248 Holdings Ltd 13190789 false 2023-03-01 2024-02-29 2024-02-29 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 2023-03-01 2024-02-29 13190789 2024-02-29 13190789 core:RetainedEarningsAccumulatedLosses 2024-02-29 13190789 core:ShareCapital 2024-02-29 13190789 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-02-29 13190789 core:CurrentFinancialInstruments 2024-02-29 13190789 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 13190789 bus:SmallEntities 2023-03-01 2024-02-29 13190789 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13190789 bus:FullAccounts 2023-03-01 2024-02-29 13190789 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13190789 bus:RegisteredOffice 2023-03-01 2024-02-29 13190789 bus:Director1 2023-03-01 2024-02-29 13190789 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13190789 countries:AllCountries 2023-03-01 2024-02-29 13190789 core:CostValuation 2023-02-28 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:CurrentFinancialInstruments 2023-02-28 13190789 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 13190789

248 Holdings Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

248 Holdings Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

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

 

248 Holdings Ltd

(Registration number: 13190789)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

90

90

Other financial assets

5

25,000

15,000

 

25,090

15,090

Current assets

 

Debtors

6

52,954

59,920

Cash at bank and in hand

 

15,187

6,587

 

68,141

66,507

Creditors: Amounts falling due within one year

7

(3,375)

-

Net current assets

 

64,766

66,507

Net assets

 

89,856

81,597

Capital and reserves

 

Called up share capital

20

20

Profit and loss account

89,836

81,577

Total equity

 

89,856

81,597

For the financial year ending 29 February 2024 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 29 February 2024

Approved and authorised by the director on 29 November 2024
 

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

Mr Adam Lawson
Director

 

248 Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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 29 November 2024.

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 29 February 2024

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.

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 (2023 - 0).

4

Investments

2024
£

2023
£

Investments in subsidiaries

10

10

Investments in joint ventures

80

80

90

90

 

248 Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Investments (continued)

Subsidiaries

£

Cost or valuation

At 1 March 2023

10

Provision

Carrying amount

At 29 February 2024

10

At 28 February 2023

10

Joint ventures

£

Cost

At 1 March 2023

80

Provision

Carrying amount

At 29 February 2024

80

At 28 February 2023

80

 

248 Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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

25,000

25,000

At 29 February 2024

25,000

25,000

Impairment

Carrying amount

At 29 February 2024

25,000

25,000

6

Debtors

2024
£

2023
£

Other debtors

52,954

59,920

52,954

59,920

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Corporation tax liability

 

3,375

-