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Company registration number: 15349021
50K HOLDINGS LTD
31 December 2024
HEYWOODS
Chartered Accountant
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
50K HOLDINGS LTD
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
50K HOLDINGS LTD
DIRECTORS AND OTHER INFORMATION
Directors Mr W D M Evans (Appointed 13 December 2023)
Mr S J Clorley (Appointed 13 December 2023)
Company number 15349021
Registered office Countrywide House
Battlefield Enterprise Park
Shrewsbury
Shropshire
SY1 3AB
Business address Countrywide House
Battlefield Enterprise Park
Shrewsbury
SY1 3AB
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
50K HOLDINGS LTD
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF 50K HOLDINGS LTD
PERIOD ENDED 31ST DECEMBER 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 50K Holdings Ltd for the period ended 31 December 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of 50K Holdings Ltd, as a body, in accordance with the terms of our engagement letter dated 14 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of 50K Holdings Ltd and state those matters that we have agreed to state to the board of directors of 50K Holdings Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 50K Holdings Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that 50K Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 50K Holdings Ltd. You consider that 50K Holdings Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of 50K Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Heywoods
Chartered Accountant
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
10 April 2025
50K HOLDINGS LTD
STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2024
31/12/24
Note £ £
Fixed assets
Tangible assets 5 8,925
Investments 6 170,681
_______
179,606
Current assets
Stocks 2,495
Cash at bank and in hand 4,701
_______
7,196
Creditors: amounts falling due
within one year 7 ( 59,683)
_______
Net current liabilities ( 52,487)
_______
Total assets less current liabilities 127,119
Creditors: amounts falling due
after more than one year 8 ( 123,600)
Provisions for liabilities ( 1,696)
_______
Net assets 1,823
_______
Capital and reserves
Called up share capital 2
Profit and loss account 1,821
_______
Shareholders funds 1,823
_______
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 April 2025 , and are signed on behalf of the board by:
Mr W D M Evans Mr S J Clorley
Director Director
Company registration number: 15349021
50K HOLDINGS LTD
STATEMENT OF CHANGES IN EQUITY
PERIOD ENDED 31ST DECEMBER 2024
Called up share capital Profit and loss account Total
£ £ £
At 13 December 2023 - - -
Profit for the period 1,821 1,821
_______ _______ _______
Total comprehensive income for the period - 1,821 1,821
Issue of shares 2 2
_______ _______ _______
Total investments by and distributions to owners 2 - 2
_______ _______ _______
At 31 December 2024 2 1,821 1,823
_______ _______ _______
50K HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 31ST DECEMBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Countrywide House, Battlefield Enterprise Park, Shrewsbury, Shropshire, SY1 3AB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the value of the consideration received or receivable for goods supplied and services rendered, net of discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2
5. Tangible assets
Plant and machinery Total
£ £
Cost
At 13 December 2023 - -
Additions 10,500 10,500
_______ _______
At 31 December 2024 10,500 10,500
_______ _______
Depreciation
At 13 December 2023 - -
Charge for the year 1,575 1,575
_______ _______
At 31 December 2024 1,575 1,575
_______ _______
Carrying amount
At 31 December 2024 8,925 8,925
_______ _______
6. Investments
Other investments other than loans Total
£ £
Cost
At 13 December 2023 - -
Additions 170,681 170,681
_______ _______
At 31 December 2024 170,681 170,681
_______ _______
Impairment
At 13 December 2023 and 31 December 2024 - -
_______ _______
Carrying amount
At 31 December 2024 170,681 170,681
_______ _______
7. Creditors: amounts falling due within one year
31/12/24
£
Other creditors 59,683
_______
8. Creditors: amounts falling due after more than one year
31/12/24
£
Other creditors 123,600
_______
A charge was taken out on the 30 October 2024 in respect of the investment property.
9. Directors advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
Period ended 31/12/24
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr W D M Evans - ( 29,445) ( 29,445)
Mr S J Clorley - ( 29,450) ( 29,450)
_______ _______ _______
- ( 58,895) ( 58,895)
_______ _______ _______