3 30 December 2025 false false false false false false false false true false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 196,571 196,571 196,571 xbrli:pure xbrli:shares iso4217:GBP 05738055 2024-01-01 2024-12-31 05738055 2024-12-31 05738055 2023-12-31 05738055 2023-01-01 2023-12-31 05738055 2023-12-31 05738055 2022-12-31 05738055 bus:Director4 2024-01-01 2024-12-31 05738055 core:WithinOneYear 2024-12-31 05738055 core:WithinOneYear 2023-12-31 05738055 core:ShareCapital 2024-12-31 05738055 core:ShareCapital 2023-12-31 05738055 core:SharePremium 2024-12-31 05738055 core:SharePremium 2023-12-31 05738055 core:CostValuation core:Non-currentFinancialInstruments 2024-12-31 05738055 core:Non-currentFinancialInstruments 2024-12-31 05738055 core:Non-currentFinancialInstruments 2023-12-31 05738055 bus:Director1 2024-01-01 2024-12-31 05738055 bus:SmallEntities 2024-01-01 2024-12-31 05738055 bus:Audited 2024-01-01 2024-12-31 05738055 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05738055 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05738055 bus:FullAccounts 2024-01-01 2024-12-31
COMPANY REGISTRATION NUMBER: 05738055
Practical Holdings Limited
Filleted Financial Statements
31 December 2024
Practical Holdings Limited
Financial Statements
Year ended 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Practical Holdings Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Investments
5
196,571
196,571
Current assets
Debtors
6
393,860
128,860
Creditors: amounts falling due within one year
7
269,680
4,680
---------
---------
Net current assets
124,180
124,180
---------
---------
Total assets less current liabilities
320,751
320,751
---------
---------
Net assets
320,751
320,751
---------
---------
Capital and reserves
Called up share capital
3,100
3,100
Share premium account
317,651
317,651
---------
---------
Shareholders funds
320,751
320,751
---------
---------
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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 30 December 2025 , and are signed on behalf of the board by:
Dr A J Furneaux
Director
Company registration number: 05738055
Practical Holdings Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Practical House, 21-23 Little Broom Street, Camp Hill, Birmingham, West Midlands, B12 0EU.
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. The company's financial statements are consolidated into the financial statements of Tudor Group Holdings Limited as at 31st December 2024 which can be obtained from Camburgh House, 27 New Dover Road, Canterbury, Kent, United Kingdom, CT1 3DN. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.(b) Disclosures in respect of financial instruments have not been presented.(c) No disclosure has been given for the aggregate remuneration of key management personnel. These exemptions have been applied on the basis that Tudor Group Holdings Limited includes equivalent disclosures for Practical Holdings Limited in its consolidated financial statements prepared in accordance with UK GAAP.
Investments
Fixed asset investment are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 January 2024 and 31 December 2024
196,571
---------
Impairment
At 1 January 2024 and 31 December 2024
–
---------
Carrying amount
At 31 December 2024
196,571
---------
At 31 December 2023
196,571
---------
6. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
393,860
128,860
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
269,180
4,180
Other creditors
500
500
---------
-------
269,680
4,680
---------
-------
8. Trading status
The entity did not trade in the period, and is a passive holding company.
9. Contingencies
The company is party to a cross guarantee dated 29 April 2021 between all companies within the Tudor Holdings (UK) group in favour of National Westminster Bank Plc, who hold fixed and floating charges over all assets of the company. The company, through its fellow group undertaking Practical Warranty Limited, provides self-drive hire insurance policies to its customers. In the unlikely event that Practical Warranty Limited is unable to finance the cost of claims arising on the policies sold, then the company would be liable for the excess payments.
10. Summary audit opinion
The auditor's report dated 30 December 2025 was unqualified .
The senior statutory auditor was Alexander Baker BSc ACA , for and on behalf of Burgess Hodgson Audit Limited .
11. Related party transactions
Related party transactions with group companies have not been disclosed as consolidated accounts are prepared by the parent entity.
12. Controlling party
The immediate parent company is Tudor Holdings (UK) Limited. The ultimate parent and controlling party, and the parent of both the largest and smallest group for which consolidated accounts are available, is Tudor Group Holdings Limited. Both entities are registered in England and Wales with the registered office of Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.