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REGISTERED NUMBER: 11465041 (England and Wales)









SOELA LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






SOELA LTD (REGISTERED NUMBER: 11465041)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOELA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs S P Edwards
Dr E M Allcock





SECRETARY: Mrs S P Edwards





REGISTERED OFFICE: Station House
North Street
Havant
Hampshire
PO9 1QU





REGISTERED NUMBER: 11465041 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

SOELA LTD (REGISTERED NUMBER: 11465041)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 656,969 -
Investments 5 626,684 626,684
1,283,653 626,684

CURRENT ASSETS
Debtors 6 2,865 1,000
Cash at bank 19,897 7,999
22,762 8,999
CREDITORS
Amounts falling due within one year 7 565,835 248,390
NET CURRENT LIABILITIES (543,073 ) (239,391 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

740,580

387,293

CREDITORS
Amounts falling due after more than one
year

8

(670,184

)

(311,900

)

PROVISIONS FOR LIABILITIES (18,668 ) -
NET ASSETS 51,728 75,393

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 51,726 75,391
SHAREHOLDERS' FUNDS 51,728 75,393

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

SOELA LTD (REGISTERED NUMBER: 11465041)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 13 November 2023 and were signed on its behalf by:




Dr E M Allcock - Director



Mrs S P Edwards - Director


SOELA LTD (REGISTERED NUMBER: 11465041)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

SOELA Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Debtors and cash at bank: Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash on deposit or in a current account.

Creditors and provisions: Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of economic benefits to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences at the balance sheet date, except as otherwise required in the paragraphs below.

Unrelieved 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.

Deferred tax shall not be recognised on permanent differences, other than a business combination where assets (other than goodwill) give rise to an deferred tax asset or liability.

SOELA LTD (REGISTERED NUMBER: 11465041)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Exemption from consolidation
The company has taken advantage of the Companies Act Section 398 exemption for small groups from preparing consolidated accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to Plant and and
property property machinery fittings Totals
£    £    £    £    £   
COST
Additions 456,681 166,390 44,078 11,647 678,796
At 31 March 2023 456,681 166,390 44,078 11,647 678,796
DEPRECIATION
Charge for year 4,567 3,328 11,020 2,912 21,827
At 31 March 2023 4,567 3,328 11,020 2,912 21,827
NET BOOK VALUE
At 31 March 2023 452,114 163,062 33,058 8,735 656,969

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 626,684
NET BOOK VALUE
At 31 March 2023 626,684
At 31 March 2022 626,684

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,865 1,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 45,906 48,860
Amounts owed to group undertakings 518,011 191,612
Other creditors 1,918 7,918
565,835 248,390

SOELA LTD (REGISTERED NUMBER: 11465041)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 670,184 311,900

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 716,090 360,760

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2