Company registration number 12056664 (England and Wales)
FSE Holdings Ltd
Unaudited financial statements
For the year ended 31 May 2024
FSE Holdings Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
FSE Holdings Ltd
Statement of financial position
As at 31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
15
15
Current assets
Debtors
4
164,615
250,449
Investments
5
418,427
372,251
Cash at bank and in hand
149,924
120,242
732,966
742,942
Creditors: amounts falling due within one year
6
(47,335)
(210,000)
Net current assets
685,631
532,942
Net assets
685,646
532,957
Capital and reserves
Called up share capital
210
210
Profit and loss reserves
685,436
532,747
Total equity
685,646
532,957

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 January 2025 and are signed on its behalf by:
Mr P Salt
Director
Company registration number 12056664 (England and Wales)
FSE Holdings Ltd
Notes to the financial statements
For the year ended 31 May 2024
- 2 -
1
Accounting policies
Company information

FSE Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 12 Rother Court, Mangham Road, Rotherham, S62 6DR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, including bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

FSE Holdings Ltd
Notes to the financial statements (continued)
For the year ended 31 May 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average number of persons employed by the company during the year was Nil (2023 - Nil).

 

3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
15
15
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
164,615
250,449
5
Current asset investments
2024
2023
£
£
Other investments
418,427
372,251

Other investments are measured at fair value based on the stock market price at the year end date.

FSE Holdings Ltd
Notes to the financial statements (continued)
For the year ended 31 May 2024
- 4 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
45,000
210,000
Other creditors
2,335
-
0
47,335
210,000
7
Directors' transactions

The advance is unsecured, repayable on demand and interest is charged at HMRC's official rate of interest per annum, where the balance exceeds £10,000.

 

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Directors' Loan Account
2.25
210,448
160,869
3,746
(210,448)
164,615
210,448
160,869
3,746
(210,448)
164,615
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