REGISTERED NUMBER: 03614581 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

CYGNET HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Neil Andrew Arkwright

SECRETARY:

Marion Arkwright

REGISTERED OFFICE:

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

REGISTERED NUMBER:

03614581 (England and Wales)

ACCOUNTANTS:

Wallwork Nelson & Johnson

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Intangible assets

4

671

1,821

Tangible assets

5

1,206

15,595

Investments

6

65,101

101

Investment property

7

745,781

745,781

812,759

763,298

CURRENT ASSETS

Stocks

8

111,944

111,944

Debtors

9

137,936

237,577

Cash at bank and in hand

541,827

567,423

791,707

916,944

CREDITORS

Amounts falling due within one year

10

204,268

236,796

NET CURRENT ASSETS

587,439

680,148

TOTAL ASSETS LESS CURRENT LIABILITIES

1,400,198

1,443,446

CREDITORS

Amounts falling due after more than one year

11

(91,035

)

(114,969

)

PROVISIONS FOR LIABILITIES

15

(6,761

)

(9,495

)

NET ASSETS

1,302,402

1,318,982

CAPITAL AND RESERVES

Called up share capital

16

54

54

Share premium

179,950

179,950

Fair value reserve

17

135,124

135,124

Retained earnings

987,274

1,003,854

SHAREHOLDERS' FUNDS

1,302,402

1,318,982

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 director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2025 and were signed by:

Neil Andrew Arkwright - Director

1.	STATUTORY INFORMATION

Cygnet Holdings 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 as modified by the revaluation of certain assets.

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.

Goodwill

Goodwill, being the amounts paid in connection with the acquisition of various customer bases, is being amortised evenly over their estimated useful life of 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under finance lease, over the lease term, whichever is the shorter.

Plant and machinery

- 33% on cost

Fixtures and fittings

- 15% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the profit and loss account on a straight line basis over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus continues to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

123,735

AMORTISATION

At 1 April 2024

121,914

Charge for year

1,150

At 31 March 2025

123,064

NET BOOK VALUE

At 31 March 2025

671

At 31 March 2024

1,821

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

1,540

15,866

16,890

34,296

Disposals

-

-

(16,890

)

(16,890

)

At 31 March 2025

1,540

15,866

-

17,406

DEPRECIATION

At 1 April 2024

1,540

14,448

2,713

18,701

Charge for year

-

212

-

212

Eliminated on disposal

-

-

(2,713

)

(2,713

)

At 31 March 2025

1,540

14,660

-

16,200

NET BOOK VALUE

At 31 March 2025

-

1,206

-

1,206

At 31 March 2024

-

1,418

14,177

15,595

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

101

Additions

65,000

At 31 March 2025

65,101

NET BOOK VALUE

At 31 March 2025

65,101

At 31 March 2024

101

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

745,781

NET BOOK VALUE

At 31 March 2025

745,781

At 31 March 2024

745,781

Fair value at 31 March 2025 is represented by:

£

Valuation in 2006

141,656

Cost

604,125

745,781

The investment properties were valued on an open market basis on 31 March 2025 by the director of the company .

8.

STOCKS

31/3/25

31/3/24

£

£

Stocks

111,944

111,944

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

73,925

154,925

Corporation tax

-

13

VAT

-

2,004

Prepayments and accrued income

64,011

80,635

137,936

237,577

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans and overdrafts (see note 12)

19,626

18,955

Trade creditors

63,485

76,454

Tax

7,291

13,409

Social security and other taxes

285

(228

)

VAT

7,626

-

Other creditors

101

101

Directors' current accounts

52,102

54,787

Accrued expenses

53,752

73,318

204,268

236,796

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans (see note 12)

91,035

114,969

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

6,696

33,517

12.

LOANS

An analysis of the maturity of loans is given below:

31/3/25

31/3/24

£

£

Amounts falling due within one year or on demand:

Bank loans

19,626

18,955

Amounts falling due between one and two years:

Bank loans - 1-2 years

20,193

19,502

31/3/25

31/3/24

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

64,146

61,950

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

6,696

33,517

13.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/3/25

31/3/24

£

£

Within one year

4,930

-

Between one and five years

1,232

-

6,162

-

14.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/25

31/3/24

£

£

Bank loans

110,661

133,924

Amounts included in bank loans and overdrafts are secured by fixed and floating charges over all the assets and undertaking of the company.

15.	PROVISIONS FOR LIABILITIES

31/3/25

31/3/24

£

£

Deferred tax

6,761

9,495

Deferred

tax

£

Balance at 1 April 2024

9,495

Credit to Income Statement during year

(2,734

)

Balance at 31 March 2025

6,761

16.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/25

31/3/24

value:

£

£

54

Ordinary

£1

54

54

17.

RESERVES

Fair

value

reserve

£

At 1 April 2024

and 31 March 2025

135,124

18.	RELATED PARTY DISCLOSURES

Neil Andrew Arkwright is also a director and shareholder of Cygnet Total Communications Limited.

During the year management charges of £19,200 (2024: £19,200) were charged to Cygnet Total Communications Limited. In addition, various goods and services were charged to and from Cygnet Total Communications Limited during the year. Included within trade debtors at 31 March 2025 was an amount of £1,920 (2024: £21,013) and included in trade creditors at 31 March 2025 was an amount of £10,058 (2024: £23,532).

Virair Limited is a subsidiary of Cygnet Holdings Limited.

Included within trade debtors at 31 March 2025 is an amount of £16,430 (2024: £89,075) due from Virair Limited.

19.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director, Neil Andrew Arkwright.