Solace In Business Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03150254 (England and Wales)

Solace In Business Ltd

Financial Statements

for the Year Ended 31 March 2018

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs R E Hyde

Mrs T J McDougall

Mr J P Comber

Mr P J Simpkins

Mr P J Shackley

Mrs L A Champion

Mr G V McDonald

Ms J H White

SECRETARY:

Mrs R E Hyde

REGISTERED OFFICE:

Off Southgate

Pontefract

West Yorkshire

WF8 1NT

REGISTERED NUMBER:

03150254 (England and Wales)

AUDITORS:

Jolliffe Cork LLP

Chartered Accountants & Statutory Auditor

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Tangible assets

3

6,663

8,713

Investments

4

20

20

6,683

8,733

CURRENT ASSETS

Debtors

5

562,211

913,793

Cash at bank and in hand

722,961

505,219

1,285,172

1,419,012

CREDITORS

Amounts falling due within one year

6

836,582

1,091,473

NET CURRENT ASSETS

448,590

327,539

TOTAL ASSETS LESS CURRENT LIABILITIES

455,273

336,272

CAPITAL AND RESERVES

Called up share capital

8

19

19

Share premium

141,129

141,129

Retained earnings

314,125

195,124

SHAREHOLDERS' FUNDS

455,273

336,272

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 28 September 2018 and were signed on its behalf by:

Mrs T J McDougall - Director

1.	STATUTORY INFORMATION

Solace In Business Ltd is a private company, limited by shares , registered in England and Wales. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

Turnover

Turnover represents fees receivable for services provided to customers. Income is recognised to the extent that the company

has obtained the right to consideration through its performance.

Tangible fixed assets

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

Improvements to short leasehold property

-

Over the term of the lease

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

20% to 33% on cost

All fixed assets are initially recorded at cost.

Investments in subsidiaries

Shares in group undertakings are held at cost less any provision for impairment.

Taxation

Taxation for the year 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 statement of financial position date.

Deferred 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.

Pensions

The company operates a defined contribution scheme for employees. The annual contributions are charged to the income

statement.

Leased assets and obligations

Operating leases and the annual rentals are charged to the income statement on a straight line basis over the lease term.

3.	TANGIBLE FIXED ASSETS

Improvements

to short

Fixtures

leasehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2017

60,105

7,224

78,939

146,268

Additions

-

-

5,621

5,621

At 31 March 2018

60,105

7,224

84,560

151,889

DEPRECIATION

At 1 April 2017

60,105

7,224

70,226

137,555

Charge for year

-

-

7,671

7,671

At 31 March 2018

60,105

7,224

77,897

145,226

NET BOOK VALUE

At 31 March 2018

-

-

6,663

6,663

At 31 March 2017

-

-

8,713

8,713

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2017

and 31 March 2018

20

NET BOOK VALUE

At 31 March 2018

20

At 31 March 2017

20

The company's investments at the Statement of Financial Position date in the share capital of companies include the

following:

SEL Business Services Limited

Registered office: Off Southgate, Pontefract, West Yorkshire, WF8 1NT

Nature of business: Dormant

%

Class of shares:

holding

£1 Ordinary shares

100.00

2018

2017

£

£

Aggregate capital and reserves

20

20

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

273,344

852,933

Amounts owed by group undertakings

9,525

26,866

Prepayments and accrued income

279,342

33,994

562,211

913,793

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

229,616

415,668

Amounts owed to group undertakings

20

20

Tax

2,956

-

Social security and other tax

13,769

12,850

VAT

94,649

145,042

Other creditors

6,233

5,387

Accruals and deferred income

489,339

512,506

836,582

1,091,473

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

13,000

13,000

Between one and five years

5,417

18,417

18,417

31,417

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

19

Ordinary

£1

19

19

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

The Report of the Auditors was unqualified.

Adam Perkin FCA (Senior Statutory Auditor)

for and on behalf of Jolliffe Cork LLP

10.	PENSION COMMITMENTS

The company operates a defined contribution scheme for employees. The assets of the scheme are held separately from

those of the company in an independently administered fund. At the balance sheet date, contributions totalling £6,233

(2017: £5,387) were payable to the fund and are included in Other creditors.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Non-executive directors receive no remuneration for acting as directors of the company.

12.	RELATED PARTY DISCLOSURES