| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| SOLVING LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| SOLVING LIMITED |
| SOLVING LIMITED (REGISTERED NUMBER: 03532532) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| For The Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| SOLVING LIMITED |
| COMPANY INFORMATION |
| For The Year Ended 31 December 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Certified Accountants |
| 1 Carnegie Road |
| Newbury |
| Berkshire |
| RG14 5DJ |
| SOLVING LIMITED (REGISTERED NUMBER: 03532532) |
| BALANCE SHEET |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| SOLVING LIMITED (REGISTERED NUMBER: 03532532) |
| NOTES TO THE FINANCIAL STATEMENTS |
| For The Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| Solving Limited is a private company, limited by shares, registered in England and Wales. The Company's registered number is 03532532 and its registered office is 1 Carnegie Road, Newbury, Berkshire, United Kingdom, RG14 5DJ. |
| The Company's principal place of business is Bennäsvägen 181, 68600 Jakobstad, Finland. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts included in these financial statements are rounded to the nearest £. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| The revenue recognition policy is to recognise sales once goods have been dispatched from the port of origin, representing the transfer of the rights of ownership to the customer. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Depreciation is provided at appropriate annual rates in order to write off each asset over its estimated useful life. |
| Financial instruments |
| Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. |
| At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. |
| Impairment of financial assets |
| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
| Derecognition of financial assets |
| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled; or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party; or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
| SOLVING LIMITED (REGISTERED NUMBER: 03532532) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial liabilities |
| Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Trade payables 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 payment is due within one year or less. If not, they are presented as noncurrent liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
| Derecognition of financial liabilities |
| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Prepayments and accrued income |
| SOLVING LIMITED (REGISTERED NUMBER: 03532532) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 December 2024 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| VAT | 59,070 | 24,289 |
| Other creditors |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary shares | 1 | 20,000 | 20,000 |
| 7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 8. | RELATED PARTY DISCLOSURES |
| During the year ended 31 December 2024 transactions occurred between Solving Limited and its parent company, Ab Solving Oy. |
| Solving Limited purchased goods from Ab Solving Oy, during the year, amounting to £719,117 (2023: £547,640). |
| Solving Limited made sales to Ab Solving Oy, during the year, amounting to £5,450 (2023: £14,090). |
| At the balance sheet date Solving Limited owed £56,497 (2023: £31,902) to Ab Solving Oy and conversely was owed £nil (2023: £64) by Ab Solving Oy. |
| 9. | ULTIMATE CONTROLLING PARTY |
| The ultimate parent company is AB Solving Oy, a Finnish registered company, registered at Bennäsvägen 181, 68600 Jakobstad, Finland in which the director, M E Helala, has a beneficial interest of 17% (2023: 17%) of the issued share capital and the director, A M Bjork has a beneficial interest in 10% (2023: 10%) of the issued share capital. |