REGISTERED NUMBER: 07192516 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SET88 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr C Paton

Mrs J Paton

Miss A Paton

Miss L Paton

REGISTERED OFFICE:

The Old Orchard

Abbotskerswell

Newton Abbot

Devon

TQ12 5NY

REGISTERED NUMBER:

07192516 (England and Wales)

ACCOUNTANTS:

Marsland Nash Associates

Chartered Tax Advisers, Accountants

and Business Consultants

Vantage Point House

Silverhills Road

Decoy Industrial Estate

Newton Abbot

Devon

TQ12 5ND

BANKERS:

Santander

Bridle Road

Bootle

Merseyside

L30 4GB

FIXED ASSETS

Tangible assets

4

16,865

16,742

CURRENT ASSETS

Debtors

5

14,321

296,638

Cash at bank

401,936

164,818

416,257

461,456

CREDITORS

Amounts falling due within one year

6

28,215

60,528

NET CURRENT ASSETS

388,042

400,928

TOTAL ASSETS LESS CURRENT LIABILITIES

404,907

417,670

PROVISIONS FOR LIABILITIES

637

619

NET ASSETS

404,270

417,051

CAPITAL AND RESERVES

Called up share capital

50

50

Retained earnings

404,220

417,001

SHAREHOLDERS' FUNDS

404,270

417,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:

Mr C Paton - Director

1.	STATUTORY INFORMATION

Set88 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

Nil

Plant and machinery

-

20% on cost

Computer equipment

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 April 2024

13,514

1,132

11,943

26,589

Additions

-

-

2,208

2,208

At 31 March 2025

13,514

1,132

14,151

28,797

DEPRECIATION

At 1 April 2024

-

381

9,466

9,847

Charge for year

-

226

1,859

2,085

At 31 March 2025

-

607

11,325

11,932

NET BOOK VALUE

At 31 March 2025

13,514

525

2,826

16,865

At 31 March 2024

13,514

751

2,477

16,742

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

9,264

9,758

Directors' current accounts

426

286,880

VAT

4,631

-

14,321

296,638

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Tax

2,033

1,451

Social security and other taxes

450

2,909

VAT

-

9,342

Directors' current accounts

24,096

45,190

Accrued expenses

1,636

1,636

28,215

60,528

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

Mr C Paton and Mrs J Paton

Balance outstanding at start of year

(6,899

)

(7,065

)

Amounts advanced

22,088

68,028

Amounts repaid

(39,588

)

(67,862

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(24,399

)

(6,899

)

Miss A Paton

Balance outstanding at start of year

286,880

(15,000

)

Amounts advanced

3,977

353,880

Amounts repaid

(290,431

)

(52,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

426

286,880

Miss L Paton

Balance outstanding at start of year

(38,291

)

(15,000

)

Amounts advanced

62,496

1,100

Amounts repaid

(24,800

)

(24,391

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(595

)

(38,291

)

Loans are unsecured and repayable on demand. No interest is paid on amounts loaned to the company.

Interest is charged at 3.75% on loans from the company.

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £21,650 (2024 - £16,500) were paid to the directors .

Use of home as office

During the year, the company rented the directors personal residence under a Licence to Occupy agreement for £1,546 ( 2024: £1,546).