Solo International Holdings Ltd |
Notes to the Accounts |
for the period from 9 August 2022 to 31 December 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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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). |
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Investments |
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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. |
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Impairment |
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The carrying amount of investment is reviewed for impairment at each balance sheet date if the events or changes in circumstances indicate that the carrying value may not be recoverable. If there are indicators of impairment, an assessment is made to determine whether the carrying value exceeds its recoverable amount. Whenever the carrying value if an assets exceeds the recoverable amount, the carrying value is reduced to its recoverable amount and impairment loss is recognised in profit and loss. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. |
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Provisions |
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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. |
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Foreign currency translation |
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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. |
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2 |
Employees |
2023 |
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Number |
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Average number of persons employed by the company |
5 |
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3 |
Investments |
Investments in |
subsidiary |
undertakings |
$ |
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Cost |
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Additions |
4,683,773 |
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At 31 December 2023 |
4,683,773 |
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4 |
Controlling Party |
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Solo International Holdings Ltd is 100% subsidiary of Solo Buyer, L.P. (US), a company incorporated in US, registered at C/O Francisco Partners, One Letterman Drive, Building C - Suite 410, San Francisco, CA 94129, United States. |
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The ultimate controlling party is Solo Topco GP, LLC, a company incorporated in US, registered at 251 Little falls Drive, Wilmington, DE 19808. |
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5 |
Other information |
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Solo International Holdings Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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Suite 1, 7th Floor |
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50 Broadway |
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London |
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United Kingdom |
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SW1H 0BL |