2023-03-012024-02-292024-02-29false13223160SOL IMPORT AND EXPORT 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SOL IMPORT AND EXPORT LTD

Registered Number
13223160
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

SOL IMPORT AND EXPORT LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

Solange Reyes

Registered Address

13223160 - COMPANIES HOUSE DEFAULT ADDRESS
Cardiff
CF14 8LH

Registered Number

13223160 (England and Wales)
SOL IMPORT AND EXPORT LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks32,380-
Debtors37,573100
Cash at bank and on hand2,626-
42,579100
Creditors amounts falling due within one year4(5,745)-
Net current assets (liabilities)36,834100
Total assets less current liabilities36,834100
Creditors amounts falling due after one year5(34,000)-
Net assets2,834100
Capital and reserves
Called up share capital100100
Share premium50,000-
Profit and loss account(47,266)-
Shareholders' funds2,834100
The financial statements were approved and authorised for issue by the Director on 26 September 2024, and are signed on its behalf by:
Solange Reyes
Director
Registered Company No. 13223160
SOL IMPORT AND EXPORT LTD
Notes to the Financial Statements
for the year ended 29 February 2024

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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
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.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year10
3.Debtors: amounts due within one year

2024

2023

££
Amounts owed by associates and joint ventures / participating interests-100
Other debtors7,573-
Total7,573100
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables360-
Amounts owed to related parties5,385-
Total5,745-
5.Creditors: amounts due after one year

2024

2023

££
Other creditors34,000-
Total34,000-