Silverfin false false 31/01/2025 01/08/2023 31/01/2025 Daniel James Lee 23/07/2015 31 July 2025 The principal activity of the company during the year was commerial chartering of boats. The company ceased to trade on 31 January 2025. 09699057 2025-01-31 09699057 bus:Director1 2025-01-31 09699057 2023-07-31 09699057 core:CurrentFinancialInstruments 2025-01-31 09699057 core:CurrentFinancialInstruments 2023-07-31 09699057 core:ShareCapital 2025-01-31 09699057 core:ShareCapital 2023-07-31 09699057 core:RetainedEarningsAccumulatedLosses 2025-01-31 09699057 core:RetainedEarningsAccumulatedLosses 2023-07-31 09699057 core:OtherPropertyPlantEquipment 2023-07-31 09699057 core:OtherPropertyPlantEquipment 2025-01-31 09699057 bus:OrdinaryShareClass1 2025-01-31 09699057 2023-08-01 2025-01-31 09699057 bus:FilletedAccounts 2023-08-01 2025-01-31 09699057 bus:SmallEntities 2023-08-01 2025-01-31 09699057 bus:AuditExemptWithAccountantsReport 2023-08-01 2025-01-31 09699057 bus:PrivateLimitedCompanyLtd 2023-08-01 2025-01-31 09699057 bus:Director1 2023-08-01 2025-01-31 09699057 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-08-01 2025-01-31 09699057 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-08-01 2025-01-31 09699057 2022-08-01 2023-07-31 09699057 core:OtherPropertyPlantEquipment 2023-08-01 2025-01-31 09699057 bus:OrdinaryShareClass1 2023-08-01 2025-01-31 09699057 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 09699057 1 2023-08-01 2025-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09699057 (England and Wales)

# CIRCUIT HOLDINGS LTD

### Unaudited Financial Statements
For the financial period from 01 August 2023 to 31 January 2025
Pages for filing with the registrar

CIRCUIT HOLDINGS LTD

## Unaudited Financial Statements

For the financial period from 01 August 2023 to 31 January 2025

Contents

CIRCUIT HOLDINGS LTD

## COMPANY INFORMATION

For the financial period from 01 August 2023 to 31 January 2025
CIRCUIT HOLDINGS LTD

## COMPANY INFORMATION (continued)

For the financial period from 01 August 2023 to 31 January 2025

DIRECTOR | Daniel James Lee

REGISTERED OFFICE | 1 Fore Street Avenue
| C/O Praxis
| London
| EC2Y 9DT
| United Kingdom

COMPANY NUMBER | 09699057 (England and Wales)

ACCOUNTANT | Praxis
| 1 Fore Street Avenue
| London
| EC2Y 9DT
| United Kingdom

CIRCUIT HOLDINGS LTD

## BALANCE SHEET

As at 31 January 2025
CIRCUIT HOLDINGS LTD

## BALANCE SHEET (continued)

As at 31 January 2025

| Note | 31.01.2025 |  | 31.07.2023
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 0 |  | 2,582
|  | 0 |  | 2,582
Current assets |  |  |  |
Debtors | 4 | 125,617 |  | 15,659
Cash at bank and in hand |  | 145,045 |  | 226,946
|  | 270,662 |  | 242,605
Creditors: amounts falling due within one year | 5 | ( 441,721) |  | ( 460,030)
Net current liabilities |  | (171,059) |  | (217,425)
Total assets less current liabilities |  | (171,059) |  | (214,843)
Net liabilities |  | ( 171,059) |  | ( 214,843)
Capital and reserves |  |  |  |
Called-up share capital | 6 | 1 |  | 1
Profit and loss account |  | ( 171,060 ) |  | ( 214,844 )
Total shareholder's deficit |  | ( 171,059) |  | ( 214,843)

For the financial period ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Circuit Holdings Ltd (registered number: 09699057) were approved and authorised for issue by the Director on 31 July 2025. They were signed on its behalf by:

Daniel James Lee Director |

CIRCUIT HOLDINGS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 August 2023 to 31 January 2025
CIRCUIT HOLDINGS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 August 2023 to 31 January 2025

##### 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 year, unless otherwise stated.

##### General information and basis of accounting

Circuit Holdings 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 1 Fore Street Avenue, C/O Praxis, London, EC2Y 9DT, 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 made the decision that the Company would cease trading in January 2025. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

##### Reporting period length

The accounts have been prepared for an 18 month period to 31 January 2025 to coincide with the date of cessation.

##### 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 Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account 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.

##### 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 Balance Sheet date.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 10 - 15 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.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| Period from 01.08.2023 to 31.01.2025 |  | Year ended 31.07.2023
| Number |  | Number
Monthly average number of persons employed by the Company during the period, including the director | 0 |  | 0

#### 3. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 August 2023 | 3,916 |  | 3,916
Disposals | ( 3,916) |  | ( 3,916)
At 31 January 2025 | 0 |  | 0
Accumulated depreciation |  |  |
At 01 August 2023 | 1,334 |  | 1,334
Charge for the financial period | 196 |  | 196
Disposals | ( 1,530) |  | ( 1,530)
At 31 January 2025 | 0 |  | 0
Net book value |  |  |
At 31 January 2025 | 0 |  | 0
At 31 July 2023 | 2,582 |  | 2,582

#### 4. Debtors

| 31.01.2025 |  | 31.07.2023
| £ |  | £
Trade debtors | 116,130 |  | 1,122
Other debtors | 9,487 |  | 14,537
| 125,617 |  | 15,659

#### 5. Creditors: amounts falling due within one year

| 31.01.2025 |  | 31.07.2023
| £ |  | £
Other creditors | 441,721 |  | 460,030

#### 6. Called-up share capital

| 31.01.2025 |  | 31.07.2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1 Ordinary share of £ 1.00 | 1 |  | 1

#### 7. Financial commitments

The Company had no material capital commitments at the period ended 31 January 2025.

#### 8. Events after the Balance Sheet date

The company ceased to trade at the balance sheet date. All assets have been realised since the balance sheet date for the value in these financial statements. The bank account has been closed. The loan creditor has accepted a reduced sum as a result of net liabilities.