Company registration number 11190642 (England and Wales)
D.S INVESTMENT HOLDINGS LTD.
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
D.S INVESTMENT HOLDINGS LTD.
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
D.S INVESTMENT HOLDINGS LTD.
COMPANY INFORMATION
Directors
Mr SJ Patel
Mr D Rabadia
Company number
11190642
Registered office
Elthorne Gate
64 High Street
Pinner
Middlesex
HA5 5QA
Accountants
Aequitas Accountants Ltd
Elthorne Gate
64 High Street
Pinner
Middlesex
HA5 5QA
D.S INVESTMENT HOLDINGS LTD.
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
289,188
289,188
Current assets
Cash at bank and in hand
61,379
66,621
Creditors: amounts falling due within one year
4
(146,280)
(139,092)
Net current liabilities
(84,901)
(72,471)
Total assets less current liabilities
204,287
216,717
Creditors: amounts falling due after more than one year
5
(216,417)
(224,246)
Net liabilities
(12,130)
(7,529)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(12,132)
(7,531)
Total equity
(12,130)
(7,529)
For the financial year ended 30 June 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 members have 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 13 February 2024 and are signed on its behalf by:
Mr SJ Patel
Director
Company registration number 11190642 (England and Wales)
D.S INVESTMENT HOLDINGS LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information
D.S Investment Holdings Ltd. is a private company limited by shares incorporated in England and Wales. The registered office is Elthorne Gate, 64 High Street, Pinner, Middlesex, HA5 5QA.
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. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.
The company has net current liabilities of £84,901 (2022 : £72,471) and net liabilities of £12,130 (2022 : 7,529) as at balance sheet date.
However, most of the funding for the company is by way of a directors loan. The directors has confirmed that he will not seek the repayment of this outstanding loan balance of £137,154 at least for 12 month from the date of approval of this financial statement. The directors continue to adopt going concern basis in preparing the financial statements.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is provided at the following annual rates in order to write off each asset over its
estimated useful life.
Freehold Property
No depreciation charge
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
D.S INVESTMENT HOLDINGS LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 3 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 July 2022 and 30 June 2023
289,188
Depreciation and impairment
At 1 July 2022 and 30 June 2023
Carrying amount
At 30 June 2023
289,188
At 30 June 2022
289,188
The company's freehold property was revalued by directors as of June 2023, which was considered the same as the cost.
D.S INVESTMENT HOLDINGS LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
6
7,936
1,098
Other creditors
137,155
137,154
Accruals and deferred income
1,189
840
146,280
139,092
5
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
6
216,417
224,246
Amounts included above which fall due after five years are as follows:
Payable other than by instalments
223,255
224,246
6
Loans and overdrafts
2023
2022
£
£
Bank loans
224,353
225,344
Payable within one year
7,936
1,098
Payable after one year
216,417
224,246
The bank loans are secured by a fixed and floating charge over the assets of the Company.