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COMPANY REGISTRATION NUMBER: 09761927
SOLFIX HOME IMPROVEMENTS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 September 2024
SOLFIX HOME IMPROVEMENTS LTD
FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
SOLFIX HOME IMPROVEMENTS LTD
STATEMENT OF FINANCIAL POSITION
30 September 2024
2024
2023
Note
£
£
£
Current assets
Stocks
4,275
12,065
Debtors
5
4,823
48,443
Cash at bank and in hand
27,971
1,924
--------
--------
37,069
62,432
Creditors: amounts falling due within one year
6
26,044
52,477
--------
--------
Net current assets
11,025
9,955
--------
-------
Total assets less current liabilities
11,025
9,955
Creditors: amounts falling due after more than one year
7
6,387
6,946
--------
-------
Net assets
4,638
3,009
--------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
4,637
3,008
-------
-------
Shareholder funds
4,638
3,009
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SOLFIX HOME IMPROVEMENTS LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 9 June 2025 , and are signed on behalf of the board by:
I T Moran
Director
Company registration number: 09761927
SOLFIX HOME IMPROVEMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Alex house, 260-268 Chapel Street, Salford, M3 5JZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Written off over 3 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Intangible assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
3,000
-------
Amortisation
At 1 October 2023 and 30 September 2024
3,000
-------
Carrying amount
At 30 September 2024
-------
At 30 September 2023
-------
5. Debtors
2024
2023
£
£
Trade debtors
4,823
1,278
Other debtors
47,165
-------
--------
4,823
48,443
-------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,274
4,031
Trade creditors
3,052
1,666
Social security and other taxes
5,627
2,893
Other creditors
16,091
43,887
--------
--------
26,044
52,477
--------
--------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
6,387
6,946
-------
-------
8. Director's advances, credits and guarantees
2024 2023
£ £
Director loan accounts 400 1,650
---- -------
No interest has been charged to the company in respect of the loan which is repayable on demand and classified within creditors falling due within one year.
9. Related party transactions
The company was under the control of I T Moran during the year. I T Moran is the managing director.