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Registration number: 13203603

DLS FX Investments Ltd

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 28 February 2023

 

DLS FX Investments Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

DLS FX Investments Ltd

Company Information

Director

Mr D L Samuel

Registered office

13 Heol Mynydd
Cilfynydd
Pontypridd
Rhondda Cynon Taff
CF37 4HG

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

DLS FX Investments Ltd

(Registration number: 13203603)
Abridged Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Other financial assets

4

3,876

5,131

Current assets

 

Cash at bank and in hand

 

442

487

Prepayments and accrued income

 

3,330

3,330

Creditors: Amounts falling due within one year

(24,559)

(18,819)

Net current liabilities

 

(20,787)

(15,002)

Total assets less current liabilities

 

(16,911)

(9,871)

Accruals and deferred income

 

(1,080)

(850)

Net liabilities

 

(17,991)

(10,721)

Capital and reserves

 

Called up share capital

5

1

1

Retained earnings

(17,992)

(10,722)

Shareholders' deficit

 

(17,991)

(10,721)

 

DLS FX Investments Ltd

(Registration number: 13203603)
Abridged Balance Sheet as at 28 February 2023

For the financial year ending 28 February 2023 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 September 2023
 

.........................................

Mr D L Samuel
Director

 

DLS FX Investments Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
13 Heol Mynydd
Cilfynydd
Pontypridd
Rhondda Cynon Taff
CF37 4HG

These financial statements were authorised for issue by the director on 25 September 2023.

2

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Going concern

The company balance sheet is showing negative reserves due to losses made in the financial year. The director remains fully committed to the company and forecasts that it will be able ot meet its day to day working capital requirements to continue trading into the foreseeable future. For these reasons the director considers the going concern basis is appropriate.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

DLS FX Investments Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

DLS FX Investments Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

4

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 March 2022

5,131

5,131

Revaluations

(1,255)

(1,255)

At 28 February 2023

3,876

3,876

Impairment

Carrying amount

At 28 February 2023

3,876

3,876

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

6

Related party transactions

Key management personnel

Relationship: Director

Summary of transactions with key management

During the year the director provided the company with an unsecured, interest free, repayable on demand loan. At the balance sheet date the amount due to the director was £23,539 (2022 - £18,819).