Silverfin false false 28/02/2025 01/03/2024 28/02/2025 Emily Hathaway 26/10/2022 Marcus Oliver Hathaway 26/10/2022 16 April 2025 The principal activity of the Company during the year was the renting of own real estate. The Company is also a holding Company of a trading group. 14445340 2025-02-28 14445340 bus:Director1 2025-02-28 14445340 bus:Director2 2025-02-28 14445340 2024-02-29 14445340 core:CurrentFinancialInstruments 2025-02-28 14445340 core:CurrentFinancialInstruments 2024-02-29 14445340 core:ShareCapital 2025-02-28 14445340 core:ShareCapital 2024-02-29 14445340 core:RetainedEarningsAccumulatedLosses 2025-02-28 14445340 core:RetainedEarningsAccumulatedLosses 2024-02-29 14445340 core:LandBuildings 2024-02-29 14445340 core:FurnitureFittings 2024-02-29 14445340 core:OfficeEquipment 2024-02-29 14445340 core:LandBuildings 2025-02-28 14445340 core:FurnitureFittings 2025-02-28 14445340 core:OfficeEquipment 2025-02-28 14445340 core:CostValuation 2024-02-29 14445340 core:CostValuation 2025-02-28 14445340 bus:OrdinaryShareClass1 2025-02-28 14445340 2024-03-01 2025-02-28 14445340 bus:FilletedAccounts 2024-03-01 2025-02-28 14445340 bus:SmallEntities 2024-03-01 2025-02-28 14445340 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 14445340 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 14445340 bus:Director1 2024-03-01 2025-02-28 14445340 bus:Director2 2024-03-01 2025-02-28 14445340 core:FurnitureFittings core:TopRangeValue 2024-03-01 2025-02-28 14445340 core:OfficeEquipment core:TopRangeValue 2024-03-01 2025-02-28 14445340 2022-10-26 2024-02-29 14445340 core:LandBuildings 2024-03-01 2025-02-28 14445340 core:FurnitureFittings 2024-03-01 2025-02-28 14445340 core:OfficeEquipment 2024-03-01 2025-02-28 14445340 bus:OrdinaryShareClass1 2024-03-01 2025-02-28 14445340 bus:OrdinaryShareClass1 2022-10-26 2024-02-29 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14445340 (England and Wales)

SET FORTY HOLDINGS LTD

Unaudited Financial Statements
For the financial year ended 28 February 2025
Pages for filing with the registrar

SET FORTY HOLDINGS LTD

Unaudited Financial Statements

For the financial year ended 28 February 2025

Contents

SET FORTY HOLDINGS LTD

STATEMENT OF FINANCIAL POSITION

As at 28 February 2025
SET FORTY HOLDINGS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 28 February 2025
Note 28.02.2025 29.02.2024
£ £
Fixed assets
Tangible assets 3 426,403 428,420
Investments 4 50 50
426,453 428,470
Current assets
Debtors 5 278 2,800
Cash at bank and in hand 468,690 14,016
468,968 16,816
Creditors: amounts falling due within one year 6 ( 1,446) ( 7,638)
Net current assets 467,522 9,178
Total assets less current liabilities 893,975 437,648
Net assets 893,975 437,648
Capital and reserves
Called-up share capital 7 50 50
Profit and loss account 893,925 437,598
Total shareholders' funds 893,975 437,648

For the financial year ending 28 February 2025 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 Set Forty Holdings Ltd (registered number: 14445340) were approved and authorised for issue by the Board of Directors on 16 April 2025. They were signed on its behalf by:

Marcus Oliver Hathaway
Director
SET FORTY HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2025
SET FORTY HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2025
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 period, unless otherwise stated.

General information and basis of accounting

Set Forty Holdings 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 Left Hand Turret 4 The Avenue, The Cross, Worcester, WR1 3QA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Reporting period length

Reporting period length is 12 months, the prior period was 16 months (26.10.2022 to 29.02.2024) due to being the first period of trading, so the figures are not entirely comparable.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings not depreciated
Fixtures and fittings 5 years straight line
Office equipment 5 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.

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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Year ended
28.02.2025
Period from
26.10.2022 to
29.02.2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 March 2024 417,108 13,421 0 430,529
Additions 0 0 754 754
At 28 February 2025 417,108 13,421 754 431,283
Accumulated depreciation
At 01 March 2024 0 2,109 0 2,109
Charge for the financial year 0 2,684 87 2,771
At 28 February 2025 0 4,793 87 4,880
Net book value
At 28 February 2025 417,108 8,628 667 426,403
At 29 February 2024 417,108 11,312 0 428,420

4. Fixed asset investments

Investments in subsidiaries

28.02.2025
£
Cost
At 01 March 2024 50
At 28 February 2025 50
Carrying value at 28 February 2025 50
Carrying value at 29 February 2024 50

5. Debtors

28.02.2025 29.02.2024
£ £
Prepayments 278 0
Deferred tax asset 0 2,800
278 2,800

6. Creditors: amounts falling due within one year

28.02.2025 29.02.2024
£ £
Amounts owed to directors 0 6,888
Accruals 788 750
Taxation and social security 658 0
1,446 7,638

7. Called-up share capital

28.02.2025 29.02.2024
£ £
Allotted, called-up and fully-paid
50 Ordinary shares of £ 1.00 each 50 50

8. Related party transactions

Transactions with the entity's directors

28.02.2025 29.02.2024
£ £
Amounts owed to directors 0 (6,888)

Repayments on the directors' loan of £6,888 have been made within the year.