Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28No description of principal activity1falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrue2022-03-011false 12474683 2022-03-01 2023-02-28 12474683 2021-03-01 2022-02-28 12474683 2023-02-28 12474683 2022-02-28 12474683 c:Director1 2022-03-01 2023-02-28 12474683 d:CurrentFinancialInstruments 2023-02-28 12474683 d:CurrentFinancialInstruments 2022-02-28 12474683 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 12474683 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 12474683 d:ShareCapital 2023-02-28 12474683 d:ShareCapital 2022-02-28 12474683 d:RetainedEarningsAccumulatedLosses 2023-02-28 12474683 d:RetainedEarningsAccumulatedLosses 2022-02-28 12474683 c:FRS102 2022-03-01 2023-02-28 12474683 c:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 12474683 c:FullAccounts 2022-03-01 2023-02-28 12474683 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 12474683 2 2022-03-01 2023-02-28 12474683 6 2022-03-01 2023-02-28 12474683 e:PoundSterling 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 12474683










DG VENTURES HOLDINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
DG VENTURES HOLDINGS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DG VENTURES 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 financial statements of DG Ventures Holdings Limited for the year ended 28 February 2023 which comprise  the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of DG Ventures Holdings Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of DG Ventures Holdings Limited  and state those matters that we have agreed to state to the director of DG Ventures Holdings Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DG Ventures Holdings Limited and its director for our work or for this report. 

It is your duty to ensure that DG Ventures Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of DG Ventures Holdings Limited. You consider that DG Ventures Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of DG Ventures 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 financial statements.

  



Haysmacintyre LLP
10 Queen Street Place
London
EC4R 1AG
28 March 2024
Page 1

 
DG VENTURES HOLDINGS LIMITED
REGISTERED NUMBER: 12474683

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
42,066,330
172

  
42,066,330
172

Current assets
  

Debtors: amounts falling due within one year
 5 
17,525,705
1

Cash at bank and in hand
 6 
3,817,790
-

  
21,343,495
1

Creditors: amounts falling due within one year
 7 
(337,780)
(1,474)

Net current assets/(liabilities)
  
 
 
21,005,715
 
 
(1,473)

Total assets less current liabilities
  
63,072,045
(1,301)

  

Net assets/(liabilities)
  
63,072,045
(1,301)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
63,071,945
(1,401)

  
63,072,045
(1,301)


Page 2

 
DG VENTURES HOLDINGS LIMITED
REGISTERED NUMBER: 12474683
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 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 his 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 comprehensive income 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 on 28 March 2024.




M. Strasser
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
DG VENTURES HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

DG Ventures Holdings Limited is a private company limited by shares, registered in England and Wales, registration number 12474683. The registered office is Level 3 Bank Street, London, E14 5NR.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

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.

 
2.4

Interest income

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

Page 4

 
DG VENTURES HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Taxation

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 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 income.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

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.

 
2.10

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.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 5

 
DG VENTURES HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 March 2022
172


Additions
42,066,231


Disposals
(73)



At 28 February 2023
42,066,330





5.


Debtors

2023
2022
£
£


Amounts owed by joint ventures and associated undertakings
147,488
-

Other debtors
17,378,216
-

Called up share capital not paid
1
1

17,525,705
1


Page 6

 
DG VENTURES HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,817,790
-



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
-
1,474

Corporation tax
337,707
-

Other creditors
73
-

337,780
1,474



8.


Related party transactions

During the year, the company advanced loans to companies connected by virtue of having a director in common. As at the year end £16,664,095 (2022: £nil) was due from those entities.
 

Page 7