Solent Homes (Iw) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10639612 (England and Wales)

Unaudited Financial Statements

for the Period 25 February 2017 to 28 February 2018

for

Solent Homes (Iw) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C Atkinson

Miss J Snell

SECRETARY:

REGISTERED OFFICE:

16c Sandown Road

Lake

Isle of Wight

PO36 9JP

REGISTERED NUMBER:

10639612 (England and Wales)

ACCOUNTANTS:

Allegri & Co.

16c Sandown Road

Lake

Isle of Wight

PO36 9JP

BANKERS:

NatWest Bank plc

St.James Street

Newport

Isle of Wight

PO30 1AB

FIXED ASSETS

Tangible assets

4

25,543

CURRENT ASSETS

Stocks

500,000

Debtors

5

10,510

Cash at bank

37,254

547,764

CREDITORS

Amounts falling due within one year

6

196,766

NET CURRENT ASSETS

350,998

TOTAL ASSETS LESS CURRENT LIABILITIES

376,541

CREDITORS

Amounts falling due after more than one year

7

344,970

NET ASSETS

31,571

RESERVES

Retained earnings

31,571

31,571

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 November 2018 and were signed on its behalf by:

Mr C Atkinson - Director

1.	STATUTORY INFORMATION

Solent Homes (Iw) Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing

stocks to their present location and condition.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

34,057

At 28 February 2018

34,057

DEPRECIATION

Charge for period

8,514

At 28 February 2018

8,514

NET BOOK VALUE

At 28 February 2018

25,543

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

10,510

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

1,422

Other creditors

195,344

196,766

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

344,970