Caseware UK (AP4) 2024.0.164 2024.0.164 2025-05-159true2024-01-01falseThe sale of solar mounting systems7truefalse 08787914 2024-01-01 2024-12-31 08787914 2023-01-01 2023-12-31 08787914 2024-12-31 08787914 2023-12-31 08787914 c:Director2 2024-01-01 2024-12-31 08787914 d:PlantMachinery 2024-01-01 2024-12-31 08787914 d:PlantMachinery 2024-12-31 08787914 d:PlantMachinery 2023-12-31 08787914 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08787914 d:MotorVehicles 2024-01-01 2024-12-31 08787914 d:MotorVehicles 2024-12-31 08787914 d:MotorVehicles 2023-12-31 08787914 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08787914 d:OfficeEquipment 2024-01-01 2024-12-31 08787914 d:OfficeEquipment 2024-12-31 08787914 d:OfficeEquipment 2023-12-31 08787914 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08787914 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08787914 d:CurrentFinancialInstruments 2024-12-31 08787914 d:CurrentFinancialInstruments 2023-12-31 08787914 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 08787914 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08787914 d:ShareCapital 2024-12-31 08787914 d:ShareCapital 2023-12-31 08787914 d:SharePremium 2024-12-31 08787914 d:SharePremium 2023-12-31 08787914 d:RetainedEarningsAccumulatedLosses 2024-12-31 08787914 d:RetainedEarningsAccumulatedLosses 2023-12-31 08787914 c:OrdinaryShareClass1 2024-01-01 2024-12-31 08787914 c:OrdinaryShareClass1 2024-12-31 08787914 c:OrdinaryShareClass1 2023-12-31 08787914 c:FRS102 2024-01-01 2024-12-31 08787914 c:Audited 2024-01-01 2024-12-31 08787914 c:FullAccounts 2024-01-01 2024-12-31 08787914 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08787914 d:WithinOneYear 2024-12-31 08787914 d:WithinOneYear 2023-12-31 08787914 d:BetweenOneFiveYears 2024-12-31 08787914 d:BetweenOneFiveYears 2023-12-31 08787914 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08787914 2 2024-01-01 2024-12-31 08787914 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08787914










Valk Solar Systems UK Ltd










Financial statements

Information for filing with the registrar

For the year ended 31 December 2024

 
Valk Solar Systems UK Ltd
Registered number: 08787914

Balance sheet
As at 31 December 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
91,021
84,544

Current assets
  

Debtors: amounts falling due within one year
 6 
2,228,559
1,761,064

Bank and cash balances
  
291,195
806,116

  
2,519,754
2,567,180

Creditors: amounts falling due within one year
 7 
(1,254,784)
(1,176,033)

Net current assets
  
 
 
1,264,970
 
 
1,391,147

Total assets less current liabilities
  
1,355,991
1,475,691

  

Net assets
  
1,355,991
1,475,691


Capital and reserves
  

Called up share capital 
 8 
2
2

Share premium account
  
99,999
99,999

Profit and loss account
  
1,255,990
1,375,690

  
1,355,991
1,475,691


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A C Van Marrewijk
Director
Date: 15 May 2025


The notes on pages 2 to 10 form part of these financial statements.

Page 1

 
Valk Solar Systems UK Ltd
 

 
Notes to the financial statements
For the year ended 31 December 2024

1.


General information

Valk Solar Systems UK Ltd is a private company limited by shares and is incorporated in England with the registration number 08787914. The address of the registered office is Innovation House, Discovery Park, Ramsgate Road, Sandwich, CT13 9FF. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The financial statements are rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Revenue comprises income arising from the sale of solar mounting systems.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 2

 
Valk Solar Systems UK Ltd
 

 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Motor vehicles
-
20%
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Page 3

 
Valk Solar Systems UK Ltd
 

 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.6

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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 the deduction of all its liabilities.
Page 4

 
Valk Solar Systems UK Ltd
 

 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)


Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

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

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
Valk Solar Systems UK Ltd
 

 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.8

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 6

 
Valk Solar Systems UK Ltd
 

 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.12

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.13

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.14

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.



3.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 1 July 2025 by Mark Attwood FCCA (senior statutory auditor) on behalf of Kreston Reeves LLP.


4.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 7).

Page 7

 
Valk Solar Systems UK Ltd
 

 
Notes to the financial statements
For the year ended 31 December 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
88,514
51,900
19,635
160,049


Additions
23,470
-
16,150
39,620


Disposals
(30,049)
-
-
(30,049)



At 31 December 2024

81,935
51,900
35,785
169,620



Depreciation


At 1 January 2024
39,999
23,285
12,221
75,505


Charge for the year on owned assets
9,414
5,820
5,435
20,669


Disposals
(17,575)
-
-
(17,575)



At 31 December 2024

31,838
29,105
17,656
78,599



Net book value



At 31 December 2024
50,097
22,795
18,129
91,021



At 31 December 2023
48,515
28,615
7,414
84,544


6.


Debtors

2024
2023
£
£


Trade debtors
1,954,698
1,549,900

Other debtors
136,757
132,531

Prepayments and accrued income
137,104
78,633

2,228,559
1,761,064

Page 8

 
Valk Solar Systems UK Ltd
 

 
Notes to the financial statements
For the year ended 31 December 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
25,429
84,581

Amounts owed to group undertakings
940,966
799,680

Other taxation and social security
267,894
270,470

Accruals and deferred income
20,495
21,302

1,254,784
1,176,033



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company  to the fund and amounted to £7,554 (2023 - £5,995). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date.


10.


Commitments under operating leases

At 31 December 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
152,602
164,379

Later than 1 year and not later than 5 years
432,374
666,041

584,976
830,420


11.


Related party transactions

The company is exempt from disclosing related party transactions with other companies that are wholly owned within the group.
All other related party transactions during the current and prior periods, were made under normal market conditions.

Page 9

 
Valk Solar Systems UK Ltd
 

 
Notes to the financial statements
For the year ended 31 December 2024

12.


Controlling party

The company is a wholly owned subsidiary of Van der Valk Solar Systems BV, a company incorporated in The Netherlands.
The directors regard Beleggingsmaatschappij ECA BV, a company incorporated in The Netherlands, to be the company's ultimate parent undertaking. Beleggingsmaatschappij ECA BV is the smallest and largest group for which consolidated financial statements are prepared. Copies of the consolidated financial statements are publicly available from the company's registered office at Zwartendijk 73, 2681 LP Monster.
Page 10