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REGISTERED NUMBER: 04251659 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

SOLLAND LIMITED

SOLLAND LIMITED (Registered number: 04251659)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOLLAND LIMITED

Company Information
for the Year Ended 29 February 2024







DIRECTORS: A Solland
G U Solland





SECRETARY:





REGISTERED OFFICE: 4 Quex Road
London
NW6 4PJ





REGISTERED NUMBER: 04251659 (England and Wales)





ACCOUNTANTS: Purcells, Chartered Accountants
4 Quex Road
London
NW6 4PJ

SOLLAND LIMITED (Registered number: 04251659)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,857 8,571
Investments 5 - -
6,857 8,571

CURRENT ASSETS
Stocks 549,900 448,900
Debtors 6 2,805,144 3,165,827
Cash at bank 298,489 46,681
3,653,533 3,661,408
CREDITORS
Amounts falling due within one year 7 1,532,972 1,252,767
NET CURRENT ASSETS 2,120,561 2,408,641
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,127,418

2,417,212

CREDITORS
Amounts falling due after more than one year 8 18,874 29,778
NET ASSETS 2,108,544 2,387,434

CAPITAL AND RESERVES
Called up share capital 9 4,351,000 4,351,000
Retained earnings 10 (2,242,456 ) (1,963,566 )
SHAREHOLDERS' FUNDS 2,108,544 2,387,434

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

SOLLAND LIMITED (Registered number: 04251659)

Balance Sheet - continued
29 February 2024


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by:





A Solland - Director


SOLLAND LIMITED (Registered number: 04251659)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

SOLLAND 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.

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
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured. Revenue 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with
ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 charged so as to allocate the cost of assets less their residual value over their
estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Leasehold property - straight line over the lease term
Equipment - 25% per annum reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted
prospectively if appropriate, or if there is an indication of a significant change since the last reporting
date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount
and are recognised in the statement of income and retained earnings.

SOLLAND LIMITED (Registered number: 04251659)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value after making due
allowance for obsolete and slow-moving items. Items exhibited in the showroom and other stock on
display and prototypes are written down to a nominal value as these are not intended for resale.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
Included in debtors is a significant sum due from a related company.The recovery of the debt depends upon the successful outcome of a legal claim against a third party and the directors are confident that the company will secure the monies owed. Accordingly, these accounts are being prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

SOLLAND LIMITED (Registered number: 04251659)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Land and
buildings Equipment Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 10,987 207,588 218,575
DEPRECIATION
At 1 March 2023 10,987 199,017 210,004
Charge for year - 1,714 1,714
At 29 February 2024 10,987 200,731 211,718
NET BOOK VALUE
At 29 February 2024 - 6,857 6,857
At 28 February 2023 - 8,571 8,571

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 601,000
PROVISIONS
At 1 March 2023
and 29 February 2024 601,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 1,775,932 2,012,759
Other debtors 202,948 331,804
Prepayments & accrued income 789,813 784,813
Tax recoverable 36,451 36,451
2,805,144 3,165,827

SOLLAND LIMITED (Registered number: 04251659)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 279,247 236,862
Amounts owed to group
undertakings - 27,067
Corporation tax 38,859 38,859
Other taxation &
social security 1,811 3,811
Other creditors 1,153,504 892,091
VAT 45,051 39,577
Accrued expenses 4,500 4,500
1,532,972 1,252,767

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans - 2-5 years 18,874 29,778

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
4,351,000 Ordinary £1 4,351,000 4,351,000

10. RESERVES
Retained
earnings
£   

At 1 March 2023 (1,963,566 )
Deficit for the year (278,890 )
At 29 February 2024 (2,242,456 )

11. RELATED PARTY TRANSACTIONS

The company has provided interest free, unsecured finance to a companies related by virtue of common
directors and shareholders. At the reporting date an amount of £2,697,190 (2023: £2,697,190) was owed
to the companies. The amount is repayable on demand.