Fifteen Holdings Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06207702

Fifteen Holdings Ltd

Filleted Unaudited Financial Statements

28 February 2025

Fifteen Holdings Ltd

Statement of Financial Position

28 February 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6	–	3,061
Investments	7	181,421	184,420
		---------	---------
		181,421	187,481

Current assets

Debtors	8	205,098	274,354
Cash at bank and in hand		67	3,642
		---------	---------
		205,165	277,996

Creditors: amounts falling due within one year	9	410,309		333,694
		---------		---------
Net current liabilities			205,144	55,698
			---------	---------
Total assets less current liabilities			( 23,723)	131,783

Creditors: amounts falling due after more than one year	10		2,000	12,245

Provisions

Taxation including deferred tax	–	582
	--------	---------
Net (liabilities)/assets	( 25,723)	118,956
	--------	---------

Fifteen Holdings Ltd

Statement of Financial Position (continued)

28 February 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	393	393
Profit and loss account	( 26,116)	118,563
	--------	---------
Shareholders (deficit)/funds	( 25,723)	118,956
	--------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 10 November 2025 , and are signed on behalf of the board by:

Mr M Graham	Mr R K Adams
Director	Director

Mr M R Adams
Director

Company registration number: 06207702

Fifteen Holdings Ltd

Notes to the Financial Statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Marcus House, Park Hall Business Village, Longton, Stoke-on-Trent, Staffs, ST3 5XA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Motor Vehicles	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).

5. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	160,000	199,500
Dividends proposed after the year end and not recognised as a liability	184,000	160,000
	---------	---------

6. Tangible assets

	Motor vehicles	Total
	£	£
Cost
At 1 March 2024	12,549	12,549
Disposals	( 12,549)	( 12,549)
	--------	--------
At 28 February 2025	–	–
	--------	--------
Depreciation
At 1 March 2024	9,488	9,488
Disposals	( 9,488)	( 9,488)
	--------	--------
At 28 February 2025	–	–
	--------	--------
Carrying amount
At 28 February 2025	–	–
	--------	--------
At 29 February 2024	3,061	3,061
	--------	--------

7. Investments

	Shares in group undertakings	Other investments other than loans	Other loans	Total
	£	£	£	£
Cost
At 1 March 2024	181,275	2	100,000	281,277
Additions	–	139	–	139
	---------	----	---------	---------
At 28 February 2025	181,275	141	100,000	281,416
	---------	----	---------	---------
Impairment
At 1 March 2024	96,857	–	–	96,857
Revaluations	3,138	–	–	3,138
	---------	----	---------	---------
At 28 February 2025	99,995	–	–	99,995
	---------	----	---------	---------

Carrying amount
At 28 February 2025	81,280	141	100,000	181,421
	---------	----	---------	---------
At 29 February 2024	84,418	2	100,000	184,420
	---------	----	---------	---------

The company owns 100% of the issued share capital of 15 Digital Developers Ltd, Fifteen Communications Ltd, Fifteen Group Ltd ang Pegasus Fire and Security Ltd.

Aggregate capital and reserves

15 Digital Developers Ltd (22,426) (23,848)

Fifteen Group Ltd 296,108 291,928

Fifteen Communications Ltd (9,135) 2,420

Pegasus Fire & Security Ltd 105,534 69,597

Profit and (loss) for the year

15 Digital Developers Ltd 1,422 3,123

Fifteen Group Ltd 4,180 (57,260)

Fifteen Communications Ltd (11,555) 2,418

Pegasus Fire & Security Ltd 35,937 583

Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.

During the year the company acquired an additional 10% of the ordinary share capital making a total of 30% ordinary shareholding of CGS Developments (111SS) Ltd and made a interest free loan to the company of £100,000.

8. Debtors

	2025	2024
	£	£
Trade debtors	844	105,844
Other debtors	204,254	168,510
	---------	---------
	205,098	274,354
	---------	---------

The debtors above include the following amounts falling due after more than one year:

	2025	2024
	£	£
Other debtors	1,863	1,853
	-------	-------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,500	10,250
Trade creditors	139,009	107,293
Corporation tax	1,853	1,853
Social security and other taxes	37,129	34,685
Other creditors	221,818	179,613
	---------	---------
	410,309	333,694
	---------	---------

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

	2025	2024
	£	£
Bank loans and overdrafts	2,000	12,245
	-------	--------

11. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	28,000	78,542
Later than 1 year and not later than 5 years	91,000	–
	---------	--------
	119,000	78,542
	---------	--------

12. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr M Graham	45,490	46,934	( 45,948)	46,476
Mr I W Walker	26,117	50,279	( 49,000)	27,396
Mr R K Adams	39,795	69,836	( 45,906)	63,725
Mr M R Adams	22,664	52,690	( 45,904)	29,450
	---------	---------	---------	---------
	134,066	219,739	( 186,758)	167,047
	---------	---------	---------	---------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr M Graham	32,723	51,671	( 38,904)	45,490
Mr I W Walker	18,157	69,364	( 61,404)	26,117
Mr R K Adams	38,804	82,415	( 81,424)	39,795
Mr M R Adams	18,455	65,613	( 61,404)	22,664
	---------	---------	---------	---------
	108,139	269,063	( 243,136)	134,066
	---------	---------	---------	---------

13. Related party transactions

The company was under the control of the directors throughout the current and previous years. The directors and shareholders of this company either as individuals or together control the following companies. Transaction will Subsidiary Companies are: Fifteen Group Ltd. Services were provided to Fifteen Group amounted to £121,136 during the year A dividend of £60,000 was received from Fifteen Group Ltd. The company is owed £844 By Fifteen Group Ltd and owes fifteen group Ltd £327,138 Pegasus Fire & Security Ltd. Pegasus Fire and Security Ltd owes £Nil to fifteen Holdings Ltd and is owed £28,531 by Fifteen Holdings Ltd The balances on the directors loan accounts are interest free and repayable on demand. A dividend of £160,000 was paid to the directors during the year.