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2022-11-21
Sage Accounts Production 23.0 - FRS102_2021
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Company registration number:
NI692723
Door Store Holdings Limited
Unaudited filleted financial statements
31 March 2023
Door Store Holdings Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Door Store Holdings Limited
Directors and other information
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Directors |
Mr Ian Annesley |
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Mrs Avril Annesley |
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Mr Stuart Annesley |
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Mrs Amy Annesley Pearse |
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Mrs Victoria Annesley Turner |
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Company number |
NI692723 |
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Registered office |
c/o Hill Vellacott |
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22 Great Victoria Street |
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Belfast |
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BT2 7BA |
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Accountants |
Hill Vellacott |
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22 Great Victoria Street |
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Belfast |
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BT2 7BA |
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Report to the board of directors on the preparation of the
unaudited statutory financial statements of
Door Store Holdings Limited
Period ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Door Store Holdings Limited for the period ended 31 March 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the board of directors of Door Store Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Door Store Holdings Limited and state those matters that we have agreed to state to the board of directors of Door Store Holdings Limited as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Door Store Holdings Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Door Store Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Door Store Holdings Limited. You consider that Door Store Holdings Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Door Store Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hill Vellacott
22 Great Victoria Street
Belfast
BT2 7BA
4 October 2023
Door Store Holdings Limited
Statement of financial position
31 March 2023
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31/03/23 |
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Note |
£ |
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£ |
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Fixed assets |
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Investments |
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4 |
9,146,877 |
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_______ |
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9,146,877 |
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Current assets |
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Debtors |
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5 |
683 |
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_______ |
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683 |
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Net current assets |
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683 |
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_______ |
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Total assets less current liabilities |
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9,147,560 |
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_______ |
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Net assets |
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9,147,560 |
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_______ |
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Capital and reserves |
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Called up share capital |
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8 |
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9,147,196 |
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Profit and loss account |
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364 |
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_______ |
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Shareholders funds |
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9,147,560 |
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_______ |
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For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
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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 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 statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
04 October 2023
, and are signed on behalf of the board by:
Mr Ian Annesley
Director
Company registration number:
NI692723
Door Store Holdings Limited
Notes to the financial statements
Period ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is c/o Hill Vellacott, 22 Great Victoria Street, Belfast, BT2 7BA.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Exceptional items
Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Fixed asset 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
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Investments
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Shares in group company |
Total |
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£ |
£ |
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Cost |
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At 21 November 2022 |
- |
- |
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Additions |
28,715,685 |
28,715,685 |
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Disposals |
(
19,568,808) |
(
19,568,808) |
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_______ |
_______ |
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At 31 March 2023 |
9,146,877 |
9,146,877 |
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_______ |
_______ |
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Impairment |
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At 21 November 2022 and 31 March 2023 |
- |
- |
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_______ |
_______ |
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Carrying amount |
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At 31 March 2023 |
9,146,877 |
9,146,877 |
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_______ |
_______ |
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5.
Debtors
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31/03/23 |
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£ |
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Other debtors |
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683 |
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_______ |
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6.
Controlling party
The controlling party is
Mr Ian Annesley
due to his shareholding in the company.
7.
Share Capital
On incorporation the company issued 683 Ordinary Shares with a nominal value of £1 each. On 28 February 2023 the company issued a further 19,568,808 Ordinary Shares with a nominal value of £1 each, on the same date the shares were reclassified into 9,147,196 A Ordinary Shares and 10. 422.295 B Ordinary Shares with a nominal value of £1 each. On 28 February 2023 the company cancelled the 10,422,295 B Ordinary Shares.