Company registration number 02221747 (England and Wales)
D R S ASSETS LIMITED
(FORMERLY D R S SHOES LIMITED)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
D R S ASSETS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
D R S ASSETS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
228,488
250,457
Cash at bank and in hand
85,456
68,519
313,944
318,976
Creditors: amounts falling due within one year
(2,400)
(3,558)
Net current assets
311,544
315,418
Capital and reserves
Called up share capital
300,000
300,000
Profit and loss reserves
11,544
15,418
Total equity
311,544
315,418

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 8 May 2025 and are signed on its behalf by:
Mr C D Gorrod
Director
Company Registration No. 02221747
D R S ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

D R S Assets Limited is a private company limited by shares incorporated in England and Wales. The registered office is 36 Compass Point, Market Harborough, Leicestershire, United Kingdom, LE16 9HW.

1.1
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.

1.2
Going concern

The directors have considered ongoing cash flow requirements and available resources for a period of at least 12 months from the date of signing these financial statements and are of the view that the company has sufficient resources available to continue in operational existence for the foreseeable future. As such the financial statements have been prepared on the going concern basis.true

1.3
Financial instruments

The company only has financial instrurments that are classified as basic 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.

Basic financial assets

Basic financial assets, which include amounts due from group undertakings and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method less impairment.

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

D R S ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

There are no judgments or key sources of estimation uncertainty.

3
Employees

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

2024
2023
Number
Number
Directors
3
3

The Directors are all employed by other companies in the Rieker group. No employee expenses have been borne in D R S Assets Limited.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
225,668
249,139
Other debtors
2,820
1,318
228,488
250,457

Amounts owed by group undertakings are unsecured, bear no interest and are repayable on demand.

D R S ASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
5
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.

Senior Statutory Auditor:
Matthew Woodhead BSc FCA
Statutory Auditor:
Azets Audit Services
6
Events after the reporting date

On 17 April 2025, the Company acquired a freehold property for £18.6 million, funded entirely by an intercompany loan bearing interest at a market rate. As the acquisition occurred after the reporting date, no adjustment has been made in these financial statements.

 

No other post-balance sheet events requiring disclosure or adjustment have occurred.

7
Parent company

The immediate parent undertaking is RIMO Holding A.G., a company incorporated in Switzerland and is the smallest and largest company for which consolidated accounts including D R S Assets Limited are prepared.

 

 

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