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REGISTERED NUMBER: 06789169 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Solace Property Consultancy Limited

Solace Property Consultancy Limited (Registered number: 06789169)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Solace Property Consultancy Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: D Macnamara
P Heald





SECRETARY: M J Macnamara





REGISTERED OFFICE: Unit 4 Church Court
Cox Street
Birmingham
West Midlands
B3 1RD





REGISTERED NUMBER: 06789169 (England and Wales)





ACCOUNTANTS: Pride Accountants
Polymer Court
Hope Street
Dudley
West Midlands
DY2 8RS

Solace Property Consultancy Limited (Registered number: 06789169)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,564 69,596
Investment property 5 273,714 273,714
325,278 343,310

CURRENT ASSETS
Debtors 6 373,325 447,957
Cash at bank 136,511 60,905
509,836 508,862
CREDITORS
Amounts falling due within one year 7 468,246 437,228
NET CURRENT ASSETS 41,590 71,634
TOTAL ASSETS LESS CURRENT
LIABILITIES

366,868

414,944

CREDITORS
Amounts falling due after more than one
year

8

(42,457

)

(61,816

)

PROVISIONS FOR LIABILITIES 10 (9,798 ) (13,224 )
NET ASSETS 314,613 339,904

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 314,611 339,902
SHAREHOLDERS' FUNDS 314,613 339,904

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

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

Solace Property Consultancy Limited (Registered number: 06789169)

Balance Sheet - continued
31 January 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:




D Macnamara - Director



P Heald - Director


Solace Property Consultancy Limited (Registered number: 06789169)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Solace Property Consultancy 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.
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33% on reducing balance

Investment property
Investment property shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised as profit or loss.

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
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.

Solace Property Consultancy Limited (Registered number: 06789169)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 17,066 82,672 129,084 228,822
Additions 304 - 4,164 4,468
Disposals - - (282 ) (282 )
At 31 January 2024 17,370 82,672 132,966 233,008
DEPRECIATION
At 1 February 2023 11,109 56,022 92,095 159,226
Charge for year 2,084 6,663 13,697 22,444
Eliminated on disposal - - (226 ) (226 )
At 31 January 2024 13,193 62,685 105,566 181,444
NET BOOK VALUE
At 31 January 2024 4,177 19,987 27,400 51,564
At 31 January 2023 5,957 26,650 36,989 69,596

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 273,714
NET BOOK VALUE
At 31 January 2024 273,714
At 31 January 2023 273,714

The property was acquired on 6th July 2018 and the directors have assessed the valuation of the property at the balance sheet date and concluded that there is no material change in valuation since acquisition.

Solace Property Consultancy Limited (Registered number: 06789169)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 361,227 435,298
Other debtors 12,098 12,659
373,325 447,957

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 14,725 14,725
Trade creditors 94,719 61,166
Taxation and social security 147,273 140,174
Other creditors 211,529 221,163
468,246 437,228

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 42,457 61,816

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 2,918

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 57,182 76,541

National Westminster Bank Plc hold a legal mortgage dated 13th July 2018 secured on the leasehold property at 4 Church Court, Cox Street, Birmingham, B3 1RD and a fixed and floating charge over the undertaking and all property and assets present and future in resect of the mortgage facility.

10. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 9,798 13,224

Solace Property Consultancy Limited (Registered number: 06789169)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 February 2023 13,224
Provided during year (3,426 )
Balance at 31 January 2024 9,798

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
2 Ordinary £1 2 2

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.