Company No: 01979660 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	2,023,631		2,031,974
Investments	4	100		100
		2,023,731		2,032,074
Current assets
Debtors	5	680,484		576,226
Cash at bank and in hand		141,731		230,843
		822,215		807,069
Creditors: amounts falling due within one year	6	( 236,216)		( 409,194)
Net current assets		585,999		397,875
Total assets less current liabilities		2,609,730		2,429,949
Creditors: amounts falling due after more than one year	7	( 532,708)		( 435,208)
Provision for liabilities		( 7,107)		( 6,987)
Net assets		2,069,915		1,987,754
Capital and reserves
Called-up share capital	8	201		201
Profit and loss account		2,069,714		1,987,553
Total shareholder's funds		2,069,915		1,987,754

For the financial year ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Solent Projects (Southern) Limited (registered number: 01979660) were approved and authorised for issue by the Board of Directors on 08 December 2025. They were signed on its behalf by:

Mr P G Lister Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Solent Projects (Southern) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, Dorst, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 May 2024	1,995,202		41,127		51,421		2,087,750
At 30 April 2025	1,995,202		41,127		51,421		2,087,750
Accumulated depreciation
At 01 May 2024	0		32,626		23,150		55,776
Charge for the financial year	0		1,275		7,068		8,343
At 30 April 2025	0		33,901		30,218		64,119
Net book value
At 30 April 2025	1,995,202		7,226		21,203		2,023,631
At 30 April 2024	1,995,202		8,501		28,271		2,031,974

4. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 May 2024	100		100
At 30 April 2025	100		100
Carrying value at 30 April 2025	100		100
Carrying value at 30 April 2024	100		100

Investments in shares

The following were investments in shares of the Company:

Name of entity	Registered office	Principal activity	Class of shares	Ownership 30.04.2025	Held
Terard Ltd	Towngate House, 2-8 Parkstone Road, Poole, Dorset, United Kingdom, BH15 2PW	Property investment.	Ordimary	100.00%	Direct

5. Debtors

	2025		2024
	£		£
Other debtors	680,484		576,226

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	0		100,000
Corporation tax	27,685		25,870
Obligations under finance leases and hire purchase contracts (secured)	2,500		2,500
Other creditors	206,031		280,824
	236,216		409,194

Creditors include bank loans and overdrafts and obligations under finance leases and hire purchase contracts which are secured of £2,500 (2024 - £102,500).
Assets purchased under hire purchase contracts are secured by the asset to which the contract relates to.
Bank loans have a fixed and floating charge over the assets of the company.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	528,750		428,750
Obligations under finance leases and hire purchase contracts (secured)	3,958		6,458
	532,708		435,208

Creditors include bank loans and hire purchase contracts which are secured of £532,708 (2023 - £435,208).
Assets purchased under hire purchase contracts are secured by the asset to which the contract relates to.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each	200		200
1 Ordinary A share of £ 1.00	1		1
	201		201

9. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Key management	2,798		0

No interest has been charged on overdrawn loan amount