Soliman Investments Ltd - Period Ending 2023-03-31
Soliman Investments Ltd - Period Ending 2023-03-31
Registration number:
Report of the Director and
for the
Year Ended 31 March 2023
for
Soliman Investments Ltd
Soliman Investments Ltd
Contents of the Financial Statements
for the Year Ended 31 March 2023
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Soliman Investments Ltd
Company Information
for the Year Ended 31 March 2023
Director: |
M Soliman |
Registered office: |
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Registered number: |
10919024 |
Accountants: |
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Soliman Investments Ltd
(Registration number: 10919024)
Balance Sheet as at 31 March 2023
Note |
31.03.23 |
31.03.22 |
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£ |
£ |
£ |
£ |
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FIXED ASSETS |
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Investment property |
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Investments |
- |
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CURRENT ASSETS |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
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Creditors within 1yr |
1,846 |
2,500 |
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Net current assets |
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Total assets less current liabilities |
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Creditors
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PROVISIONS FOR LIABILITIES |
( |
( |
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Net assets |
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CAPITAL AND RESERVES |
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Called up share capital |
1 |
1 |
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Other reserves |
33,433 |
33,433 |
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Profit and loss account |
(26,664) |
(17,316) |
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Shareholders' funds |
6,770 |
16,118 |
For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Soliman Investments Ltd
(Registration number: 10919024)
Balance Sheet as at 31 March 2023 (continued)
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Soliman Investments Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023
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:
England
These financial statements were authorised for issue by the
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
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency is Pound Sterling (£).
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Soliman Investments Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023 (continued)
2 |
Accounting policies (continued) |
Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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
Investment property
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
3. |
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
4. |
TAXABLE LOSSES |
The taxable losses to be carried forward are £26,877 (2022: £17,315).
Soliman Investments Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023 (continued)
5. |
Investment properties |
31.03.23 |
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At 1 April |
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At 31 March |
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The property was revalued at the year on an open market basis by the director.
6. |
Investments |
31.03.23 |
31.03.22 |
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Investments in subsidiaries |
- |
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Subsidiaries |
£ |
Cost or valuation |
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Carrying amount |
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At 31 March 2023 |
- |
At 31 March 2022 |
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7. |
Debtors |
Current |
31.03.23 |
31.03.22 |
Prepayments |
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Soliman Investments Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023 (continued)
8. |
Creditors |
Creditors: amounts falling due within one year
Note |
31.03.23 |
31.03.22 |
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Due within one year |
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Loans and borrowings |
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Accruals and deferred income |
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Other creditors |
- |
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Creditors: amounts falling due after more than one year
31.03.23 |
31.03.22 |
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Due after one year |
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Loans and borrowings |
268,404 |
269,256 |
Directors' loan accounts |
114,473 |
105,829 |
382,877 |
375,085 |
31.03.23 |
31.03.22 |
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Due after more than five years |
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After more than five years not by instalments |
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- |
- |
9. |
Related party transactions |
At the balance sheet date, the company owed the director £114,473. The loan is repayable on demand and no interest or repayment terms have been set.