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REGISTERED NUMBER: 06634522 (England and Wales)















SOLID COMMERCIAL FINANCE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024






SOLID COMMERCIAL FINANCE LIMITED (REGISTERED NUMBER: 06634522)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024










Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


SOLID COMMERCIAL FINANCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTORS: P A Misner
J R Misner





REGISTERED OFFICE: 923 Finchley Road
Golders Green
London
NW11 7PE





REGISTERED NUMBER: 06634522 (England and Wales)





ACCOUNTANTS: Joseph Kahan Associates LLP
Chartered Accountants
923 Finchley Road
London
NW11 7PE

SOLID COMMERCIAL FINANCE LIMITED (REGISTERED NUMBER: 06634522)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31ST JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,911 523

CURRENT ASSETS
Cash at bank 34,816 24,967

CREDITORS
Amounts falling due within one year 32,045 22,465
NET CURRENT ASSETS 2,771 2,502
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,682

3,025

CAPITAL AND RESERVES
Called up share capital 5 100 100
Retained earnings 4,582 2,925
SHAREHOLDERS' FUNDS 4,682 3,025

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

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

SOLID COMMERCIAL FINANCE LIMITED (REGISTERED NUMBER: 06634522)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31ST JULY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 31st July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th November 2024 and were signed on its behalf by:





P A Misner - Director


SOLID COMMERCIAL FINANCE LIMITED (REGISTERED NUMBER: 06634522)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024


1. STATUTORY INFORMATION

Solid Commercial Finance 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 as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer and Equipment - 33.33% on cost

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

SOLID COMMERCIAL FINANCE LIMITED (REGISTERED NUMBER: 06634522)

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


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st August 2023 10,028
Additions 2,109
At 31st July 2024 12,137
DEPRECIATION
At 1st August 2023 9,505
Charge for year 721
At 31st July 2024 10,226
NET BOOK VALUE
At 31st July 2024 1,911
At 31st July 2023 523

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100