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REGISTERED NUMBER: 00314423 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SOLENT LAND INVESTMENTS LIMITED

SOLENT LAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00314423)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


SOLENT LAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00314423)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,336,364 2,336,364
Investment property 5 14,919,400 14,339,000
17,255,764 16,675,364

CURRENT ASSETS
Debtors 6 930,790 220,927
Cash at bank 1,435,355 4,158,817
2,366,145 4,379,744
CREDITORS
Amounts falling due within one year 7 336,827 114,408
NET CURRENT ASSETS 2,029,318 4,265,336
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,285,082

20,940,700

CREDITORS
Amounts falling due after more than one
year

8

(2,666,000

)

(5,416,000

)

PROVISIONS FOR LIABILITIES 9 (1,010,430 ) (625,824 )
NET ASSETS 15,608,652 14,898,876

CAPITAL AND RESERVES
Called up share capital 10 47 47
Non distributable reserve 11 3,643,554 3,095,644
Retained earnings 11 11,965,051 11,803,185
SHAREHOLDERS' FUNDS 15,608,652 14,898,876

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

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

SOLENT LAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00314423)

BALANCE SHEET - continued
31 DECEMBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2024 and were signed on its behalf by:





Mr J R E Andrew - Director


SOLENT LAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00314423)

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


1. STATUTORY INFORMATION

Solent Land Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00314423

Registered office: 15 Henderson Road
London
SW18 3RR

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 as modified by the revaluation of certain assets.

The results are presented for the company as a single entity only.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover represents gross rental income, excluding value added tax.

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.

SOLENT LAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00314423)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' 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, when 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.

Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Going concern
Based on current trading and future expectations, the directors are confident the company will continue to trade profitably in future periods and generate sufficient cash flows to meet its obligations as they fall due for payment.

3. EMPLOYEES AND DIRECTORS

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

SOLENT LAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00314423)

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


4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 2,336,364
NET BOOK VALUE
At 31 December 2023 2,336,364
At 31 December 2022 2,336,364

In the opinion of the directors, the aggregate value of the assets of the company consisting of shares in, or amounts owing from the subsidiary undertakings, is not less than the amounts at which those assets are stated or included in the company's balance sheet.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 14,339,000
Additions 32,490
Revaluations 547,910
At 31 December 2023 14,919,400
NET BOOK VALUE
At 31 December 2023 14,919,400
At 31 December 2022 14,339,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 14,919,400

The investment properties were valued on the tenanted open market value basis at 31 December 2023 by the director of the company to the value of £14,919,400 (2022: £14,339,000).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings - 1
Other debtors 78,431 46,661
Directors' current accounts 750,000 -
Prepayments and accrued income 102,359 174,265
930,790 220,927

SOLENT LAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00314423)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 6,500 14,747
Corporation tax 253,111 34,524
VAT 5,768 6,069
Accruals and deferred income 71,448 59,068
336,827 114,408

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 2,666,000 5,416,000

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,010,430 625,824

Deferred
tax
£   
Balance at 1 January 2023 625,824
Provided during year 384,606
Balance at 31 December 2023 1,010,430

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
47 Ordinary £1 47 47

11. RESERVES
Non
Retained distributable
earnings reserve Totals
£    £    £   

At 1 January 2023 11,803,185 3,095,644 14,898,829
Profit for the year 844,653 - 844,653
Dividends (134,877 ) - (134,877 )
Surplus on revaluation (547,910 ) 547,910 -
At 31 December 2023 11,965,051 3,643,554 15,608,605

SOLENT LAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00314423)

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


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr J R E Andrew and Mrs A J Andrew
Balance outstanding at start of year - -
Amounts advanced 750,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 750,000 -

13. ULTIMATE PARENT COMPANY

The company's immediate parent company is Andrew Holdings Limited and the company's ultimate controlling party is The Alexandra Andrew Settlement, a trust in which A J Andrew is a beneficiary.