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SOLLIP LTD

Registered Number
12145386
(England and Wales)

Unaudited Financial Statements for the Year ended
30 August 2024

SOLLIP LTD
Company Information
for the year from 31 August 2023 to 30 August 2024

Director

PARK, Woongchul

Registered Address

Unit 1 8 Melior Street
London
SE1 3QP

Registered Number

12145386 (England and Wales)
SOLLIP LTD
Balance Sheet as at
30 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets395,664134,447
95,664134,447
Current assets
Stocks28,51724,390
Debtors451,51451,258
Cash at bank and on hand169,352246,131
249,383321,779
Creditors amounts falling due within one year5(399,502)(386,572)
Net current assets (liabilities)(150,119)(64,793)
Total assets less current liabilities(54,455)69,654
Creditors amounts falling due after one year6(33,230)(38,535)
Net assets(87,685)31,119
Capital and reserves
Called up share capital100100
Profit and loss account(87,785)31,019
Shareholders' funds(87,685)31,119
The financial statements were approved and authorised for issue by the Director on 30 January 2025, and are signed on its behalf by:
PARK, Woongchul
Director
Registered Company No. 12145386
SOLLIP LTD
Notes to the Financial Statements
for the year ended 30 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows: Land and Building - 10% Straight Line Plant and Machinery - 25% Straight Line Fixtures and Fittings - 15% Straight Line Motor Vehicles - 20% Straight Line Office Equipment - 20% Straight Line
Stocks and work in progress
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.Average number of employees

20242023
Average number of employees during the year1011
3.Tangible fixed assets

Total

£
Cost or valuation
At 31 August 23217,465
At 30 August 24217,465
Depreciation and impairment
At 31 August 2383,018
Charge for year38,783
At 30 August 24121,801
Net book value
At 30 August 2495,664
At 30 August 23134,447
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,3349,165
Other debtors33,00033,000
Prepayments and accrued income17,1809,093
Total51,51451,258
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables14,00510,722
Amounts owed to related parties219,900219,900
Taxation and social security17,25426,202
Other creditors88,62681,358
Accrued liabilities and deferred income59,71748,390
Total399,502386,572
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts33,23038,535
Total33,23038,535
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
PARK, Woongchul219,90000219,900
219,90000219,900
This is an investment made by the director to the company.