REGISTERED NUMBER: |
Audited Financial Statements |
For The Period 16 November 2023 to 30 September 2024 |
for |
Solais Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
INDEPENDENT AUDITORS: |
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 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) |
( |
) |
The financial statements were approved by the Board of Directors and authorised for issue on |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
The company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
Registered office: Solais House 19 Phoenix Crescent, Strathclyde Business Park, Bellshill, Scotland, ML4 3NJ |
Nature of business: |
% |
Class of shares: | holding |
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 |
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 |
Intercompany loan | 45,951,379 |
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. |
for and on behalf of |
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 |