Solaris Finance & Investments Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06530274 (England and Wales)

SOLARIS FINANCE & INVESTMENTS LIMITED

Financial Statements

for the Year Ended 31 May 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

C D Gasson

J C Pinto

W J Pinto

Registered office:

250 Fowler Avenue

Farnborough

Hampshire

GU14 7JP

Business address:

1st Floor

Unit 4 Blue Prior Business Park

Church Crookham

Fleet

Hampshire

GU52 0RJ

Registered number:

06530274 (England and Wales)

Auditors:

Haines Watts

Chartered Accountants and Statutory Auditor

250 Fowler Avenue

Farnborough

Hampshire

GU14 7JP

Fixed assets

Tangible assets

4

-

2,325

Investments

5

-

245,000

-

247,325

Current assets

Debtors

6

-

1,690,709

Cash at bank

49

19,379

49

1,710,088

Creditors

Amounts falling due within one year

7

-

13,802

Net current assets

49

1,696,286

Total assets less current liabilities

49

1,943,611

Capital and reserves

Called up share capital

8

1,002

1,002

Retained earnings

(953

)

1,942,609

Shareholders' funds

49

1,943,611

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2022 and were signed on its behalf by:

J C Pinto - Director

1.	Statutory information

Solaris Finance & Investments Limited 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.

2.	Accounting policies

Accounting convention

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

Going concern

The principle activity of the company has changed during the year under review from being an investment company to a dormant company going forward. The directors believe the financial statements should be prepared on a going concern basis, as there would be no difference in the balance sheet if the financial statements were prepared on a break up basis. The directors do not intend to liquidate the entity, as alternative uses of the company will be considered in the future, which are dependent on future activity and expansion of the wider group.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the twelve months from the date of the approval of the financial statements. For this reason, the directors have opted to adopt the going concern basis in preparing these financial statements.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery

33.33% straight line

Fixtures, fittings & equipment

20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Fixed asset investments

Fixed asset investments which are not subsidiaries, associates or joint ventures, and other fixed asset investments, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit and loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, and deposits held at call with banks.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

There are no critical judgements in the period which had significant effect on amounts recognised in the financial statements.

3.	Employees and directors

The average number of employees during the year was 3 (2021 - 3 ) .

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 June 2021

and 31 May 2022

7,090

Depreciation

At 1 June 2021

4,765

Charge for year

2,325

At 31 May 2022

7,090

Net book value

At 31 May 2022

-

At 31 May 2021

2,325

5.	Fixed asset investments

Other

investments

£

Cost

At 1 June 2021

245,000

Disposals

(245,000

)

At 31 May 2022

-

Net book value

At 31 May 2022

-

At 31 May 2021

245,000

6.

Debtors: amounts falling due within one year

2022

2021

£

£

Amounts owed by group undertakings

-

1,690,709

7.

Creditors: amounts falling due within one year

2022

2021

£

£

Other creditors

-

13,802

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

435

A Ordinary

£1

435

435

567

B Ordinary

£1

567

567

1,002

1,002

9.	Disclosure under Section 444(5B) of the Companies Act 2006

The Auditors' Report was unqualified.

Jonathan Moughton (Senior Statutory Auditor)

for and on behalf of Haines Watts

10.	Parent company

At the year end, the ultimate parent company which is also the parent for the largest and smallest group of undertakings for which the group financial statements are drawn up for and of which the company is a member is Lynx (GP) Holdings Limited, a company whose registered office is 250 Fowler Avenue, Farnborough, Hampshire, GU14 7JP.

The consolidated financial statements for Lynx (GP) Holdings Limited can be obtained from the Registrar of companies, Companies House, Crown Way, Cardiff CF14 3UZ.