2022-11-012023-10-312023-10-31false12264340SOLID ROCK HOMES 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SOLID ROCK HOMES LIMITED

Registered Number
12264340
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

SOLID ROCK HOMES LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

AKINTUNDE, Adewale Henry
AKINTUNDE, Oluwajumoke Anuoluwapo

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

12264340 (England and Wales)
SOLID ROCK HOMES LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3649,958456,904
649,958456,904
Current assets
Cash at bank and on hand3,2461,245
3,2461,245
Creditors amounts falling due within one year4(156,061)(93,082)
Net current assets (liabilities)(152,815)(91,837)
Total assets less current liabilities497,143365,067
Creditors amounts falling due after one year5(575,176)(440,075)
Net assets(78,033)(75,008)
Capital and reserves
Called up share capital100-
Profit and loss account(78,133)(75,008)
Shareholders' funds(78,033)(75,008)
The financial statements were approved and authorised for issue by the Board of Directors on 29 July 2024, and are signed on its behalf by:
AKINTUNDE, Adewale Henry
Director
AKINTUNDE, Oluwajumoke Anuoluwapo
Director

Registered Company No. 12264340
SOLID ROCK HOMES LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 November 22456,904456,904
Additions193,054193,054
At 31 October 23649,958649,958
Net book value
At 31 October 23649,958649,958
At 31 October 22456,904456,904
4.Creditors: amounts due within one year

2023

2022

££
Other creditors155,10192,122
Accrued liabilities and deferred income960960
Total156,06193,082
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.
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts575,176440,075
Total575,176440,075
6.Related party transactions
Other creditors of £12,349 relates to Success Plus Limited, a company where Mrs O A Akintunde is a director and shareholder. Also, other creditors includes £142,752 which relates to directors, Mr A H Akintunde & Mrs O A Akintunde.