Challenge Holdings Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

Registered number: 11543764

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investments	4		979,539		-

			979,539		-
CURRENT ASSETS
Debtors	5	1,684,672		1,307,328
Cash at bank and in hand		267,550		27,266

		1,952,222		1,334,594
Creditors: Amounts Falling Due Within One Year	6	(55,776 )		(8,266 )

NET CURRENT ASSETS (LIABILITIES)			1,896,446		1,326,328

TOTAL ASSETS LESS CURRENT LIABILITIES			2,875,985		1,326,328

NET ASSETS			2,875,985		1,326,328

CAPITAL AND RESERVES
Called up share capital	7		1		1
Profit and Loss Account			2,875,984		1,326,327

SHAREHOLDERS' FUNDS			2,875,985		1,326,328

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

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

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

S Marr

Director

26/12/2025

The notes on pages 2 to 4 form part of these financial statements.

1. General Information

Challenge Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11543764 . The registered office is 59 Studdridge Street, London, SW6 3SL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Significant judgements and estimations

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the opinion of the directors there are no judgements or key sources of estimation uncertainty that affect the preparation of the financial statements.

2.3. Turnover

Turnover is stated net of VAT. Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date, turnover represents the value of the services provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

2.4. Financial Instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial assets, including loans receivable, are initially recognised at transaction price and subsequently measured at amortised cost, using the effective interest method, less any impairment. Loans are reviewed at each reporting date for indicators of impairment, and any losses are recognised in profit or loss.

Financial liabilities, including borrowings and other loans payable, are recognised at transaction price and subsequently measured at amortised cost.

Interest income and interest expense arising on fixed-rate loan agreements are recognised in the profit and loss account on an accruals basis, using the effective interest rate applicable to each agreement.

The Company does not hold or issue financial instruments for trading purposes and does not apply hedge accounting.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. 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.

2.7. 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.

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Challenge Holdings Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. Fixed Asset Investments

The company holds investments in equity shares as part of a fund management portfolio, other equity investments in companies, and short-term loans to companies.

Investments held within the fund management portfolio are measured at fair value, with movements in fair value recognised in profit or loss. Other equity investments are measured at cost less any accumulated impairment losses. Short-term loans are recognised initially at transaction price and subsequently measured at amortised cost, less any provision for impairment.

The carrying value of all investments is reviewed at each reporting date to assess whether there is any indication of impairment.

Fair Value Measurement

The fair value of investments held within the fund management portfolio is based on valuations provided by the external fund manager at the balance sheet date.

Impairment

At the reporting date, the directors reviewed the recoverability of the investments and concluded that the investment in Hyperion Development Corporation, with a carrying value of £126,950, was irrecoverable and has been written off, as the company has been struck off.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

4. Investments

	Unlisted
	£
Cost or Valuation
As at 1 January 2024	-
Additions	979,539

As at 31 December 2024	979,539

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	979,539

As at 1 January 2024	-

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	29,722	-
Other debtors	1,654,950	1,307,328

	1,684,672	1,307,328

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Challenge Holdings Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	1,020	167
Other creditors	1,418	1,356
Taxation and social security	53,338	6,743

	55,776	8,266

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

8. Directors Advances, Credits and Guarantees

Included in other debtors is a loan from the company to the director in the amount of £170,070 (2023: £252,447). During the year, the company made advances to a director amounting to £325,120 (2023: £404,844). The company received repayments of £407,497 (2023: £9,497). Interest of 2.25% has been charged.

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Sebastian Andrew Marr	252,447	325,120	407,497	-	170,070

9. Reserves

	Profit and Loss Account
	£
As at 1 January 2024	1,326,327
Profit for the year and total comprehensive income	1,549,657

As at 31 December 2024	2,875,984

10.

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