5 4 Solerco Products Limited 01253038 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is selling food stuff and related items. Digita Accounts Production Advanced 6.30.9574.0 true 01253038 2024-01-01 2024-12-31 01253038 2024-12-31 01253038 core:RetainedEarningsAccumulatedLosses 2024-12-31 01253038 core:ShareCapital 2024-12-31 01253038 core:CurrentFinancialInstruments 2024-12-31 01253038 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 01253038 core:FurnitureFittingsToolsEquipment 2024-12-31 01253038 core:LandBuildings 2024-12-31 01253038 bus:SmallEntities 2024-01-01 2024-12-31 01253038 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 01253038 bus:FilletedAccounts 2024-01-01 2024-12-31 01253038 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 01253038 bus:RegisteredOffice 2024-01-01 2024-12-31 01253038 bus:Director1 2024-01-01 2024-12-31 01253038 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01253038 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 01253038 core:LandBuildings 2024-01-01 2024-12-31 01253038 countries:England 2024-01-01 2024-12-31 01253038 2023-12-31 01253038 core:FurnitureFittingsToolsEquipment 2023-12-31 01253038 core:LandBuildings 2023-12-31 01253038 2023-01-01 2023-12-31 01253038 2023-12-31 01253038 core:RetainedEarningsAccumulatedLosses 2023-12-31 01253038 core:ShareCapital 2023-12-31 01253038 core:CurrentFinancialInstruments 2023-12-31 01253038 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 01253038 core:FurnitureFittingsToolsEquipment 2023-12-31 01253038 core:LandBuildings 2023-12-31 xbrli:pure iso4217:GBP

Registration number: 01253038

Solerco Products Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Solerco Products Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Solerco Products Limited

(Registration number: 01253038)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

101,309

101,774

Current assets

 

Stocks

5

125,343

121,444

Debtors

6

34,534

38,781

Cash at bank and in hand

 

277,165

267,224

 

437,042

427,449

Creditors: Amounts falling due within one year

7

(17,997)

(30,912)

Net current assets

 

419,045

396,537

Total assets less current liabilities

 

520,354

498,311

Provisions for liabilities

(659)

(775)

Net assets

 

519,695

497,536

Capital and reserves

 

Called up share capital

10,000

10,000

Retained earnings

509,695

487,536

Shareholders' funds

 

519,695

497,536

 

Solerco Products Limited

(Registration number: 01253038)
Statement of Financial Position as at 31 December 2024

For the financial year ending 31 December 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 her 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 Income Statement.

Approved and authorised by the director on 24 April 2025
 

.........................................
Mrs J Capaldi
Director

   
     
 

Solerco Products Limited

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

1

General information

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

The address of its registered office is:
Unit 6, Bramhall Moor Technology Park
Hazel Grove
Stockport
SK7 5BW

These financial statements were authorised for issue by the director on 24 April 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.

Government grants

Government grants are included in the profit and loss account on the accruals basis.

 

Solerco Products Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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

Fixtures, fittings and equipment

15% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the income statement.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 4).

 

Solerco Products Limited

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

4

Tangible assets

Land and buildings
£

Plant, Furniture & Fittings
 £

Total
£

Cost or valuation

At 1 January 2024

165,276

49,420

214,696

At 31 December 2024

165,276

49,420

214,696

Depreciation

At 1 January 2024

66,603

46,319

112,922

Charge for the year

-

465

465

At 31 December 2024

66,603

46,784

113,387

Carrying amount

At 31 December 2024

98,673

2,636

101,309

At 31 December 2023

98,673

3,101

101,774

Included within the net book value of land and buildings above is £98,673 (2023 - £98,673) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

125,343

121,444

6

Debtors

Current

2024
£

2023
£

Trade debtors

23,987

29,128

Prepayments

4,359

4,083

Other debtors

6,188

5,570

 

34,534

38,781

 

Solerco Products Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,856

9,242

Taxation and social security

5,533

4,521

Accruals and deferred income

9,608

17,149

17,997

30,912