Company registration number 14268635 (England and Wales)
SOLGELICA LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
SOLGELICA LTD
COMPANY INFORMATION
Directors
Dr F Ismail
Sol-Gel Materials & Applications Ltd
Company number
14268635
Registered office
B1093A Galley Drive
Kent Science Park
Sittingbourne
Kent
ME9 8GA
Accountants
Goldblatts
4th Floor
4 Tabernacle Street
London
EC2A 4LU
Business address
B1093A Galley Drive
Kent Science Park
Sittingbourne
Kent
ME9 8GA
SOLGELICA LTD
CONTENTS
Page
Directors' report
1
Accountants' report
2
Balance sheet
3
Notes to the financial statements
4 - 5
SOLGELICA LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -
The directors present their annual report and financial statements for the year ended 31 December 2024.
Principal activities
The company is currently dormant and has never traded.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Dr F Ismail
Sol-Gel Materials & Applications Ltd
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Dr F Ismail
Director
14 May 2025
SOLGELICA LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOLGELICA LTD FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Solgelica Ltd for the year ended 31 December 2024 which comprise, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Solgelica Ltd, as a body, in accordance with the terms of our engagement letter dated 28 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Solgelica Ltd and state those matters that we have agreed to state to the board of directors of Solgelica Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Solgelica Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Solgelica Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Solgelica Ltd. You consider that Solgelica Ltd 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 financial statements of Solgelica Ltd. 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 financial statements.
Goldblatts
16 May 2025
Chartered Accountants
4th Floor
4 Tabernacle Street
London
EC2A 4LU
SOLGELICA LTD
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 3 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
1
1
Net current assets
1
1
Capital and reserves
Called up share capital
1
1
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 14 May 2025 and are signed on its behalf by:
Dr F Ismail
Director
Company registration number 14268635 (England and Wales)
SOLGELICA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information
Solgelica Ltd is a private company limited by shares incorporated in England and Wales. The registered office is B1093A Galley Drive, Kent Science Park, Sittingbourne, Kent, ME9 8GA.
1.1
Reporting period
The company was incorporated on the 1st August 2022, the companies year end was then changed to coincide with the Parent company.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Profit and loss account
The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
SOLGELICA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1
1
The amounts owed to group undertakings are interest free, with no security and no fixed repayment terms.
4
Parent company
The ultimate parent company of Solgelica Ltd is Sol-Gel Materials & Applications Ltd . The registered office is B1093A Galley Drive, Kent Science Park, Sittingbourne, Kent ME9 8GA.