Solent Truck Parts Limited - Accounts

Solent Truck Parts Limited - Accounts

SOLENT TRUCK PARTS LIMITED - Company Information

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Registered Number: 03726877
England and Wales

 

 

 

SOLENT TRUCK PARTS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 May 2020

End date: 30 April 2021

Solent Truck Parts Limited
Contents Page
For the year ended 30 April 2021
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 April 2021 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Ray Dyer Chartered Accountants
30 April 2021



....................................................
Ray Dyer Chartered Accountants
Inglenook
Main Road
Nutbourne
PO18 8RR
04 January 2022
1
 
 		 Notes
 		 2021
£		   2020
£
Fixed assets      
Tangible fixed assets 66,112    62,222 
66,112    62,222 
Current assets      
Stocks 59,158    42,703 
Debtors: amounts falling due within one year 264,815    224,418 
Cash at bank and in hand 99,386    69,152 
423,359    336,273 
Creditors: amount falling due within one year (365,663)   (380,760)
Net current assets 57,696    (44,487)
 
Total assets less current liabilities 123,808    17,735 
Creditors: amount falling due after more than one year (102,170)   (7,061)
Net assets 21,638    10,674 
 

Capital and reserves 		     
Called up share capital 232    232 
Profit and loss account 21,406    10,442 
Shareholder's funds 21,638    10,674 
 


For the year ended 30 April 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 04 January 2022 and were signed by:


--------------------------------
B Dargan
Director
2
General Information
Solent Truck Parts Limited is a private company, limited by shares, registered in England and Wales, registration number 03726877, registration address Unit 4 Bridge Industries, Fareham, Hants,

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:


  Plant and Equipment 20% Reducing Balance

  Motor Vehicles 25% Reducing Balance

  Office Equipment 10% Reducing Balance


Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 10 (2020 : 9).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Land and Buildings   Total
  £   £   £   £
At 01 May 2020 131,391    99,088    22,038    252,517 
Additions 12,050    -    -    12,050 
Disposals -    -    -    - 
At 30 April 2021 143,441    99,088    22,038    264,567 
Depreciation
At 01 May 2020 111,293    79,002    -    190,295 
Charge for year 5,016    3,144    -    8,160 
On disposals -    -    -    - 
At 30 April 2021 116,309    82,146    -    198,455 
Net book values
Closing balance as at 30 April 2021 27,132    16,942    22,038    66,112 
Opening balance as at 01 May 2020 20,098    20,086    22,038    62,222 


4.

Share Capital

Authorised
500,000 Class A shares of £0.02 each
1,000 Class B shares of £1.00 each
Allotted, called up and fully paid
2021
£		   2020
£
100 Class A shares of £0.02 each 2    2 
230 Class B shares of £1.00 each 230    230 
232    232 

3