Company registration number 15089247 (England and Wales)
DN & KD HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
DN & KD HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investments
3
6,000,000
Current assets
Debtors
4
2
Creditors: amounts falling due within one year
5
(697,490)
Net current liabilities
(697,488)
Total assets less current liabilities
5,302,512
Creditors: amounts falling due after more than one year
6
(4,465,297)
Net assets
837,215
Capital and reserves
Called up share capital
7
60,002
Profit and loss reserves
777,213
Total equity
837,215

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

For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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 17 February 2025 and are signed on its behalf by:
K  Davies
Director
Company registration number 15089247 (England and Wales)
DN & KD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

DN & KD Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/o Mazars LLP, The Pinnacle, 160 Midsummer Boulevard, Milton Keynes, MK9 1FF.

The principal trading activity is that of a holding company.

 

1.1
Reporting period

The financial statements are prepared for a period shorter than one year as the company was incorporated on 22 August 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

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.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

DN & KD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
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.

 

Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
2
3
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
6,000,000
DN & KD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 22 August 2023
-
Additions
6,000,000
At 31 March 2024
6,000,000
Carrying amount
At 31 March 2024
6,000,000
4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
2
5
Creditors: amounts falling due within one year
2024
£
Bank loans
333,333
Amounts owed to group undertakings
160,857
Other creditors
200,000
Accruals and deferred income
3,300
697,490

Other creditors relates to deferred consideration which is secured by way of a debenture.

 

Bank loans relate to a facility agreement which is secured by way of a debenture and a personal guarantee from the directors to a value capped at £70,000 plus interest, costs and expenses.

6
Creditors: amounts falling due after more than one year
2024
Notes
£
Bank loans
1,666,667
Share premium treated as debt
1,940,000
Preference dividends payable
58,630
Other creditors
800,000
4,465,297
DN & KD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
6
Creditors: amounts falling due after more than one year
(Continued)
- 5 -

See note 6 for security details.

 

The share capital treated as debt relates to the preference shares issued at a premium. These shares have priority over other shares on winding up and are entitled to a fixed 5% annual cumulative preferential dividend.

7
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
A Ordinary of £1 each
60,000
60,000
B Ordinary of £1 each
2
2
60,002
60,002
2024
2024
Preference share capital
Number
£
Issued and fully paid
Preference of £1 each
2,000,000
2,000,000
Preference shares classified as liabilities
2,000,000

On 22 August 2023, 2 A Ordinary £1 shares were issued at par for cash.

 

On 30 August 2023, a further 59,998 A Ordinary £1 shares and 2 B Ordinary £1 shares were issued for a non-cash consideration. The shares allotted were in consideration for the transfer of 6,000,000 B Ordinary shares in R & R Engineering 23 Limited in accordance with a share purchase agreement dated 30 August 2023.

 

On 30 August 2023, 2,000,000 Preference £1 shares were issued at par for cash.

 

The details of the rights of the shares can be found at Companies House.

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