1.
General Information
Triple Solar Limited is a private company, limited by shares, registered in England. The address of the company's principal place of business and registered office is Temple House, River Way, Harlow Essex, England, CM20 2EY .
The presentation currency of the financial statements is the Pound Sterling (£).
Comparatives:
The financial statements have been prepared for the period from 01 April 2025 to 31 December 2025, comprising 9 months however, the comparative figures relate to the 12-month period ended 31 March 2025.
As the current reporting period covers 9 months whereas the comparative period covers 12 months, the comparative amounts presented in the financial statements are not directly comparable with those of the current period.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Going Concern Disclosure
The director has assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The director has made this assessment in respect to a period of at least twelve months from when the financial statements are authorised for issue.
The director has concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as going concern.
2.3.
Significant judgements and estimations
Stock provision
Stock is valued at the lower of cost and selling price less cost to complete and sell stock. Management is required to consider the selling price less cost to complete and sell stock and whether an impairment is appropriate. When calculating the stock impairment provision, management considers the nature, condition, ageing and expiry date of stock, as well as applying assumptions around anticipated sale ability of finished goods.
Bad debt provision
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.
Taxation
The calculation of corporate tax involves significant judgments in interpreting tax legislation and assessing the tax treatment of certain transactions. Management exercises judgment in determining the provision for current tax liabilities, particularly where the tax treatment is uncertain or subject to challenge by tax authorities.
Warranty Provision
Estimates have been made in relation to the calculation of a warranty provision. The calculation requires the
company to estimate the warranty costs that will be incurred in relation to the sale of their products. The value of the warranty provision held at the balance sheet date was £873,135 (31 March 2025 - £0).
During the year, the company identified certain faulty products that may give rise to warranty claims. Based on management's assessment of the expected future costs of meeting these warranty obligations, a provision has been recognised in the financial statements.
A warranty provision is recognised when the company has a present obligation arising from the sale of products, it is probable that an outflow of economic benefits will be required to settle the obligation, and the amount can be reliably estimated. The provision is measured based on management's best estimate of the expected costs of fulfilling warranty obligations.
In the current year, management has estimated the warranty obligation at 2% of turnover, taking into consideration the identified product defects and the expected level of warranty claims. The provision is reviewed at each reporting date and adjusted where necessary to reflect the latest estimates. Warranty costs incurred are charged against the provision as claims arise.
Triple Solar Ltd
Notes to the Financial Statements (continued)
For the Period 1 April 2025 to 31 December 2025
2.4.
Turnover
Turnover represents the fair value of consideration receivable from the sale of goods in the ordinary course of the company's activities, net of trade discounts, rebates, returns and Value Added Tax (VAT).
Revenue from the sale of goods is recognised when control and the significant risks and rewards of ownership have passed to the customer. For the company's sales, this is generally the point at which the goods are dispatched to the customer.
Other Income
Other income primarily comprises rental income received from properties sublet by the company. Rental income is recognised on a straight-line basis over the term of the lease, in accordance with the lease agreements and the requirements of FRS 102.
Other income may also include miscellaneous receipts such as interest income , insurance recoveries, or other non-trading income, which are recognised in the period to which they relate.
2.5.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
| Plant & Machinery |
|
| Motor Vehicles |
|
2.6.
Investment Properties
Investment properties are properties held to earn rental income and/or for capital appreciation, rather than for use in the production or supply of goods or services, or for administrative purposes.
Investment properties are initially recognised at cost, which includes the purchase price and any directly attributable expenditure (such as legal fees, property transfer taxes, and other transaction costs).
2.7.
Stocks and Work in Progress
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.
2.8.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.
2.9.
Financial Instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
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.
Triple Solar Ltd
Notes to the Financial Statements (continued)
For the Period 1 April 2025 to 31 December 2025
2.10.
Foreign Currencies
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.
At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2.11.
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.
2.12.
Provisions and Contingencies
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2.13.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2.14.
Leased committments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
3.
Turnover
Analysis of turnover by class of business is as follows:
| 31 December 2025 | 31 March 2025 | ||
|---|---|---|---|
| £ | £ | ||
|
|
|
|
|
Analysis of turnover by geographical market is as follows:
| 31 December 2025 | 31 March 2025 | ||
|---|---|---|---|
| £ | £ | ||
| United Kingdom |
|
|
|
| Rest of the world |
|
|
|
| 43,656,737 | 28,582,455 | ||
4.
Other Operating Income
| 31 December 2025 | 31 March 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Other operating income |
|
|
|
| 107,713 | 200,700 | ||
Triple Solar Ltd
Notes to the Financial Statements (continued)
For the Period 1 April 2025 to 31 December 2025
5.
