DBC Investments Limited 31/03/2021 iXBRL

DBC Investments Limited 31/03/2021 iXBRL

DBC INVESTMENTS LTD - Company Information

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Company registration number: 11284560
DBC Investments Limited
Unaudited filleted financial statements
31 March 2021
DBC Investments Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
DBC Investments Limited
Directors and other information
Directors Mr Santo Padalino
Mrs Angela Padalino
Company number 11284560
Registered office 1st Floor
87/89 High Street
Hoddesdon
Herts
EN11 8TL
DBC Investments Limited
Statement of financial position
31 March 2021
2021 2020
Note £ £ £ £
Fixed assets
Investments 4 50 50
_______ _______
50 50
Current assets
Debtors 5 20,600 20,000
Cash at bank and in hand 8,540 79,987
_______ _______
29,140 99,987
Creditors: amounts falling due
within one year 6 ( 31,650) ( 101,650)
_______ _______
Net current liabilities ( 2,510) ( 1,663)
_______ _______
Total assets less current liabilities ( 2,460) ( 1,613)
_______ _______
Net liabilities ( 2,460) ( 1,613)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 2,560) ( 1,713)
_______ _______
Shareholders deficit ( 2,460) ( 1,613)
_______ _______
For the year 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:
- 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 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 statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 April 2021 , and are signed on behalf of the board by:
Mr Santo Padalino
Director
Company registration number: 11284560
DBC Investments Limited
Statement of changes in equity
Year ended 31 March 2021
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2019 100 ( 740) ( 640)
Loss for the year ( 973) ( 973)
_______ _______ _______
Total comprehensive income for the year - ( 973) ( 973)
_______ _______ _______
At 31 March 2020 and 1 April 2020 100 ( 1,713) ( 1,613)
Loss for the year ( 847) ( 847)
_______ _______ _______
Total comprehensive income for the year - ( 847) ( 847)
_______ _______ _______
At 31 March 2021 100 ( 2,560) ( 2,460)
_______ _______ _______
DBC Investments Limited
Notes to the financial statements
Year ended 31 March 2021
1. General information
The company is a private company limited by shares, registered in UK. The address of the registered office is 1st Floor, 87/89 High Street, Hoddesdon, Herts, EN11 8TL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Fixed asset 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.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2020 and 31 March 2021 50 50
_______ _______
Impairment
At 1 April 2020 and 31 March 2021 - -
_______ _______
Carrying amount
At 31 March 2021 50 50
_______ _______
At 31 March 2020 50 50
_______ _______
5. Debtors
2021 2020
£ £
Other debtors 20,600 20,000
_______ _______
6. Creditors: amounts falling due within one year
2021 2020
£ £
Other creditors 31,650 101,650
_______ _______
7. Directors advances, credits and guarantees