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COMPANY REGISTRATION NUMBER: 12425049
Solarcentric Renewables Ltd
Filleted Unaudited Financial Statements
31 January 2025
Solarcentric Renewables Ltd
Financial Statements
Year ended 31 January 2025
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Solarcentric Renewables Ltd
Statement of Financial Position
31 January 2025
2025
2024
Note
£
£
Fixed assets
Tangible assets
5
7,244
4,652
Current assets
Stocks
1,000
8,000
Debtors
6
427,374
271,700
Cash at bank and in hand
81,012
100,268
---------
---------
509,386
379,968
Creditors: amounts falling due within one year
7
417,510
286,945
---------
---------
Net current assets
91,876
93,023
--------
--------
Total assets less current liabilities
99,120
97,675
Creditors: amounts falling due after more than one year
8
23,603
29,330
--------
--------
Net assets
75,517
68,345
--------
--------
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
75,417
68,245
--------
--------
Shareholders funds
75,517
68,345
--------
--------
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 income statement has not been delivered.
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Solarcentric Renewables Ltd
Statement of Financial Position (continued)
31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 30 June 2025 , and are signed on behalf of the board by:
Mr M J Mayers
Director
Company registration number: 12425049
Solarcentric Renewables Ltd
Notes to the Financial Statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 12, Kenfig Industrial Estate, Margam, Port Talbot, SA13 2PE, Wales.
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.
Income tax
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Equipment
-
33% straight line
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2024: 4 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 February 2024
4,826
3,326
8,152
Additions
3,714
3,714
-------
-------
--------
At 31 January 2025
4,826
7,040
11,866
-------
-------
--------
Depreciation
At 1 February 2024
174
3,326
3,500
Charge for the year
965
157
1,122
-------
-------
--------
At 31 January 2025
1,139
3,483
4,622
-------
-------
--------
Carrying amount
At 31 January 2025
3,687
3,557
7,244
-------
-------
--------
At 31 January 2024
4,652
4,652
-------
-------
--------
6. Debtors
2025
2024
£
£
Trade debtors
424,350
262,333
Other debtors
3,024
9,367
---------
---------
427,374
271,700
---------
---------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
5,556
5,556
Trade creditors
169,978
25,989
Corporation tax
8,211
5,570
Social security and other taxes
48,257
18,793
Other creditors
185,508
231,037
---------
---------
417,510
286,945
---------
---------
8. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
23,603
29,330
--------
--------
9. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2025
2024
£
£
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss
29,159
34,886
--------
--------
10. Called up share capital
Issued, called up and fully paid
2025
2024
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
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