Solent_Way_Computers_Ltd_31_Mar_2026_companies_house_set_of

Solent Way Computers Ltd

Statement of Financial Position

31 March 2026

		2026		2025
	Note	£		£
Fixed assets
Intangible assets	5	3,000		4,000
Tangible assets	6	8,684		6,725
		11,684		10,725
Current assets
Stocks		11,506		9,606
Debtors	7	12,072		12,810
Cash at bank and in hand		18,928		35,508
		42,506		57,924
Creditors: amounts falling due within one year	8	(33,545	)	(61,762	)
Net current assets/(liabilities)		8,961		(3,838	)
Total assets less current liabilities		20,645		6,887
Provisions for liabilities		(1,650	)	(1,284	)
Net assets		18,995		5,603
Capital and reserves
Called up share capital		100		100
Profit and loss account		18,895		5,503
Shareholders funds		18,995		5,603

For the year ending

31 March 2026

, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These

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.

These

financial statements

were approved by the board of directors and authorised for issue on

1 October 2026

, and are signed on behalf of the board by:

N Williams

Director

Company registration number:

11765039

Solent Way Computers Ltd

Notes to the Financial Statements

Year ended

31 March 2026

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

Unit 7, Fareham Innovation Centre

4 Meteor Way

Lee-On-The-Solent

Hampshire

PO13 9FU

, United Kingdom.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Going concern

These accounts have been prepared on the going concern basis with the company trading profitably since the accounting date along with assurances from the Director of his financial support for the company who also considers the business retains sufficient working capital to continue trading for the foreseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.

Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Office equipment	25% straight line
Fixtures and fittings	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

4 Average number of employees

The average number of persons employed by the company during the year was

(2025:

6.00

5 Intangible assets

	Goodwill
	£
Cost
At 1 April 2025 and 31 March 2026	11,000
Amortisation
At 1 April 2025	7,000
Charge	1,000
At 31 March 2026	8,000
Carrying amount
At 31 March 2026	3,000
At 31 March 2025	4,000

6 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 April 2025	35,567
Additions	7,023
Disposals	(4,146	)
At 31 March 2026	38,444
Depreciation
At 1 April 2025	28,842
Charge	5,065
Disposals	(4,147	)
At 31 March 2026	29,760
Carrying amount
At 31 March 2026	8,684
At 31 March 2025	6,725

7 Debtors

	2026	2025
	£	£
Trade debtors	10,582	11,320
Other debtors	1,490	1,490
	12,072	12,810

8 Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	12,975	24,944
Trade creditors	2,553	105
Taxation and social security	9,996	13,956
Other creditors	8,021	22,757
	33,545	61,762

9 Director's advances, credit and guarantees

The sum owed to the Director at the Balance Sheet date amounted to £5,525 (£20,152 - 2025) and is reflected in Other Creditors above.

10 Related party transactions

In addition to the Directors’ remuneration declared above, a Licence to Use premises for business purposes and interest on the balance owed to the Director was also paid during the period.