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REGISTERED NUMBER: SC789494 (Scotland)















Audited Financial Statements

For The Period 16 November 2023 to 30 September 2024

for

Solais Limited

Solais Limited (Registered number: SC789494)






Contents of the Financial Statements
For The Period 16 November 2023 to 30 September 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


Solais Limited

Company Information
For The Period 16 November 2023 to 30 September 2024







DIRECTORS: T O'Hara C.A
A McDonald





REGISTERED OFFICE: Solais House 19 Phoenix Crescent
Strathclyde Business Park
Bellshill
United Kingdom
ML4 3NJ





REGISTERED NUMBER: SC789494 (Scotland)





INDEPENDENT AUDITORS: Robb Ferguson
Chartered Accountants & Statutory Auditors
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Solais Limited (Registered number: SC789494)

Abridged Statement of Financial Position
30 September 2024

Notes £    £   
FIXED ASSETS
Investments 4 58,128,407

CURRENT ASSETS
Debtors 6,773,560
Cash at bank 14
6,773,574
CREDITORS
Amounts falling due within one year 52,440,533
NET CURRENT LIABILITIES (45,666,959 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,461,448

CREDITORS
Amounts falling due after more than one year 15,750,000
NET LIABILITIES (3,288,552 )

CAPITAL AND RESERVES
Called up share capital 1,145
Share premium 237,175
Retained earnings (3,526,872 )
(3,288,552 )

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

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the period ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





T O'Hara C.A - Director


Solais Limited (Registered number: SC789494)

Notes to the Financial Statements
For The Period 16 November 2023 to 30 September 2024

1. STATUTORY INFORMATION

Solais Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

In spite of a net liability position, the accounts have been prepared on a going concern basis. The company is 100% owners of Kick ICT Group Limited who have a cash balance of £2,943k and retained earnings of £4,607k as at 30 September 2024. Therefore, as the net liability position could be cleared through a dividend, it is considered appropriate to prepare the accounts on a going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the period 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 statement of financial position date.


Solais Limited (Registered number: SC789494)

Notes to the Financial Statements - continued
For The Period 16 November 2023 to 30 September 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
Additions 58,128,407
At 30 September 2024 58,128,407
NET BOOK VALUE
At 30 September 2024 58,128,407

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Kick ICT Group Limited
Registered office: Solais House 19 Phoenix Crescent, Strathclyde Business Park, Bellshill, Scotland, ML4 3NJ
Nature of business: Information technology and consultancy
%
Class of shares: holding
Ordinary 100.00

5. LOANS

An analysis of the maturity of loans is given below:

£   
Amounts falling due between two and five years:
Other loans - 2-5 years 15,750,000

Solais Limited (Registered number: SC789494)

Notes to the Financial Statements - continued
For The Period 16 November 2023 to 30 September 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

£   
Other loans 15,750,000
Intercompany loan 45,951,379
61,701,379

GLAS Trust Corporation Limited hold a fixed and floating charge over all the property and undertaking of the company.

LDC (Managers) Limited hold a fixed and floating charge over all the property and undertaking of the company.

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Graham Cantlay CA (Senior Statutory Auditor)
for and on behalf of Robb Ferguson

8. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

9. ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is Solais Topco Limited, a company registered in
Scotland