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REGISTERED NUMBER: 08823045 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

SOLACE LAND LTD

SOLACE LAND LTD (REGISTERED NUMBER: 08823045)

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










Page

Balance sheet 1

Notes to the financial statements 2


SOLACE LAND LTD (REGISTERED NUMBER: 08823045)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £   
Current assets
Debtors 4 251,471 1,163,464
Cash at bank 92,688 31,440
344,159 1,194,904
Creditors
Amounts falling due within one year 5 11,475 293,995
Net current assets 332,684 900,909
Total assets less current liabilities 332,684 900,909

Capital and reserves
Called up share capital 6 1 1
Retained earnings 332,683 900,908
Shareholders' funds 332,684 900,909

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 February 2024 and were signed by:





Mr D Peach - Director


SOLACE LAND LTD (REGISTERED NUMBER: 08823045)

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


1. Statutory information

Solace Land Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08823045. The registered office and business address is Second Floor, Twin Sails House, 34-40 West Quay Road, Poole, Dorset, BH15 1JF.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements
The financial statements present information about the company as an individual undertaking and not about its group. The company and its parent comprise a small-sized group. The group has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

Turnover
Turnover represents amounts receivable, in respect of proceeds from the sale of property developments in the ordinary course of business. Turnover is recognised at the completion date of each property sold.

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 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.

Fixed asset investments
Financial instruments held as fixed asset investments are recognised when the entity becomes party to the contractual provisions of the instrument.

The financial assets are measured at fair value unless a reliable measure of fair value is not available in which case the asset is measured at cost less any impairment.

Income from financial assets is taken to the profit and loss account when it can be measured reliably regardless of the contractual completion date.

SOLACE LAND LTD (REGISTERED NUMBER: 08823045)

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


2. Accounting policies - continued

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

4. Debtors
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 1,471 -
Other debtors - 1,161,542
VAT - 1,922
1,471 1,163,464

Amounts falling due after more than one year:
Other debtors 250,000 -

Aggregate amounts 251,471 1,163,464

5. Creditors: amounts falling due within one year
2023 2022
£    £   
Amounts owed to group undertakings - 291,000
Tax 10,195 -
Accruals and deferred income 1,280 2,995
11,475 293,995

6. Called up share capital

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

7. Ultimate controlling party

The company is under the control of its director Mr D Peach who manages the day to day operations of the company. Mr D Peach is the sole shareholder of the parent company Solace Global Limited. Mr D Peach would hold ultimate control should he exercise his rights by virtue of his shareholding in the voting share capital.

SOLACE LAND LTD (REGISTERED NUMBER: 08823045)

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


8. Ultimate parent company

Solace Global Limited is the parent company and it's registered office is Second Floor, Twin Sails House, 34-40 West Quay Road, Poole, Dorset, BH15 1JF.