Solent Students' Union Trading Limited
Solent Students' Union Trading Limited
Registered number: 10353271
Unaudited Financial Statements
For The Year Ended
31 July 2023
Godfrey Wilson Limited
Fifth Floor Mariner House
62 Prince Street
Bristol
BS1 4QD
Solent Students' Union Trading Limited
Unaudited Financial Statements
For The Year Ended
31 July 2023
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
Page 1
Solent Students' Union Trading Limited
Balance Sheet
As At
31 July 2023
Balance Sheet
Registered number:
10353271
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
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.
| 2023 | 2022 | ||||
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| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| SHAREHOLDERS' FUNDS | 1 | 1 | |||
Page 1
Page 2
Solent Students' Union Trading Limited
Balance Sheet (continued)
As At
31 July 2023
On behalf of the board
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Director
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Solent Students' Union Trading Limited
Notes to the Financial Statements
For The Year Ended
31 July 2023
Notes to the Financial Statements
1.
General Information
Solent Students' Union Trading Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
10353271
. The registered office is Solent Students' Union, East Park Terrace, Southampton, Hampshire, SO14 0YN.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
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 and from the rendering of services. 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. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Taxation
The company has not incurred a corporation tax charge in the period due to its policy of paying all taxable profits to its parent charity under gift aid. Where payment of the company's taxable profits to the parent charity falls after the reporting date, the income tax effects of that gift aid payment are still recognised at the reporting date. The income tax effects are measured consistently with the tax treatment planned to be used in the company’s income tax filings, and a deferred tax liability is not recognised in relation to such a gift aid payment.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
4.
Debtors
| 2023 | 2022 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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Page 4
Solent Students' Union Trading Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 July 2023
5.
Creditors: Amounts Falling Due Within One Year
| 2023 | 2022 | ||
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| £ | £ | ||
| Trade creditors |
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| VAT |
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| Other creditors |
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| Deferred income |
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| Accruals |
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| Amounts owed to parent undertaking |
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6.
Share Capital
| 2023 | 2022 | ||
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| £ | £ | ||
| Allotted, Called up and fully paid |
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7.
Related Party Transactions
During the year ended 31 July 2023, Solent Students' Union invoiced management charges to the company amounting to £9,228 (2022: £18,916). Solent Students' Union Trading Limited made a donation of taxable profits of £31,760 (2022: £16,473) to the charity.
At the year end, Solent Students' Union Trading Limited owed £31,760 (2022: £16,473) to its parent undertaking, which is included within amounts owed to group undertakings (note 6).
8.
Ultimate Controlling Party
The company is a 100% wholly owned subsidiary undertaking of Solent Students' Union, a registered charity, (number: 1153350) and company limited by guarantee, (number: 8619653) in England and Wales.
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