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REGISTERED NUMBER: 07134108 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

SOLEDO PROPERTIES (UK) LIMITED

SOLEDO PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 07134108)

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


SOLEDO PROPERTIES (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Dr R S Jones
Mr J W Jones





REGISTERED OFFICE: 60 High Street
Chobham
Surrey
GU24 8AA





REGISTERED NUMBER: 07134108 (England and Wales)





ACCOUNTANTS: Ford Bentall LLP
Chartered Certified Accountants
60 High Street
Chobham
Surrey
GU24 8AA

SOLEDO PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 07134108)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 5 5
Investment property 6 1,600,000 1,600,000
1,600,005 1,600,005

CURRENT ASSETS
Debtors 7 29,597 57,513
Cash at bank 42,981 4,354
72,578 61,867
CREDITORS
Amounts falling due within one year 8 915,497 405,366
NET CURRENT LIABILITIES (842,919 ) (343,499 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

757,086

1,256,506

CREDITORS
Amounts falling due after more than one
year

9

-

(529,580

)

PROVISIONS FOR LIABILITIES (46,503 ) (46,503 )
NET ASSETS 710,583 680,423

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 422,850 422,850
Retained earnings 287,633 257,473
SHAREHOLDERS' FUNDS 710,583 680,423

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.

SOLEDO PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 07134108)

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 20 December 2023 and were signed on its behalf by:




Dr R S Jones - Director



Mr J W Jones - Director


SOLEDO PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 07134108)

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


1. STATUTORY INFORMATION

Soledo Properties (UK) 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 the amount derived from the letting of the leasehold properties. Income is recognised as it becomes due in accordance with the tenant agreement.

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 - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

3. EMPLOYEES AND DIRECTORS

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

SOLEDO PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 07134108)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 4,595
DEPRECIATION
At 1 April 2022
and 31 March 2023 4,595
NET BOOK VALUE
At 31 March 2023 -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022
and 31 March 2023 5
NET BOOK VALUE
At 31 March 2023 5
At 31 March 2022 5

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,600,000
NET BOOK VALUE
At 31 March 2023 1,600,000
At 31 March 2022 1,600,000

SOLEDO PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 07134108)

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


6. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2011 25,000
Valuation in 2012 24,052
Valuation in 2013 61,229
Valuation in 2014 49,475
Valuation in 2015 157,000
Valuation in 2016 98,000
Valuation in 2017 89,000
Valuation in 2018 (34,000 )
Valuation in 2019 4,597
Valuation in 2020 (5,000 )
Cost 1,130,647
1,600,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,130,647 1,130,647

The investment properties were valued on an open market basis on 14 April 2021 by Bourne Estate Agents .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 29,597 57,513

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 891,131 291,131
Taxation and social security 8,803 9,143
Other creditors 15,563 105,092
915,497 405,366

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors - 529,580

SOLEDO PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 07134108)

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


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 422,850

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr J W Jones
Balance outstanding at start of year - -
Amounts advanced 81,845 -
Amounts repaid (55,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,845 -

Interest has been charged on this loan at a rate above HM Revenue & Customs' beneficial loan rate. The initial loan was advanced to Mr J W Jones in the year ended 31 March 2022 in his capacity as a participator of the Company. However, he was subsequently appointed a director of the Company from 9 January 2023.

13. RELATED PARTY DISCLOSURES

During the year a further loan advance was made by the Company to a director, Mr J W Jones, who held office during the financial year. The loan was repayable on demand and interest was charged on the balance at the rate of 3% per annum. At 31 March 2023, the total of the loan made to Mr J W Jones including accumulated interest was £26,845 (2022: £55,730). The loan is expected to be repaid to the Company in full within the 9 months following the balance sheet date.



14. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Soledo Holdings Limited, a company registered in England and Wales, holding 100% of the ordinary issued share capital in Soledo Properties (UK) Limited. Soledo Holdings Limited is controlled by its directors who were also the directors of Soledo Properties (UK) Limited during the period covered by these Financial Statements.