REGISTERED NUMBER: 03925802 (England and Wales)

Unaudited Financial Statements

for the Period 1st March 2024 to 31st December 2024

for

Solarsense (UK) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S A Barrett

R Mees

R J Sturge

A E Wood

REGISTERED OFFICE:

Unit 1A

Tweed Road Industrial Estate

Clevedon

North Somerset

BS21 6RR

REGISTERED NUMBER:

03925802 (England and Wales)

ACCOUNTANTS:

Dunkley's

Chartered Accountants

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

FIXED ASSETS

Tangible assets

4

212,306

181,859

CURRENT ASSETS

Stocks

5

167,328

419,102

Debtors

6

1,691,416

1,314,380

Cash at bank

2,868,802

2,126,263

4,727,546

3,859,745

CREDITORS

Amounts falling due within one year

7

2,976,704

2,611,290

NET CURRENT ASSETS

1,750,842

1,248,455

TOTAL ASSETS LESS CURRENT LIABILITIES

1,963,148

1,430,314

CREDITORS

Amounts falling due after more than one year

8

-

(51,681

)

PROVISIONS FOR LIABILITIES

(5,658

)

(7,464

)

NET ASSETS

1,957,490

1,371,169

CAPITAL AND RESERVES

Called up share capital

11

200

200

Retained earnings

1,957,290

1,370,969

SHAREHOLDERS' FUNDS

1,957,490

1,371,169

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th September 2025 and were signed on its behalf by:

S A Barrett - Director

1.	STATUTORY INFORMATION

Solarsense (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

20% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Prior year adjustment

The work in progress element within stock has been reclassified into debtors accrued income, to better reflect its nature.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 42 (2024 - 36 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1st March 2024

46,870

81,984

21,497

Additions

-

24,100

-

Disposals

-

-

-

At 31st December 2024

46,870

106,084

21,497

DEPRECIATION

At 1st March 2024

13,046

68,547

18,680

Charge for period

7,812

5,602

834

Eliminated on disposal

-

-

-

At 31st December 2024

20,858

74,149

19,514

NET BOOK VALUE

At 31st December 2024

26,012

31,935

1,983

At 29th February 2024

33,824

13,437

2,817

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st March 2024

185,036

120,960

456,347

Additions

49,936

8,890

82,926

Disposals

(10,413

)

-

(10,413

)

At 31st December 2024

224,559

129,850

528,860

DEPRECIATION

At 1st March 2024

85,102

89,113

274,488

Charge for period

28,387

9,366

52,001

Eliminated on disposal

(9,935

)

-

(9,935

)

At 31st December 2024

103,554

98,479

316,554

NET BOOK VALUE

At 31st December 2024

121,005

31,371

212,306

At 29th February 2024

99,934

31,847

181,859

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st March 2024

and 31st December 2024

30,990

DEPRECIATION

At 1st March 2024

20,553

Charge for period

1,982

At 31st December 2024

22,535

NET BOOK VALUE

At 31st December 2024

8,455

At 29th February 2024

10,437

5.

STOCKS

31.12.24

29.2.24

as restated

£

£

Stocks

167,328

419,102

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

29.2.24

as restated

£

£

Trade debtors

548,145

797,672

Amounts owed by group undertakings

148,680

-

Prepayments and accrued income

675,849

373,560

Prepayments

318,742

143,148

1,691,416

1,314,380

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

29.2.24

as restated

£

£

Other loans

81,788

119,404

Hire purchase contracts (see note 9)

1,643

3,946

Payments on account

928,025

1,188,157

Trade creditors

776,639

573,067

Amounts owed to group undertakings

-

31,320

Tax

268,542

101,203

Social security and other taxes

49,617

42,720

VAT

362,446

171,375

Other creditors

4,158

4,809

Accrued expenses

503,846

375,289

2,976,704

2,611,290

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

29.2.24

as restated

£

£

Other loans - 1-2 years

-

50,753

Hire purchase contracts (see note 9)

-

928

-

51,681

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

29.2.24

as restated

£

£

Net obligations repayable:

Within one year

1,643

3,946

Between one and five years

-

928

1,643

4,874

Non-cancellable

operating leases

31.12.24

29.2.24

as restated

£

£

Within one year

79,553

31,857

Between one and five years

227,193

170,114

306,746

201,971

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

29.2.24

as restated

£

£

Other loans

81,788

170,157

Hire purchase contracts

1,643

4,874

83,431

175,031

The bank loans are secured against freehold property.

A cross guarantee exists between this company and the parent, Solarsense (UK) Property Limited for all bank balances.

The hire purchase agreements are secured against the assets to which they relate.

The loans from Rowanmoor Trustees Limited carry a fixed and floating charge.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

29.2.24

value:

as restated

£

£

200

Ordinary

£1

200

200

12.	PENSION COMMITMENTS

At the balance sheet date, the outstanding liability was £7,525 (Year ending 29 February 2024 - £313).

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year, payments were made in settlement of an Employee Ownership Trust of £240,000 (Year ending February 2024 - £1,210,192) which holds an interest in the company.

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Solarsense Employee Ownership Trust Ltd.