SOLO_GROUP_LIMITED - Accounts

SOLO_GROUP_LIMITED - Accounts

SOLO GROUP LIMITED - Company Information

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Company Registration No. 02228577 (England and Wales)
SOLO GROUP LIMITED
DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
SOLO GROUP LIMITED
COMPANY INFORMATION
Directors
Mr P Willoughby
C McArdle
J Willoughby
Secretary
C McArdle
Company number
02228577
Registered office
200 Dukes Ride
Crowthorne
Berkshire
RG45 6DS
Accountants
Michael A Corley & Co
200 Dukes Ride
Crowthorne
Berkshire
RG45 6DS
Business address
Monks House
Monks Walk
South Ascot
Berkshire
SL5 9AZ
SOLO GROUP LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
Profit and loss account
2
Balance sheet
3 - 4
Notes to the financial statements
5 - 7
SOLO GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2016
- 1 -
The directors present their report and financial statements for the year ended 31 March 2016.
Principal activities

The principal activity of the company continued to be that of the purchase and development of property and consultancy work. the purchase and development of property and consultancy work.

Directors
The following directors have held office since 1 April 2015:
Mr P Willoughby
C McArdle
J Willoughby
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
Mr P Willoughby
Director
22 December 2016
SOLO GROUP LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
2016
2015
Notes
£
£
Turnover
18,604
22,216
Administrative expenses
(17,243)
(29,557)
Profit/(loss) on ordinary activities before taxation
2
1,361
(7,341)
Tax on profit/(loss) on ordinary activities
3
-
-
Profit/(loss) for the year
10
1,361
(7,341)
The profit and loss account has been prepared on the basis that all operations are continuing operations.
There are no recognised gains and losses other than those passing through the profit and loss account.
SOLO GROUP LIMITED
BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 3 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
13,064
13,226
Investments
5
70,042
70,042
83,106
83,268
Current assets
Debtors
6
39,982
42,454
Cash at bank and in hand
9,078
5,850
49,060
48,304
Creditors: amounts falling due within one year
7
(6,638)
(6,733)
Net current assets
42,422
41,571
Total assets less current liabilities
125,528
124,839
Creditors: amounts falling due after more than one year
8
(199)
(871)
125,329
123,968
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
10
125,229
123,868
Shareholders'  funds
11
125,329
123,968
SOLO GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 4 -
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 22 December 2016
Mr P Willoughby
Director
Company Registration No. 02228577
SOLO GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
- 5 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention.

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
Fixtures, fittings & equipment
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.  The deferred tax balance has not been discounted.
2
Operating profit/(loss)
2016
2015
£
£
Operating profit/(loss) is stated after charging:
Depreciation of tangible assets
162
196
3
Taxation
2016
2015
£
£
Total current tax
-
-
Factors affecting the tax charge for the year
Profit/(loss) on ordinary activities before taxation
1,361
(7,341)
Profit/(loss) on ordinary activities before taxation multiplied by standard rate of UK corporation tax of 0% (2015 - 0%)
-
-
Current tax charge for the year
-
-
SOLO GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 6 -
4
Dividends
2016
2015
£
£
Ordinary interim paid
-
6,369
5
Fixed asset investments
Unlisted investments
£
Cost
At 1 April 2015 & at 31 March 2016
70,042
Net book value
At 31 March 2016
70,042
At 31 March 2015
70,042
6
Debtors
2016
2015
£
£
Other debtors
39,982
42,454
7
Creditors: amounts falling due within one year
2016
2015
£
£
Taxation and social security
4,508
4,833
Other creditors
2,130
1,900
6,638
6,733
8
Creditors: amounts falling due after more than one year
2016
2015
£
£
Bank loans
199
871
Analysis of loans
Wholly repayable within five years
199
871
Loan maturity analysis
SOLO GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 7 -
9
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
10
Statement of movements on profit and loss account
Profit
and loss
account
£
Balance at 1 April 2015
123,868
Profit for the year
1,361
Balance at 31 March 2016
125,229
11
Reconciliation of movements in Shareholders' funds
2016
2015
£
£
Profit/(Loss) for the financial year
1,361
(7,341)
Dividends
-
(6,369)
Net addition to/(depletion in) shareholders' funds
1,361
(13,710)
Opening Shareholders' funds
123,968
137,678
Closing Shareholders' funds
125,329
123,968
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