Company registration number 14706683 (England and Wales)
DS2 Holdings Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 August 2024
PAGES FOR FILING WITH REGISTRAR
DS2 Holdings Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
DS2 Holdings Limited
Statement of financial position
as at 31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
400,000
Investments
4
100
400,100
Current assets
Cash at bank and in hand
13,646
100
Creditors: amounts falling due within one year
5
(115,223)
Net current (liabilities)/assets
(101,577)
100
Total assets less current liabilities
298,523
100
Creditors: amounts falling due after more than one year
6
(144,502)
Net assets
154,021
100
Capital and reserves
Called up share capital
100
100
Revaluation reserve
117,117
Profit and loss reserves
36,804
Total equity
154,021
100
DS2 Holdings Limited
Statement of financial position (continued)
as at 31 August 2024
- 2 -
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 19 May 2025 and are signed on its behalf by:
D Smith
Director
Company registration number 14706683 (England and Wales)
DS2 Holdings Limited
Notes to the financial statements
for the year ended 31 August 2024
- 3 -
1
Accounting policies
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.
Turnover
Turnover represents the total invoice value of rent receivable and other income derived from the provision of services falling within the company's ordinary activities. Turnover is recognised on an accruals basis.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No Depreciation
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
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.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
DS2 Holdings Limited
Notes to the financial statements (continued)
for the year ended 31 August 2024
1
Accounting policies
(continued)
- 4 -
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
DS2 Holdings Limited
Notes to the financial statements (continued)
for the year ended 31 August 2024
- 5 -
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 September 2023
Additions
400,000
At 31 August 2024
400,000
Depreciation and impairment
At 1 September 2023 and 31 August 2024
Carrying amount
At 31 August 2024
400,000
At 31 August 2023
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 September 2023
-
Additions
100
At 31 August 2024
100
Carrying amount
At 31 August 2024
100
At 31 August 2023
-
DS2 Holdings Limited
Notes to the financial statements (continued)
for the year ended 31 August 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
11,454
Amounts owed to group undertakings
100,000
Corporation tax
2,869
Accruals and deferred income
900
115,223
The bank loan is secured upon the property to which it relates.
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
144,502
The bank loan is secured upon the property to which it relates.
7
Company information
DS2 Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.