REGISTERED NUMBER: 06582887 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

SOLENT LAPTOPS LIMITED

Page

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

4

Notes to the Financial Statements

5

DIRECTOR:

Mr M D'Arcy-Burt

SECRETARY:

Gibson Whitter Secretaries Limited

REGISTERED OFFICE:

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

REGISTERED NUMBER:

06582887 (England and Wales)

ACCOUNTANTS:

Gibson Whitter

Chartered Accountants

and Chartered Tax Advisers

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

27,300

52,326

27,300

52,326

CURRENT ASSETS

Stocks

2,607,568

2,148,263

Debtors

6

85,133

77,616

Cash at bank and in hand

43,282

151,831

2,735,983

2,377,710

CREDITORS

Amounts falling due within one year

7

2,000,495

1,663,865

NET CURRENT ASSETS

735,488

713,845

TOTAL ASSETS LESS CURRENT LIABILITIES

762,788

766,171

CREDITORS

Amounts falling due after more than one year

8

(165,834

)

(187,545

)

PROVISIONS FOR LIABILITIES

11

(3,682

)

(9,938

)

NET ASSETS

593,272

568,688

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

593,072

568,488

SHAREHOLDERS' FUNDS

593,272

568,688

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 and authorised for issue by the director and authorised for issue on 20 October 2025 and were signed by:

Mr M D'Arcy-Burt - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2023

200

490,686

490,886

Changes in equity

Dividends

-

(140,000

)

(140,000

)

Total comprehensive income

-

217,802

217,802

Balance at 31 January 2024

200

568,488

568,688

Changes in equity

Dividends

-

(90,000

)

(90,000

)

Total comprehensive income

-

114,584

114,584

Balance at 31 January 2025

200

593,072

593,272

1.	STATUTORY INFORMATION

Solent Laptops Limited 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 derived from ordinary activities, stated net of Value Added Tax. Revenue is recognised at the point when the company satisfies a performance obligation to a customer as agreed.

Goodwill

Goodwill is being written off evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Plant and machinery etc

-

33% on cost and 25% on cost

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on an average cost method. Net realisable value is the estimated proceeds from the sale of stock less all further costs to completion and less all costs to be incurred in marketing, selling and distributing the stock.

Taxation

Taxation for the year 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 year 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 year was 19 (2024 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

15,000

AMORTISATION

At 1 February 2024

and 31 January 2025

15,000

NET BOOK VALUE

At 31 January 2025

-

At 31 January 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2024

233,062

Additions

975

At 31 January 2025

234,037

DEPRECIATION

At 1 February 2024

180,736

Charge for year

26,001

At 31 January 2025

206,737

NET BOOK VALUE

At 31 January 2025

27,300

At 31 January 2024

52,326

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

Plant and

machinery

etc

£

COST

At 1 February 2024

and 31 January 2025

23,795

DEPRECIATION

At 1 February 2024

12,896

Charge for year

5,952

At 31 January 2025

18,848

NET BOOK VALUE

At 31 January 2025

4,947

At 31 January 2024

10,899

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

16,171

5,770

Other debtors

68,962

71,846

85,133

77,616

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

130,000

130,000

Hire purchase contracts (see note 9)

4,212

5,055

Trade creditors

382,298

416,835

Taxation and social security

271,491

246,025

Other creditors

1,212,494

865,950

2,000,495

1,663,865

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans

53,334

183,333

Hire purchase contracts (see note 9)

-

4,212

Other creditors

112,500

-

165,834

187,545

The above bank loans have been obtained using Coronavirus Business Interruption Loan Scheme (CBILS).

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.1.25

31.1.24

£

£

Net obligations repayable:

Within one year

4,212

5,055

Between one and five years

-

4,212

4,212

9,267

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

31.1.24

£

£

Hire purchase contracts

4,212

9,267

Hire purchase agreements are secured against the asset being financed.

11.	PROVISIONS FOR LIABILITIES

31.1.25

31.1.24

£

£

Deferred tax

3,682

9,938

Deferred

tax

£

Balance at 1 February 2024

9,938

Utilised during year

(6,256

)

Balance at 31 January 2025

3,682

12.	PENSION COMMITMENTS

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable by the company to the scheme and amounted to £7,170 (31.1.24: £4,879). There were £2,411 of outstanding contributions at 31 January 2025 (31.1.24: £1,040).

13.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024:

31.1.25

31.1.24

£

£

Mr M D'Arcy-Burt

Balance outstanding at start of year

22,546

17,076

Amounts advanced

48,427

38,835

Amounts repaid

(54,802

)

(33,365

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

16,171

22,546

During the year the director paid interest to the company on the overdrawn director's loan account balance at 2.25% per annum. The interest on the overdrawn director's loan account balance for the year was £642 (31.1.24: £544).

14.	RELATED PARTY DISCLOSURES

The aggregate amount owed by the director at the balance sheet date is £16,171 (31.1.24: £22,546).

The aggregate amount owed to connected companies at the balance sheet date is £372,500 (31.1.24: £95,000). Interest of £29,513 (31.1.24: £7,426) was paid on this balance in the year.

During the year the company was invoiced £45,000 (31.1.24: £45,000) by connected companies for rent.

The company has provided a guarantee of up to £277,500 for a connected company, by way of a debenture, for a bank loan secured against that company's property.

The director has provided a personal guarantee for the company's bank and other loans.

15.	ULTIMATE CONTROLLING PARTY

The company is not under the control of any one party.