Silverfin false false 14/03/2024 29/02/2024 14/03/2024 Roger Mark Easterbrook 28/03/2024 02/06/2014 Richard Alexander Rowe 29/02/2024 01/10/2018 Jonathan Paul Walker 26/01/2000 01 August 2025 The principal activity of the Company during the financial period was financial management. 03871848 2024-03-14 03871848 bus:Director1 2024-03-14 03871848 bus:Director2 2024-03-14 03871848 bus:Director3 2024-03-14 03871848 2024-02-28 03871848 core:CurrentFinancialInstruments 2024-03-14 03871848 core:CurrentFinancialInstruments 2024-02-28 03871848 core:Non-currentFinancialInstruments 2024-03-14 03871848 core:Non-currentFinancialInstruments 2024-02-28 03871848 core:ShareCapital 2024-03-14 03871848 core:ShareCapital 2024-02-28 03871848 core:RetainedEarningsAccumulatedLosses 2024-03-14 03871848 core:RetainedEarningsAccumulatedLosses 2024-02-28 03871848 core:PlantMachinery 2024-02-28 03871848 core:Vehicles 2024-02-28 03871848 core:OfficeEquipment 2024-02-28 03871848 core:PlantMachinery 2024-03-14 03871848 core:Vehicles 2024-03-14 03871848 core:OfficeEquipment 2024-03-14 03871848 bus:OrdinaryShareClass1 2024-03-14 03871848 2024-02-29 2024-03-14 03871848 bus:FilletedAccounts 2024-02-29 2024-03-14 03871848 bus:SmallEntities 2024-02-29 2024-03-14 03871848 bus:AuditExemptWithAccountantsReport 2024-02-29 2024-03-14 03871848 bus:PrivateLimitedCompanyLtd 2024-02-29 2024-03-14 03871848 bus:Director1 2024-02-29 2024-03-14 03871848 bus:Director2 2024-02-29 2024-03-14 03871848 bus:Director3 2024-02-29 2024-03-14 03871848 core:PlantMachinery core:TopRangeValue 2024-02-29 2024-03-14 03871848 core:Vehicles core:TopRangeValue 2024-02-29 2024-03-14 03871848 core:OfficeEquipment core:TopRangeValue 2024-02-29 2024-03-14 03871848 2023-08-01 2024-02-28 03871848 core:Non-currentFinancialInstruments 2024-02-29 2024-03-14 03871848 bus:OrdinaryShareClass1 2024-02-29 2024-03-14 03871848 bus:OrdinaryShareClass1 2023-08-01 2024-02-28 03871848 1 2024-02-29 2024-03-14 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03871848 (England and Wales)

THE PENSION DRAWDOWN COMPANY LTD.

Unaudited Financial Statements
For the financial period from 29 February 2024 to 14 March 2024
Pages for filing with the registrar

THE PENSION DRAWDOWN COMPANY LTD.

Unaudited Financial Statements

For the financial period from 29 February 2024 to 14 March 2024

Contents

THE PENSION DRAWDOWN COMPANY LTD.

STATEMENT OF FINANCIAL POSITION

As at 14 March 2024
THE PENSION DRAWDOWN COMPANY LTD.

STATEMENT OF FINANCIAL POSITION (continued)

As at 14 March 2024
Note 14.03.2024 28.02.2024
£ £
Fixed assets
Tangible assets 3 234,078 234,078
234,078 234,078
Current assets
Debtors 4 3,775,654 3,753,845
Cash at bank and in hand 687,015 767,621
4,462,669 4,521,466
Creditors: amounts falling due within one year 5 ( 278,514) ( 318,736)
Net current assets 4,184,155 4,202,730
Total assets less current liabilities 4,418,233 4,436,808
Creditors: amounts falling due after more than one year 6 ( 16,000) ( 16,000)
Provision for liabilities ( 27,000) ( 27,000)
Net assets 4,375,233 4,393,808
Capital and reserves
Called-up share capital 7 10,000 10,000
Profit and loss account 4,365,233 4,383,808
Total shareholder's funds 4,375,233 4,393,808

For the financial period ending 14 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of The Pension Drawdown Company Ltd. (registered number: 03871848) were approved and authorised for issue by the Director on 01 August 2025. They were signed on its behalf by:

Jonathan Paul Walker
Director
THE PENSION DRAWDOWN COMPANY LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 29 February 2024 to 14 March 2024
THE PENSION DRAWDOWN COMPANY LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 29 February 2024 to 14 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

The Pension Drawdown Company 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 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 director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has 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.

Reporting period length

The reporting period length was shortened in both the prior period and current. The prior period was from 01 August 2023 to 28 February 2024, a 7 month period. The current period is from 29 February 2024 to 14 March 2024, a 14 day period.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

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:

Plant and machinery 4 years straight line
Vehicles 4 years straight line
Office equipment 4 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.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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

Period from
29.02.2024 to
14.03.2024
Period from
01.08.2023 to
28.02.2024
Number Number
Monthly average number of persons employed by the Company during the period, including the director 30 30

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 29 February 2024 372 538,985 5,845 545,202
At 14 March 2024 372 538,985 5,845 545,202
Accumulated depreciation
At 29 February 2024 148 307,688 3,288 311,124
At 14 March 2024 148 307,688 3,288 311,124
Net book value
At 14 March 2024 224 231,297 2,557 234,078
At 28 February 2024 224 231,297 2,557 234,078

4. Debtors

14.03.2024 28.02.2024
£ £
Amounts owed by Group undertakings 1,630,673 1,628,267
Deferred tax asset 14,571 15,017
Other debtors 2,130,410 2,110,561
3,775,654 3,753,845

5. Creditors: amounts falling due within one year

14.03.2024 28.02.2024
£ £
Taxation and social security 231,111 242,035
Other creditors 47,403 76,701
278,514 318,736

6. Creditors: amounts falling due after more than one year

14.03.2024 28.02.2024
£ £
Other creditors 16,000 16,000

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

14.03.2024 28.02.2024
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 1.00 each 10,000 10,000

8. Related party transactions

Transactions with owners holding a participating interest in the entity

14.03.2024 28.02.2024
£ £
Amounts owed by intercompany 1,630,673 1,628,267

The movement during the period relates to amounts received or paid by The Pension Drawdown Company Limited on behalf of the related entities.

Other related party transactions

14.03.2024 28.02.2024
£ £
Amounts owed by connected companies 2,124,587 2,104,209

9. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial period.

10. Ultimate controlling party

Parent Company:

The Pension Drawdown Holding Company Limited
Bishop Fleming Brook House Manor Drive, Clyst St. Mary, Exeter, United Kingdom, EX5 1GD