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Registered number: 05964406
SOLATECH SYSTEMS LTD
UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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SOLATECH SYSTEMS LTD
COMPANY INFORMATION
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SOLATECH SYSTEMS LTD
CONTENTS
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Notes to the Financial Statements
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SOLATECH SYSTEMS LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The directors present their report and the financial statements for the year ended 31 December 2022.
The company's principal activities involve computer consultancy.
The directors who served during the year were:
Directors' responsibilities statement
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The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board on 14 April 2023 and signed on its behalf.
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Terry Cleaver
Director
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SOLATECH SYSTEMS LTD
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOLATECH SYSTEMS LTD
FOR THE YEAR ENDED 31 DECEMBER 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Solatech Systems Ltd for the year ended 31 December 2022 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulation.
This report is made solely to the Board of Directors of Solatech Systems Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Solatech Systems Ltd and state those matters that we have agreed to state to them in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Solatech Systems Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Solatech Systems Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and loss. You consider that Solatech Systems Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Solatech Systems Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Price Bailey LLP
Chartered Accountants
Causeway House
1 Dane Street
Bishop's Stortford
Hertfordshire
CM23 3BT
14 April 2023
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SOLATECH SYSTEMS LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
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Interest receivable and similar income
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(Loss)/profit for the financial year
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The notes on pages 6 to 7 form part of these financial statements.
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SOLATECH SYSTEMS LTD
REGISTERED NUMBER: 05964406
BALANCE SHEET
AS AT 31 DECEMBER 2022
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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SOLATECH SYSTEMS LTD
REGISTERED NUMBER: 05964406
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022
For the year ended 31 December 2022 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.
Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 April 2023.
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Terry Cleaver
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The notes on pages 6 to 7 form part of these financial statements.
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SOLATECH SYSTEMS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
The Company is a private company limited by shares and is incorporated in England and Wales. The address of it's Registered Office is 51 Abbotts Way, Thorley Park, Bishop's Stortford, CM23 4JF. The Company is not part of a group.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The directors are continually assessing the impact of the current economic climate. They have not encountered any significant adverse impacts as a result and therefore, the directors deem it appropriate to prepare the accounts on a going concern basis.
The directors intend to close the company after the year end.
Interest income is recognised in profit or loss using the effective interest method.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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The average monthly number of employees, including directors, during the year was 2 (2021 - 2).
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SOLATECH SYSTEMS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Authorised, allotted, called up and fully paid
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100 (2021 - 100) ordinary shares of £1.00 each
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Related party transactions
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During the year the Company operated a loan account with the directors. During the year ended 31 December 2022, interest totalling £2,074 was charged by the company in respect of the loan outstanding from the director.
The amounts outstanding at the year end are as follows:
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Amounts due (from)/to directors
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Registered number: 05964406
SOLATECH SYSTEMS LTD
DETAILED ACCOUNTS - UNAUDITED
FOR THE YEAR ENDED 31 DECEMBER 2022
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SOLATECH SYSTEMS LTD
DETAILED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
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(Loss)/Profit for the year
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SOLATECH SYSTEMS LTD
SCHEDULE TO THE DETAILED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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Other interest receivable
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