Silverfin false false 31/03/2024 01/04/2023 31/03/2024 George John Matson 19/03/2020 Peter Matson 15/04/2020 Sarah Matson 17/07/2020 28 March 2025 The principal activity of the company is that of property development and consultancy. 12525742 2024-03-31 12525742 bus:Director1 2024-03-31 12525742 bus:Director2 2024-03-31 12525742 bus:Director3 2024-03-31 12525742 2023-03-31 12525742 core:CurrentFinancialInstruments 2024-03-31 12525742 core:CurrentFinancialInstruments 2023-03-31 12525742 core:Non-currentFinancialInstruments 2024-03-31 12525742 core:Non-currentFinancialInstruments 2023-03-31 12525742 core:ShareCapital 2024-03-31 12525742 core:ShareCapital 2023-03-31 12525742 core:RetainedEarningsAccumulatedLosses 2024-03-31 12525742 core:RetainedEarningsAccumulatedLosses 2023-03-31 12525742 core:OtherPropertyPlantEquipment 2023-03-31 12525742 core:OtherPropertyPlantEquipment 2024-03-31 12525742 bus:OrdinaryShareClass1 2024-03-31 12525742 2023-04-01 2024-03-31 12525742 bus:FilletedAccounts 2023-04-01 2024-03-31 12525742 bus:SmallEntities 2023-04-01 2024-03-31 12525742 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12525742 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12525742 bus:Director1 2023-04-01 2024-03-31 12525742 bus:Director2 2023-04-01 2024-03-31 12525742 bus:Director3 2023-04-01 2024-03-31 12525742 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 12525742 2022-04-01 2023-03-31 12525742 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 12525742 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 12525742 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 12525742 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12525742 (England and Wales)

FIFTYFIFTY GROUP LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

FIFTYFIFTY GROUP LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

FIFTYFIFTY GROUP LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
FIFTYFIFTY GROUP LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 0 642
0 642
Current assets
Debtors
- due within one year 4 1,279 911
- due after more than one year 4 884,688 839,850
Cash at bank and in hand 3,926 0
889,893 840,761
Creditors: amounts falling due within one year 5 ( 42,696) ( 28,156)
Net current assets 847,197 812,605
Total assets less current liabilities 847,197 813,247
Creditors: amounts falling due after more than one year 6 ( 883,763) ( 871,070)
Net liabilities ( 36,566) ( 57,823)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 36,666 ) ( 57,923 )
Total shareholders' deficit ( 36,566) ( 57,823)

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Fiftyfifty Group Ltd (registered number: 12525742) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

George John Matson
Director

28 March 2025

FIFTYFIFTY GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
FIFTYFIFTY GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Fiftyfifty Group Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 3 3

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 3,007 3,007
At 31 March 2024 3,007 3,007
Accumulated depreciation
At 01 April 2023 2,365 2,365
Charge for the financial year 642 642
At 31 March 2024 3,007 3,007
Net book value
At 31 March 2024 0 0
At 31 March 2023 642 642

4. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Other debtors 1,279 911
Debtors: amounts falling due after more than one year
Other debtors 884,688 839,850

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 2,497 898
Trade creditors 13,141 0
Other creditors 27,058 27,258
42,696 28,156

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 883,763 871,070

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's directors

Included within other creditors is a balance of £883,763 (2023: £871,070) owed to the director. This balance is unsecured with no fixed repayment terms and interest free.

Other related party transactions

An amount is owed of £884,688 (2023: £839,850) to the company from a company with a common director. Interest is being charged at a monthly rate of 2%. Interest charged in the year was £17,347 (2023: £6,053).