Solartec Products Limited - Accounts to registrar (filleted) - small 18.2
Solartec Products Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| SOLARTEC PRODUCTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2021 |
| SOLARTEC PRODUCTS LIMITED (REGISTERED NUMBER: 10092419) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 DECEMBER 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| SOLARTEC PRODUCTS LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 DECEMBER 2021 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| College House |
| St. Leonards Close |
| Bridgnorth |
| Shropshire |
| WV16 4EJ |
| SOLICITORS: |
| Progress House |
| Faraday Drive |
| Bridgnorth |
| Shropshire |
| WV15 5BA |
| SOLARTEC PRODUCTS LIMITED (REGISTERED NUMBER: 10092419) |
| BALANCE SHEET |
| 31 DECEMBER 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 and authorised for issue on |
| SOLARTEC PRODUCTS LIMITED (REGISTERED NUMBER: 10092419) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 DECEMBER 2021 |
| 1. | STATUTORY INFORMATION |
| Solartec Products Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2020 - NIL). |
| SOLARTEC PRODUCTS LIMITED (REGISTERED NUMBER: 10092419) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 DECEMBER 2021 |
| 4. | FIXED ASSET INVESTMENTS |
| Listed | Unlisted |
| investments | investments | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2021 | 1,100,001 |
| Revaluations | 17,086 |
| At 31 December 2021 | 1,117,087 |
| NET BOOK VALUE |
| At 31 December 2021 | 1,117,087 |
| At 31 December 2020 | 1,100,001 |
| Cost or valuation at 31 December 2021 is represented by: |
| Listed | Unlisted |
| investments | investments | Totals |
| £ | £ | £ |
| Valuation in 2021 | 17,086 | - | 17,086 |
| Cost | 200,001 | 900,000 | 1,100,001 |
| 217,087 | 900,000 | 1,117,087 |
| If listed investments had not been revalued they would have been included at the following historical cost: |
| 2021 | 2020 |
| £ | £ |
| Cost | 200,001 | - |
| Listed investments were valued on an open market basis on 31 December 2021 by Raymond James Investment Services . |
| The company's unlisted investments of £900,000 were valued on a fair value basis on 31 December 2021 by the director. The director deems the fair value to be unchanged from original cost. At the Balance Sheet Date in the share capital of companies include the following: |
| Solar Electronics Limited |
| Registered office: Unit 3, Building 6, Stanmore Ind Estate, Bridgnorth WV15 5HR. Nature of business: Retail sale via mail order houses or via Internet |
| Class of Shares: % |
| holding |
| Ordinary 100 |
| SOLARTEC PRODUCTS LIMITED (REGISTERED NUMBER: 10092419) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 DECEMBER 2021 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Corporation tax |
| Directors' current accounts | 622 | 622 |
| Accrued expenses |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Amounts owed to group undertakings |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 8. | ULTIMATE CONTROLLING PARTY |
| The controlling party is A D Pierce. |