Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-312022-08-01falseHolding company11falsetrue 09502349 2022-08-01 2023-07-31 09502349 2021-08-01 2022-07-31 09502349 2023-07-31 09502349 2022-07-31 09502349 c:Director1 2022-08-01 2023-07-31 09502349 d:CurrentFinancialInstruments 2023-07-31 09502349 d:CurrentFinancialInstruments 2022-07-31 09502349 d:Non-currentFinancialInstruments 2023-07-31 09502349 d:Non-currentFinancialInstruments 2022-07-31 09502349 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 09502349 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 09502349 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 09502349 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 09502349 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 09502349 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-07-31 09502349 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-07-31 09502349 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-07-31 09502349 d:ShareCapital 2023-07-31 09502349 d:ShareCapital 2022-07-31 09502349 d:RetainedEarningsAccumulatedLosses 2023-07-31 09502349 d:RetainedEarningsAccumulatedLosses 2022-07-31 09502349 c:OrdinaryShareClass2 2022-08-01 2023-07-31 09502349 c:OrdinaryShareClass2 2023-07-31 09502349 c:OrdinaryShareClass2 2022-07-31 09502349 c:OrdinaryShareClass3 2022-08-01 2023-07-31 09502349 c:OrdinaryShareClass3 2023-07-31 09502349 c:OrdinaryShareClass3 2022-07-31 09502349 c:FRS102 2022-08-01 2023-07-31 09502349 c:Audited 2022-08-01 2023-07-31 09502349 c:FullAccounts 2022-08-01 2023-07-31 09502349 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 09502349 c:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 09502349 6 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09502349









SETS HOLDINGS LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
SETS HOLDINGS LIMITED
REGISTERED NUMBER: 09502349

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
1,581,942
1,581,942

  
1,581,942
1,581,942

Current assets
  

Cash at bank and in hand
 5 
71
65

  
71
65

Creditors: amounts falling due within one year
 6 
(145,605)
(137,273)

Net current liabilities
  
 
 
(145,534)
 
 
(137,208)

Total assets less current liabilities
  
1,436,408
1,444,734

Creditors: amounts falling due after more than one year
 7 
(1,285,352)
(1,434,873)

  

Net assets
  
151,056
9,861


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
150,956
9,761

  
151,056
9,861


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 February 2024.


G R Waddilove
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
SETS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

SETS Holdings Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Breach Lane, Dagenham, Essex, RM9 6EG.
The company's principal activity continued to be that of a holding company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 2

 
SETS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.8

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 August 2022
1,581,942



At 31 July 2023
1,581,942





5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
71
65

71
65



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
145,605
137,273

145,605
137,273


Page 3

 
SETS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,285,352
1,434,873

1,285,352
1,434,873


Secured loans
Bank borrowings of £1,572,146 (2021: £1,709,418) are secured by fixed and floating charge over all assets of the company.


8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
145,605
137,273

Amounts falling due 2-5 years

Bank loans
627,280
609,067

Amounts falling due after more than 5 years

Bank loans
658,072
825,806

1,430,957
1,572,146


Page 4

 
SETS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



69 (2022 - 69) Ordinary A shares of £1.00 each
69
69
31 (2022 - 31) Ordinary B shares of £1.00 each
31
31

100

100



10.


Controlling party

The ultimate parent undertaking is South Eastern Tanker Services Group Limited, a company incorporated in England and Wales.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 July 2023 was unqualified.

The audit report was signed on 15 February 2024 by Duncan Stannett (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 5