REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
FOR |
SOLIDITY LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
FOR |
SOLIDITY LIMITED |
SOLIDITY LIMITED (REGISTERED NUMBER: 04695774) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 7 |
SOLIDITY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
7/8 Eghams Court |
Boston Drive |
Bourne End |
Buckinghamshire |
SL8 5YS |
SOLIDITY LIMITED (REGISTERED NUMBER: 04695774) |
ABRIDGED BALANCE SHEET |
31 MARCH 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
SOLIDITY LIMITED (REGISTERED NUMBER: 04695774) |
ABRIDGED BALANCE SHEET - continued |
31 MARCH 2017 |
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 its behalf by: |
SOLIDITY LIMITED (REGISTERED NUMBER: 04695774) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
1. | STATUTORY INFORMATION |
Solidity Limited is a |
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 |
The date of transition to FRS 102 was 31.03.15. There were no adjustments arising on transition to |
FRS102. |
Going Concern |
The company has made a loss during the year and has net liabilities of £21,702 at the balance sheet |
date. The financial statements have been prepared on a going concern basis, which is dependant on |
future trading profits and the continued support of the directors. Having considered the information |
available to them, the directors consider that the going concern basis of preparation is appropriate for |
the year ended 31 March 2017. |
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 |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
Financial instruments |
The company uses certain financial instruments in its normal operating and investing activities, which |
are deemed appropriate to its circumstances, such as trade receivables and trade payables, cash at |
bank deposits, loans and equity shares. Financial assets and liabilities are recognised on the |
company's balance sheet at amortised cost when the company has become a party to the contractual |
provisions of the instrument. |
Taxation |
Taxation for the year 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. |
SOLIDITY LIMITED (REGISTERED NUMBER: 04695774) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
2. | ACCOUNTING POLICIES - continued |
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 year 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 |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
held under finance leases are depreciated over their estimated useful lives or the lease term, |
whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The |
capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to income as incurred. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2016 |
Additions |
At 31 March 2017 |
DEPRECIATION |
At 1 April 2016 |
Charge for year |
At 31 March 2017 |
NET BOOK VALUE |
At 31 March 2017 |
At 31 March 2016 |
SOLIDITY LIMITED (REGISTERED NUMBER: 04695774) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts and finance leases |
are as follows: |
Totals |
£ |
COST |
At 1 April 2016 | 26,150 |
Additions | 14,650 |
Transfer to ownership | (11,150 | ) |
At 31 March 2017 | 29,650 |
DEPRECIATION |
At 1 April 2016 | 9,572 |
Charge for year | 6,285 |
Transfer to ownership | (7,622 | ) |
At 31 March 2017 | 8,235 |
NET BOOK VALUE |
At 31 March 2017 | 21,415 |
At 31 March 2016 | 16,578 |
5. | SECURED DEBTS |
The following secured debts are included within creditors: |
2017 | 2016 |
£ | £ |
Hire purchase contracts and finance leases | 22,313 | 14,710 |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
7. | OPERATING LEASES |
The total minimum lease payments under non-cancellable operating leases are payable as follows: |
2017 | 2016 |
£ | £ |
Within one year | 38,460 | - |
Between one and five years | 147,451 | - |
In more than five years | 149,178 | - |
335,089 | - |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
SOLIDITY LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's |
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain |
other primary statements and the Report of the Directors are not required to be filed with the |
Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
the financial statements of Solidity Limited for the year ended 31 March 2017 which comprise the Income |
Statement, Abridged Balance Sheet, and the related notes from the company's accounting records and from |
information and explanations you have given us. |
As a practising 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Solidity Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Solidity Limited and state those matters that we have agreed to state to the Board of Directors of Solidity Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Solidity Limited Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Solidity Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Solidity Limited. You consider that Solidity Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Solidity Limited. 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. |
Chartered Accountants |
7/8 Eghams Court |
Boston Drive |
Bourne End |
Buckinghamshire |
SL8 5YS |