SETIC LIMITED

Company Registration Number:
05552894 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2024

Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

SETIC LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Notes

SETIC LIMITED

Balance sheet

As at 31 December 2024


Notes
2024
2023


£
£
Fixed assets
Tangible assets: 3 91,657 59,258
Total fixed assets: 91,657 59,258
Current assets
Stocks: 505,414 448,963
Debtors: 4 424,988 418,703
Cash at bank and in hand: 572,194 272,533
Total current assets: 1,502,596 1,140,199
Creditors: amounts falling due within one year: 5 (521,384) (383,193)
Net current assets (liabilities): 981,212 757,006
Total assets less current liabilities: 1,072,869 816,264
Provision for liabilities: (17,145) (11,599)
Total net assets (liabilities): 1,055,724 804,665
Capital and reserves
Called up share capital: 65,000 65,000
Profit and loss account: 990,724 739,665
Shareholders funds: 1,055,724 804,665

The notes form part of these financial statements

SETIC LIMITED

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 September 2025
and signed on behalf of the board by:

Name: Mr M R Preece
Status: Director

The notes form part of these financial statements

SETIC LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets and depreciation policy

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery 20% straight line. Motor vehicles 20% straight line. Fixtures and fittings 10% straight line. Computer equipment 25% straight line.

Valuation and information policy

Inventories. Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.

Other accounting policies

1. Taxation. Corporation tax payable is provided on taxable profits at the current rate. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. 2. Short Term Debtors and Creditors. Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss. 3. Cash and cash equivalents. Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. 4. Foreign currencies.Transactions in foreign currencies are initially recorded in the entity’s functional currency by applying the spot exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. 5. Leased Assets. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis. 6. Employee Benefits. The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.

SETIC LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

2. Employees

2024 2023
Average number of employees during the period 5 5

SETIC LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible Assets

Total
Cost £
At 01 January 2024 215,386
Additions 75,415
Disposals (127,340)
At 31 December 2024 163,461
Depreciation
At 01 January 2024 156,128
Charge for year 24,912
On disposals (109,236)
At 31 December 2024 71,804
Net book value
At 31 December 2024 91,657
At 31 December 2023 59,258

SETIC LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

SETIC LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Creditors: amounts falling due within one year note

Trade creditors £188,569. Corporation Tax £150,059. Other taxes and social security £170,710. Other creditors £1,847. Director's loan account £2,784. Accruals £7,415.