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REGISTERED NUMBER: 07938378















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

SOLA ASSOCIATES LIMITED

SOLA ASSOCIATES LIMITED (REGISTERED NUMBER: 07938378)






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




Page

Company information 1

Chartered accountants' report 2

Balance sheet 3

Notes to the financial statements 4


SOLA ASSOCIATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: M Sola





REGISTERED OFFICE: Suite LU.231
The Light Bulb
1 Filament Walk
Wandsworth
London
SW18 4GQ





REGISTERED NUMBER: 07938378





ACCOUNTANTS: Z group
Suite LU.231
The Light Bulb
1 Filament Walk
Wandsworth
London
SW18 4GQ

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SOLA ASSOCIATES LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance sheet. Readers are cautioned that the Income statement and certain other primary statements and the Report of the director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sola Associates Limited for the year ended 31 March 2024 which comprise the Income statement, Balance sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Sola Associates Limited in accordance with the terms of our engagement letter dated 19 April 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Sola Associates Limited and state those matters that we have agreed to state to the director of Sola Associates Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sola Associates Limited and its director for our work or for this report.

It is your duty to ensure that Sola Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sola Associates Limited. You consider that Sola Associates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sola Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Z group
Suite LU.231
The Light Bulb
1 Filament Walk
Wandsworth
London
SW18 4GQ


15 October 2024

SOLA ASSOCIATES LIMITED (REGISTERED NUMBER: 07938378)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,436 339

CURRENT ASSETS
Debtors 6 762 12,599
Cash at bank 26,840 31,494
27,602 44,093
CREDITORS
Amounts falling due within one year 7 14,005 32,197
NET CURRENT ASSETS 13,597 11,896
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,033

12,235

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 14,933 12,135
SHAREHOLDERS' FUNDS 15,033 12,235

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 October 2024 and were signed by:





M Sola - Director


SOLA ASSOCIATES LIMITED (REGISTERED NUMBER: 07938378)

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

1. STATUTORY INFORMATION

Sola Associates Limited is a private company, limited by shares , registered in Not specified/Other. 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. STATEMENT OF COMPLIANCE

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. This is the first year that the company has presented its financial statements in accordance with the above provisions. For financial years up to and including the year ended 31 March 2016 the company prepared its financial statements in accordance with the old UK GAAP.There were no changes to the previously reported results on transition to FRS 102.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover represents amounts receivable excluding value added tax for services provided and is recognised on delivery of those services to the customer.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Equipment, fixtures & fittings - 25% on cost
Motor vehicles - 25% on cost

Tangible fixed assets are included at cost less depreciation and impairment.

BASIC FINANCIAL INSTRUMENTS
Basic financial assets and financial liabilities that have no stated interest rate and are classified as payable or receivable within one year are measured at transaction price including transaction costs minus repayments of the principal and in the case of a financial asset minus any reduction for impairment and uncollectability.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

SOLA ASSOCIATES LIMITED (REGISTERED NUMBER: 07938378)

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

5. TANGIBLE FIXED ASSETS
Equipment,
fixtures Motor
& fittings vehicles Totals
£    £    £   
COST
At 1 April 2023 6,168 7,000 13,168
Additions 1,316 - 1,316
Disposals (5,507 ) - (5,507 )
At 31 March 2024 1,977 7,000 8,977
DEPRECIATION
At 1 April 2023 5,829 7,000 12,829
Charge for year 219 - 219
Eliminated on disposal (5,507 ) - (5,507 )
At 31 March 2024 541 7,000 7,541
NET BOOK VALUE
At 31 March 2024 1,436 - 1,436
At 31 March 2023 339 - 339

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 600 12,437
Tax 162 162
762 12,599

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Social security and other taxes 160 139
VAT 309 2,621
Other creditors 624 647
Directors' current accounts 10,312 26,290
Accruals and deferred income 2,600 2,500
14,005 32,197