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Company No: 08913094 (England and Wales)

# STRING HOLDINGS LTD

### Unaudited Financial Statements
For the financial year ended 31 December 2025
Pages for filing with the registrar

STRING HOLDINGS LTD

## Unaudited Financial Statements

For the financial year ended 31 December 2025

Contents

STRING HOLDINGS LTD

## BALANCE SHEET

As at 31 December 2025
STRING HOLDINGS LTD

## BALANCE SHEET (continued)

As at 31 December 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investment property | 3 | 280,000 |  | 280,000
Investments | 4 | 1,000 |  | 1,075
|  | 281,000 |  | 281,075
Current assets |  |  |  |
Debtors | 5 | 56,111 |  | 55,162
Cash at bank and in hand |  | 19,871 |  | 20,272
|  | 75,982 |  | 75,434
Creditors: amounts falling due within one year | 6 | ( 74,690) |  | ( 12,251)
Net current assets |  | 1,292 |  | 63,183
Total assets less current liabilities |  | 282,292 |  | 344,258
Creditors: amounts falling due after more than one year | 7 | 0 |  | ( 67,112)
Provision for liabilities |  | ( 32,599) |  | ( 32,599)
Net assets |  | 249,693 |  | 244,547
Capital and reserves |  |  |  |
Called-up share capital | 8 | 1,002 |  | 1,002
Profit and loss account |  | 248,691 |  | 243,545
Total shareholders' funds |  | 249,693 |  | 244,547

For the financial year ending 31 December 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 members have not required the Company to obtain an audit of its financial statements for the financial year 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 String Holdings Ltd (registered number: 08913094) were approved and authorised for issue by the Director on 06 July 2026. They were signed on its behalf by:

S M Pickering Director |

STRING HOLDINGS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025
STRING HOLDINGS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025

##### 1. Accounting policies

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

##### General information and basis of accounting

String Holdings 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 4B Edward V11 Quay, Navigation Way, Preston, Lancashire, PR2 2YF, United Kingdom.
These financial statements have been prepared in accordance with the provisions of Section 1A of FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland, as issued by the Financial Reporting Council and in compliance with the Companies Act 2006, 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 £.

##### Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably.

##### 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.

##### Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

##### Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

##### 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 Balance Sheet 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.

##### Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

##### Impairment of assets

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

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Where a property previously held as an owner-occupied asset is no longer used in the company’s operations and is instead held to earn rentals or for capital appreciation, it is reclassified from tangible fixed assets to investment property. The reclassification is made at the date of change in use, and the property is subsequently measured in accordance with the company’s policy for investment property.
The fair value is determined annually by external valuers and derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### 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 Balance Sheet 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.

##### 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.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 2 |  | 2

The directors did not receive any remuneration in the year (2024: £nil).

#### 3. Investment property

| Investment property
| £
Valuation |
As at 01 January 2025 | 280,000
As at 31 December 2025 | 280,000

In the prior year, the company moved premises and vacated its previously owner-occupied property. On 10 December 2024, the company commenced letting of the vacated property to a third party. As a result of this change in use, the property was reclassified from Leasehold Improvements within tangible fixed assets to Investment Property in accordance with FRS 102 Section 16. The net book value of the property at the date of reclassification was £149,603. Upon reclassification, the property was measured at fair value, being £280,000.
The property continues to be held as investment property at 31 December 2025 and is measured at fair value.

#### 4. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 January 2025 | 1,075
At 31 December 2025 | 1,075
Provisions for impairment |
At 01 January 2025 | 0
Impairment | 75
At 31 December 2025 | 75
Carrying value at 31 December 2025 | 1,000
Carrying value at 31 December 2024 | 1,075

The company holds 75 ordinary shares representing 75% of the issued share capital of Western Business Systems Limited (company number 01864612), incorporated in England and Wales.
The company is currently in liquidation and the investment has been fully impaired in the year.

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Amounts owed by Group undertakings | 55,611 |  | 54,663
Prepayments | 500 |  | 499
| 56,111 |  | 55,162

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

| 2025 |  | 2024
| £ |  | £
Bank loans | 69,264 |  | 8,178
Trade creditors | 600 |  | 600
Accruals | 2,344 |  | 2,324
Taxation and social security | 2,482 |  | 1,149
| 74,690 |  | 12,251

Bank loans represent a mortgage loan secured over the assets of the company. The loan bears interest at 3.4% above the Bank of England base rate per annum and is due for repayment within 12 months of the balance sheet date.
At 31 December 2025, the mortgage facility was due for repayment within 12 months of the balance sheet date and has therefore been classified within creditors falling due within one year. Following the year end, the company has entered into discussions with its lender regarding revised financing arrangements.

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

| 2025 |  | 2024
| £ |  | £
Bank loans | 0 |  | 67,112

Bank loans represent a mortgage loan secured over the assets of the company. The loan bears interest at 3.4% above the Bank of England base rate per annum and is due for repayment within 12 months of the balance sheet date.

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1,000 Ordinary A shares of £ 1.00 each | 1,000 |  | 1,000
2 Ordinary B shares of £ 1.00 each | 2 |  | 2
| 1,002 |  | 1,002

#### 9. Related party transactions

During the year a director was advanced £nil(2024: £2,100) by the company and repaid £nil (2024: £18,119). At the year end, amounts owing to the company from the director amounted to £nil (2024: £nil). The maximum outstanding in the year was £nil (2024: £18,109).