Sustainable Solar Limited Filleted accounts for Companies House (small and micro)

SUSTAINABLE SOLAR LTD - Company Information

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COMPANY REGISTRATION NUMBER: 07786778

Sustainable Solar Limited

Filleted Unaudited Financial Statements

31 May 2021

Sustainable Solar Limited

Statement of Financial Position

31 May 2021

	2021		2020
Note	£	£	£

Fixed assets

Tangible assets	4		54,842	70,919

Current assets

Debtors	5	37,349	6,600
Cash at bank and in hand		2,167	5,968
		--------	--------
		39,516	12,568

Creditors: amounts falling due within one year	6	7,940		5,490
		--------		--------
Net current assets			31,576	7,078
			--------	--------
Total assets less current liabilities			86,418	77,997

Creditors: amounts falling due after more than one year	7		–	6,936

Provisions

Taxation including deferred tax	6,458	8,643
	--------	--------
Net assets	79,960	62,418
	--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	79,860	62,318
	--------	--------
Shareholders funds	79,960	62,418
	--------	--------

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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Sustainable Solar Limited

Statement of Financial Position (continued)

31 May 2021

These financial statements were approved by the board of directors and authorised for issue on 29 March 2022 , and are signed on behalf of the board by:

Mr C R Dyason

Director

Company registration number: 07786778

Sustainable Solar Limited

Notes to the Financial Statements

Year ended 31 May 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Primes Corner, Histon, Cambridge, CB24 9AG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

Consolidation In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant & machinery	-	8% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1 June 2020 and 31 May 2021	200,961	200,961
	---------	---------
Depreciation
At 1 June 2020	130,042	130,042
Charge for the year	16,077	16,077
	---------	---------
At 31 May 2021	146,119	146,119
	---------	---------
Carrying amount
At 31 May 2021	54,842	54,842
	---------	---------
At 31 May 2020	70,919	70,919
	---------	---------

5. Debtors

	2021	2020
	£	£
Trade debtors	–	1,672
Amounts owed by group undertakings and undertakings in which the company has a participating interest	33,064	–
Other debtors	4,285	4,928
	--------	-------
	37,349	6,600
	--------	-------

6. Creditors: amounts falling due within one year

	2021	2020
	£	£
Trade creditors	599	–
Corporation tax	6,301	4,691
Social security and other taxes	540	319
Other creditors	500	480
	-------	-------
	7,940	5,490
	-------	-------

7. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	6,936
	----	-------

8. Related party transactions

In the director's opinion the company's immediate controlling party is Devantier Group Limited, the immediate parent undertaking. The company is ultimately controlled by the director Mr C R Dyason as a result of his shareholding in the ultimate parent undertaking. As at the balance sheet date the company was owed £33,064 (2020: £-6,936) by Devantier Group Limited.