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COMPANY REGISTRATION NUMBER: 09453013
DIAS INVESTMENTS LIMITED
Unaudited Financial Statements
31 December 2023
DIAS INVESTMENTS LIMITED
Financial Statements
Year ended 31 December 2023
Contents
Page
Directors' report
1
Income statement
2
Statement of financial position
3
Statement of changes in equity
5
Notes to the financial statements
6
DIAS INVESTMENTS LIMITED
Directors' Report
Year ended 31 December 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2023 .
Principal activities
The principal activity of the company during the year was holding of investments.
Directors
The directors who served the company during the year were as follows:
Fiduci-Corp Directors Limited
Mrs Kyproulla Karantoni
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 26 March 2024 and signed on behalf of the board by:
Fiduci-Corp Directors Limited
Mrs Kyproulla Karantoni
Director
Director
Fiduci-Corp (UK) Services Limited
Company Secretary
DIAS INVESTMENTS LIMITED
Income Statement
Year ended 31 December 2023
2023
2022
Note
Administrative expenses
( 14,715)
( 15,788)
--------
--------
Operating loss
( 14,715)
( 15,788)
Other interest receivable and similar income
8,586
24,746
Amounts written off investments
( 41,000)
Interest payable and similar expenses
( 750)
( 9,185)
--------
--------
Loss before taxation
4
( 47,879)
( 227)
Tax on loss
--------
----
Loss for the financial year
( 47,879)
( 227)
--------
----
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
DIAS INVESTMENTS LIMITED
Statement of Financial Position
31 December 2023
2023
2022
Note
Fixed assets
Investments
6
3,754,740
3,787,240
Current assets
Debtors
7
1,128,267
1,288,282
Cash at bank and in hand
36,217
67,444
------------
------------
1,164,484
1,355,726
Creditors: amounts falling due within one year
8
4,907,328
5,083,941
------------
------------
Net current liabilities
3,742,844
3,728,215
------------
------------
Total assets less current liabilities
11,896
59,025
Creditors: amounts falling due after more than one year
9
101,547
100,797
---------
---------
Net liabilities
( 89,651)
( 41,772)
---------
---------
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
( 99,651)
( 51,772)
--------
--------
Shareholders deficit
( 89,651)
( 41,772)
--------
--------
These financial statements have been prepared 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'.
For the year ending 31 December 2023 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 .
DIAS INVESTMENTS LIMITED
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 26 March 2024 , and are signed on behalf of the board by:
Fiduci-Corp Directors Limited
Mrs Kyproulla Karantoni
Director
Director
Company registration number: 09453013
DIAS INVESTMENTS LIMITED
Statement of Changes in Equity
Year ended 31 December 2023
Called up share capital
Profit and loss account
Total
At 1 January 2022
10,000
( 51,545)
( 41,545)
Loss for the year
( 227)
( 227)
--------
--------
--------
Total comprehensive income for the year
( 227)
( 227)
At 31 December 2022
10,000
( 51,772)
( 41,772)
Loss for the year
( 47,879)
( 47,879)
--------
--------
--------
Total comprehensive income for the year
( 47,879)
( 47,879)
--------
--------
--------
At 31 December 2023
10,000
( 99,651)
( 89,651)
--------
--------
--------
DIAS INVESTMENTS LIMITED
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is St Georges House, 6th Floor, 15 Hanover Square, London, W1S 1HS, United Kingdom.
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 euro, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
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
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 are 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. Profit before taxation
Profit before taxation is stated after charging:
2023
2022
Depreciation of tangible assets
1,493
Impairment of other fixed asset investments
41,000
--------
-------
5. Tangible assets
Plant and machinery
Total
Cost
At 1 January 2023 and 31 December 2023
25,000
25,000
--------
--------
Depreciation
At 1 January 2023 and 31 December 2023
25,000
25,000
--------
--------
Carrying amount
At 31 December 2023
--------
--------
At 31 December 2022
--------
--------
6. Investments
Shares in group undertakings
Other loans
Total
Cost
At 1 January 2023
1,196,000
2,591,240
3,787,240
Other movements
8,500
8,500
------------
------------
------------
At 31 December 2023
1,196,000
2,599,740
3,795,740
------------
------------
------------
Impairment
At 1 January 2023
Disposals
41,000
41,000
------------
------------
------------
At 31 December 2023
41,000
41,000
------------
------------
------------
Carrying amount
At 31 December 2023
1,155,000
2,599,740
3,754,740
------------
------------
------------
At 31 December 2022
1,196,000
2,591,240
3,787,240
------------
------------
------------
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
LIBRASIO LIMITED
Ordinary
100
7. Debtors
2023
2022
Prepayments and accrued income
298
313
Librasio Limited
60,170
60,170
Other debtors - assignment agreement
1,066,010
1,226,010
Other debtors
1,789
1,789
------------
------------
1,128,267
1,288,282
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
Trade creditors
10,150
1,840
Accruals and deferred income
3,798
3,721
Other creditors - assignment agreement
4,893,380
5,078,380
------------
------------
4,907,328
5,083,941
------------
------------
9. Creditors: amounts falling due after more than one year
2023
2022
Loan payable
101,547
100,797
---------
---------