REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
SOLANUM HOLDINGS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
SOLANUM HOLDINGS LIMITED |
SOLANUM HOLDINGS LIMITED (REGISTERED NUMBER: R0000165) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 4 |
Notes to the Financial Statements | 5 | to | 8 |
SOLANUM HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
17 Clarendon Road |
Clarendon Dock |
Belfast |
BT1 3BG |
SOLANUM HOLDINGS LIMITED (REGISTERED NUMBER: R0000165) |
BALANCE SHEET |
31 JULY 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Non-distributable reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
SOLANUM HOLDINGS LIMITED (REGISTERED NUMBER: R0000165) |
BALANCE SHEET - continued |
31 JULY 2024 |
SOLANUM HOLDINGS LIMITED (REGISTERED NUMBER: R0000165) |
BALANCE SHEET - continued |
31 JULY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
SOLANUM HOLDINGS LIMITED (REGISTERED NUMBER: R0000165) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
1. | STATUTORY INFORMATION |
Solanum Holdings Limited is a private company, limited by shares, registered in Northern Ireland. The company's registered number, registered office address and business address can be found on the Company Information page. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In preparing these financial statements the Directors have made the following judgements: |
Establish whether there are any indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Tangible fixed assets which include biological assets are measured at cost less any accumulated depreciation and any accumulated impairment losses. Depreciation is not provided for in respect of land and biological assets. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
All financial instruments of the company are considered to meet the definition of basic financial instruments. |
- Short term debtors and creditors |
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account. |
- Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
SOLANUM HOLDINGS LIMITED (REGISTERED NUMBER: R0000165) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Land and | Fixtures, |
biological | fittings |
assets | & equipment | Totals |
£ | £ | £ |
COST |
At 1 August 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Eliminated on disposal | ( |
) | ( |
) |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Land and biological assets comprises land and trees in plantations. |
6. | FIXED ASSET INVESTMENTS |
31.7.24 | 31.7.23 |
£ | £ |
Other investments not loans | 266,013 | 243,366 |
SOLANUM HOLDINGS LIMITED (REGISTERED NUMBER: R0000165) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
6. | FIXED ASSET INVESTMENTS - continued |
Additional information is as follows: |
Other |
investments |
£ |
COST OR VALUATION |
At 1 August 2023 |
Additions |
Disposals | ( |
) |
Revaluations |
At 31 July 2024 | 258,457 |
NET BOOK VALUE |
At 31 July 2024 | 258,457 |
At 31 July 2023 | 239,400 |
Investments (neither listed nor unlisted) were as follows: |
31.7.24 | 31.7.23 |
£ | £ |
Cash held as part of |
investments | 7,556 | 3,966 |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2023 |
and 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Investment property comprises a number of commercial properties that are leased to third parties. |
The fair value of the investment property was determined by external, independent property valuers, having appropriate recognised professional qualifications and recent experience in the location and category of the the properties being valued.The properties were valued on the basis of fair value in accordance with RICS Valuation - Global Standards as published by The Royal Institution of Chartered Surveyors. |
The directors have reviewed the market value of the properties and consider that there has been no material appreciation or diminution in value of the properties since revaluation in 2019. |
SOLANUM HOLDINGS LIMITED (REGISTERED NUMBER: R0000165) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade debtors |
Prepayments & accrued income |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Tax |
Social security and other taxes |
VAT | 5,671 | 7,432 |
Other creditors |
Directors' current accounts | - | 1,575 |
Accruals and deferred income |
Deferred government grants |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Deferred government grants |
11. | PROVISIONS FOR LIABILITIES |
31.7.24 | 31.7.23 |
£ | £ |
Deferred tax | 164,794 | 164,794 |
Deferred |
tax |
£ |
Balance at 1 August 2023 |
Balance at 31 July 2024 |