248 Holdings Ltd 13190789 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is Activities of other holding companies not elsewhere classified Digita Accounts Production Advanced 6.30.9574.0 true true false 13190789 2022-03-01 2023-02-28 13190789 2023-02-28 13190789 core:RetainedEarningsAccumulatedLosses 2023-02-28 13190789 core:ShareCapital 2023-02-28 13190789 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-02-28 13190789 core:CurrentFinancialInstruments 2023-02-28 13190789 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13190789 core:AdditionsToInvestments 2023-02-28 13190789 bus:SmallEntities 2022-03-01 2023-02-28 13190789 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 13190789 bus:FullAccounts 2022-03-01 2023-02-28 13190789 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 13190789 bus:RegisteredOffice 2022-03-01 2023-02-28 13190789 bus:Director1 2022-03-01 2023-02-28 13190789 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 13190789 bus:Agent1 2022-03-01 2023-02-28 13190789 countries:AllCountries 2022-03-01 2023-02-28 13190789 2021-02-09 2022-02-28 13190789 2022-02-28 13190789 core:RetainedEarningsAccumulatedLosses 2022-02-28 13190789 core:ShareCapital 2022-02-28 13190789 core:CurrentFinancialInstruments 2022-02-28 13190789 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 13190789

248 Holdings Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

248 Holdings Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

248 Holdings Ltd

Company Information

Director

Mr Adam Lawson

Registered office

66 Wayfarers Drive
Newton-Le-Willows
WA12 8DG

Accountants

McKeague Morgan & Company
27 College Gardens
Belfast
BT9 6BS

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of 248 Holdings Ltd for the Year Ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 248 Holdings Ltd for the year ended 28 February 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the Code of Ethics for Members published by the Institute relating to members undertaking the compilation of financial statements.

This report is made solely to the Board of Directors of 248 Holdings Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s Board of Directors, as a body, for our work, or for this report.

You have acknowledged on the balance sheet for the financial year ended 28 February 2023 your duty under the Companies Act 2006 to ensure that the company has kept adequate accounting records and prepared financial statements which give a true and fair view of the assets, liabilities and financial position of the company at the end of its financial year and of its profit or loss for that financial year and otherwise comply with the provisions of the Companies Act 2006 relating to financial statements so far as they are applicable to the company. You consider that the company is exempt from the statutory requirement for an audit for the financial year.

We have not been instructed to carry out an audit or a review of the accounts of 248 Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

......................................

McKeague Morgan & Company
27 College Gardens
Belfast
BT9 6BS

24 November 2023

 

248 Holdings Ltd

(Registration number: 13190789)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

90

90

Other financial assets

5

15,000

15,000

 

15,090

15,090

Current assets

 

Debtors

6

59,920

41,920

Cash at bank and in hand

 

6,587

8,000

 

66,507

49,920

Creditors: Amounts falling due within one year

7

-

(64,990)

Net current assets/(liabilities)

 

66,507

(15,070)

Net assets

 

81,597

20

Capital and reserves

 

Called up share capital

20

20

Profit and loss account

81,577

-

Total equity

 

81,597

20

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

248 Holdings Ltd

(Registration number: 13190789)
Balance Sheet as at 28 February 2023

Approved and authorised by the director on 24 November 2023
 

.........................................

Mr Adam Lawson
Director

 

248 Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
66 Wayfarers Drive
Newton-Le-Willows
WA12 8DG
England

These financial statements were authorised for issue by the director on 24 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

248 Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

2

Accounting policies (continued)

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

248 Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Investments

2023
£

2022
£

Investments in subsidiaries

10

10

Investments in joint ventures

80

80

90

90

Subsidiaries

£

Cost or valuation

Additions

10

Provision

Carrying amount

At 28 February 2023

10

At 28 February 2022

10

Joint ventures

£

Cost

Additions

80

Provision

Carrying amount

At 28 February 2023

80

At 28 February 2022

80

 

248 Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Investments (continued)

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

Additions

15,000

15,000

At 28 February 2023

15,000

15,000

Impairment

Carrying amount

At 28 February 2023

15,000

15,000

6

Debtors

2023
£

2022
£

Other debtors

59,920

41,920

59,920

41,920

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

64,990