Registration number:
DIO (Holdings) Limited
for the Year Ended 28 February 2023
DIO (Holdings) Limited
Contents
Company Information |
|
Director's Report |
|
Accountants' Report |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
DIO (Holdings) Limited
Company Information
Director |
Mr Roger Marcus Banks |
Company secretary |
Mrs Sarah-Louise Newton Banks |
Registered office |
|
Accountants |
|
DIO (Holdings) Limited
Director's Report for the Year Ended 28 February 2023
The director presents his report and the financial statements for the year ended 28 February 2023.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is that of a holding company.
Small companies provision statement
This report has 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.
Approved by the
.........................................
Mr Roger Marcus Banks
Director
Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
DIO (Holdings) Limited
for the Year Ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DIO (Holdings) Limited for the year ended 28 February 2023 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of DIO (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 accounts of DIO (Holdings) Limited and state those matters that we have agreed to state to the Board of Directors of DIO (Holdings) Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DIO (Holdings) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that DIO (Holdings) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of DIO (Holdings) Limited. You consider that DIO (Holdings) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of DIO (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 accounts.
......................................
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ
DIO (Holdings) Limited
(Registration number: 05352083)
Balance Sheet as at 28 February 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Investments |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
20 |
20 |
|
Retained earnings |
849,739 |
699,689 |
|
Shareholders' funds |
849,759 |
699,709 |
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 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.
Approved and authorised by the
......................................... |
DIO (Holdings) Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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 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 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.
Group accounts not prepared
The company is part of a small group. The company has taken advantage of the exemption provided by Section
398 of the Companies Act 2006 and has not prepared group accounts..
Tax
The tax expense for the period comprises current 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.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
DIO (Holdings) Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
Investments
Investments in subsidaries, associates or jointly controlled entities are measured at fair value with changes in fair value recognised in other comprehensive income.
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.
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.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Financial instruments
Staff numbers |
The average number of persons employed by the company during the year, was
DIO (Holdings) Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
Profit before tax |
Arrived at after charging/(crediting)
2023 |
2022 |
|
Income from shares in group undertakings |
(138,000) |
(44,700) |
Debtors |
Note |
2023 |
2022 |
|
Amounts owed by subsidiary undertakings |
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
|
Due within one year |
|||
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
Investments |
2023 |
2022 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 March 2022 |
|
Revaluation |
|
At 28 February 2023 |
|
Provision |
|
Carrying amount |
|
At 28 February 2023 |
|
At 28 February 2022 |
|
DIO (Holdings) Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
||||
2023 |
2022 |
||||||
Subsidiary undertakings |
|||||||
|
8 The Courtyard, Goldsmith Way, Eliot Business Park, Nuneaton
United Kingdom |
|
|
|
|||
|
8 The Courtyard, Goldsmith Way, Eliot Business Park,Nuneaton
United Kingdom |
|
|
|
|||
|
8 The Courtyard, Goldsmith Way, Eliot Business Park, Nuneaton
United Kingdom |
|
|
|
Subsidiary undertakings |
Dry-It-Out Limited The principal activity of Dry-It-Out Limited is |
The DX Shop Limited The principal activity of The DX Shop Limited is |
Linear Amp UK Ltd The principal activity of Linear Amp UK Ltd is |
DIO (Holdings) Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
10 |
|
10 |
|
|
10 |
|
10 |
|
|
|
|
Reserves |
2022 |
2022 |
|
Distributable reserves |
676,890 |
528,370 |
Non-distributable reserves |
172,849 |
171,319 |
849,739 |
699,689 |
The non-distributable reserves are used to record the increases in the fair value of investments and decreases to the extent that such decreases relates to an increase on the same assets.
Related party transactions |
Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with wholly owned entities within the group.