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Registration number: 14096475

SolarSaves Direct Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

SolarSaves Direct Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

SolarSaves Direct Limited

Company Information

Directors

Mr Steven Taylor

Mr Darren Lee Coates

Registered office

Unit 3 Davey Road
Fields End Business Park
Goldthorpe
Rotherham
South Yorkshire
S63 0JF

Accountants

Thorntons Accounting Limited
Chartered Certified Accountants
176-178 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

SolarSaves Direct Limited

(Registration number: 14096475)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

99,152

152,392

Current assets

 

Stocks

5

35,778

229,589

Debtors

6

12,543

117,170

Cash at bank and in hand

 

10,670

107,041

 

58,991

453,800

Creditors: Amounts falling due within one year

7

(52,638)

(967,633)

Net current assets/(liabilities)

 

6,353

(513,833)

Total assets less current liabilities

 

105,505

(361,441)

Provisions for liabilities

(24,155)

(37,465)

Net assets/(liabilities)

 

81,350

(398,906)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

81,250

(399,006)

Shareholders' funds/(deficit)

 

81,350

(398,906)

For the financial year ending 31 August 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 May 2025 and signed on its behalf by:
 

 

SolarSaves Direct Limited

(Registration number: 14096475)
Balance Sheet as at 31 August 2024

.........................................
Mr Steven Taylor
Director

 

SolarSaves Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 3 Davey Road
Fields End Business Park
Goldthorpe
Rotherham
South Yorkshire
S63 0JF

These financial statements were authorised for issue by the Board on 23 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

SolarSaves Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible 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

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% Straight line basis

Motor Vehicles

25% Straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

SolarSaves Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 13).

 

SolarSaves Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

32,608

171,238

203,846

Additions

595

-

595

At 31 August 2024

33,203

171,238

204,441

Depreciation

At 1 September 2023

9,704

41,750

51,454

Charge for the year

11,027

42,808

53,835

At 31 August 2024

20,731

84,558

105,289

Carrying amount

At 31 August 2024

12,472

86,680

99,152

At 31 August 2023

22,904

129,488

152,392

5

Stocks

2024
£

2023
£

Other inventories

35,778

229,589

6

Debtors

2024
£

2023
£

Trade debtors

7,220

50,413

Other debtors

5,323

53,443

Prepayments

-

13,314

12,543

117,170

 

SolarSaves Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

49,363

46,932

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

-

844,246

Taxation and social security

 

-

2,953

Accruals and deferred income

 

2,000

5,450

Other creditors

 

1,275

68,052

 

52,638

967,633

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

SolarSaves Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Related party transactions

Summary of transactions with entities with joint control or significant interest

Solarframe and Solarframe Direct Limited - Group Companies
 

Loans from related parties

2024

Parent
£

Entities with joint control or significant influence
£

Total
£

At start of period

117,904

726,342

844,246

Advanced

-

50,000

50,000

Repaid

(29,476)

(150,000)

(179,476)

Impairment

(88,428)

(626,342)

(714,770)

At end of period

-

-

-

2023

Parent
£

Entities with joint control or significant influence
£

Total
£

Advanced

117,904

726,342

844,246

At end of period

117,904

726,342

844,246

 

SolarSaves Direct Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

10

Parent and ultimate parent undertaking

The company's immediate parent is Solarframe Holdings Limited, incorporated in Engalnd.

 

The parent of the largest group in which these financial statements are consolidated is Solarframe Holdings Limited, incorporated in England.

The address of Solarframe Holdings Limited is:
Unit 3 Davey Road
Fields End Business Park
Goldthorpe
Rotherham
South Yorkshire
S63 0JF