Dhand Investment Capital Limited Filleted accounts for Companies House (small and micro)

Dhand Investment Capital Limited Filleted accounts for Companies House (small and micro)

DHAND INVESTMENT CAPITAL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 12140437
DHAND INVESTMENT CAPITAL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 August 2022
DHAND INVESTMENT CAPITAL LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2022
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 4
DHAND INVESTMENT CAPITAL LIMITED
BALANCE SHEET
31 August 2022
2022
2021
Note
£
£
Fixed assets
Tangible assets
4
2,450,936
1,574,842
Investments
5
957,742
957,742
------------
------------
3,408,678
2,532,584
Current assets
Debtors
6
84,910
–
Cash at bank and in hand
34,191
54,602
------------
------------
119,101
54,602
Creditors: amounts falling due within one year
7
( 3,489,522)
( 2,541,444)
------------
------------
Net current liabilities
( 3,370,421)
( 2,486,842)
------------
------------
Total assets less current liabilities
38,257
45,742
------------
------------
Net assets
38,257
45,742
------------
------------
Capital and reserves
Called up share capital
8
2
2
Profit and loss account
38,255
45,740
------------
------------
Shareholders funds
38,257
45,742
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 August 2023 , and are signed on behalf of the board by:
Mr R Dhand
Director
Company registration number: 12140437
DHAND INVESTMENT CAPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, West Yorkhire, HD1 1PA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
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 entity after deducting all of its financial liabilities.
4. Tangible assets
Freehold investment property
£
Cost
At 1 September 2021
1,574,842
Additions
876,094
------------
At 31 August 2022
2,450,936
------------
Depreciation
At 1 September 2021 and 31 August 2022
–
------------
Carrying amount
At 31 August 2022
2,450,936
------------
At 31 August 2021
1,574,842
------------
5. Investments
Shares in unlisted company
Loans to unlisted company
Other investments
Total
£
£
£
£
Cost
At 1 September 2021 and 31 August 2022
50
887,692
70,000
957,742
------------
------------
------------
------------
Impairment
At 1 September 2021 and 31 August 2022
–
–
–
–
------------
------------
------------
------------
Carrying amount
At 31 August 2022
50
887,692
70,000
957,742
------------
------------
------------
------------
At 31 August 2021
50
887,692
70,000
957,742
------------
------------
------------
------------
6. Debtors
2022
2021
£
£
Prepayments and accrued income
3,000
–
Other debtors
81,910
–
------------
------------
84,910
–
------------
------------
7. Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
37,493
47,193
Amounts owed to related undertakings
600,000
–
Accruals and deferred income
2,250
76,883
Corporation tax
–
1,559
Directors loan account
2,849,779
2,415,809
------------
------------
3,489,522
2,541,444
------------
------------
8. Called up share capital
Issued, called up and fully paid
2022
2021
No.
£
No.
£
Ordinary shares of £ 0.02 each
100
2
100
2
------------
------------
------------
------------
Shares issued and fully paid
2022
2021
No.
£
No.
£
Ordinary shares of £ 0.02 each
100
2
100
2
------------
------------
------------
------------
Shares issued and partly paid
2022
2021
No.
£
No.
£
9. Related party transactions
Included in creditors is the directors' loan account of £2,849,779 (2021: £2,415,809) which is unsecured, repayable on demand and currently interest free. The amounts owed to related undertakings included in creditors above comprise a loan from Medichem (Leeds) Limited of £600,000. The loan is unsecured, repayable on demand and currently interest free. This company is under common control.
10. Controlling party
The company is controlled by R Dhand.