Registered number
07529472
Set3 Solutions Limited
Filleted Accounts
31 January 2025
Set3 Solutions Limited
Registered number: 07529472
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 316,466 99,786
Current assets
Debtors 4 547,638 616,432
Investments held as current assets 5 280 280
Cash at bank and in hand 606,394 644,984
1,154,312 1,261,696
Creditors: amounts falling due within one year 6 (521,459) (611,260)
Net current assets 632,853 650,436
Total assets less current liabilities 949,319 750,222
Creditors: amounts falling due after more than one year 7 (169,214) (53,737)
Net assets 780,105 696,485
Capital and reserves
Called up share capital 6 6
Profit and loss account 780,099 696,479
Shareholders' funds 780,105 696,485
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Blackmore
Director
Approved by the board on 23 July 2025
Set3 Solutions Limited
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2024 46,144 305,451 351,595
Additions 1,082 343,840 344,922
Disposals - (305,451) (305,451)
At 31 January 2025 47,226 343,840 391,066
Depreciation
At 1 February 2024 34,622 217,187 251,809
Charge for the year 4,161 76,891 81,052
On disposals - (258,261) (258,261)
At 31 January 2025 38,783 35,817 74,600
Net book value
At 31 January 2025 8,443 308,023 316,466
At 31 January 2024 11,522 88,264 99,786
4 Debtors 2025 2024
£ £
Trade debtors 548,721 617,515
Other debtors (1,083) (1,083)
547,638 616,432
5 Investments held as current assets 2025 2024
£ £
Fair value
Unlisted investments 280 280
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 397,361 430,787
Taxation and social security costs 123,061 179,434
Other creditors 1,037 1,039
521,459 611,260
7 Creditors: amounts falling due after one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 169,214 53,737
8 Other information
Set3 Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4 Pondtail Farm
West Grinstead
West Sussex
RH13 8LN
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