Solomon Property Developments Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 05762617

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		-		642

			-		642
CURRENT ASSETS
Stocks	5	-		66,000
Debtors	6	115,500		1,791
Cash at bank and in hand		294		1,757

		115,794		69,548
Creditors: Amounts Falling Due Within One Year	7	(94,716 )		(3,174 )

NET CURRENT ASSETS (LIABILITIES)			21,078		66,374

TOTAL ASSETS LESS CURRENT LIABILITIES			21,078		67,016

Creditors: Amounts Falling Due After More Than One Year	8		-		(28,506 )

NET ASSETS			21,078		38,510

CAPITAL AND RESERVES
Called up share capital	10		1		1
Profit and Loss Account			21,077		38,509

SHAREHOLDERS' FUNDS			21,078		38,510

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Solomon Property Developments Limited

Balance Sheet (continued)

As At 31 March 2024

For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Gary Snowzell

Director

23/12/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Solomon Property Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05762617 . The registered office is SME House, Holme Lacy Industrial Estate, Hereford, HR2 6DR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: 1)

4. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 April 2023	642
Disposals	(642 )

As at 31 March 2024	-

Net Book Value
As at 31 March 2024	-

As at 1 April 2023	642

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Solomon Property Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2024

5. Stocks

	2024	2023
	£	£
Stock	-	66,000

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	115,500	-
Other debtors	-	1,791

	115,500	1,791

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	1,555	2,674
Other creditors	81,064	500
Taxation and social security	12,097	-

	94,716	3,174

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Other loans	-	28,506

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

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