Solar Tackle Limited
Solar Tackle Limited
Registered number: 05115495
ABRIDGED Financial Statements
For The Year Ended
30 June 2022
C K R
Chartered Certified Accountants
C K R House
70 East Hill
Dartford
Kent
DA1 1RZ
Solar Tackle Limited
Financial Statements
For The Year Ended
30 June 2022
Financial Statements
Contents | |
Page | |
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Abridged Balance Sheet | 1—2 |
Notes to the Abridged Financial Statements | 3—5 |
Solar Tackle Limited
Abridged Balance Sheet
As at
30 June 2022
Abridged Balance Sheet
Registered number:
05115495
For the year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 June 2022 in accordance with section 444(2A) of the Companies Act 2006.
2022 | 2021 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Intangible Assets | 3 |
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Tangible Assets | 4 |
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CURRENT ASSETS | |||||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET LIABILITIES |
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CAPITAL AND RESERVES | |||||
Called up share capital | 5 |
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Profit and Loss Account |
( |
( |
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SHAREHOLDERS' FUNDS | (767,689) | (124,415) | |||
Solar Tackle Limited
Abridged Balance Sheet (continued)
As at
30 June 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Director
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The notes on pages 3 to 5 form part of these financial statements.
Solar Tackle Limited
Notes to the Abridged Financial Statements
For The Year Ended
30 June 2022
Notes to the Abridged Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer (usually on dispatch of goods), the amount of revenue can be measured reliably. It is probable that the economic benefits associateed with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3.
Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property are assets acquired separately from a business which are recognised at cost and subsequently measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised to the profit and loss account so as to write off the cost or valuation of assets less their residual values over the useful lives on the following bases:
Intellectual property 20% straight line basis
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery |
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Motor Vehicles |
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Fixtures & Fittings |
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1.5.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.6.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.7.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Solar Tackle Limited
Notes to the Abridged Financial Statements (continued)
For The Year Ended
30 June 2022
1.8.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
1.9.
Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2022 | 2021 | ||
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Office and administration |
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Sales, marketing and distribution |
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3.
Intangible Assets
Total | |||
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£ | |||
Cost | |||
As at
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Additions |
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As at
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Amortisation | |||
As at
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Provided during the period |
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As at
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Net Book Value | |||
As at
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As at
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Solar Tackle Limited
Notes to the Abridged Financial Statements (continued)
For The Year Ended
30 June 2022
4.
Tangible Assets
Total | |
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£ | |
Cost | |
As at
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Additions |
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As at
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Depreciation | |
As at
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Provided during the period |
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As at
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Net Book Value | |
As at
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As at
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6.
Pension Commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £1,988 (2021 - £1,866) were due to the fund. They are included in Other Creditors.
7.
Related Party Transactions
The following amounts were outstanding at the reporting end date:
2022 £955,560 (2021 - £955,398)
Entities with control, joint control or significant influence over the company
8.
Ultimate Controlling Party
The company's ultimate controlling party is Solar Outdoors Investment Limited, a company registered in China, by virtue of its' ownership of 100% of the issued share capital in the company.
9.
General Information
Solar Tackle Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
05115495
. The registered office is 70 East Hill, Dartford, England, DA1 1RZ.