Dimon Investments Limited NI022422 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of investing in shares in UK and worldwide markets Digita Accounts Production Advanced 6.30.9574.0 true true NI022422 2023-04-01 2024-03-31 NI022422 2024-03-31 NI022422 bus:OrdinaryShareClass1 2024-03-31 NI022422 core:RetainedEarningsAccumulatedLosses 2024-03-31 NI022422 core:ShareCapital 2024-03-31 NI022422 core:CurrentFinancialInstruments 2024-03-31 NI022422 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 NI022422 core:Non-currentFinancialInstruments 2024-03-31 NI022422 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 NI022422 bus:SmallEntities 2023-04-01 2024-03-31 NI022422 bus:Audited 2023-04-01 2024-03-31 NI022422 bus:FilletedAccounts 2023-04-01 2024-03-31 NI022422 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI022422 bus:RegisteredOffice 2023-04-01 2024-03-31 NI022422 bus:Director1 2023-04-01 2024-03-31 NI022422 bus:Director2 2023-04-01 2024-03-31 NI022422 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 NI022422 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI022422 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 NI022422 core:ShareCapital 2023-04-01 2024-03-31 NI022422 countries:NorthernIreland 2023-04-01 2024-03-31 NI022422 2023-03-31 NI022422 core:RetainedEarningsAccumulatedLosses 2023-03-31 NI022422 core:ShareCapital 2023-03-31 NI022422 2022-04-01 2023-03-31 NI022422 2023-03-31 NI022422 bus:OrdinaryShareClass1 2023-03-31 NI022422 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 NI022422 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-03-31 NI022422 core:CurrentFinancialInstruments core:PreviouslyStatedAmount 2023-03-31 NI022422 core:Non-currentFinancialInstruments core:AfterOneYear core:PreviouslyStatedAmount 2023-03-31 NI022422 core:Non-currentFinancialInstruments core:PreviouslyStatedAmount 2023-03-31 NI022422 core:PreviouslyStatedAmount 2023-03-31 NI022422 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 NI022422 core:ShareCapital 2022-04-01 2023-03-31 NI022422 core:PreviouslyStatedAmount 2022-04-01 2023-03-31 NI022422 2022-03-31 NI022422 core:RetainedEarningsAccumulatedLosses 2022-03-31 NI022422 core:ShareCapital 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI022422

Dimon Investments Limited

Filleted Financial Statements

for the Year Ended 31 March 2024

 

Dimon Investments Limited

(Registration number: NI022422)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

876,059

11,697,082

Current assets

 

Debtors

5

2

2

Creditors: due within one year

6

(19,485)

(19,842)

Net current liabilities

 

(19,483)

(19,840)

Total assets less current liabilities

 

856,576

11,677,242

Creditors : due after more than one year

7

(800)

(6,676,659)

Provisions for liabilities

(33,364)

(470,106)

Net assets

 

822,412

4,530,477

Capital and reserves

 

Called up share capital

8

2

2

Profit and loss account

9

822,410

4,530,475

Total equity

 

822,412

4,530,477

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 June 2024 and signed on its behalf by:
 

............................................
Mr EA Lonergan
Director

............................................
Mr RJ Faloon
Director

 
     
 

Dimon Investments Limited

Statement of Comprehensive Income for the Year Ended 31 March 2024

2024
£

2023
£

Profit/(loss) for the year

41,935

(472,810)

Total comprehensive income for the year

41,935

(472,810)


Statement of Changes in Equity for the Year Ended 31 March 2024
 

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

2

4,530,475

4,530,477

Profit for the year

-

41,935

41,935

Dividends

-

(3,750,000)

(3,750,000)

At 31 March 2024

2

822,410

822,412

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

2

5,003,285

5,003,287

Loss for the year

-

(472,810)

(472,810)

At 31 March 2023

2

4,530,475

4,530,477

 

Dimon Investments Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is: 4 Annadale Avenue, Belfast, Co. Antrim, BT7 3JH.

These financial statements were authorised for issue by the Board on 20 June 2024.

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. The functional and presentation currency is sterling.

Going concern

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

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 20 June 2024 was Peter Stevenson, who signed for and on behalf of Stevenson and Wilson.

Foreign currency transactions and balances

Transactions in foreign currencies are translated using the spot rate at the date of the transaction. At the end of the reporting period, monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the balance sheet date. Non-monetary items measured on an historical costs basis are translated using the exchange rate at the transaction date.

Exchange gains and losses arising on the settlement of monetary items are recognised through the Profit and Loss Account in the period in which they arise.

Investments

The Company’s investment in shares in the UK and worldwide markets have been included in the balance sheet at market value, based on external professional valuations.

 

Dimon Investments Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

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 accounted for on all differences arising from the inclusion of items of revaluation in taxation computations in periods different from those in which they are included in the financial statements.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 directors) during the year, was 2 (2023 - 2).

 

Dimon Investments Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

4

Investments

2024
£

2023
£

Opening balance at 1st April 2023

11,697,082

11,936,555

Additions

1,199,006

2,666,599

Disposals

(9,903,311)

(2,074,245)

Movement in revaluation for shares held in portfolio

(32,613)

(318,429)

Movement in revaluation for shares sold during the year

6,696

(239,497)

Movement in cash funds

(349,373)

(273,901)

Valuation at 31st March 2024

2,617,487

11,697,082

Out of balance to Investments category

1,741,428

-

The company’s investment in shares in the UK and worldwide markets have been included in the balance sheet at market value, based on external professional valuations. Provision for deferred tax has been made in respect of the unrealised revaluation gains. At 31st March 2024 this provision amounted to £33,364 (2023: £470,106).

5

Debtors

Current

2024
£

2023
£

Other debtors

2

2

 

2

2

6

Creditors: due within one year

2024
£

2023
£

Due to parent company

13,105

-

Accruals

6,380

19,842

19,485

19,842

 

Dimon Investments Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

7

Creditors: due after more than one year

2024
£

2023
£

Due to parent company

-

6,675,859

Director's current account

800

800

800

6,676,659

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

9

Profit and loss account reserves

2024
 £

2023
 £

Distributable reserve

679,882

3,057,344

Non-distributable reserve

142,528

1,473,131

822,410

4,530,475

10

Ultimate controlling party

The Company’s ultimate controlling party is Mr. E.A. Lonergan.