SOL PRODUCTS LIMITED

SOL PRODUCTS LIMITED

SOL PRODUCTS LIMITED - Company Information

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SOL PRODUCTS LIMITED

Company Registration Number:
04944515 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2019

Period of accounts

Start date: 01 April 2018

End date: 31 March 2019

SOL PRODUCTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2019

Balance sheet
Notes

SOL PRODUCTS LIMITED

Balance sheet

As at 31 March 2019


Notes
2019
2018


£
£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 20,116 21,916
Investments: 4 30,000 30,000
Total fixed assets: 50,116 51,916
Current assets
Stocks: 382,632 605,212
Debtors:   1,165,626 574,269
Cash at bank and in hand: 0 0
Investments:   0 0
Total current assets: 1,548,258 1,179,481
Creditors: amounts falling due within one year: 5 (1,469,923) (1,091,888)
Net current assets (liabilities): 78,335 87,593
Total assets less current liabilities: 128,451 139,509
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: (4,164) (4,164)
Total net assets (liabilities): 124,287 135,345
Capital and reserves
Called up share capital: 20,000 20,000
Share premium account: 0 0
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: 104,287 115,345
Shareholders funds: 124,287 135,345

The notes form part of these financial statements

SOL PRODUCTS LIMITED

Balance sheet statements

For the year ending 31 March 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 18 December 2019
and signed on behalf of the board by:

Name: A J Mackie
Status: Director

The notes form part of these financial statements

SOL PRODUCTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of consideration received or receivable excluding Vat

Tangible fixed assets and depreciation policy

Fixed assets are stated at cost and written off over their estimated useful life on a ten year straight line basis.

Other accounting policies

Current taxation is provided for on profts of the year at the applicable rate. Deferred tax is provided for on timimg differences at rates of tax ruling at the balance sheet date.

SOL PRODUCTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

2. Employees

2019 2018
Average number of employees during the period 13 12

SOL PRODUCTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

3. Tangible Assets

Total
Cost £
At 01 April 2018 93,643
Additions 8,100
Disposals 0
Revaluations 0
Transfers 0
At 31 March 2019 101,743
Depreciation
At 01 April 2018 71,727
Charge for year 9,900
On disposals 0
Other adjustments 0
At 31 March 2019 81,627
Net book value
At 31 March 2019 20,116
At 31 March 2018 21,916

SOL PRODUCTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

4. Fixed investments

Shares in subsidiary company Unidor Limited £20,000. Other investments £10,000. In the opinion of the director the market value of investments is at least equal to the amount at which they are stated in the accounts.

SOL PRODUCTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

5. Creditors: amounts falling due within one year note

Bank loans & overdrafts £317,872. Trade Creditors £625,372. Taxation & Social security £341,398. Other creditors £185,281.

SOL PRODUCTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

6. Related party transactions

Included in sales is £2,431,457 (2018: £1,455,769) of sales made to companies within the same group. Included in trade debtors at the year end is an amount of £705,357 (2018: £522,140) due from those companies.Purchases include £191,400 in respect of those same companies and liabilities include an amount of £418,528.Included in other creditors is an amount of £82,936 due to the director.Stock is held by the company and premises are shared with companies within the same group as are staff and overheads. Sales and recharges to those companies are recorded as made and costs recharged on a basis agreed between the companies from time to time. In the view of the director these transactions take place at arms length and do not detract from the presentaion of a true and fair view.