SOLOMON INVESTMENTS LIMITED

SOLOMON INVESTMENTS LIMITED

SOLOMON INVESTMENTS LIMITED - Company Information

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SOLOMON INVESTMENTS LIMITED

Company Registration Number:
06138244 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2021

Period of accounts

Start date: 01 June 2020

End date: 31 May 2021

SOLOMON INVESTMENTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2021

Balance sheet
Notes

SOLOMON INVESTMENTS LIMITED

Balance sheet

As at 31 May 2021


Notes
2021
2020


£
£
Fixed assets
Tangible assets: 3 497,649 458,571
Total fixed assets: 497,649 458,571
Current assets
Stocks: 24,550 19,245
Debtors: 4 36,339 44,410
Cash at bank and in hand: 104,094 40,135
Total current assets: 164,983 103,790
Creditors: amounts falling due within one year:   (132,409) (54,128)
Net current assets (liabilities): 32,574 49,662
Total assets less current liabilities: 530,223 508,233
Creditors: amounts falling due after more than one year:   (271,900) (481,854)
Total net assets (liabilities): 258,323 26,379
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 257,323 25,379
Shareholders funds: 258,323 26,379

The notes form part of these financial statements

SOLOMON INVESTMENTS LIMITED

Balance sheet statements

For the year ending 31 May 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

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

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 24 February 2022
and signed on behalf of the board by:

Name: A Richards
Status: Director

The notes form part of these financial statements

SOLOMON INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents amounts receivable during the year exclusive of Value Added Tax

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset less its residual value over the useful economic life of that asset as follows Leasehold Property is depreciated to write off the cost over the period of the lease.Equipment is written of at 20 percent using the reducing balance method

Valuation and information policy

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase costs of conversion and other costs incurred in bringing the stock to its present location and condition.

SOLOMON INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2021

2. Employees

2021 2020
Average number of employees during the period 15 9

SOLOMON INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2021

3. Tangible Assets

Total
Cost £
At 01 June 2020 674,024
Additions 66,406
At 31 May 2021 740,430
Depreciation
At 01 June 2020 215,453
Charge for year 27,328
At 31 May 2021 242,781
Net book value
At 31 May 2021 497,649
At 31 May 2020 458,571

SOLOMON INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2021

4. Debtors

2021 2020
££
Debtors due after more than one year: 36,339 44,410