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REGISTERED NUMBER: 07520080 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

SOLENT CULTURAL ENTERPRISE LIMITED

SOLENT CULTURAL ENTERPRISE LIMITED (REGISTERED NUMBER: 07520080)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SOLENT CULTURAL ENTERPRISE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: R M Maryan
N M Coles
C J Gilder
A Hussain
A Grays
M Waldron





REGISTERED OFFICE: Portsmouth Guildhall
Guildhall Square
Portsmouth
Hampshire
PO1 2AB





REGISTERED NUMBER: 07520080 (England and Wales)





ACCOUNTANTS: Compass Accountants Limited
Chartered Accountants
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR

SOLENT CULTURAL ENTERPRISE LIMITED (REGISTERED NUMBER: 07520080)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,673 2,423

CURRENT ASSETS
Debtors 5 76,457 68,304
Cash at bank 156,488 231,287
232,945 299,591
CREDITORS
Amounts falling due within one year 6 232,913 299,559
NET CURRENT ASSETS 32 32
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,705

2,455

PROVISIONS FOR LIABILITIES 7 318 460
NET ASSETS 1,387 1,995

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 1,386 1,994
SHAREHOLDERS' FUNDS 1,387 1,995

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th August 2024 and were signed on its behalf by:





A Grays - Director


SOLENT CULTURAL ENTERPRISE LIMITED (REGISTERED NUMBER: 07520080)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Solent Cultural Enterprise 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Basic financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

SOLENT CULTURAL ENTERPRISE LIMITED (REGISTERED NUMBER: 07520080)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st April 2023
and 31st March 2024 1,441 3,749 5,190
DEPRECIATION
At 1st April 2023 1,441 1,326 2,767
Charge for year - 750 750
At 31st March 2024 1,441 2,076 3,517
NET BOOK VALUE
At 31st March 2024 - 1,673 1,673
At 31st March 2023 - 2,423 2,423

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 75,099 47,813
Other debtors 1,358 20,491
76,457 68,304

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 544 12,531
Amounts owed to group undertakings 165,014 159,859
Taxation and social security 21,804 17,265
Other creditors 45,551 109,904
232,913 299,559

7. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 318 460

Deferred
tax
£   
Balance at 1st April 2023 460
Provided during year (142 )
Deferred tax
Balance at 31st March 2024 318

SOLENT CULTURAL ENTERPRISE LIMITED (REGISTERED NUMBER: 07520080)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Retained
earnings
£   

At 1st April 2023 1,994
Profit for the year 115,461
Gift aid (116,069 )
At 31st March 2024 1,386