESERVES
Called up share capital 15 5,000 5,000
Retained earnings 16 3,696,283 8,338,807
SHAREHOLDERS' FUNDS 3,701,283 8,343,807

The financial statements were approved by the Board of Directors and authorised for issue on 13 December 2024 and were signed on its behalf by:





J E Bailey - Director


Solutions PT Limited (Registered number: 01937672)

Statement of Changes in Equity
for the Year Ended 31 August 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 5,000 7,480,550 7,485,550

Changes in equity
Dividends - (90,000 ) (90,000 )
Total comprehensive income - 948,257 948,257
Balance at 31 August 2023 5,000 8,338,807 8,343,807

Changes in equity
Dividends - (6,162,000 ) (6,162,000 )
Total comprehensive income - 1,519,476 1,519,476
Balance at 31 August 2024 5,000 3,696,283 3,701,283

Solutions PT Limited (Registered number: 01937672)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Solutions PT 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirement of paragraph 33.7.

This information is included in the consolidated financial statements of Pantek Limited as at 31st August 2024. The consolidated financial statements are available on request from the registered office.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
The critical judgments that the directors have made in the process of applying the company's accounting policies and key sources of estimation uncertainty that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below.

Key judgements

Key sources of estimation uncertainty
The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Solutions PT Limited (Registered number: 01937672)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and the company retains no ownership or effective control over the goods sold.

Long term licensing contracts
Revenue from licensing contracts is calculated as the proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

Long term support contracts
Long term support contract revenue is recognised on a straight line basis over the period of the contract.

Recoverability of trade debtors
The company establishes a provision for trade debtors that are estimated not to be recoverable. When assessing recoverability the directors consider factors such as the aging of the trade debtors, past experience of recoverability and the credit profile of individual or groups of customers.

Assessing indicators of impairment
In assessing whether there have been any indicators of impairment of assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience of recoverability. There have been no indicators of impairments identified during the current financial year.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as described below.

Fixtures and fittings - 10-100% straight line
Computer equipment - 20-100% straight line

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Determining residual values of tangible assets
Judgement is applied by management when determining the residual values for fixed assets. When determining the residual value management aim to assess the amount that the company would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices.

Estimated useful life of tangible assets
The company depreciates tangible assets over their estimated useful lives. The estimation of the useful lives of tangible assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.

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

Solutions PT Limited (Registered number: 01937672)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' ans Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

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.

Solutions PT Limited (Registered number: 01937672)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

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.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
United Kingdom 15,156,554 14,985,671
Overseas 3,994,557 3,846,586
19,151,111 18,832,257

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 4,993,311 4,993,955
Social security costs 565,418 615,145
Other pension costs 657,019 579,483
6,215,748 6,188,583

The average number of employees during the year was as follows:
2024 2023

Administrative staff 16 15
Sales and technical staff 77 81
93 96

2024 2023
£    £   
Directors' remuneration 50,000 50,000

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 1,704 1,954
Other operating leases 548,201 535,486
Depreciation - owned assets 75,903 76,366
Loss on disposal of fixed assets - 2,900
Auditors' remuneration 16,595 15,805
Auditors' remuneration for non audit work 11,000 14,222

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 596 -

Solutions PT Limited (Registered number: 01937672)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 200,686 -
Adjustments in respect of previous periods (10,309 ) (8,833 )
Total current tax 190,377 (8,833 )

Deferred tax 5,579 24,272
Tax on profit 195,956 15,439

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,715,432 963,696
Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 -
19%)

428,858

183,102

Effects of:
Expenses not deductible for tax purposes 2,586 10,022
Capital allowances in excess of depreciation (36 ) -
Depreciation in excess of capital allowances - 11,569
Adjustments to tax charge in respect of previous periods (10,309 ) (8,833 )
Group loss relief (225,143 ) (180,421 )
Total tax charge 195,956 15,439

8. DIVIDENDS
2024 2023
£    £   
Interim 6,162,000 90,000

Solutions PT Limited (Registered number: 01937672)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

9. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2023 493,695 333,778 827,473
Additions 38,160 57,429 95,589
At 31 August 2024 531,855 391,207 923,062
DEPRECIATION
At 1 September 2023 313,305 220,538 533,843
Charge for year 21,687 54,216 75,903
At 31 August 2024 334,992 274,754 609,746
NET BOOK VALUE
At 31 August 2024 196,863 116,453 313,316
At 31 August 2023 180,390 113,240 293,630

10. STOCKS
2024 2023
£    £   
Stocks 20,079 71,872

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,013,041 2,948,808
Amounts owed by group undertakings 2,185,488 8,202,154
Other debtors 3,898 -
Directors' current accounts - 100,007
Prepayments 271,605 279,859
4,474,032 11,530,828

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 916,149 820,224
Amounts owed to group undertakings 33,320 11,600
Tax 200,685 -
Social security and other taxes 615,165 568,001
Other creditors 282,882 235,848
Accruals and deferred income 4,251,628 4,220,926
6,299,829 5,856,599

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 350,180 66,545
Between one and five years 123,833 43,962
474,013 110,507

Solutions PT Limited (Registered number: 01937672)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

14. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 75,364 69,571
Other timing differences (12,853 ) (12,639 )
62,511 56,932

Deferred
tax
£   
Balance at 1 September 2023 56,932
Charge to Profit and Loss Account during year 5,793
Other timing differences (214 )
Balance at 31 August 2024 62,511

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5,000 Ordinary £1 5,000 5,000

16. RESERVES
Retained
earnings
£   

At 1 September 2023 8,338,807
Profit for the year 1,519,476
Dividends (6,162,000 )
At 31 August 2024 3,696,283

17. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - 40,000

18. OTHER FINANCIAL COMMITMENTS

As at 31st August 2024, the company had forward exchange contracts in place to purchase USD $3,000,000 (2023 $1,025,000) and sell $NIL (2023 $NIL).

As at 31st August 2024, the company had forward exchange contracts in place to purchase Euro €NIL (2023 €NIL) and sell €NIL (2023 €NIL).

A debenture by Barclays Bank Plc is held which is secured as a fixed charge over the property and assets present and future which includes goodwill, book debts, uncalled capital, buildings, fixtures, plant & machinery.

Solutions PT Limited (Registered number: 01937672)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
J E Bailey
Balance outstanding at start of year 100,000 -
Amounts advanced - 100,000
Amounts repaid (100,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 100,000

20. RELATED PARTY DISCLOSURES

During the year, the company rented premises from a trust fund at an open market rate. The trust fund was established by John Bailey on 06/04/2023. The amount charged during the year in respect of rent was £283,433 (2023: £117,585).

During the year, the company rented premises from Mr J Bailey at an open market rate up until 06/04/2023 when the building was transferred to the trust. The amount charged during the year in respect of rent was £NIL (2023: £167,468).

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year, a total of key management personnel compensation of £ 406,226 (2023 - £ 379,496 ) was paid.

21. ULTIMATE CONTROLLING PARTY

The parent company and controlling party is Pantek Limited, a company registered in England and Wales. A copy of the consolidated financial statements are available from Unit 1 Oakfield Road, Cheadle Royal business Park, Cheadle, Cheshire, SK8 3GX.

The ultimate controlling parties are the directors/shareholders of Pantek Limited.