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Registered number: 15119366
DS Group Service Limited
Financial Statements
For the Period 6 September 2023 to 31 December 2023
Goodwille Limited
Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 15119366
31 December 2023
Notes £ £
CURRENT ASSETS
Debtors 4 14,777
Cash at bank and in hand 36,000
50,777
Creditors: Amounts Falling Due Within One Year 5 (50,096 )
NET CURRENT ASSETS (LIABILITIES) 681
TOTAL ASSETS LESS CURRENT LIABILITIES 681
NET ASSETS 681
CAPITAL AND RESERVES
Called up share capital 6 1
Profit and Loss Account 680
SHAREHOLDERS' FUNDS 681
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ka Wai Wan
Director
02/08/2024
The notes on pages 2 to 4 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
DS Group Service Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15119366 . The address of the registered office is 1 Chapel Street, Warwick, CV34 4HL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The director has considered the company’s financial position, liquidity and future performance together with financial projections for the company and over the foreseeable future and has also reviewed the ongoing committed financial support from the company's parent undertaking and are confident this will be available for the forseeable future. After making enquiries, the director is satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, the director continues to adopt the going concern basis in preparing the company’s financial statements.
2.3. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates, and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.
2.4. Turnover
Turnover represents the value of services provided to its group undertakings, net of value added tax. Revenue is recognised when the company has a contractual right to receive revenue for work undertaken.
2.5. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors and creditors, loans to and from related parties and investments in non-puttable ordinary shares.
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 profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
2.8. Debtors
Basic financial assets, including trade and other debtors, are intially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
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2.9. Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
2.10. Creditors
Basic financial liabilities, including trade and other creditors, loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
2.11. Share Capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
2.12. Disclosure of long or short period
The company was incorporated on 6 September 2023. The company’s year-end date is 31 December 2023. These financial statements are therefore for the short period from 6 September 2023 to 31 December 2023. There are no comparatives as this is the first period of accounts.
3. Average Number of Employees
Average number of employees, including director, during the period was: NIL
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4. Debtors
31 December 2023
£
Due within one year
Prepayments 1,508
VAT 1,204
Amounts owed by group undertakings 12,065
14,777
5. Creditors: Amounts Falling Due Within One Year
31 December 2023
£
Trade creditors 2,773
Corporation tax 213
Accruals 6,200
Amounts owed to parent undertaking 40,910
50,096
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6. Share Capital
31 December 2023
£
Allotted, Called up and fully paid 1
7. Dividends
No dividends were proposed or paid during the period. 
8. Related Party Transactions
During the period there were related party transactions entered into between the Company and Dah Sing Bank, Limited, which is not a wholly-owned subsidiary of the group to which the company belongs. These transactions were concluded under normal market conditions. The company has opted under paragraph 1AC.35 of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” not to disclose these transactions.
9. Ultimate Controlling Party
The company's ultimate controlling party is Dah Sing Financial Holdings Limited by virtue of its ownership of 100% of the issued share capital in the company.
10. Audit Information
The auditors report on the account of DS Group Service Limited for the period ended 31 December 2023 was unqualified
The auditor's report was signed by Caroline Peverett BA FCA (Senior Statutory Auditor) for and on behalf of Tuerner Audit Limited , Statutory Auditor
Tuerner Audit Limited
Bridge House
Old Grantham Road
Whatton
Nottingham
NG13 9FG
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