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Company No: 09974030 (England and Wales)

THE PENSION DRAWDOWN HOLDINGS COMPANY LIMITED

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

THE PENSION DRAWDOWN HOLDINGS COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

THE PENSION DRAWDOWN HOLDINGS COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2024
THE PENSION DRAWDOWN HOLDINGS COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 2,310,100 2,310,000
2,310,100 2,310,000
Current assets
Stocks 4 2,364,117 0
Debtors 5 363,260 817,201
Cash at bank and in hand 6 3,674,347 0
6,401,724 817,201
Creditors: amounts falling due within one year 7 ( 7,266,973) ( 796,923)
Net current (liabilities)/assets (865,249) 20,278
Total assets less current liabilities 1,444,851 2,330,278
Net assets 1,444,851 2,330,278
Capital and reserves
Called-up share capital 8 10,000 10,000
Profit and loss account 1,434,851 2,320,278
Total shareholders' funds 1,444,851 2,330,278

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

Directors' responsibilities:

The financial statements of The Pension Drawdown Holdings Company Limited (registered number: 09974030) were approved and authorised for issue by the Board of Directors on 01 August 2025. They were signed on its behalf by:

Jonathan Walker
Director
Samantha Walker
Director
THE PENSION DRAWDOWN HOLDINGS COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
THE PENSION DRAWDOWN HOLDINGS COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 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

The Pension Drawdown Holdings Company Limited (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 C/O Bishop Fleming Brook House Manor Drive, Clyst St. Mary, Exeter, EX5 1GD, United Kingdom. The principal place of business is Rockwood House, Princes Point Park Hill Road, Torquay, Torbay, TQ1 2DU, 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.

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.

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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

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

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 1

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 August 2023 2,310,000
Additions 100
At 31 July 2024 2,310,100
Carrying value at 31 July 2024 2,310,100
Carrying value at 31 July 2023 2,310,000

4. Stocks

2024 2023
£ £
Work in progress 2,364,117 0

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 1,700 0
Amounts owed by directors 67,246 713,571
Prepayments 165,463 0
Other debtors 128,851 103,630
363,260 817,201

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 3,674,347 0

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 4,031 0
Amounts owed to Group undertakings 7,238,235 784,923
Taxation and social security 2,011 0
Other creditors 22,696 12,000
7,266,973 796,923

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
9,700 Ordinary shares of £ 1.00 each (2023: 10,000 shares of £ 1.00 each) 9,700 10,000
300 Ordinary A shares of £ 1.00 each (2023: nil shares) 300 0
10,000 10,000

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

At the year end the company owed £7,238,235 (2023: £784,923) to group undertakings. No interest has been charged on this amount and there are no fixed repayment terms.

Transactions with the entity's directors

At the year end, a director owed the company £67,246 (2023: £713,571 ). No interest has been charged on this amount and there are no fixed repayment terms.

Other related party transactions

At the year end, the company was owed £106,155 (2023: £103,630) by Rockwood Wealth Management Limited, an associated company.

10. Ultimate controlling party

Throughout the period the ultimate controlling party was Mr J P Walker.