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COMPANY REGISTRATION NUMBER: 05296291
SETDRIVE LIMITED
Unaudited Financial Statements
30 November 2024
SETDRIVE LIMITED
Financial Statements
Year ended 30 November 2024
Contents
Pages
Officers and professional advisers
1
Directors' report
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
5 to 6
The following pages do not form part of the financial statements
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
8
SETDRIVE LIMITED
Officers and Professional Advisers
The board of directors
S. Agace (as nominee for Bazmore Enterprise Limited)
J. Davis
N. Thomas
Company secretary
Karen Jones
Registered office
128 Exeter Road
Harrow
Middlesex
HA2 9PL
Accountants
PGK ASSOCIATES LIMITED
Chartered accountants
128 Exeter Road
Harrow
Middlesex
HA2 9PL
SETDRIVE LIMITED
Directors' Report
Year ended 30 November 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 November 2024 .
Directors
The directors who served the company during the year were as follows:
S. Agace (as nominee for Bazmore Enterprise Limited)
J. Davis
N. Thomas
Dividends
Due to the nature of the company's activities, no dividends are payable by the company.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 11 July 2025 and signed on behalf of the board by:
S Agace(as nominee for Bazmore Enterprise Limited) Director
Registered office:
128 Exeter Road
Harrow
Middlesex
HA2 9PL
SETDRIVE LIMITED
Statement of Income and Retained Earnings
Year ended 30 November 2024
2024
2023
Note
£
£
Turnover
44,993
----
--------
Gross profit
44,993
Administrative expenses
16,799
----
--------
Operating profit
28,194
----
--------
Profit before taxation
28,194
Tax on profit
5,357
----
--------
Profit for the financial year and total comprehensive income
22,837
----
--------
Dividends paid and payable
( 22,835)
Retained earnings at the start of the year
22,837
--------
--------
Retained earnings at the end of the year
2
22,837
--------
--------
All the activities of the company are from continuing operations.
SETDRIVE LIMITED
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
100,858
100,858
Current assets
Debtors
5
2
28,194
Creditors: amounts falling due within one year
6
17,891
23,248
--------
--------
Net current (liabilities)/assets
( 17,889)
4,946
---------
---------
Total assets less current liabilities
82,969
105,804
--------
---------
Capital and reserves
Called up share capital
82,967
82,967
Profit and loss account
2
22,837
--------
---------
Shareholders funds
82,969
105,804
--------
---------
These financial statements have been prepared 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'.
For the year ending 30 November 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 year 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 were approved by the board of directors and authorised for issue on 11 July 2025 , and are signed on behalf of the board by:
S. Agace (as nominee for Bazmore Enterprise Limited)
Director
Company registration number: 05296291
SETDRIVE LIMITED
Notes to the Financial Statements
Year ended 30 November 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 128 Exeter Road, Harrow, Middlesex, HA2 9PL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover represents service charges receivable from the residential lessees.
Tangible assets
Tangible assets are initially recorded at cost, and 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Land and buildings
£
Cost
At 1 December 2023 and 30 November 2024
100,858
---------
Carrying amount
At 30 November 2024
100,858
---------
At 30 November 2023
100,858
---------
5. Debtors
2024
2023
£
£
Other debtors
2
28,194
----
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
5,357
Other creditors
17,891
17,891
--------
--------
17,891
23,248
--------
--------
7. Related party transactions
The company was under the control of Bazmore Enterprise Limited throughout the current and previous year. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities (effective January 2007).
8. Other spare note 99 heading
SETDRIVE LIMITED
Management Information
Year ended 30 November 2024
The following pages do not form part of the financial statements.
SETDRIVE LIMITED
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of SETDRIVE LIMITED
Year ended 30 November 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 November 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
PGK ASSOCIATES LIMITED Chartered accountants
128 Exeter Road Harrow Middlesex HA2 9PL
11 July 2025