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REGISTERED NUMBER: 07192516 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SET88 LIMITED

SET88 LIMITED (REGISTERED NUMBER: 07192516)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SET88 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr C Paton
Mrs J Paton
Miss A Paton
Miss L Paton



REGISTERED OFFICE: The Old Orchard
Abbotskerswell
Newton Abbot
Devon
TQ12 5NY



REGISTERED NUMBER: 07192516 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Santander
Bridle Road
Bootle
Merseyside
L30 4GB

SET88 LIMITED (REGISTERED NUMBER: 07192516)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,742 16,774

CURRENT ASSETS
Debtors 5 296,638 20,402
Cash at bank 164,818 462,220
461,456 482,622
CREDITORS
Amounts falling due within one year 6 60,528 71,479
NET CURRENT ASSETS 400,928 411,143
TOTAL ASSETS LESS CURRENT LIABILITIES 417,670 427,917

PROVISIONS FOR LIABILITIES 619 815
NET ASSETS 417,051 427,102

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 417,001 427,052
SHAREHOLDERS' FUNDS 417,051 427,102

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2024 and were signed on its behalf by:




Mr C Paton - Director


SET88 LIMITED (REGISTERED NUMBER: 07192516)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Set88 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Nil
Computer equipment - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

SET88 LIMITED (REGISTERED NUMBER: 07192516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 April 2023 13,514 499 15,139 29,152
Additions - 633 1,005 1,638
Disposals - - (4,201 ) (4,201 )
At 31 March 2024 13,514 1,132 11,943 26,589
DEPRECIATION
At 1 April 2023 - 193 12,185 12,378
Charge for year - 188 1,482 1,670
Eliminated on disposal - - (4,201 ) (4,201 )
At 31 March 2024 - 381 9,466 9,847
NET BOOK VALUE
At 31 March 2024 13,514 751 2,477 16,742
At 31 March 2023 13,514 306 2,954 16,774

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,758 20,402
Directors' current accounts 286,880 -
296,638 20,402

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 1,451 8,445
Social security and other taxes 2,909 -
VAT 9,342 24,293
Directors' current accounts 45,190 37,065
Accrued expenses 1,636 1,676
60,528 71,479

SET88 LIMITED (REGISTERED NUMBER: 07192516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr C Paton and Mrs J Paton
Balance outstanding at start of year (7,065 ) (18,511 )
Amounts advanced 68,028 23,886
Amounts repaid (67,862 ) (12,440 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,899 ) (7,065 )

Miss A Paton
Balance outstanding at start of year (15,000 ) -
Amounts advanced 353,880 16,925
Amounts repaid (52,000 ) (31,925 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 286,880 (15,000 )

Miss L Paton
Balance outstanding at start of year (15,000 ) -
Amounts advanced 1,100 22,705
Amounts repaid (24,391 ) (37,705 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (38,291 ) (15,000 )

Loans are unsecured, interest free and repayable on demand.

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £16,500 (2023 - £33,400) were paid to the directors .

Use of home as office

During the year, the company rented the directors personal residence under a Licence to Occupy agreement for £1,546 ( 2023: £1,470).