2 31/01/2023 2023-01-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-04-25 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 14067653 2022-04-25 2023-01-31 14067653 2023-01-31 14067653 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-25 2023-01-31 14067653 bus:Director1 2022-04-25 2023-01-31 14067653 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 14067653 core:ShareCapital 2023-01-31 14067653 core:RetainedEarningsAccumulatedLosses 2023-01-31 14067653 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-01-31 14067653 core:CostValuation core:Non-currentFinancialInstruments 2023-01-31 14067653 core:Non-currentFinancialInstruments 2023-01-31 14067653 bus:SmallEntities 2022-04-25 2023-01-31 14067653 bus:AuditExemptWithAccountantsReport 2022-04-25 2023-01-31 14067653 bus:FullAccounts 2022-04-25 2023-01-31 14067653 bus:SmallCompaniesRegimeForAccounts 2022-04-25 2023-01-31 14067653 bus:PrivateLimitedCompanyLtd 2022-04-25 2023-01-31
Company registration number: 14067653
Set Lawson Holdings Ltd
Unaudited filleted financial statements
31 January 2023
SET LAWSON HOLDINGS LTD
STATEMENT OF FINANCIAL POSITION
31 JANUARY 2023
31/01/23
Note £ £
Fixed assets
Tangible assets 5 645,105
Investments 6 41,061
_______
686,166
Total assets less current liabilities 686,166
_______
Net assets 686,166
_______
Capital and reserves
Called up share capital 41,061
Profit and loss account 7 645,105
_______
Shareholders funds 686,166
_______
For the period ending 31 January 2023 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 period 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 May 2023 , and are signed on behalf of the board by:
E L Lawson
Director
Company registration number: 14067653
SET LAWSON HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 31 JANUARY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Longbridge Road, Marsh Mills, Plymouth, Devon, PL6 8LT.
Principal activity
The principal activity of the company is that of a holding company.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
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:
Freehold property - 2 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term, highly-liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2
5. Tangible assets
Freehold property Total
£ £
Cost
At 25 April 2022 - -
Additions 653,823 653,823
_______ _______
At 31 January 2023 653,823 653,823
_______ _______
Depreciation
At 25 April 2022 - -
Charge for the year 8,718 8,718
_______ _______
At 31 January 2023 8,718 8,718
_______ _______
Carrying amount
At 31 January 2023 645,105 645,105
_______ _______
During the year freehold property was hived up into SET Lawson Holdings Limited from its subsidiay F. T.B Lawson Limited the freehold property had a transfer date of 1 June 2022.
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 25 April 2022 - -
Additions 41,061 41,061
_______ _______
At 31 January 2023 41,061 41,061
_______ _______
Impairment
At 25 April 2022 and 31 January 2023 - -
_______ _______
Carrying amount
At 31 January 2023 41,061 41,061
_______ _______
7. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
8. Charge on assets
A fixed charge is held over the fixed assets of SET Lawson Holdings Ltd in relation to the overdraft facilities of its subsidiaries.