Dear (Holdings) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08619655 (England and Wales)

Dear (Holdings) Limited

Unaudited Financial Statements

for the Year Ended 30 June 2021

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

N R Dear

REGISTERED OFFICE:

7b Lancaster Park

Newborough Road

Needwood

Burton on Trent

Staffordshire

DE13 9PD

REGISTERED NUMBER:

08619655 (England and Wales)

ACCOUNTANTS:

Haines Watts

Sterling House

97 Lichfield Street

Tamworth

Staffordshire

B79 7QF

FIXED ASSETS

Investments

5

12,648,002

8,928,000

CURRENT ASSETS

Cash in hand

-

2

NET CURRENT ASSETS

-

2

TOTAL ASSETS LESS CURRENT LIABILITIES

12,648,002

8,928,002

CREDITORS

Amounts falling due after more than one year

6

1,962,999

1,962,999

NET ASSETS

10,685,003

6,965,003

CAPITAL AND RESERVES

Called up share capital

7

2

2

Share premium

8

649,999

649,999

Revaluation reserve

8

10,035,000

6,315,000

Capital redemption reserve

8

2

2

SHAREHOLDERS' FUNDS

10,685,003

6,965,003

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 March 2022 and were signed by:

N R Dear - Director

1.	STATUTORY INFORMATION

Dear (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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Dear (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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgement, estimates and assumptions about carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Investments in subsidiaries

Investment in subsidiary companies are recognised initially at cost. Subsequently they are measured at fair value through statement of comprehensive income, based upon the director's valuation.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4.	EMPLOYEES AND DIRECTORS

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

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST OR VALUATION

At 1 July 2020

8,928,000

Additions

2

Revaluations

3,720,000

At 30 June 2021

12,648,002

NET BOOK VALUE

At 30 June 2021

12,648,002

At 30 June 2020

8,928,000

Cost or valuation at 30 June 2021 is represented by:

Shares in

group

undertakings

£

Valuation in 2019

4,283,000

Valuation in 2020

2,032,000

Valuation in 2021

3,720,000

Cost

2,613,002

12,648,002

If fixed assets investments had not been revalued they would have been included at the following historical cost:

2021

2020

£

£

Cost

2,613,002

2,613,000

Fixed asset investments were valued on an open market basis on by the director. .

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Amounts owed to group undertakings

1,962,999

1,962,999

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

2

Ordinary

£1

2

2

8.

RESERVES

Capital

Retained

Share

Revaluation

redemption

earnings

premium

reserve

reserve

Totals

£

£

£

£

£

At 1 July 2020

-

649,999

6,315,000

2

6,965,001

Profit for the year

447,774

447,774

Dividends

(447,774

)

(447,774

)

Revaluation of subsidiary

-

-

3,720,000

-

3,720,000

At 30 June 2021

-

649,999

10,035,000

2

10,685,001

9.	CONTINGENT LIABILITIES

The company has given cross guarantees to Handelsbanken plc in respect of amounts outstanding with fellow group and connected companies. At the balance sheet date these amounted to £1,478,333 (2020 - £1,520,000).

10.	RELATED PARTY DISCLOSURES

The company also received dividends totalling £447,774 (2020: £224,400) from Longvale Limited.

At the balance sheet date, the company owed £1,962,999 (2020: £1,962,999) to Longvale Limited.