Silverfin false false 28/02/2025 15/03/2024 28/02/2025 Roger Mark Easterbrook 28/03/2024 02/06/2014 Jonathan Paul Walker 26/01/2000 05 March 2026 The principal activity of the Company during the financial period was financial management. The trade and certain assets of the company were sold on 28 March 2024. 03871848 2025-02-28 03871848 bus:Director1 2025-02-28 03871848 bus:Director2 2025-02-28 03871848 2024-03-14 03871848 core:CurrentFinancialInstruments 2025-02-28 03871848 core:CurrentFinancialInstruments 2024-03-14 03871848 core:Non-currentFinancialInstruments 2025-02-28 03871848 core:Non-currentFinancialInstruments 2024-03-14 03871848 core:ShareCapital 2025-02-28 03871848 core:ShareCapital 2024-03-14 03871848 core:RetainedEarningsAccumulatedLosses 2025-02-28 03871848 core:RetainedEarningsAccumulatedLosses 2024-03-14 03871848 core:PlantMachinery 2024-03-14 03871848 core:Vehicles 2024-03-14 03871848 core:OfficeEquipment 2024-03-14 03871848 core:PlantMachinery 2025-02-28 03871848 core:Vehicles 2025-02-28 03871848 core:OfficeEquipment 2025-02-28 03871848 2024-02-28 03871848 bus:OrdinaryShareClass1 2025-02-28 03871848 2024-03-15 2025-02-28 03871848 bus:FilletedAccounts 2024-03-15 2025-02-28 03871848 bus:SmallEntities 2024-03-15 2025-02-28 03871848 bus:AuditExemptWithAccountantsReport 2024-03-15 2025-02-28 03871848 bus:PrivateLimitedCompanyLtd 2024-03-15 2025-02-28 03871848 bus:Director1 2024-03-15 2025-02-28 03871848 bus:Director2 2024-03-15 2025-02-28 03871848 core:PlantMachinery core:TopRangeValue 2024-03-15 2025-02-28 03871848 core:Vehicles core:TopRangeValue 2024-03-15 2025-02-28 03871848 core:OfficeEquipment core:TopRangeValue 2024-03-15 2025-02-28 03871848 2024-02-29 2024-03-14 03871848 core:PlantMachinery 2024-03-15 2025-02-28 03871848 core:Vehicles 2024-03-15 2025-02-28 03871848 core:OfficeEquipment 2024-03-15 2025-02-28 03871848 core:Non-currentFinancialInstruments 2024-03-15 2025-02-28 03871848 bus:OrdinaryShareClass1 2024-03-15 2025-02-28 03871848 bus:OrdinaryShareClass1 2024-02-29 2024-03-14 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03871848 (England and Wales)

# THE PENSION DRAWDOWN COMPANY LTD.

### Unaudited Financial Statements
For the financial period from 15 March 2024 to 28 February 2025
Pages for filing with the registrar

THE PENSION DRAWDOWN COMPANY LTD.

## Unaudited Financial Statements

For the financial period from 15 March 2024 to 28 February 2025

Contents

THE PENSION DRAWDOWN COMPANY LTD.

## STATEMENT OF FINANCIAL POSITION

As at 28 February 2025
THE PENSION DRAWDOWN COMPANY LTD.

## STATEMENT OF FINANCIAL POSITION (continued)

As at 28 February 2025

| Note | 28.02.2025 |  | 14.03.2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 67,565 |  | 234,078
|  | 67,565 |  | 234,078
Current assets |  |  |  |
Debtors | 4 | 13,258,226 |  | 4,075,654
Cash at bank and in hand |  | 570,789 |  | 687,015
|  | 13,829,015 |  | 4,762,669
Creditors: amounts falling due within one year | 5 | ( 902,184) |  | ( 578,514)
Net current assets |  | 12,926,831 |  | 4,184,155
Total assets less current liabilities |  | 12,994,396 |  | 4,418,233
Creditors: amounts falling due after more than one year | 6 | ( 5,000) |  | ( 16,000)
Provision for liabilities | 7 | ( 12,053) |  | ( 27,000)
Net assets |  | 12,977,343 |  | 4,375,233
Capital and reserves |  |  |  |
Called-up share capital | 9 | 10,000 |  | 10,000
Profit and loss account |  | 12,967,343 |  | 4,365,233
Total shareholder's funds |  | 12,977,343 |  | 4,375,233

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

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of The Pension Drawdown Company Ltd. (registered number: 03871848) were approved and authorised for issue by the Director on 05 March 2026. They were signed on its behalf by:

Jonathan Paul Walker Director |

THE PENSION DRAWDOWN COMPANY LTD.

