Registration number:
Dallas Wilding Drew Ltd
for the Period from 12 January 2021 to 31 December 2021
Dallas Wilding Drew Ltd
(Registration number: 13128315)
Balance Sheet as at 31 December 2021
Note |
2021 |
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£ |
£ |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
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Total equity |
( |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the provisions of FRS 102 Section 1A - small entities.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Dallas Wilding Drew Ltd
Notes to the Financial Statements for the Period from 12 January 2021 to 31 December 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The company's functional and presentation currency is pound sterling.
Disclosure of long or short period
Going concern
At the period end the company has net current liabilities of £137,922. The company is dependent upon the continued support of its parent undertaking and shareholder. On the basis that both parties have indicated that this support will continue, the directors have prepared the accounts on a going concern basis.
Audit report
Revenue recognition
Turnover represents commissions and fees, which are taken to revenue in full at the later of the binding contract date and the renewal or commencement date of the policy; and profit commission which is recognised on receipt.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Dallas Wilding Drew Ltd
Notes to the Financial Statements for the Period from 12 January 2021 to 31 December 2021
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities and other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
33.33% straight line basis |
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Other intangible assets |
33.33% straight line basis |
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Dallas Wilding Drew Ltd
Notes to the Financial Statements for the Period from 12 January 2021 to 31 December 2021
Financial instruments
Financial assets
Basic financial assets, including trade and other receivables, are initially recognised at transaction price, 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 for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 receipts discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Staff numbers |
The average number of persons employed by the company during the period was
Dallas Wilding Drew Ltd
Notes to the Financial Statements for the Period from 12 January 2021 to 31 December 2021
Intangible assets |
Other intangible assets |
Total |
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Cost |
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Additions acquired separately |
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At 31 December 2021 |
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Amortisation |
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Amortisation charge |
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At 31 December 2021 |
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Carrying amount |
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At 31 December 2021 |
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Tangible assets |
Office equipment |
Total |
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Cost |
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Additions |
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At 31 December 2021 |
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Depreciation |
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Charge for the period |
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At 31 December 2021 |
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Carrying amount |
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At 31 December 2021 |
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Debtors |
Note |
2021 |
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Amounts owed by group undertakings |
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Other debtors |
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Prepayments |
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Dallas Wilding Drew Ltd
Notes to the Financial Statements for the Period from 12 January 2021 to 31 December 2021
Creditors |
Note |
2021 |
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Due within one year |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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Share capital |
Allotted, called up and not fully paid shares
2021 |
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No. |
£ |
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|
100 |
Related party transactions |
Income and receivables from related parties
2021 |
Parent |
Key management |
Amounts receivable from related party |
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Expenditure with and payables to related parties
2021 |
Parent |
Amounts payable to related party |
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Parent and ultimate parent undertaking |
The company's immediate parent is
These financial statements are available upon request from Companies House, Crown Way, Cardiff, CF14 3UZ.