Company Registration No. 12877883 (England and Wales)
JOSEPH DMS HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
JOSEPH DMS HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
JOSEPH DMS HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2021
31 December 2021
- 1 -
2021
Notes
£
£
Fixed assets
Investments
3
1
Current assets
Debtors
4
77,823
Cash at bank and in hand
1,120,000
1,197,823
Creditors: amounts falling due within one year
5
(1,500)
Net current assets
1,196,323
Net assets
1,196,324
Capital and reserves
Called up share capital
6
100
Profit and loss reserves
1,196,224
Total equity
1,196,324

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 5 September 2022
Mr D M Sillett
Director
Company Registration No. 12877883
JOSEPH DMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
- 2 -
1
Accounting policies
Company information

Joseph DMS Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 16 Harecroft, Fetcham, Leatherhead, KT22 9NS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Reporting period

These financial statements for the period ended 31 December 2021 are the first financial statements of Joseph DMS Holdings Limited. The company was incorporated on 14 September 2020 and therefore the financial statements are for a period of more than one year.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

JOSEPH DMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2021
Number
Total
1
3
Fixed asset investments
2021
£
Investment in Associates
1
JOSEPH DMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2021
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in associates
£
Cost or valuation
At 14 September 2020
-
Additions
1
At 31 December 2021
1
Carrying amount
At 31 December 2021
1
4
Debtors
2021
Amounts falling due within one year:
£
Other debtors
77,823
5
Creditors: amounts falling due within one year
2021
£
Other creditors
1,500
6
Called up share capital
2021
2021
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
100
100

During the period, 1 Ordinary share of £1 was issued on 14 September 2020 and 99 Ordinary shares of £1 each were issued on 01 January 2021, all at par.

7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Mr D M Sillett
2.00
-
76,674
1,149
77,823
-
76,674
1,149
77,823
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