Solartec Products Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10092419 (England and Wales)

SOLARTEC PRODUCTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A D Pierce

SECRETARY:

A D Pierce

REGISTERED OFFICE:

Unit 9

Severn Valley Workshops

Alveley Industrial Estate

Alveley

Shropshire

WV15 6HG

REGISTERED NUMBER:

10092419 (England and Wales)

ACCOUNTANTS:

Wallace Crooke

Chartered Accountants

College House

St. Leonards Close

Bridgnorth

Shropshire

WV16 4EJ

SOLICITORS:

Andrew Ritson

Progress House

Faraday Drive

Bridgnorth

Shropshire

WV15 5BA

FIXED ASSETS

Investments

3

900,000

900,000

CURRENT ASSETS

Cash at bank

274

201

CREDITORS

Amounts falling due within one year

4

750

136,736

NET CURRENT LIABILITIES

(476

)

(136,535

)

TOTAL ASSETS LESS CURRENT LIABILITIES

899,524

763,465

CREDITORS

Amounts falling due after more than one year

5

749,300

763,300

NET ASSETS

150,224

165

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

150,124

65

SHAREHOLDERS' FUNDS

150,224

165

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 12 April 2019 and were signed by:

A D Pierce - Director

1.	STATUTORY INFORMATION

Solartec Products 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

3.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 January 2018

and 31 December 2018

900,000

NET BOOK VALUE

At 31 December 2018

900,000

At 31 December 2017

900,000

The company's investments at the Balance Sheet Date in the share capital of companies include the following:

Solar Electronics Limited

Registered office: Unit 9 Alveley Industrial Estate, Alveley, Bridgnorth, Shropshire, WV15 6HG

Nature of business: Retail sale via mail order houses or via Internet

Class of Shares: %

holding

Ordinary 100

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amount due to debenture holder (see note 6)

-

136,200

Tax

30

16

Directors' current accounts

420

220

Accrued expenses

300

300

750

136,736

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Amounts owed to group undertakings

749,300

763,300

6.

LOANS

An analysis of the maturity of loans is given below:

2018

2017

£

£

Amounts falling due within one year or on demand:

Amount due to debenture holder

-

136,200

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

8.	ULTIMATE CONTROLLING PARTY

The controlling party is A D Pierce.