SOLUTION_EU_LIMITED - Accounts

SOLUTION EU LIMITED - Company Information

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Company Registration No. 06457657 (England and Wales)

SOLUTION EU LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

SOLUTION EU LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

SOLUTION EU LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

638

909

Tangible assets

22,144

18,074

22,782

18,983

Current assets

Stocks

850,215

929,048

Debtors

1,878,572

1,251,970

Cash at bank and in hand

253,597

178,740

2,982,384

2,359,758

Creditors: amounts falling due within one year

(2,344,793)

(1,814,834)

Net current assets

637,591

544,924

Total assets less current liabilities

660,373

563,907

Provisions for liabilities

(4,253)

656,120

563,907

Capital and reserves

Called up share capital

Share premium account

30,696

Profit and loss account

625,416

533,203

Shareholders' funds

656,120

563,907

SOLUTION EU LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial year ended 31 December 2015 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.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 8 September 2016

Mr M D McLoughlin

Director

Company Registration No. 06457657

SOLUTION EU LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

25% straight line

Computer equipment

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

SOLUTION EU LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 January 2015

15,287

38,314

53,601

Additions

9,544

At 31 December 2015

15,287

47,858

63,145

Depreciation

At 1 January 2015

14,378

20,240

34,618

Charge for the year

271

5,474

5,745

At 31 December 2015

14,649

25,714

40,363

Net book value

At 31 December 2015

638

22,144

22,782

At 31 December 2014

909

18,074

18,983

Share capital

2015

2014

Allotted, called up and fully paid

8 Ordinary shares of £1 each

Related party relationships and transactions

Directors' current accounts

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr T G McKenna - DCA

1,194

5,059

4,569

1,684

Mr M D McLoughlin - DCA

(2,274)

3,023

4,808

(4,059)

(1,080)

8,082

9,377

(2,375)