REGISTERED NUMBER: 03908479

Financial Statements

for the Period 1 June 2024 to 31 March 2025

for

Solo Petroleum Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M D Goodwin

N J Goodwin

REGISTERED OFFICE:

Carlton House Gores Road

Knowsley Industrial Park

Liverpool

L33 7XS

REGISTERED NUMBER:

03908479

AUDITORS:

SB&P

Chartered Accountants & Statutory Auditors

Oriel House

2-8 Oriel Road

Bootle

Liverpool

Merseyside

L20 7EP

FIXED ASSETS

Tangible assets

4

-

432,063

Investment property

5

-

150,000

-

582,063

CURRENT ASSETS

Stocks

-

68,196

Debtors

6

322,030

207,640

Cash at bank and in hand

-

309,611

322,030

585,447

CREDITORS

Amounts falling due within one year

7

-

269,972

NET CURRENT ASSETS

322,030

315,475

TOTAL ASSETS LESS CURRENT LIABILITIES

322,030

897,538

PROVISIONS FOR LIABILITIES

-

46,716

NET ASSETS

322,030

850,822

CAPITAL AND RESERVES

Called up share capital

8

100,000

100,000

Revaluation reserve

9

157,116

157,116

Fair value reserve

9

64,914

64,914

Retained earnings

9

-

528,792

SHAREHOLDERS' FUNDS

322,030

850,822

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2025 and were signed on its behalf by:

N J Goodwin - Director

1.	STATUTORY INFORMATION

Solo Petroleum Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statement have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on a basis other than going concern. Following the acquisition of the company by Standard Group Holdings Limited, its trade and assets were transferred to a fellow group undertaking on 31 March 2025. The company has ceased to trade and it is the intention of the directors that the company will be struck off in due course. Accordingly, the financial statements have not been prepared on a going concern basis. Assets and liabilities have been stated at their recoverable and settlement amounts respectively.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

10% on cost and 2% on cost

Plant and machinery

-

20% on cost and 10% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation, rather than for use in the company's operations.

In accordance with FRS 102 Section 16, investment properties are initially measured at cost, including transaction costs, and subsequently measured at fair value at each reporting date, with changes in fair value recognised in the profit and loss account.

Fair value is determined based on market evidence at the reporting date by an independent valuer or, where appropriate, by the directors using observable market data.

No depreciation is charged on investment properties which are carried at fair value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Freehold property - transition to frs 102

On transition to FRS 102, the company elected to measure its freehold property at its fair value as at the date of transition, and to use that amount as deemed cost in accordance with the exemption available under FRS 102 Section 35.10(c).

Following transition, the freehold property is carried at deemed cost less accumulated depreciation and any accumulated impairment losses. No further revaluations are undertaken.

Depreciation is provided on a straight-line basis over the estimated useful life of the property, between 10 and 50 years.

Revaluation reserve

This reserve is not available for distribution and is adjusted only on disposal of the property or when the gain becomes realised.

Fair value reserve

Unrealised gains and losses arising from changes in the fair value of investment properties are recognised in the profit and loss account. To the extent that a gain is recognised, an equivalent amount is transferred from retained earnings to a non-distributable fair value reserve within equity, to comply with the requirements of company law regarding distributable profits.

This reserve is not available for distribution and is adjusted only on disposal of the property or when the gain becomes realised.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 June 2024

400,913

145,938

29,990

190,265

767,106

Additions

-

1,257

-

-

1,257

Disposals

(400,913

)

(147,195

)

(29,990

)

(190,265

)

(768,363

)

At 31 March 2025

-

-

-

-

-

DEPRECIATION

At 1 June 2024

72,193

121,214

27,907

113,729

335,043

Charge for period

8,691

7,982

858

23,513

41,044

Eliminated on disposal

(80,884

)

(129,196

)

(28,765

)

(137,242

)

(376,087

)

At 31 March 2025

-

-

-

-

-

NET BOOK VALUE

At 31 March 2025

-

-

-

-

-

At 31 May 2024

328,720

24,724

2,083

76,536

432,063

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2024

150,000

Disposals

(150,000

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 May 2024

150,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.5.24

(Unaudited)

£

£

Trade debtors

-

155,425

Amounts owed by group undertakings

322,030

-

VAT

-

16,347

Prepayments and accrued income

-

35,868

322,030

207,640

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.5.24

(Unaudited)

£

£

Trade creditors

-

233,453

Tax

-

19,062

Social security and other taxes

-

5,807

Pensions

-

6,233

Other creditors

-

345

Accruals and deferred income

-

5,072

-

269,972

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.5.24

value:

£

£

100,000

Ordinary

£1

100,000

100,000

9.

RESERVES

Fair

Retained

Revaluation

value

earnings

reserve

reserve

Totals

£

£

£

£

At 1 June 2024

528,792

157,116

64,914

750,822

Profit for the period

80,181

80,181

Dividends

(608,973

)

(608,973

)

At 31 March 2025

-

157,116

64,914

222,030

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

We draw attention to the Basis of Preparation within the Accounting Policies to the financial statements, which explains that the financial statements have been prepared on a basis other than going concern as it is intended that the company will be struck off.

Our opinion is not modified in respect of this matter.

Suzanne Draper FCCA ACA (Senior Statutory Auditor)

for and on behalf of SB&P

11.	RELATED PARTY DISCLOSURES

Dividends paid to former shareholders

Prior to the acquisition of the company by Standard Group Holdings Limited on 21 March 2025, dividends of £41,300 were declared and paid to the previous shareholders, who were related parties of the company until the date of acquisition.

Dividend paid to group undertaking

During the year, a dividend of £567,673 was declared to Standard Group Holdings Limited. This transaction formed part of a group restructuring in which the company's trade and assets were hived up to Standard Fuel Oils.

No other transactions with related parties occurred during the year that require disclosure.

12.	ULTIMATE CONTROLLING PARTY

From 21 March 2025, the ultimate controlling party is Standard Group Holdings Limited. Prior to this date the ultimate controlling party was A D Hayle.