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SOLOMON (LISKEARD) LIMITED

Registered Number
00603247
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

SOLOMON (LISKEARD) LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

SOLOMON, Andrew Jonathan
SOLOMON, Caleb Luke
SOLOMON, Joshua Kyle

Company Secretary

SOLOMON, Pamela Jean

Registered Address

Trevithick House
Moorswater
Liskeard
PL14 4LH

Registered Number

00603247 (England and Wales)
SOLOMON (LISKEARD) LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets34,312,9324,317,628
4,312,9324,317,628
Current assets
Stocks4384,103419,104
Debtors5578,082863,343
Cash at bank and on hand376,164257,613
1,338,3491,540,060
Creditors amounts falling due within one year6(153,450)(163,719)
Net current assets (liabilities)1,184,8991,376,341
Total assets less current liabilities5,497,8315,693,969
Provisions for liabilities(7,023)(7,798)
Net assets5,490,8085,686,171
Capital and reserves
Revaluation reserve1,524,8041,524,804
Profit and loss account3,966,0044,161,367
Shareholders' funds85,490,8085,686,171
The financial statements were approved and authorised for issue by the Board of Directors on 20 May 2025, and are signed on its behalf by:
SOLOMON, Andrew Jonathan
Director
Registered Company No. 00603247
SOLOMON (LISKEARD) LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery15
Vehicles25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year1314
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 September 234,280,000220,67387,6574,588,330
Additions-1,874-1,874
At 31 August 244,280,000222,54787,6574,590,204
Depreciation and impairment
At 01 September 23-189,49681,206270,702
Charge for year-4,9571,6136,570
At 31 August 24-194,45382,819277,272
Net book value
At 31 August 244,280,00028,0944,8384,312,932
At 31 August 234,280,00031,1776,4514,317,628
4.Stocks

2024

2023

££
Finished goods384,103419,104
Total384,103419,104
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables7,3934,810
Other debtors533,025702,128
Prepayments and accrued income37,664156,405
Total578,082863,343
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables56,81186,366
Taxation and social security48,88830,520
Other creditors42,97741,229
Accrued liabilities and deferred income4,7745,604
Total153,450163,719
7.Directors advances, credits and guarantees
As at 31 August 2024 there was a balance owed to the company by the directors of £287,521 (2023: 449,084).
8.Revaluation reserve

£
Reserve at 01 September 231,524,804
At 31 August 241,524,804