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COMPANY REGISTRATION NUMBER: 06332684
Dgicol Trading Limited
Filleted Unaudited Financial Statements
31 December 2023
Dgicol Trading Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
Current assets
Debtors
5
25,498
17,998
Investments
6
15,946,963
14,546,613
Cash at bank and in hand
21,866
352,822
-------------
-------------
15,994,327
14,917,433
Creditors: amounts falling due within one year
7
1,413,562
1,212,769
-------------
-------------
Net current assets
14,580,765
13,704,664
-------------
-------------
Total assets less current liabilities
14,580,765
13,704,664
Creditors: amounts falling due after more than one year
8
14,457,795
14,457,795
-------------
-------------
Net assets/(liabilities)
122,970
( 753,131)
-------------
-------------
Capital and reserves
Called up share capital
100,000
100,000
Profit and loss account
22,970
( 853,131)
---------
---------
Shareholders funds/(deficit)
122,970
( 753,131)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dgicol Trading Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 10 September 2024 , and are signed on behalf of the board by:
Mr F Chevalley
Director
Company registration number: 06332684
Dgicol Trading Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Milner House, 14 Manchester Square, London, W1U 3PP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements are prepared in euros, which is the functional currency of the entity.
Revenue recognition
The stated value of the portfolio contains unrealised gains. For the sake of clarity, all interest on bonds, all dividends and gains/losses on portfolio sales are reflected in the profit and loss. The profit and loss however does also account for unrealised profits and losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives if any, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5. Debtors
2023
2022
Accrued interest
25,498
17,998
--------
--------
6. Investments
2023
2022
Securities held for sale
15,946,963
14,546,613
-------------
-------------
7. Creditors: amounts falling due within one year
2023
2022
Other creditors
1,413,562
1,212,769
------------
------------
8. Creditors: amounts falling due after more than one year
2023
2022
Shareholder loan account
14,457,795
14,457,795
-------------
-------------