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Registration number: 08697958

Tim Dawson (Holdings) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Tim Dawson (Holdings) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Tim Dawson (Holdings) Limited

Company Information

Director

T J Dawson

Registered office

1 Church Terrace
Yeovil
Somerset
BA20 1HX

Accountants

Gilbie Roberts Limited
Chartered Certified Accountants
1 Church Terrace
Yeovil
Somerset
BA20 1HX

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Tim Dawson (Holdings) Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tim Dawson (Holdings) Limited for the year ended 31 December 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Tim Dawson (Holdings) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Tim Dawson (Holdings) Limited and state those matters that we have agreed to state to the Board of Directors of Tim Dawson (Holdings) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tim Dawson (Holdings) Limited and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of Tim Dawson (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 accounts.

......................................

Gilbie Roberts Limited
Chartered Certified Accountants
1 Church Terrace
Yeovil
Somerset
BA20 1HX

10 September 2024

 

Tim Dawson (Holdings) Limited

(Registration number: 08697958)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,591,901

-

Investment property

5

323,144

-

Investments

6

100

100

 

3,915,145

100

Current assets

 

Debtors

8

1,700,000

500,000

Other financial assets

7

10,563,200

7,716,080

Cash at bank and in hand

 

2,763,623

6,304,223

 

15,026,823

14,520,303

Creditors: Amounts falling due within one year

9

(32,591)

(116,463)

Net current assets

 

14,994,232

14,403,840

Total assets less current liabilities

 

18,909,377

14,403,940

Provisions for liabilities

(133,071)

-

Net assets

 

18,776,306

14,403,940

Capital and reserves

 

Called up share capital

10

100

100

Revaluation reserve

773,985

-

Retained earnings

18,002,221

14,403,840

Shareholders' funds

 

18,776,306

14,403,940

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 September 2024
 

 

Tim Dawson (Holdings) Limited

(Registration number: 08697958)
Balance Sheet as at 31 December 2023

.........................................
T J Dawson
Director

 

Tim Dawson (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 Church Terrace
Yeovil
Somerset
BA20 1HX

The principal place of business is:
Aviation House
Eastgate Court
Frome
BA11 1QD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Revenue represents income from current asset investments.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

 

Tim Dawson (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Tim Dawson (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

Additions

3,591,901

3,591,901

At 31 December 2023

3,591,901

3,591,901

Depreciation

Carrying amount

At 31 December 2023

3,591,901

3,591,901

Included within the net book value of land and buildings above is £3,591,901 (2022 - £Nil) in respect of freehold land and buildings.
 

5

Investment properties

2023
£

Additions

323,144

At 31 December

323,144

There has been no valuation of investment property by an independent valuer.

 

Tim Dawson (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Investments

2023
£

2022
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 January 2023

100

Provision

Carrying amount

At 31 December 2023

100

At 31 December 2022

100

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Divelements Limited

Aviation House
Eastgate Court
Frome
Somerset
BA11 1QD

England

Ordinary

100%

100%

Subsidiary undertakings

Divelements Limited

The principal activity of Divelements Limited is software development.

 

Tim Dawson (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

At 1 January 2023

7,716,080

7,716,080

Fair value adjustments

773,984

773,984

Additions

2,073,136

2,073,136

At 31 December 2023

10,563,200

10,563,200

Impairment

Carrying amount

At 31 December 2023

10,563,200

10,563,200

8

Debtors

Current

2023
£

2022
£

Other debtors

1,700,000

500,000

 

1,700,000

500,000

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

32,591

116,463

10

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Tim Dawson (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

11

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

773,985

773,985

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

(933,708)

(933,708)

deferred tax provided in full

12

Financial instruments

Categorisation of financial instruments

2023
 £

2022
 £

Financial assets measured at fair value through profit or loss

10,563,200

7,716,080

Financial assets measured at fair value

Stock market portfolio


The fair value is £10,563,200 (2022 - £7,716,080) and the change in value included in profit or loss is £773,984 (2022 - £336,886).