Registration number: 14891040

Solacap UK Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 8

Solacap UK Ltd

Company Information

Directors

Andrea Arcangeli Alexander Hepburn

Registered office

1-3 Whittlesey Street London England United Kingdom SE1 8SZ

Auditors

Carbon Accountancy Limited Chartered Accountants and Registered Auditors80-83 Long Lane London EC1A 9ET

Solacap UK Ltd

(Registration number: 14891040)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Investments	4	2	2
Current assets
Debtors	5	1,404,400	1,398,990
Cash at bank and in hand		13,219	-
		1,417,619	1,398,990
Creditors: Amounts falling due within one year	6	(11,000)	(1,413,535)
Net current assets/(liabilities)		1,406,619	(14,545)
Total assets less current liabilities		1,406,621	(14,543)
Creditors: Amounts falling due after more than one year	6	(1,510,767)	-
Net liabilities		(104,146)	(14,543)
Capital and reserves
Called up share capital	7	1	1
Retained earnings		(104,147)	(14,544)
Shareholders' deficit		(104,146)	(14,543)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 November 2025 and signed on its behalf by:
 

......................................... Andrea Arcangeli Director

......................................... Alexander Hepburn Director

Solacap UK Ltd

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

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1-3 Whittlesey Street
London
England
SE1 8SZ
United Kingdom

These financial statements were authorised for issue by the Board on 3 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

The financial statements have been prepared under the historical cost convention. The principal accounting policies have been set out below.

Group accounts not prepared

The company is the parent entity of a group but has not prepared consolidated financial statements. This is in accordance with the exemption available under section 399 of the Companies Act 2006, as the group qualifies as a small group.

Going concern

There was a net deficiency of assets amounting to £104,146 (2023: £14,543), which included an amount of £1,510,767 (2023: £1,384,231) owed to the parent entity Solarig Global Service S.A .The parent company has confirmed that it will not seek repayment of this debt until the company is in a position to repay it. Based on the director's assessment of future performance and continued support from the parent company the directors have prepared the accounts on a going basis.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 3 November 2025 was John Leyden FCA, who signed for and on behalf of Carbon Accountancy Limited.

Solacap UK Ltd

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investment are measured at cost less impairment. Dividends in equity securities ae recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade and other debtors are initially recognised at the transaction price and subsequently measured using the amortised cost method which uses the effective interest method. At each balance sheet date the directors assess trade and other debtors for indicators of impairment and where amounts are not deemed recoverable, a specific bad debt provision is recognised.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Solacap UK Ltd

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0). The Directors were remunerated by the parent company, Solarig Global Services, S.A and there is no recharge to the Company. The Directors also act as directors for a number of fellow subsidiaries, and so it is not possible to make an accurate apportionment of their remuneration in respect of each of the subsidiaries.

4	Investments

	2024 £	2023 £
Investments in subsidiaries	2	2