| REGISTERED NUMBER: |
| SOLATEK LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31ST MAY 2025 |
| REGISTERED NUMBER: |
| SOLATEK LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31ST MAY 2025 |
| SOLATEK LTD (REGISTERED NUMBER: 10748401) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| SOLATEK LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MAY 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 43-45 Devizes Road |
| SWINDON |
| Wiltshire |
| SN1 4BG |
| BANKERS: |
| Leicester Servicing Centre |
| Leicester |
| LE87 2BB |
| SOLATEK LTD (REGISTERED NUMBER: 10748401) |
| STATEMENT OF FINANCIAL POSITION |
| 31ST MAY 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Capital redemption reserve | 11 |
| Retained earnings | 11 |
| SHAREHOLDERS' FUNDS |
| 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. |
| SOLATEK LTD (REGISTERED NUMBER: 10748401) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31ST MAY 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| SOLATEK LTD (REGISTERED NUMBER: 10748401) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2025 |
| 1. | STATUTORY INFORMATION |
| Solatek Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below: |
| Registered number: 10748401. |
| Registered office: Unit 8 Rockhaven Park, Kembrey Street, Swindon, United Kingdom, SN2 8BB. |
| The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| In preparing these financial statements, the directors have made the following judgements: |
| - Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis. |
| - Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period. |
| - Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis. |
| - Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis. |
| - Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, net of VAT and discounts. Turnover is recognised when goods are despatched or otherwise made available to the customer. |
| 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. |
| The website was not in use as at the year end and therefore has not yet been amortised. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| SOLATEK LTD (REGISTERED NUMBER: 10748401) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| 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. |
| Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| Additions |
| At 31st May 2025 |
| NET BOOK VALUE |
| At 31st May 2025 |
| SOLATEK LTD (REGISTERED NUMBER: 10748401) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st June 2024 |
| Additions |
| Disposals | ( |
) |
| At 31st May 2025 |
| DEPRECIATION |
| At 1st June 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31st May 2025 |
| NET BOOK VALUE |
| At 31st May 2025 |
| At 31st May 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| SOLATEK LTD (REGISTERED NUMBER: 10748401) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2025 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| During the year ended 31/05/2024, 10 Ordinary shares of £1 each were allotted and fully paid for cash at par. Also, 15 Ordinary shares of £1 each were allotted as fully paid as a bonus issue out of reserves. |
| On 9 February 2024, the company repurchased 25 £1 Ordinary Shares at market value of £596.9724 per share. The shares were subsequently cancelled. |
| 11. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1st June 2024 | 74,984 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| At 31st May 2025 | 98,497 |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31st May 2025 and 31st May 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| The above loan was provided interest free and was repaid in full on 5th June 2025. |