REGISTERED NUMBER: 09361671 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SOLMAA INVESTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S M Ruparelia

Mrs R S Ruparelia

REGISTERED OFFICE:

Unit 2

Charnwood Edge Business Park

Syston Road

Leicester

LE7 4UZ

REGISTERED NUMBER:

09361671 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

Unit 2 Charnwood Edge Business Park

Syston Road, Leicester

LE7 4UZ

Magma Audit LLP is part

Of the Dains Group

FIXED ASSETS

Investments

4

144,194

130,310

Investment property

5

2,341,976

1,852,064

2,486,170

1,982,374

CURRENT ASSETS

Debtors

6

77,976

7,507

Cash at bank

23,600

33,195

101,576

40,702

CREDITORS

Amounts falling due within one year

7

(1,087,409

)

(1,026,037

)

NET CURRENT LIABILITIES

(985,833

)

(985,335

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,500,337

997,039

PROVISIONS FOR LIABILITIES

(115,000

)

(2,600

)

NET ASSETS

1,385,337

994,439

CAPITAL AND RESERVES

Called up share capital

750,101

750,101

Retained earnings

8

635,236

244,338

1,385,337

994,439

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Mr S M Ruparelia - Director

1.	STATUTORY INFORMATION

Solmaa Investments Limited is a limited company, limited by shares, registered in England and Wales. Its registered office address is Unit 2, Charnwood Edge Business Park, Syston Road, Leicester, LE7 4UZ and the registered number is 09361671.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Companies Act 2006. The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value.

The presentation currency of the financial statements is pound sterling (£) and figures are rounded to the nearest £1.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The net assets of the company total £2,587,746 and net liabilities £1,090,243, included within net liabilities is a loan from the directors of £1,000,000, this has been confirmed as long term and will not be called on within the next 12 months. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured as rental income received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Investments

Investments which are held for capital appreciation are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently they are measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST OR VALUATION

At 1 January 2024

130,310

Additions

27,770

Disposals

(22,933

)

Revaluations

9,047

At 31 December 2024

144,194

NET BOOK VALUE

At 31 December 2024

144,194

At 31 December 2023

130,310

The listed investments are included at fair value.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

1,852,064

Additions

36,649

Revaluations

453,263

At 31 December 2024

2,341,976

NET BOOK VALUE

At 31 December 2024

2,341,976

At 31 December 2023

1,852,064

The properties were revalued at the year end by third party professional valuers and the directors on an open market value.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2017

10,172

Valuation in 2024

453,263

Cost

1,878,541

2,341,976

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

63,750

-

Other debtors

14,226

7,507

77,976

7,507

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

7,114

5,237

Taxation and social security

-

17,179

Other creditors

1,080,295

1,003,621

1,087,409

1,026,037

8.

RESERVES

Included in reserves are £500,683 (2023: £38,372) of non distributable reserves relating to the revaluation of investments and property.