Company registration number 05279390 (England and Wales)
FIDUCIA HOLDINGS (DEDHAM) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
FIDUCIA HOLDINGS (DEDHAM) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
FIDUCIA HOLDINGS (DEDHAM) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
288,597
288,597
Current assets
-
-
Creditors: amounts falling due within one year
5
(14,000)
Net current liabilities
(14,000)
Net assets
288,597
274,597
Capital and reserves
Called up share capital
6
1,000
1,000
Share premium account
149,935
149,935
Profit and loss reserves
137,662
123,662
Total equity
288,597
274,597
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 20 March 2024 and are signed on its behalf by:
G Kearney
Director
Company registration number 05279390 (England and Wales)
FIDUCIA HOLDINGS (DEDHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Fiducia Holdings (Dedham) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dedham Hall Business Centre, Brook Street, Dedham, Essex, CO7 6AD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.3
Financial instruments
Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.
Financial assets comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital.
Investments, including those in subsidiary undertakings are held at fair value at the balance sheet date, with gains and losses being recognised within income and expenditure.
Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
FIDUCIA HOLDINGS (DEDHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
3
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
288,597
288,597
Fixed asset investments not carried at market value
Fixed asset investments are all investments in subsidiary companies and are stated at cost. Details of the underlying net assets of the investments are shown in Note 4 - Subsidiaries.
FIDUCIA HOLDINGS (DEDHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Subsidiaries
These financial statements are separate company financial statements for Fiducia Holdings (Dedham) Limited. No consolidated financial statements for the group have been prepared.
Details of the company's subsidiaries at 31 December 2023 are as follows:
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Fiducia Wealth Management Limited
England & Wales
Wealth management
Ordinary
100.00
Fiducia Investment Management Limited
England & Wales
Dormant
Ordinary
100.00
Fiducia Finance Limited
England & Wales
Dormant
Ordinary
100.00
Fiducia Corporate Finance Limited
England & Wales
Dormant
Ordinary
100.00
Fiducia Family Office Limited
England & Wales
Dormant
Ordinary
100.00
Financial Planning Organisation Limited
England & Wales
Dormant
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Fiducia Wealth Management Limited
140,864
155,727
Fiducia Investment Management Limited
1
(645)
Fiducia Finance Limited
1
-
Fiducia Corporate Finance Limited
1
-
Fiducia Family Office Limited
1
-
Financial Planning Organisation Limited
-
(11,271)
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
14,000
6
Share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
7
Financial commitments, guarantees and contingent liabilities
The director, J H Millican, holds a fixed and floating charge over the company and its assets.
FIDUCIA HOLDINGS (DEDHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
8
Parent company
The company is 100% owned by Fisslewick Limited, a company controlled by G Kearney and S Laws.