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Registered number: 08272260









DAYS HOLDINGS (SOHAM) LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
DAYS HOLDINGS (SOHAM) LIMITED
REGISTERED NUMBER: 08272260

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,249
2,646

Investments
 5 
25,000
25,000

Investment property
 6 
3,389,422
3,084,422

Current assets
  
3,416,671
3,112,068

Cash at bank and in hand
  
12,014
132,998

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(739,846)
(741,618)

Net current liabilities
  
 
 
(727,832)
 
 
(608,620)

Total assets less current liabilities
  
2,688,839
2,503,448

Creditors: amounts falling due after more than one year
 8 
(1,350,000)
(1,500,000)

Provisions for liabilities
  

Deferred tax
 9 
(156,300)
(60,924)

Net assets
  
1,182,539
942,524


Capital and reserves
  

Called up share capital 
 10 
2
2

Share premium account
  
149,999
149,999

Profit and loss account
  
1,032,538
792,523

  
1,182,539
942,524


Page 1

 
DAYS HOLDINGS (SOHAM) LIMITED
REGISTERED NUMBER: 08272260

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






Mrs W M Day
Director

Date: 29 January 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
DAYS HOLDINGS (SOHAM) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


GENERAL INFORMATION

Days Holdings (Soham) Limited is a private Company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is 2 The Birches, Soham, Ely, Cambs, CB7 5FH. This Company is part of a small group.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
DAYS HOLDINGS (SOHAM) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
DAYS HOLDINGS (SOHAM) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.8

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
DAYS HOLDINGS (SOHAM) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
DAYS HOLDINGS (SOHAM) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


TANGIBLE FIXED ASSETS





Other fixed assets

£



Cost


At 1 April 2022
3,662



At 31 March 2023

3,662



Depreciation


At 1 April 2022
1,016


Charge for the year on owned assets
397



At 31 March 2023

1,413



Net book value



At 31 March 2023
2,249



At 31 March 2022
2,646

Page 7

 
DAYS HOLDINGS (SOHAM) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



Valuation


At 1 April 2022
156,600



At 31 March 2023

156,600



Impairment


At 1 April 2022
131,600



At 31 March 2023

131,600



Net book value



At 31 March 2023
25,000



At 31 March 2022
25,000


SUBSIDIARY UNDERTAKING


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Day Developments Limited
2 The Birches, Soham, Ely, Cambs, United Kingdom, CB7 5FH
Ordinary
100%

The aggregate of the share capital and reserves as at 31 March 2023 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

Day Developments Limited
6,807
(2,260)

Page 8

 
DAYS HOLDINGS (SOHAM) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


INVESTMENT PROPERTY


Freehold investment property

£



Valuation


At 1 April 2022
3,084,422


Surplus on revaluation
305,000



At 31 March 2023
3,389,422


Comprising


Cost
2,464,422

Annual revaluation surplus/(deficit):


2018 and previous
545,000

2019
75,000

2023
305,000

At 31 March 2023
3,389,422

The 2023 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
2,464,422
2,464,422


7.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Corporation tax
7,320
9,390

Other taxation and social security
370
275

Other creditors
712,647
712,518

Accruals and deferred income
19,509
19,435

739,846
741,618



8.


CREDITORS: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
1,350,000
1,500,000


Page 9

 
DAYS HOLDINGS (SOHAM) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


DEFERRED TAXATION




2023
2022


£

£






At beginning of year
(60,924)
(62,072)


Charged to profit or loss
(95,376)
1,148



At end of year
(156,300)
(60,924)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(562)
(503)

Revalued investment properties
(155,759)
(60,427)

Pension surplus
21
6

(156,300)
(60,924)


10.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



11.


PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £329 (2022 - £299). Contributions totalling £196 (2022 - £67) were payable to the fund at the balance sheet date and are included in creditors.


12.


RELATED PARTY TRANSACTIONS

During the year the Company operated loans with the director of the Company. The amount payable to the director of the Company at the year end was £712,452 (2022 - £712,452). These loans are interest free and repayable on demand.
The Company has taken advantage of the exemption from the requirement to disclose transactions with wholly owned group companies.


Page 10