DK Motorcycles Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08559379 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

DK Motorcycles Holdings Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

K D Neesam

D J Neesam

REGISTERED OFFICE:

Swift House

Liverpool Road

Newcastle

Staffordshire

ST5 9JJ

REGISTERED NUMBER:

08559379 (England and Wales)

FIXED ASSETS

Tangible assets

4

2,347,009

2,363,387

Investments

5

100

100

2,347,109

2,363,487

CURRENT ASSETS

Debtors

6

1,236,084

2,257,824

Cash at bank

981,105

99,587

2,217,189

2,357,411

CREDITORS

Amounts falling due within one year

7

68,601

57,573

NET CURRENT ASSETS

2,148,588

2,299,838

TOTAL ASSETS LESS CURRENT LIABILITIES

4,495,697

4,663,325

CREDITORS

Amounts falling due after more than one year

8

914,611

951,125

NET ASSETS

3,581,086

3,712,200

CAPITAL AND RESERVES

Called up share capital

3,003,700

3,003,700

Retained earnings

577,386

708,500

SHAREHOLDERS' FUNDS

3,581,086

3,712,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 December 2021 and were signed on its behalf by:

K D Neesam - Director

1.	STATUTORY INFORMATION

DK Motorcycles Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements cover the company as an individual entity and are presented in Pounds Sterling (£) being the functional currency.

The financial statements have been prepared on a going concern basis on the assumption that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have made this assessment with regard to the company's current and expected performance.

Particular consideration has been given to the impact of the Coronavirus on the company's ability to operate for the foreseeable future. In arriving at this assessment of the going concern status of the company the directors have made key judgements about the returning level of demand for the services provided by the company.

Preparation of consolidated financial statements

The financial statements contain information about DK Motorcycles Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' section 1AC.35, not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Investments in non-convertible preference shares and non-puttable ordinary and preference shares are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less accumulated impairment.

Taxation

Taxation for the year comprises current and deferred tax, if applicable. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 April 2020

and 31 March 2021

2,379,764

DEPRECIATION

At 1 April 2020

16,377

Charge for year

16,378

At 31 March 2021

32,755

NET BOOK VALUE

At 31 March 2021

2,347,009

At 31 March 2020

2,363,387

Included in freehold property is land with a value of £1,560,901 which is not depreciated.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2020

and 31 March 2021

100

NET BOOK VALUE

At 31 March 2021

100

At 31 March 2020

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

1,400

110

Amounts owed by group undertakings

924,020

1,883,685

Other debtors

310,664

374,029

1,236,084

2,257,824

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

67,333

34,740

Taxation and social security

1,268

9

Other creditors

-

22,824

68,601

57,573

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

914,611

951,125

9.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

981,944

985,865

The bank loans contain a fixed charge, floating charge, negative pledge.

The floating charge covers all the property or undertaking of the company.