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REGISTERED NUMBER: 07768426 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Solsoft Group Limited

Solsoft Group Limited (Registered number: 07768426)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Solsoft Group Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: M D Ralston
L J Ralston
N A Farnworth
I V Clark
C W A Madders





REGISTERED OFFICE: St Brandons House Suite 34
27-29 Great George Street
Bristol
BS1 5QT





REGISTERED NUMBER: 07768426 (England and Wales)





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

Solsoft Group Limited (Registered number: 07768426)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 1,207 1,897
Tangible assets 5 10,326 10,908
11,533 12,805

CURRENT ASSETS
Debtors 6 261,267 445,517
Cash at bank and in hand 543,481 407,336
804,748 852,853
CREDITORS
Amounts falling due within one year 7 679,648 704,462
NET CURRENT ASSETS 125,100 148,391
TOTAL ASSETS LESS CURRENT LIABILITIES 136,633 161,196

CREDITORS
Amounts falling due after more than one
year

8

(28,934

)

(78,533

)

PROVISIONS FOR LIABILITIES (3,336 ) (3,574 )
NET ASSETS 104,363 79,089

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 104,362 79,088
104,363 79,089

Solsoft Group Limited (Registered number: 07768426)

Balance Sheet - continued
31 December 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:





M D Ralston - Director


Solsoft Group Limited (Registered number: 07768426)

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

1. STATUTORY INFORMATION

Solsoft Group 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There have been no material departures from the Financial Reporting Standard 102 1A.

Group accounts not prepared
The financial statements contain information about Solsoft Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. It is recognised in the profit and loss account only when the company has met its contractual obligations and therefore earned the right to consideration.

Turnover from hardware and software sales is recognised on installation. Turnover from consultancy is recognised once the service has been provided. Turnover from computer support is recognised evenly over the period of support.

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.

Other intangible assets are being amortised evenly over their estimated useful life of three years.

Solsoft Group Limited (Registered number: 07768426)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed 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 is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements- 20% on cost
Fixtures, fittings & equipment- 33% on cost and 25% on cost

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.

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.

Solsoft Group Limited (Registered number: 07768426)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 2,070
AMORTISATION
At 1 January 2024 173
Charge for year 690
At 31 December 2024 863
NET BOOK VALUE
At 31 December 2024 1,207
At 31 December 2023 1,897

Solsoft Group Limited (Registered number: 07768426)

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

5. TANGIBLE FIXED ASSETS
Fixtures,
Leasehold fittings
improvements & equipment Totals
£    £    £   
COST
At 1 January 2024 4,523 84,124 88,647
Additions - 6,452 6,452
Disposals (4,523 ) (43,969 ) (48,492 )
At 31 December 2024 - 46,607 46,607
DEPRECIATION
At 1 January 2024 4,523 73,216 77,739
Charge for year - 6,568 6,568
Eliminated on disposal (4,523 ) (43,503 ) (48,026 )
At 31 December 2024 - 36,281 36,281
NET BOOK VALUE
At 31 December 2024 - 10,326 10,326
At 31 December 2023 - 10,908 10,908

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 77,227 214,229
Other debtors 184,040 231,288
261,267 445,517

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 49,600 49,600
Trade creditors 66,184 65,009
Taxation and social security 252,062 221,763
Other creditors 311,802 368,090
679,648 704,462

Solsoft Group Limited (Registered number: 07768426)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans 28,934 78,533

Included in bank loans in notes 7 and 8 is a combined balance of £78,534 (2023 - £128,133) which is unsecured and guaranteed by the government.

9. PENSION COMMITMENTS

Included in the balance sheet are pensions payable of £3,736 (2023 - £3,449). The company participates in a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

10. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, including finance lease agreements not included in the balance sheet is £14,631 (2023 - £42,655).

11. RELATED PARTY DISCLOSURES

Loans from related parties



Key
management


Total
2024 £ £
At start of period 1,238 1,238
Advanced 273,224 273,224
Repaid (240,600 ) (240,600 )
At end of period 33,862 33,862


Key
management


Total
2023 £ £
At start of period 38,675 38,675
Advanced 348,235 348,235
Repaid (385,672 ) (385,672 )
At end of period 1,238 1,238

The loans from key management are interest free and repayable on demand.

Solsoft Group Limited (Registered number: 07768426)

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

12. SUMMARY OF TRANSACTIONS WITH OTHER RELATED PARTIES

During the period the following transactions occured between Solsoft Group Limited, Cyber Tec Security Ltd, Cyber Tec Security Ltd (Jersey) and RGC (ENG) Limited:

Purchases of £Nil (2023 - £240) recharged from RGC (ENG) Limited, and £2,140 (2023 - £998) recharged to RGC (ENG) Limited.

Solsoft Group Limited acquired a trade during the year from RGC (ENG) Limited for £Nil (2023 - £2,070).

Purchases of £Nil (2023 - £163) recharged from Cyber Tec Security Ltd.

Expenses of £10,000 (2023 - £21,360) recharged from Cyber Tec Security Ltd and £3,911 (2023 - £39,040) recharged to Cyber Tec Security Ltd.

Purchases of £31,935 (2023 - £56,913) recharged from Cyber Tec Security Ltd (Jersey).

Expenses of £5,917 (2023 - £19,693) recharged to Cyber Tec Security Ltd (Jersey).

Sales of £18,271 (2023 - £12,239) were raised to Cyber Tec Security Ltd (Jersey).

Included within other debtors is a loan balance due from RGC (ENG) Limited of £2,568 (2023 - £11,886), which is repayable on demand.

Included within other debtors is a loan balance of £76,527 (2023 - £114,699) due from Cyber Tec Security Ltd.

Included within trade creditors is a balance of £Nil (2023 - £Nil), and a recharge balance of £Nil (2023 - £Nil) due to Cyber Tec Security Ltd.

Included within debtors is a trade debtors balance of £Nil (2023 - £17), and a recharge balance of £Nil (2023 - £Nil) due from Cyber Tec Security Ltd (Jersey).

Included within trade creditors is a balance of £Nil (2023 - £Nil) due to Cyber Tec Security Ltd (Jersey).

M Ralston and L Ralston are directors of Solsoft Group Limited, Cyber Tec Security Ltd, Cyber Tec Security Ltd (Jersey) and RGC (ENG) Limited.