SOLOMON INVESTMENTS LIMITED

Company Registration Number:
06138244 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

SOLOMON INVESTMENTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2024

Balance sheet
Notes

SOLOMON INVESTMENTS LIMITED

Balance sheet

As at 31 May 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 703,254 580,034
Total fixed assets: 703,254 580,034
Current assets
Stocks: 9,400 12,250
Debtors:   413,635 297,100
Cash at bank and in hand: 72,172 94,702
Investments:   11,068 11,068
Total current assets: 506,275 415,120
Creditors: amounts falling due within one year:   (191,534) (109,142)
Net current assets (liabilities): 314,741 305,978
Total assets less current liabilities: 1,017,995 886,012
Creditors: amounts falling due after more than one year:   (227,843) (281,400)
Provision for liabilities: (30,902)
Total net assets (liabilities): 759,250 604,612
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 758,250 603,612
Shareholders funds: 759,250 604,612

The notes form part of these financial statements

SOLOMON INVESTMENTS LIMITED

Balance sheet statements

For the year ending 31 May 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 24 February 2025
and signed on behalf of the board by:

Name: Andrew Richards
Status: Director

The notes form part of these financial statements

SOLOMON INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Investment properties At fair value Equipment 20% reducing balance. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value. Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Valuation and information policy

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition

SOLOMON INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

2. Employees

2024 2023
Average number of employees during the period 14 14

SOLOMON INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible Assets

Total
Cost £
At 01 June 2023 760,913
Additions 17,478
Revaluations 124,056
At 31 May 2024 902,447
Depreciation
At 01 June 2023 180,879
Charge for year 18,314
At 31 May 2024 199,193
Net book value
At 31 May 2024 703,254
At 31 May 2023 580,034

SOLOMON INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Related party transactions

Name of the related party:
Relationship:
see below
Description of the Transaction: Director A Richards has a 50% shareholding in the company Capsol Investments Ltd and funds have been loaned to this company in order to finance startup costs. The loan was made under a loan agreement on fully commercial terms.
£
Balance at 01 June 2023 283,600
Balance at 31 May 2024 349,600