Operating Profit
The operating profit is stated after charging:
| 31 December 2025 | 31 March 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Bad debts | 313,367 | 389,194 | |
| Operating lease rentals |
|
|
|
| Depreciation of tangible fixed assets |
|
|
|
6.
Auditor's Remuneration
Remuneration received by the company's auditors during the period was as follows:
| 31 December 2025 | 31 March 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
7.
Staff Costs
Staff costs, including director's remuneration, were as follows:
|
31 December 2025
|
31 March 2025
|
||
|
£
|
£
|
||
|
Wages and Salaries
|
519,515
|
499,494
|
|
|
Social security costs
|
51,496
|
35,457
|
|
|
Other Pension costs
|
2,996
|
1,644
|
|
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
|
||
|
574,007
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
536,595
|
| 31 December 2025 | 31 March 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
8.
Average Number of Employees
Average number of employees, including directors, during the period was as follows:
| 31 December 2025 | 31 March 2025 | ||
|---|---|---|---|
| Office and administration |
|
|
|
| Sales, marketing and distribution |
|
|
|
|
|
|
||
Triple Solar Ltd
Notes to the Financial Statements (continued)
For the Period 1 April 2025 to 31 December 2025
9.
Director's remuneration
| 31 December 2025 | 31 March 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments | - |
|
|
10.
Interest Payable and Similar Charges
| 31 December 2025 | 31 March 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Interest payable to bank | - |
|
|
11.
Tax on Profit
The tax charge on the profit for the period was as follows:
| Tax Rate | 31 December 2025 | 31 March 2025 | |||
|---|---|---|---|---|---|
| 31 December 2025 | 31 March 2025 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
|
|
|
| Total tax charge for the period |
|
|
|||
The actual charge for the period can be reconciled to the expected charge for the period based on the profit and the standard rate of corporation tax as follows:
| 31 December 2025 | 31 March 2025 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | 2,024,586 | 1,420,478 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Expenses not deductible for tax purposes |
|
( |
|||
| Total tax charge for the period | 508,306 | 345,802 | |||
12.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 April 2025 |
|
|
|
| As at 31 December 2025 |
|
|
|
| Depreciation | |||
| As at 1 April 2025 |
|
|
|
| Provided during the period |
|
|
|
| As at 31 December 2025 |
|
|
|
...CONTINUED
Triple Solar Ltd
Notes to the Financial Statements (continued)
For the Period 1 April 2025 to 31 December 2025
| Net Book Value | |||
| As at 31 December 2025 |
|
|
|
| As at 1 April 2025 |
|
|
|
13.
Investment Property
| 31 December 2025 | |
|---|---|
| £ | |
| Fair Value | |
| As at 1 April 2025 and 31 December 2025 |
|
This fair value has been established using historical sale data, market trends, and comparisons with similar local properties, considering adjustments for market conditions, lease terms, and property-specific factors.
14.
Stocks
| 31 December 2025 | 31 March 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Finished goods and Goods for resale |
|
|
|
15.
Debtors
| 31 December 2025 | 31 March 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Prepayments and accrued income |
|
|
|
| Other debtors |
|
|
|
|
|
|
||
16.
Creditors: Amounts Falling Due Within One Year
| 31 December 2025 | 31 March 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Other creditors | 9,234,203 | 2,382,995 | |
| Corporation tax |
|
|
|
| Taxation and social security | 1,318,540 | 374,156 | |
| Accruals and deferred income | 300,773 | 2,077,797 | |
|
|
|
||
Triple Solar Ltd
Notes to the Financial Statements (continued)
For the Period 1 April 2025 to 31 December 2025
17.
Provisions for Liabilities
| Warranty Provision | Total | |
|---|---|---|
| £ | £ | |
| Additions |
|
873,135 |
| Balance at 31 December 2025 |
|
873,135 |
19.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| 31 December 2025 | 31 March 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
|
|
|
||
20.
Related Party Disclosures
Included within other debtors is £8,131,690 (31.03.2025: £5,202,747) due from a company controlled by the director.
Included within Creditors is £1,205,359 (31.03.2025:£1,229,359 ) due to Mr Yogash Gami, director of the company and £8,024,321 (31.03.2025:£777,108) is due to a company controlled by the director.
21.
Auditor liability limitation agreement
The company has entered into a liability limitation agreement with Sterling Youg Ltd, the statutory auditor, in respect of the statutory audit for the period ended 31 December 2025. The proportionate liability agreement follows the standard terms to the Financial Reporting Council's June 2008 Guidance on Auditor Liability Agreements, and was approved by the members on 11 May 2025.