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 15 March 2024 to 28 February 2025
THE PENSION DRAWDOWN COMPANY LTD.

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 15 March 2024 to 28 February 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

##### General information and basis of accounting

The Pension Drawdown Company Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Brook House Manor Drive, Clyst St. Mary, Exeter, EX5 1GD, United Kingdom. The principal place of business is Rockwood House, Princes Point, Park Hill Road, Torquay, TQ1 2DU.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Reporting period length

The reporting period length was shortened in both the prior period and the current period. The prior period was from 1 March 2024 to 14 March 2025, a 14 day period. The current period is from 15 March 2024 to 28 February 2025, a period of approximately 11.5 months.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery | 4 years straight line
Vehicles | 4 years straight line
Office equipment | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| Period from 15.03.2024 to 28.02.2025 |  | Period from 29.02.2024 to 14.03.2024
| Number |  | Number
Monthly average number of persons employed by the Company during the period, including the director | 8 |  | 30

#### 3. Tangible assets

| Plant and machinery |  | Vehicles |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 15 March 2024 | 372 |  | 538,985 |  | 5,845 |  | 545,202
Disposals | ( 372) |  | ( 249,469) |  | ( 5,845) |  | ( 255,686)
At 28 February 2025 | 0 |  | 289,516 |  | 0 |  | 289,516
Accumulated depreciation |  |  |  |  |  |  |
At 15 March 2024 | 148 |  | 307,688 |  | 3,288 |  | 311,124
Charge for the financial period | 0 |  | 93,399 |  | 0 |  | 93,399
Disposals | ( 148) |  | ( 179,136) |  | ( 3,288) |  | ( 182,572)
At 28 February 2025 | 0 |  | 221,951 |  | 0 |  | 221,951
Net book value |  |  |  |  |  |  |
At 28 February 2025 | 0 |  | 67,565 |  | 0 |  | 67,565
At 14 March 2024 | 224 |  | 231,297 |  | 2,557 |  | 234,078

#### 4. Debtors

| 28.02.2025 |  | 14.03.2024
| £ |  | £
Amounts owed by Group undertakings | 6,719,976 |  | 1,930,673
Deferred tax asset | 12,692 |  | 14,571
Other debtors | 6,525,558 |  | 2,130,410
| 13,258,226 |  | 4,075,654

#### 5. Creditors: amounts falling due within one year

| 28.02.2025 |  | 14.03.2024
| £ |  | £
Taxation and social security | 886,604 |  | 231,111
Other creditors | 15,580 |  | 347,403
| 902,184 |  | 578,514

#### 6. Creditors: amounts falling due after more than one year

| 28.02.2025 |  | 14.03.2024
| £ |  | £
Other creditors | 5,000 |  | 16,000

There are no amounts included above in respect of which any security has been given by the small entity.

#### 7. Provision for liabilities

| 28.02.2025 |  | 14.03.2024
| £ |  | £
Other provisions | 12,053 |  | 27,000

Other provisions represent specific customer services costs claims calculated in reference to the excess on the professional indemnity insurance policy.

#### 8. Deferred tax

| 28.02.2025 |  | 14.03.2024
| £ |  | £
At the beginning of financial period | 14,571 |  | 15,017
Charged to the Statement of Income and Retained Earnings | ( 1,879) |  | ( 446)
At the end of financial period | 12,692 |  | 14,571

#### 9. Called-up share capital

| 28.02.2025 |  | 14.03.2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
10,000 Ordinary shares of £ 1.00 each | 10,000 |  | 10,000

#### 10. Related party transactions

Other related party transactions

| 28.02.2025 |  | 14.03.2024
| £ |  | £
Amounts owed by connected companies | 2,556,445 |  | 2,124,587

The Company has taken advantage of the disclosure exemption in FRS 102 1A section 33.1A and not disclosed transactions with 100% owned group Companies.