Solent Repairs Limited - Filleted accounts

Registered number

12437724

Solent Repairs Limited

Filleted Accounts

28 February 2026

Solent Repairs Limited
Registered number: 12437724
Balance Sheet
as at 28 February 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		16,103			15,128

Current assets
Stocks		2,000			2,000
Debtors	4	27,615			32,154
Cash at bank and in hand		77,387			126,875
		107,002			161,029

Creditors: amounts falling due within one year	5	(64,698)			(105,149)

Net current assets			42,304			55,880

Total assets less current liabilities			58,407			71,008

Provisions for liabilities			(4,267)			(4,796)

Net assets			54,140			66,212

Capital and reserves
Called up share capital			2			2
Profit and loss account			54,138			66,210

Shareholders' funds			54,140			66,212

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies' regime. The statement of income and retained earnings has not been delivered to the Registrar of Companies.



……………………………………
Mr M Buckett
Director
Approved by the board on 28 July 2026

Solent Repairs Limited
Notes to the Accounts
for the year ended 28 February 2026


1	Accounting policies

	The principal accounting policies adopted in the preparation of the accounts are set out below; they have remained unchanged from the previous period and have been consistently applied:

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland, Section 1A (small entities). There have been no material departures from that standard.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and VAT. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulated depreciation and impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			20% on reducing balance
	Motor vehicles			20% on reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the 'first in first out' method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2026		2025
Number							Number

	Average number of persons employed by the company					4.25		2.58


3	Tangible fixed assets
				Plant and machinery		Motor vehicles		Total
£					£		£
	Cost
	At 1 March 2025			3,981		16,490		20,471
	Additions			5,000		-		5,000
	At 28 February 2026			8,981		16,490		25,471

	Depreciation
	At 1 March 2025			2,045		3,298		5,343
	Charge for the year			1,387		2,638		4,025
	At 28 February 2026			3,432		5,936		9,368

	Net book value
	At 28 February 2026			5,549		10,554		16,103
	At 28 February 2025			1,936		13,192		15,128


4	Debtors					2026		2025
£							£

	Trade debtors					8,635		-
	Other debtors					18,980		32,154
						27,615		32,154


5	Creditors: amounts falling due within one year					2026		2025
£							£

	Trade creditors					2,408		-
	Taxation and social security costs					45,118		58,554
	Other creditors					17,172		46,595
						64,698		105,149


6	Other financial commitments					2026		2025
£							£

	Total future minimum payments under non-cancellable operating leases					7,838		24,763


7	Loans to directors
	During the year the company made advances to directors. No interest was paid on these amounts, and no significant conditions were stipulated. These advances, together with amounts repaid, are set out below:	B/fwd	Paid		Repaid		C/fwd
£			£		£		£

	Total loans to directors	(31,824)		118,629		(75,624)		11,181

	The above amounts include no individually material advances or repayments. The maximum balance during the year was £17,051.


8	Other information

	Solent Repairs Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Unit GF14B, Endeavour Quay, Premier Marina, Mumby Road, Gosport, Hants, PO12 1AH.