Registered number
10241291
SOLIDUM SOLICITORS LIMITED
Filleted Accounts
29 February 2024
SOLIDUM SOLICITORS LIMITED
Registered number: 10241291
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 20,542 23,322
Current assets
Debtors 4 87,691 35,142
Cash at bank and in hand 590,810 901,640
678,501 936,782
Creditors: amounts falling due within one year 5 (654,289) (910,373)
Net current assets 24,212 26,409
Total assets less current liabilities 44,754 49,731
Creditors: amounts falling due after more than one year 6 (33,882) (39,498)
Net assets 10,872 10,233
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 872 233
Shareholders' funds 10,872 10,233
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Paulinus Puvindran Masilamany
Director
Approved by the board on 14 August 2024
SOLIDUM SOLICITORS LIMITED
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
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.
Provisions
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 7
3 Tangible fixed assets
Plant and machinery etc Furniture and Fixtures Total
£ £ £
Cost
At 1 March 2023 7,121 55,493 62,614
Additions 1,263 - 1,263
At 29 February 2024 8,384 55,493 63,877
Depreciation
At 1 March 2023 4,826 34,466 39,292
Charge for the year 889 3,154 4,043
At 29 February 2024 5,715 37,620 43,335
Net book value
At 29 February 2024 2,669 17,873 20,542
At 28 February 2023 2,295 21,027 23,322
4 Debtors 2024 2023
£ £
Trade debtors 30,594 29,610
Other debtors 57,097 5,532
87,691 35,142
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 32,284 34,650
Client trust account liabilities 561,177 848,272
Other creditors 60,828 27,451
654,289 910,373
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 33,882 39,498
7 Controlling party
The company is controlled by its director who owns 100% of the company's share capital.
8 Other information
SOLIDUM SOLICITORS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:316 Northolt Road, Harrow HA2 8EE.
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