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REGISTERED NUMBER: 11717237 (England and Wales)











1066 ASSET HOLDINGS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024






1066 ASSET HOLDINGS LTD (REGISTERED NUMBER: 11717237)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


1066 ASSET HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: D G Cleaver
M A Gall
M Hillyard





REGISTERED OFFICE: 1066 Asset Holdings Ltd
Menzies Road
Ponswood
St Leonards-On-Sea
East Sussex
TN38 9XF





REGISTERED NUMBER: 11717237 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
20 Eversley Road
Bexhill-on-Sea
East Sussex
TN40 1HE

1066 ASSET HOLDINGS LTD (REGISTERED NUMBER: 11717237)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 121,184 73,212
Investments 5 3 3
121,187 73,215

CURRENT ASSETS
Debtors 6 115,003 33,500
Cash at bank 1,889 6,881
116,892 40,381
CREDITORS
Amounts falling due within one year 7 207,233 94,918
NET CURRENT LIABILITIES (90,341 ) (54,537 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,846

18,678

PROVISIONS FOR LIABILITIES 30,296 18,303
NET ASSETS 550 375

CAPITAL AND RESERVES
Called up share capital 8 6 6
Retained earnings 544 369
SHAREHOLDERS' FUNDS 550 375

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

1066 ASSET HOLDINGS LTD (REGISTERED NUMBER: 11717237)

BALANCE SHEET - continued
31ST MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th June 2025 and were signed on its behalf by:





M Hillyard - Director


1066 ASSET HOLDINGS LTD (REGISTERED NUMBER: 11717237)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

1066 Asset Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about 1066 Asset Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Computer equipment - 25% on cost

Depreciation of the plant and machinery is usually at a rate of 20% on cost, however the directors have reviewed the value of the assets at 31 March 2024 and adjusted the depreciation for the year accordingly.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


1066 ASSET HOLDINGS LTD (REGISTERED NUMBER: 11717237)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1st April 2023 116,201 5,964 122,165
Additions 52,220 4,021 56,241
At 31st March 2024 168,421 9,985 178,406
DEPRECIATION
At 1st April 2023 45,296 3,657 48,953
Charge for year 5,885 2,384 8,269
At 31st March 2024 51,181 6,041 57,222
NET BOOK VALUE
At 31st March 2024 117,240 3,944 121,184
At 31st March 2023 70,905 2,307 73,212

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1st April 2023
and 31st March 2024 3
NET BOOK VALUE
At 31st March 2024 3
At 31st March 2023 3

1066 ASSET HOLDINGS LTD (REGISTERED NUMBER: 11717237)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 115,003 31,949
Other debtors - 1,551
115,003 33,500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,190 2,520
Taxation and social security 197,034 85,518
Other creditors 6,009 6,880
207,233 94,918

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3 Ordinary £1 3 3
3 B Ordinary £1 3 3
6 6

9. RELATED PARTY DISCLOSURES

At the year end the company was owed £115,003 (2023: £31,949) by The Hastings Sofa Company Limited, its subsidiary company.