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REGISTERED NUMBER: 11023639 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Solus Properties Limited

Solus Properties Limited (Registered number: 11023639)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Solus Properties Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr C Talbot
Mr J C Grove





SECRETARY:





REGISTERED OFFICE: 5 Commando Works
Forge Lane
Cradley Heath
West Midlands
B64 5AL





REGISTERED NUMBER: 11023639 (England and Wales)





ACCOUNTANTS: Norman C Sands Limited
Chartered Accountants
333 Hagley Road
Pedmore
Stourbridge
West Midlands
DY9 0RF

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Solus Properties Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Solus Properties Limited for the year ended 31 October 2024 which comprise the Income Statement, Statement of Financial Position 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Solus Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Solus Properties Limited and state those matters that we have agreed to state to the Board of Directors of Solus Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Solus Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Solus Properties Limited 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 profit of Solus Properties Limited. You consider that Solus Properties 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 financial statements of Solus Properties 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 financial statements.






Norman C Sands Limited
Chartered Accountants
333 Hagley Road
Pedmore
Stourbridge
West Midlands
DY9 0RF


25 March 2025

Solus Properties Limited (Registered number: 11023639)

Statement of Financial Position
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 115,032 115,032

CURRENT ASSETS
Debtors 5 156 136
Cash at bank and in hand 7,463 24,878
7,619 25,014
CREDITORS
Amounts falling due within one year 6 103,297 84,193
NET CURRENT LIABILITIES (95,678 ) (59,179 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,354

55,853

CREDITORS
Amounts falling due after more than one
year

7

-

43,444
NET ASSETS 19,354 12,409

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 19,254 12,309
SHAREHOLDERS' FUNDS 19,354 12,409

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Solus Properties Limited (Registered number: 11023639)

Statement of Financial Position - continued
31 October 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





Mr C Talbot - Director


Solus Properties Limited (Registered number: 11023639)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

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

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.

Turnover
Turnover comprises rental income receivable from investment properties. Rental income is recognised when it is due under the terms of the lease.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property, which is held to earn rentals and/or for capital appreciation, is initially recognised at cost which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit and loss.

Taxation
Taxation for the year 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.

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 year 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 year was NIL (2023 - NIL).

Solus Properties Limited (Registered number: 11023639)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 115,032
NET BOOK VALUE
At 31 October 2024 115,032
At 31 October 2023 115,032

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Other debtors 156 136

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts - 3,932
Amounts owed to associates 99,945 74,033
Taxation and social security 1,592 2,912
Other creditors 1,760 3,316
103,297 84,193

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans - 43,444

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 24,844

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Bank loans - 47,376

9. RELATED PARTY DISCLOSURES

The company has two associated companies, JCG Auto's Limited and The Silverthorne Group Limited.

At 31 October 2024 the company owed JCG Auto's Limited £99,945.

Solus Properties Limited (Registered number: 11023639)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

10. CONTROLLING PARTY

The company is controlled by the directors who are the only shareholders.