Dince Hill (Holdings) Limited 01190361 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is export consultancy and trading in light armaments Digita Accounts Production Advanced 6.30.9574.0 true true true 01190361 2024-01-01 2024-12-31 01190361 2024-12-31 01190361 core:RetainedEarningsAccumulatedLosses 2024-12-31 01190361 core:ShareCapital 2024-12-31 01190361 core:CurrentFinancialInstruments 2024-12-31 01190361 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 01190361 core:FurnitureFittingsToolsEquipment 2024-12-31 01190361 bus:SmallEntities 2024-01-01 2024-12-31 01190361 bus:Audited 2024-01-01 2024-12-31 01190361 bus:FullAccounts 2024-01-01 2024-12-31 01190361 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 01190361 bus:RegisteredOffice 2024-01-01 2024-12-31 01190361 bus:Director8 2024-01-01 2024-12-31 01190361 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01190361 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 01190361 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-01-01 2024-12-31 01190361 1 2024-01-01 2024-12-31 01190361 countries:EnglandWales 2024-01-01 2024-12-31 01190361 2023-12-31 01190361 core:FurnitureFittingsToolsEquipment 2023-12-31 01190361 2023-01-01 2023-12-31 01190361 2023-12-31 01190361 core:RetainedEarningsAccumulatedLosses 2023-12-31 01190361 core:ShareCapital 2023-12-31 01190361 core:CurrentFinancialInstruments 2023-12-31 01190361 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 iso4217:GBP xbrli:pure

Company registration number: 01190361

Dince Hill (Holdings) Limited

Filleted Annual Report and Financial Statements

for the Year Ended 31 December 2024

 

Dince Hill (Holdings) Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

Dince Hill (Holdings) Limited

(Registration number: 01190361)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

55,438,619

64,770,253

Cash at bank and in hand

 

10,819,832

3,728,556

 

66,258,451

68,498,809

Creditors: Amounts falling due within one year

6

(59,536,443)

(68,228,288)

Net assets

 

6,722,008

270,521

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

6,721,008

269,521

Total equity

 

6,722,008

270,521

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.

Approved and authorised by the Board on 22 July 2025 and signed on its behalf by:
 


C Piscitelli
Director

   
 

Dince Hill (Holdings) Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Beech Road Business Park
Cadleigh
Ivybridge
Devon
PL21 9HN
England

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

These financial statements are presented in Sterling (£).

Going concern

The Directors have assessed the ongoing requirements of the company, considering expected future trading, cash and other funding available to the company, and are confident that it is appropriate to prepare the accounts on a going concern basis.

Turnover recognition

Turnover represents amounts receivable in respect of the sale of goods and services to customers, net of VAT and trade discounts.

Turnover is recognised on acceptance of the goods and services by the customer.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Dince Hill (Holdings) Limited

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 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 recognised on timing differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible assets

Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation of tangible assets

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Dince Hill (Holdings) Limited

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade and other creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Amounts owed to and from group undertakings

Amounts owed to and from group undertakings at the year end are initially measured at the transaction price. They are subsequently measured at amortised cost using the effective interest method. Receivable balances are reviewed periodically for impairment.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Defined contribution pension obligation

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 3 (2023 - 3).

 

Dince Hill (Holdings) Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

1,798

1,798

At 31 December 2024

1,798

1,798

Depreciation

At 1 January 2024

1,798

1,798

At 31 December 2024

1,798

1,798

Carrying amount

At 31 December 2024

-

-

5

Debtors

2024
 £

2023
 £

Trade debtors

-

42,401,688

Amounts owed by group undertakings and undertakings in which the company has a participating interest

6,545,371

398,344

Other debtors

48,893,248

21,970,221

55,438,619

64,770,253

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

17,378

882,273

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

497,885

Taxation and social security

4,124

3,617

Corporation tax

2,161,101

-

Other creditors and deferred income

57,353,840

66,844,513

59,536,443

68,228,288

 

Dince Hill (Holdings) Limited

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

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £44,250 (2023 - £66,375).

8

Related party transactions

Summary of transactions with entities with joint control or significant interest

The company has taken the exemption in Section 33.1A of FRS102 not to disclose transactions entered into between its fellow group members during the financial year. See note 10 for further information.
 

9

Parent and ultimate parent undertaking

The company's immediate parent is Effequattro Consilting S.r.l., incorporated in Italy.

 

10

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 25 July 2025 was Christopher Walford ACA, who signed for and on behalf of Albert Goodman LLP.