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Logo On Report
Registered Number: 12150272
England and Wales

 

 

 

SOLOMON RESIDENTIALS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts Solomon Residentials Limited for the year ended 31 August 2024.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Solomon Residentials Limited for the year ended 31 August 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the Board of Directors of Solomon Residentials Limited , as a body, in accordance with the terms of our engagement letter dated 23 April 2025. Our work has been undertaken solely to prepare for your approval the accounts of Solomon Residentials Limited and state those matters that we have agreed to state to the Board of Directors of Solomon Residentials Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Solomon Residentials Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Solomon Residentials Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit Solomon Residentials Limited. You consider that Solomon Residentials Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Solomon Residentials Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
T & K Accounting Group
T & K Accounting Group

69 Banstead Road
Carshalton
SM5 3NP
23 April 2025
1
 
 
Notes
 
2024
£
  2023
£
Current assets      
Stocks 1,944,620    1,495,855 
Debtors 45,238    11,853 
Cash at bank and in hand 30,643    23,636 
2,020,501    1,531,344 
Creditors: amount falling due within one year (477,508)   (11,888)
Net current assets 1,542,993    1,519,456 
 
Total assets less current liabilities 1,542,993    1,519,456 
Creditors: amount falling due after more than one year (1,609,268)   (1,532,768)
Net assets (66,275)   (13,312)
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (66,276)   (13,313)
Shareholders' funds (66,275)   (13,312)
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 23 April 2025 and were signed by:


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Solomon Olayinka Olaniran
Director
2
General Information
Solomon Residentials Limited is a private company, limited by shares, registered in England and Wales, registration number 12150272, registration address 175 HIGH ROAD, ILFORD UNITED KINGDOM, IG1 1DG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Solomon Olayinka Olaniran

Average number of employees during the year was 1 (2023 : 1).
3