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Company Registration No. 09137352 (England and Wales)
Solosy Wealth Management Ltd Unaudited accounts for the year ended 31 July 2024
Solosy Wealth Management Ltd Unaudited accounts Contents
Page
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Solosy Wealth Management Ltd Company Information for the year ended 31 July 2024
Directors
John Solosy Rhianna Solosy
Company Number
09137352 (England and Wales)
Registered Office
USKELY COURT NEWPORT ROAD ST. MELLONS CARDIFF CF3 2WJ
Accountants
Saccounts Limited 190 Cathedral Road Cardiff CF11 9JE
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Solosy Wealth Management Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
542 
677 
Current assets
Debtors
29,244 
24,052 
Cash at bank and in hand
32,657 
64,824 
61,901 
88,876 
Creditors: amounts falling due within one year
(17,870)
(22,531)
Net current assets
44,031 
66,345 
Total assets less current liabilities
44,573 
67,022 
Provisions for liabilities
Deferred tax
(114)
(142)
Net assets
44,459 
66,880 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
44,359 
66,780 
Shareholders' funds
44,459 
66,880 
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2024 and were signed on its behalf by
John Solosy Director Company Registration No. 09137352
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Solosy Wealth Management Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Solosy Wealth Management Ltd is a private company, limited by shares, registered in England and Wales, registration number 09137352. The registered office is USKELY COURT NEWPORT ROAD, ST. MELLONS, CARDIFF, CF3 2WJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Intangible fixed assets - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated useful life of 5 years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% straight line
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Solosy Wealth Management Ltd Notes to the Accounts for the year ended 31 July 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 August 2023
115,973 
At 31 July 2024
115,973 
Amortisation
At 1 August 2023
115,973 
At 31 July 2024
115,973 
Net book value
At 31 July 2024
- 
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 August 2023
5,940 
At 31 July 2024
5,940 
Depreciation
At 1 August 2023
5,263 
Charge for the year
135 
At 31 July 2024
5,398 
Net book value
At 31 July 2024
542 
At 31 July 2023
677 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
29,244 
22,510 
Other debtors
- 
1,542 
29,244 
24,052 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
9,593 
19,876 
Other creditors
1,660 
97 
Loans from directors
6,617 
2,558 
17,870 
22,531 
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Solosy Wealth Management Ltd Notes to the Accounts for the year ended 31 July 2024
8
Transactions with related parties
During the year, the directors used the company current account to record the amounts due to them and drawn by them. At the end of the year, that balance owed to the directors was £6,617 (2023: £2,557). During the year, the company paid the directors dividends totalling £56,000 (2023: £60,000).
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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