D. H. J Foot Holdings Limited - Period Ending 2021-03-31
D. H. J Foot Holdings Limited - Period Ending 2021-03-31
Registration number:
D. H. J Foot Holdings Limited
for the Period from 2 October 2019 to 31 March 2021
D. H. J Foot Holdings Limited
Contents
Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
D. H. J Foot Holdings Limited
(Registration number: 12239141)
Abridged Balance Sheet as at 31 March 2021
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2021 |
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£ |
£ |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
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Accruals and deferred income |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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D. H. J Foot Holdings Limited
(Registration number: 12239141)
Abridged Balance Sheet as at 31 March 2021
For the financial period ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
Director
D. H. J Foot Holdings Limited
Notes to the Unaudited Abridged Financial Statements for the Period from 2 October 2019 to 31 March 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Nightingale Farm
Higher Halstock
Yeovil
Somerset
BA22 9QZ
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 abridged 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 abridged 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.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
D. H. J Foot Holdings Limited
Notes to the Unaudited Abridged Financial Statements for the Period from 2 October 2019 to 31 March 2021
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 income 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
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 |
Plant and machinery |
15% reducing balance |
Office equipment |
20% reducing balance |
Motor vehicles |
25% reducing balance |
D. H. J Foot Holdings Limited
Notes to the Unaudited Abridged Financial Statements for the Period from 2 October 2019 to 31 March 2021
Investment property
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade 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.
D. H. J Foot Holdings Limited
Notes to the Unaudited Abridged Financial Statements for the Period from 2 October 2019 to 31 March 2021
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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 creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
D. H. J Foot Holdings Limited
Notes to the Unaudited Abridged Financial Statements for the Period from 2 October 2019 to 31 March 2021
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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Additions |
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At 31 March 2021 |
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Depreciation |
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Charge for the period |
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At 31 March 2021 |
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Carrying amount |
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At 31 March 2021 |
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Investment properties
2021 |
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Additions |
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Disposals |
( |
Fair value adjustments |
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At 31 March |
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The fair value of investment property was determined by external, independent property valuers, having appropriate recognised professional qualifications and recent experience in the location and category of the properties being valued. Fair value adjustments have been recognised in the profit and loss account.
D. H. J Foot Holdings Limited
Notes to the Unaudited Abridged Financial Statements for the Period from 2 October 2019 to 31 March 2021
Investments |
Total |
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Cost or valuation |
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Revaluation |
( |
Additions |
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Disposals |
( |
At 31 March 2021 |
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Carrying amount |
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At 31 March 2021 |
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Share capital |
Allotted, called up and fully paid shares
2021 |
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No. |
£ |
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Ordinary shares of £0.01 each |
2,937 |
29.37 |
Ordinary B shares of £1 each |
2,672,000 |
2,672,000 |
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Related party transactions |
Other transactions with directors |
During the period the company acquired investment property from its directors at a total cost of £282,321. The cost of these investment properties has been credited to the relevant directors' loan accounts and the balance due remains outstanding at the balance sheet date.
D. H. J Foot Holdings Limited
Notes to the Unaudited Abridged Financial Statements for the Period from 2 October 2019 to 31 March 2021
Summary of transactions with all subsidiaries
On 17 December 2019, D H J Foot Holdings Limited acquired 100% of the Ordinary share capital of D H J Foot Limited by way of a share for share exchange. The acquisition of D H J Foot Limited was recognised in these accounts as an investment at market value.
On 14 April 2020, D H J Foot Limited transferred the majority of it's property interests to D H J Foot Holdings Limited by way of a dividend in specie. Certain of these properties were transferred to D H J Foot Holdings Limited's newly created subsidiary companies, T M Foot Limited and E R Foot Limited. The dividend in specie of properties received by D H J Foot Holdings Limited totalled £1,278,347, with T M Foot Limited receiving £1,451,874 and E R Foot Limited receiving £1,391,939. At this point, D H J Foot Holdings Limited's investment in D H J Foot Limited was impaired and its investments in T M Foot Limited and E R Foot Limited revalued, to reflect the transfer of property around the group. All changes in values have been reflected through the profit and loss account.
On 24 April 2020, D H J Foot Holdings Limited disposed of its investments in D H J Foot Limited, T M Foot Limited and E R Foot Limited to D H J Foot Holdings 2 Limited, T M Foot Holdings Limited and E R Foot Holdings Limited, respectively, by way of a capital reduction demerger.
Non adjusting events after the financial period |
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