Silverfin false 31/03/2023 01/04/2022 31/03/2023 E J Tyler K D Williams 16 November 2023 The principal activity of the Company during the financial year was a holding company. 09662727 2023-03-31 09662727 2022-03-31 09662727 core:CurrentFinancialInstruments 2023-03-31 09662727 core:CurrentFinancialInstruments 2022-03-31 09662727 core:ShareCapital 2023-03-31 09662727 core:ShareCapital 2022-03-31 09662727 core:RetainedEarningsAccumulatedLosses 2023-03-31 09662727 core:RetainedEarningsAccumulatedLosses 2022-03-31 09662727 core:LandBuildings 2022-03-31 09662727 core:LeaseholdImprovements 2022-03-31 09662727 core:LandBuildings 2023-03-31 09662727 core:LeaseholdImprovements 2023-03-31 09662727 core:CostValuation 2022-03-31 09662727 core:CostValuation 2023-03-31 09662727 core:ProvisionsForImpairmentInvestments 2022-03-31 09662727 core:ImpairmentLossProvisionsForImpairmentInvestments 2023-03-31 09662727 core:ProvisionsForImpairmentInvestments 2023-03-31 09662727 bus:OrdinaryShareClass1 2023-03-31 09662727 bus:OrdinaryShareClass2 2023-03-31 09662727 2022-04-01 2023-03-31 09662727 bus:FullAccounts 2022-04-01 2023-03-31 09662727 bus:SmallEntities 2022-04-01 2023-03-31 09662727 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09662727 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09662727 bus:Director1 2022-04-01 2023-03-31 09662727 bus:Director2 2022-04-01 2023-03-31 09662727 core:LandBuildings core:TopRangeValue 2022-04-01 2023-03-31 09662727 core:LeaseholdImprovements core:TopRangeValue 2022-04-01 2023-03-31 09662727 2021-04-01 2022-03-31 09662727 core:LandBuildings 2022-04-01 2023-03-31 09662727 core:LeaseholdImprovements 2022-04-01 2023-03-31 09662727 core:Subsidiary1 2022-04-01 2023-03-31 09662727 core:Subsidiary1 1 2022-04-01 2023-03-31 09662727 core:Subsidiary1 1 2021-04-01 2022-03-31 09662727 core:Subsidiary2 2022-04-01 2023-03-31 09662727 core:Subsidiary2 1 2022-04-01 2023-03-31 09662727 core:Subsidiary2 1 2021-04-01 2022-03-31 09662727 core:Subsidiary3 2022-04-01 2023-03-31 09662727 core:Subsidiary3 1 2022-04-01 2023-03-31 09662727 core:Subsidiary3 1 2021-04-01 2022-03-31 09662727 core:Subsidiary4 2022-04-01 2023-03-31 09662727 core:Subsidiary4 1 2022-04-01 2023-03-31 09662727 core:Subsidiary4 1 2021-04-01 2022-03-31 09662727 core:Subsidiary5 2022-04-01 2023-03-31 09662727 core:Subsidiary5 1 2022-04-01 2023-03-31 09662727 core:Subsidiary5 1 2021-04-01 2022-03-31 09662727 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 09662727 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 09662727 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 09662727 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure decimalUnit xbrli:shares

Company No: 09662727 (England and Wales)

FCG HOLDINGS LTD

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

FCG HOLDINGS LTD

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

FCG HOLDINGS LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
FCG HOLDINGS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 338,791 345,884
Investments 4 379,959 2,020,102
718,750 2,365,986
Current assets
Debtors 5 32,875 42,026
Cash at bank and in hand 199,294 225,740
232,169 267,766
Creditors: amounts falling due within one year 6 ( 119,770) ( 37,868)
Net current assets 112,399 229,898
Total assets less current liabilities 831,149 2,595,884
Net assets 831,149 2,595,884
Capital and reserves
Called-up share capital 7 2,020,100 2,020,100
Profit and loss account ( 1,188,951 ) 575,784
Total shareholders' funds 831,149 2,595,884

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of FCG Holdings Ltd (registered number: 09662727) were approved and authorised for issue by the Director on 16 November 2023. They were signed on its behalf by:

E J Tyler
Director
FCG HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
FCG HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

FCG Holdings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Loxley House, 21 Coker Road, Weston-Super-Mare, BS22 6BX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

As it is intended to close down the company, the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Taxation

Valuation of Investments

Investments in subsidiaries are measured at cost less accumulated impairment

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Leasehold improvements 50 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Leasehold improve-
ments
Total
£ £ £
Cost
At 01 April 2022 227,232 127,342 354,574
At 31 March 2023 227,232 127,342 354,574
Accumulated depreciation
At 01 April 2022 5,582 3,108 8,690
Charge for the financial year 4,545 2,548 7,093
At 31 March 2023 10,127 5,656 15,783
Net book value
At 31 March 2023 217,105 121,686 338,791
At 31 March 2022 221,650 124,234 345,884

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 April 2022 2,020,102
At 31 March 2023 2,020,102
Provisions for impairment
At 01 April 2022 0
Impairment 1,640,143
At 31 March 2023 1,640,143
Carrying value at 31 March 2023 379,959
Carrying value at 31 March 2022 2,020,102

Investments in shares

Name of entity Registered office Nature of business Class of
shares
Ownership
31.03.2023
Ownership
31.03.2022
First Call Payment Protection Limited Loxley House, 21 Coker Road, BS22 6BX Insurance brokerage Ordinary 100.00% 100.00%
First Call Administration Limited Loxley House, 21 Coker Road, BS22 6BX Administration services Ordinary 100.00% 100.00%
Swift Data Administration Limited Loxley House, 21 Coker Road, BS22 6BX Dormant Ordinary 100.00% 100.00%
Swift Data Solutions Limited Loxley House, 21 Coker Road, BS22 6BX Dormant Ordinary 100.00% 100.00%
First Call Insurance Services Limited Loxley House, 21 Coker Road, BS22 6BX Dormant Ordinary 100.00% 100.00%

5. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 0 407
Amounts owed by directors 32,875 41,619
32,875 42,026

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to Group undertakings 107,211 0
Accruals 1,464 0
Corporation tax 11,095 0
Other creditors 0 37,868
119,770 37,868

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,535,276 Ordinary A shares of £ 1.00 each 1,535,276 1,535,276
484,824 Ordinary B shares of £ 1.00 each 484,824 484,824
2,020,100 2,020,100

All shares rank parri passu

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

The company has taken advantage of the exemption contained within FRS 102 (section 33.1A) from disclosing transactions with wholly owned group companies.

Transactions with the entity's directors

2023 2022
£ £
Owed to/(by) the directors 32,875 41,619

Interest is charged on overdrawn balances above £10,000 and all balances are repayable on demand.