Sol Estates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09139841 (England and Wales)

SOL ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2020

Page

Company Information

1

Balance Sheet

2

DIRECTOR:

Mr I Carstairs

REGISTERED OFFICE:

Forum House, 1st Floor

15-18 Lime Street

London

EC3M 7AN

REGISTERED NUMBER:

09139841 (England and Wales)

ACCOUNTANTS:

Sinclairs Bartrum Lerner

Chartered Accountants

Forum House

First Floor

15-18 Lime Street

London

EC3M 7AN

FIXED ASSETS

571,825

576,063

CURRENT ASSETS

2,502

7,805

CREDITORS

Amounts falling due within one year

(48,691

)

(53,905

)

NET CURRENT LIABILITIES

(46,189

)

(46,100

)

TOTAL ASSETS LESS CURRENT LIABILITIES

525,636

529,963

CAPITAL AND RESERVES

525,636

529,963

NOTES TO THE FINANCIAL STATEMENTS

1.	AVERAGE NUMBER OF EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

2.	STATUTORY INFORMATION

Sol Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).

3.	REVIEW OF BUSINESS

Sol Estates Ltd primary asset is a Villa in Spain ("The Property"). The Company's business is the letting of the Property on a commercial basis to renters who, the Company believes, are likely to be renters who will wish to rent again and, whilst in occupation, will think of the villa as their own holiday home and look after it accordingly.

While the Company builds up its rental base it is highly likely that the cash flow of the Company will be insufficient to cover all its costs. Mr I Carstairs (Director) has agreed to provide loans to the Company sufficient for it to continue as a going concern until the Company can cover its costs from cash flow. Thereafter it is expected that the Company will become profitable and capable of funding its future growth. The terms of these loans are set out in a separate deed.

The Company believes that it is in the best interests of the Company to reduce the debt as soon as possible. In order to do so before cash flow breakeven is achieved the Company has granted a limited right of occupancy of the Property to I Carstairs in exchange for a reduction in the outstanding debt.

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 23rd September 2021 and were signed by:

Mr I Carstairs - Director