Silverfin false 30/04/2023 01/05/2022 30/04/2023 Mr P G Lister 28/03/1991 Mr R J Lister 15/11/2017 Mrs A Lister 30/10/2022 15/11/2017 24 November 2023 The principal activity of the Company during the financial year was that of property development. 01979660 2023-04-30 01979660 bus:Director1 2023-04-30 01979660 bus:Director2 2023-04-30 01979660 bus:Director3 2023-04-30 01979660 2022-04-30 01979660 core:CurrentFinancialInstruments 2023-04-30 01979660 core:CurrentFinancialInstruments 2022-04-30 01979660 core:Non-currentFinancialInstruments 2023-04-30 01979660 core:Non-currentFinancialInstruments 2022-04-30 01979660 core:ShareCapital 2023-04-30 01979660 core:ShareCapital 2022-04-30 01979660 core:RetainedEarningsAccumulatedLosses 2023-04-30 01979660 core:RetainedEarningsAccumulatedLosses 2022-04-30 01979660 core:LandBuildings 2022-04-30 01979660 core:PlantMachinery 2022-04-30 01979660 core:Vehicles 2022-04-30 01979660 core:LandBuildings 2023-04-30 01979660 core:PlantMachinery 2023-04-30 01979660 core:Vehicles 2023-04-30 01979660 2022-05-01 2023-04-30 01979660 bus:FullAccounts 2022-05-01 2023-04-30 01979660 bus:SmallEntities 2022-05-01 2023-04-30 01979660 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 01979660 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 01979660 bus:Director1 2022-05-01 2023-04-30 01979660 bus:Director2 2022-05-01 2023-04-30 01979660 bus:Director3 2022-05-01 2023-04-30 01979660 core:PlantMachinery 2022-05-01 2023-04-30 01979660 core:Vehicles 2022-05-01 2023-04-30 01979660 2021-05-01 2022-04-30 01979660 core:LandBuildings 2022-05-01 2023-04-30 01979660 core:CurrentFinancialInstruments 2022-05-01 2023-04-30 01979660 core:Non-currentFinancialInstruments 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Company No: 01979660 (England and Wales)

SOLENT PROJECTS (SOUTHERN) LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

SOLENT PROJECTS (SOUTHERN) LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

SOLENT PROJECTS (SOUTHERN) LIMITED

BALANCE SHEET

As at 30 April 2023
SOLENT PROJECTS (SOUTHERN) LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,746,441 1,745,217
1,746,441 1,745,217
Current assets
Debtors 4 526,807 637,229
Cash at bank and in hand 783,000 727,721
1,309,807 1,364,950
Creditors: amounts falling due within one year 5 ( 993,762) ( 224,095)
Net current assets 316,045 1,140,855
Total assets less current liabilities 2,062,486 2,886,072
Creditors: amounts falling due after more than one year 6 ( 428,750) ( 1,228,750)
Provision for liabilities ( 3,014) ( 2,782)
Net assets 1,630,722 1,654,540
Capital and reserves
Called-up share capital 101 101
Profit and loss account 1,630,621 1,654,439
Total shareholder's funds 1,630,722 1,654,540

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Solent Projects (Southern) Limited (registered number: 01979660) were approved and authorised for issue by the Board of Directors on 24 November 2023. They were signed on its behalf by:

Mr P G Lister
Director
SOLENT PROJECTS (SOUTHERN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
SOLENT PROJECTS (SOUTHERN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Solent Projects (Southern) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, Dorst, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 3

3. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 May 2022 1,730,576 34,589 41,365 1,806,530
Additions 0 6,538 1,500 8,038
Disposals 0 0 ( 17,871) ( 17,871)
At 30 April 2023 1,730,576 41,127 24,994 1,796,697
Accumulated depreciation
At 01 May 2022 0 30,477 30,836 61,313
Charge for the financial year 0 649 2,332 2,981
Disposals 0 0 ( 14,038) ( 14,038)
At 30 April 2023 0 31,126 19,130 50,256
Net book value
At 30 April 2023 1,730,576 10,001 5,864 1,746,441
At 30 April 2022 1,730,576 4,112 10,529 1,745,217

4. Debtors

2023 2022
£ £
Other debtors 526,807 637,229

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 800,000 0
Taxation and social security 2,677 42,893
Obligations under finance leases and hire purchase contracts 0 2,098
Other creditors 191,085 179,104
993,762 224,095

Creditors include bank loans and overdrafts and obligations under finance leases and hire purchase contracts which are secured of £800,000 (2022 - £2,098).

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 428,750 1,228,750

Creditors include bank loans and overdrafts which are secured of £428,750 (2022 - £1,228,750).

7. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
P G Lister 150,746 26,678

Interest at the has been charged at the beneficial loan rate on the overdrawn directors loan account.