Solara Canmore UK Limited - Accounts to registrar (filleted) - small 18.2

Solara Canmore UK Limited - Accounts to registrar (filleted) - small 18.2

SOLARA CANMORE UK LIMITED - Company Information

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REGISTERED NUMBER: 05133705 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

SOLARA CANMORE UK LIMITED
SOLARA CANMORE UK LIMITED (REGISTERED NUMBER: 05133705)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOLARA CANMORE UK LIMITED


COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2020







DIRECTORS: Dr S Ah-Moye
Dr M Ah-Moye





REGISTERED OFFICE: Fifth Floor,
11 Leadenhall Street,
London
EC3V 1LP





REGISTERED NUMBER: 05133705 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Chartered Accountants & Tax Advisers
Fifth Floor
11 Leadenhall Street
London
EC3V 1LP
Page 1
SOLARA CANMORE UK LIMITED (REGISTERED NUMBER: 05133705)


BALANCE SHEET
30 SEPTEMBER 2020

30.9.20 30.9.19
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 276,114 276,114

CURRENT ASSETS
Cash at bank 31,200 29,007

CREDITORS
Amounts falling due within one year 5 324,080 315,305
NET CURRENT LIABILITIES (292,880 ) (286,298 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(16,766
)
(10,184
)

CREDITORS
Amounts falling due after more than one year 6 74,058 79,233
NET LIABILITIES (90,824 ) (89,417 )

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings (90,826 ) (89,419 )
SHAREHOLDERS' FUNDS (90,824 ) (89,417 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes form part of these financial statements

Page 2 continued...
SOLARA CANMORE UK LIMITED (REGISTERED NUMBER: 05133705)


BALANCE SHEET - continued
30 SEPTEMBER 2020


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2021 and were signed on its behalf by:





Dr M Ah-Moye - Director


The notes form part of these financial statements

Page 3
SOLARA CANMORE UK LIMITED (REGISTERED NUMBER: 05133705)


NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020


1. STATUTORY INFORMATION

Solara Canmore UK 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

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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The accounts have been prepared under the going concern basis, as the parent company has agreed to provide the Company with continued funding, to enable it to meet its liabilities as they fall due.

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

INVESTMENT PROPERTY
Investment properties are included in the balance sheet at cost. Investment properties are not revalued annually at their open market value as required by Financial Reporting Standard 102. The directors consider that no useful purpose would be served in incurring the expenses of a professional valuation. In absence of a professional valuation, it is not possible for the directors to estimate with reasonable accuracy the open market value of the properties. No depreciation is provided on investment properties.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

Page 4 continued...
SOLARA CANMORE UK LIMITED (REGISTERED NUMBER: 05133705)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2020


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 October 2019
and 30 September 2020 276,114
Net book value
At 30 September 2020 276,114
At 30 September 2019 276,114

Investment property is stated at cost and not revalued. The directors consider that no useful purpose would be served in incurring the expenses of a professional valuation.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.20 30.9.19
£    £   
Amounts owed to participating interests 316,209 307,434
Other creditors 7,871 7,871
324,080 315,305

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.20 30.9.19
£    £   
Bank loans 74,058 79,233

Bank loans are secured against the investment properties and interest at varying rate is payable on the loans.

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 30.9.20 30.9.19
value: £    £   
2 Ordinary £1 2 2

Page 5 continued...
SOLARA CANMORE UK LIMITED (REGISTERED NUMBER: 05133705)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2020


8. CONTROLLING PARTY

The Company's ultimate parent company is Espark ACU Limited which is incorporated in the United Kingdom and registered in England and Wales. Copies of the parent company accounts may be obtained by writing to the Company Secretary at 5th Floor, 11 Leadenhall Street, London EC3V 1LP.
The Company is controlled by Mr M Ah-Moye and Dr S Ah-Moye, shareholders of the parent company.

Page 6