Sol Estates Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09139841 (England and Wales)

SOL ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2017

Page

Company Information

1

Balance Sheet

2

DIRECTOR:

I Carstairs

REGISTERED OFFICE:

39a Welbeck Street

London

W1G 8DH

REGISTERED NUMBER:

09139841 (England and Wales)

ACCOUNTANTS:

Sinclairs Bartrum Lerner

Chartered Accountants

39A Welbeck Street

London

W1G 8DH

FIXED ASSETS

590,780

595,396

CURRENT ASSETS

1,320

2,641

CREDITORS

Amounts falling due within one year

(47,465

)

(47,632

)

NET CURRENT LIABILITIES

(46,145

)

(44,991

)

TOTAL ASSETS LESS CURRENT LIABILITIES

544,635

550,405

CAPITAL AND RESERVES

544,635

550,405

NOTE TO THE FINANCIAL STATEMENTS

1.	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 already has bookings for the calendar year 2018.

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 21st December 2017 and were signed by:

I Carstairs - Director