Solid Securities LLP
Registered number: OC396639
Balance Sheet
as at 30 November 2022
Notes 2022 2021
BGN BGN
Fixed assets
Investments 3 980,501 980,501
Net current assets - -
Total assets less current liabilities 980,501 980,501
Creditors: amounts falling due after more than one year 4 (489,588) (499,958)
Net assets attributable to members 490,913 480,543
Represented by:
Loans and other debts due to members 5 37,870 27,500
Members' other interests
Fair value reserve 453,043 453,043
490,913 480,543
Total members' interests
Loans and other debts due to members 5 37,870 27,500
Members' other interests 453,043 453,043
490,913 480,543
For the year ended 30 November 2022 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 28 November 2023 and signed on their behalf by:
R Cooper for Appleton Secretaries Ltd
Designated member
Solid Securities LLP
Notes to the Accounts
for the year ended 30 November 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2022 2021
Number Number
Average number of persons employed by the LLP - -
3 Fixed asset investments
Financial Other
Land assets investments
BGN BGN BGN
Cost
At 1 December 2021 491,543 488,958 980,501
At 30 November 2022 491,543 488,958 980,501
The land owned by the LLP was revalued during the year based on a report prepared by a certified appraiser in Bulgaria.
4 Creditors: amounts falling due after one year 2022 2021
BGN BGN
Other creditors 489,588 499,958
5 Loans and other debts due to members 2022 2021
BGN BGN
Amounts due to members in respect of profits 37,870 27,500
Amounts falling due within one year 37,870 27,500
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
6 Fair value reserve 2022 2021
BGN BGN
At 1 December 2021 453,043 -
Gain on revaluation of land and buildings - 453,043
At 30 November 2022 453,043 453,043
7 Other information
Solid Securities LLP is a limited liability partnership incorporated in England. Its registered office is:
1st Floor, 8 Bridle Close
Kingston upon Thames
Surrey
KT1 2JW
Solid Securities LLP OC396639 false 2021-12-01 2022-11-30 2022-11-30 VT Final Accounts April 2022 R Cooper for Appleton Secretaries Ltd No description of principal activity OC396639 2020-12-01 2021-11-30 OC396639 core:RevaluationReserve core:LandBuildings 2020-12-01 2021-11-30 OC396639 core:AfterOneYear 2021-11-30 OC396639 1 2021-11-30 OC396639 core:OtherReservesSubtotal 2021-11-30 OC396639 core:RevaluationReserve 2020-11-30 OC396639 2021-12-01 2022-11-30 OC396639 bus:LimitedLiabilityPartnershipLLP 2021-12-01 2022-11-30 OC396639 bus:AuditExempt-NoAccountantsReport 2021-12-01 2022-11-30 OC396639 bus:PartnerLLP20 2021-12-01 2022-11-30 OC396639 3 2021-12-01 2022-11-30 OC396639 1 2021-12-01 2022-11-30 OC396639 2 2021-12-01 2022-11-30 OC396639 4 2021-12-01 2022-11-30 OC396639 core:RevaluationReserve core:LandBuildings 2021-12-01 2022-11-30 OC396639 countries:England 2021-12-01 2022-11-30 OC396639 bus:FRS102 2021-12-01 2022-11-30 OC396639 bus:FullAccounts 2021-12-01 2022-11-30 OC396639 2022-11-30 OC396639 core:AfterOneYear 2022-11-30 OC396639 1 2022-11-30 OC396639 core:OtherReservesSubtotal 2022-11-30 OC396639 core:RevaluationReserve 2022-11-30 OC396639 2021-11-30 OC396639 core:RevaluationReserve 2021-11-30 iso4217:GBP xbrli:pure