Company No: 08958810 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	5,856,717		6,355,161
Tangible assets	4	1,547,769		1,679,494
		7,404,486		8,034,655
Current assets
Debtors	5	484,165		459,876
Cash at bank and in hand		320,224		314,295
		804,389		774,171
Creditors: amounts falling due within one year	6	( 396,097)		( 348,603)
Net current assets		408,292		425,568
Total assets less current liabilities		7,812,778		8,460,223
Creditors: amounts falling due after more than one year	7	( 1,440,237)		( 1,716,530)
Provision for liabilities		( 87,676)		( 101,505)
Net assets		6,284,865		6,642,188
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		6,284,765		6,642,088
Total shareholder's funds		6,284,865		6,642,188

For the financial year ending 24 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Sunpower Solar Limited (registered number: 08958810) were approved and authorised for issue by the Board of Directors on 19 June 2025. They were signed on its behalf by:

Mr W Dexter Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sunpower Solar Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hendra Holiday Park, Lane, Newquay, Cornwall, TR8 4NY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

25 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery

25 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 25 September 2023	11,024,763		11,024,763
At 24 September 2024	11,024,763		11,024,763
Accumulated amortisation
At 25 September 2023	4,669,602		4,669,602
Charge for the financial year	498,444		498,444
At 24 September 2024	5,168,046		5,168,046
Net book value
At 24 September 2024	5,856,717		5,856,717
At 24 September 2023	6,355,161		6,355,161

4. Tangible assets

	Plant and machinery		Total
	£		£
Cost
At 25 September 2023	2,843,065		2,843,065
At 24 September 2024	2,843,065		2,843,065
Accumulated depreciation
At 25 September 2023	1,163,571		1,163,571
Charge for the financial year	131,725		131,725
At 24 September 2024	1,295,296		1,295,296
Net book value
At 24 September 2024	1,547,769		1,547,769
At 24 September 2023	1,679,494		1,679,494

5. Debtors

	2024		2023
	£		£
Trade debtors	44,887		102,296
Other debtors	439,278		357,580
	484,165		459,876

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	276,451		259,388
Trade creditors	19,993		17,394
Accruals	14,295		14,295
Taxation and social security	79,944		52,112
Other creditors	5,414		5,414
	396,097		348,603

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans (secured)	1,440,237		1,716,530

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2024		2023
	£		£
Bank loans (secured / repayable by instalments)	521,430		567,344

Bank borrowings are secured against the assets of the company.

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100