COMPANY REGISTRATION NUMBER:
13184968
|
SOLOMON ENTERTAINMENT LTD |
|
|
Filleted Unaudited Abridged Financial Statements |
|
|
SOLOMON ENTERTAINMENT LTD |
|
|
Abridged Statement of Financial Position |
|
31 December 2024
Fixed assets
|
Tangible assets |
5 |
– |
44,370 |
|
|
|
|
Current assets
|
Stocks |
– |
31,818 |
|
Debtors |
2,839 |
102,447 |
|
Cash at bank and in hand |
8,039 |
349,802 |
|
-------- |
--------- |
|
10,878 |
484,067 |
|
|
|
|
Creditors: amounts falling due within one year |
1,202,803 |
760,957 |
|
------------ |
--------- |
|
Net current liabilities |
1,191,925 |
276,890 |
|
------------ |
--------- |
|
Total assets less current liabilities |
(
1,191,925) |
(
232,520) |
|
------------ |
--------- |
|
Net liabilities |
(
1,191,925) |
(
232,520) |
|
------------ |
--------- |
|
|
|
Capital and reserves
|
Called up share capital |
1 |
1 |
|
Profit and loss account |
(
1,191,926) |
(
232,521) |
|
------------ |
--------- |
|
Shareholders deficit |
(
1,191,925) |
(
232,520) |
|
------------ |
--------- |
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.
|
SOLOMON ENTERTAINMENT LTD |
|
|
Abridged Statement of Financial Position (continued) |
|
31 December 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
25 September 2025
, and are signed on behalf of the board by:
Company registration number:
13184968
|
SOLOMON ENTERTAINMENT LTD |
|
|
Notes to the Abridged Financial Statements |
|
Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Redbridge Lane East, Ilford, IG4 5ET.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents the amount derived from the provision of goods and services falling within the company's activities after discounts and value added tax. Sales of goods are recognised when the goods are provided and the title has passed. Admission and services revenue is recognised when the service is provided.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Short leasehold property |
- |
Over the term of lease |
|
Fixtures and fittings |
- |
20% reducing balance basis
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
48
(2023:
48
).
5.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 January 2024 |
59,896 |
|
Additions |
210,879 |
|
Disposals |
(
270,775) |
|
--------- |
|
At 31 December 2024 |
– |
|
--------- |
|
Depreciation |
|
|
At 1 January 2024 |
15,526 |
|
Disposals |
(
15,526) |
|
--------- |
|
At 31 December 2024 |
– |
|
--------- |
|
Carrying amount |
|
|
At 31 December 2024 |
– |
|
--------- |
|
At 31 December 2023 |
44,370 |
|
--------- |
|
|
6.
Related party transactions
During the year the company paid £Nil (2023 - £193,940) as franchise fees to an associated company where the director
Mr S Khan
is sole director and shareholder.