Dahabshiil Holdings Limited
Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 05011753 (England and Wales)
Dahabshiil Holdings Limited
Company Information
Directors
A.M.S. Duale
M S Diale
(Appointed 18 August 2023)
Secretary
Bird & Bird Company Secretaries Ltd
Company number
05011753
Registered office
12 New Fetter Lane
London
EC4A 1JP
Auditors
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Business address
85 Sidney Street
London
E1 2FN
Dahabshiil Holdings Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Dahabshiil Holdings Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
1,445,000
1,445,000
Net assets
1,445,000
1,445,000
Capital and reserves
Called up share capital
5
1,445,000
1,445,000
Total equity
1,445,000
1,445,000

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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 6 September 2024 and are signed on its behalf by:
A.M.S. Duale
Director
Company Registration No. 05011753
Dahabshiil Holdings Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 2
1
Accounting policies
Company information

Dahabshiil Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 12 New Fetter Lane, London, EC4A 1JP and their business address is 85 Sidney Street, London, E1 2FN.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of 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 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.

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and a period of at least 12 months from the signing date of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities 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.

1.4
Financial instruments

All of the company's financial assets and liabilities are basic and measured at amortised cost.

1.5
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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2022: 0).

Dahabshiil Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 3
3
Fixed asset investments
2023
2022
£
£
Investments
1,445,000
1,445,000
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 January 2023 & 31 December 2023
1,445,000
Carrying amount
At 31 December 2023
1,445,000
At 31 December 2022
1,445,000
4
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Dahabshiil Transfer Services Limited
England and Wales
Ordinary
100.00
-
Dahabshiil Financial Transfers Inc
Canada
Ordinary
-
100.00
Dalmar AS
Norway
Ordinary
-
100.00
5
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1,445,000 Ordinary shares of £1 each
1,445,000
1,445,000

Ordinary shares hold voting rights, a right to dividends and a right to participate in distributions should the company be wound up.

6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Dahabshiil Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
6
Audit report information
(Continued)
Page 4
Senior Statutory Auditor:
Steven Rushmer
Statutory Auditor:
Moore Kingston Smith LLP
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