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COMPANY REGISTRATION NUMBER: 06298488
DEL SOL HOLDINGS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2022
DEL SOL HOLDINGS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 4
DEL SOL HOLDINGS LIMITED
BALANCE SHEET
31 March 2022
2022
2021
Note
£
£
Fixed assets
Investments
5
873,889
726,671
Current assets
Cash at bank and in hand
109,330
224,999
Creditors: amounts falling due within one year
6
( 136,821)
( 186,345)
------------
------------
Net current (liabilities)/assets
( 27,491)
38,654
------------
------------
Total assets less current liabilities
846,398
765,325
Provisions
Taxation including deferred tax
10,600
16,500
------------
------------
Net assets
856,998
781,825
------------
------------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
856,898
781,725
------------
------------
Shareholders funds
856,998
781,825
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 September 2022 , and are signed on behalf of the board by:
R A B Mansaf
Director
Company registration number: 06298488
DEL SOL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, HD1 1PA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or 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 that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tax on profit
Major components of tax expense
2022
2021
£
£
Current tax:
UK current tax expense
162
Deferred tax:
Origination and reversal of timing differences
5,900
18,100
------------
------------
Tax on profit
5,900
18,262
------------
------------
5. Investments
Shares in group undertakings
Listed investments
Total
£
£
£
Cost
At 1 April 2021
180,565
546,106
726,671
Additions
136,878
136,878
Revaluations
10,340
10,340
------------
------------
------------
At 31 March 2022
180,565
693,324
873,889
------------
------------
------------
Impairment
At 1 April 2021 and 31 March 2022
------------
------------
------------
Carrying amount
At 31 March 2022
180,565
693,324
873,889
------------
------------
------------
At 31 March 2021
180,565
546,106
726,671
------------
------------
------------
The company's subsidiary undertaking is as follows:
Company Activity Ordinary shares
Held
Del Sol Air Systems Limited Installation and service
of heating and cooling systems, 100%
and the provision of
commercial plumbing services.
6. Creditors: amounts falling due within one year
2022
2021
£
£
Amounts owed to group undertakings
49,362
Corporation tax
162
Director loan accounts
136,821
136,821
------------
------------
136,821
186,345
------------
------------
7. Deferred tax
The deferred tax included in the balance sheet is as follows:
2022
2021
£
£
Included in provisions
( 10,600)
( 16,500)
------------
------------
The deferred tax account consists of the tax effect of timing differences in respect of:
2022
2021
£
£
Fair value adjustment of financial assets
( 10,600)
( 16,500)
------------
------------
8. Called up share capital
Issued, called up and fully paid
2022
2021
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
9. Related party transactions
The directors' loan accounts are unsecured, repayable on demand and currently interest free. The company is controlled by R A B Mansaf .