REGISTERED NUMBER: |
DAHT LIMITED |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
REGISTERED NUMBER: |
DAHT LIMITED |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
DAHT LIMITED (REGISTERED NUMBER: 04716134) |
Contents of the Financial Statements |
for the year ended 31 December 2022 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 4 | to | 6 |
DAHT LIMITED |
Company Information |
for the year ended 31 December 2022 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
5-6 Greenfield Crescent |
Edgbaston |
Birmingham |
West Midlands |
B15 3BE |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
DAHT Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DAHT Limited for the year ended 31 December 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of DAHT Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of DAHT Limited and state those matters that we have agreed to state to the Board of Directors of DAHT Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DAHT Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that DAHT Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of DAHT Limited. You consider that DAHT Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of DAHT Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
5-6 Greenfield Crescent |
Edgbaston |
Birmingham |
West Midlands |
B15 3BE |
DAHT LIMITED (REGISTERED NUMBER: 04716134) |
Balance Sheet |
31 December 2022 |
2022 | 2021 |
Notes | £ | £ |
Current assets |
Debtors | 4 |
Total assets less current liabilities |
Capital and reserves |
Called up share capital |
Shareholders' funds |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
DAHT LIMITED (REGISTERED NUMBER: 04716134) |
Notes to the Financial Statements |
for the year ended 31 December 2022 |
1. | Statutory information |
DAHT Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
The company was dormant throughout the current year and previous year. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Going concern |
The company transferred its trade, assets and liabilities to two associated companies on 29 July 2012 and 30 December 2012 respectively and has consequently ceased trading. As required by FRS 18 Accounting Policies, the directors have prepared the financial statements on the basis that the company is no longer a going concern. No material adjustments arose as a result of ceasing to apply the going concern basis. All assets and liabilities were transferred to the associated companies at their book value. |
DAHT LIMITED (REGISTERED NUMBER: 04716134) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2022 |
2. | Accounting policies - continued |
Impairment of fixed assets |
At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to each asset for which the estimates of future cash flows have not been adjusted. |
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease |
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase |
DAHT LIMITED (REGISTERED NUMBER: 04716134) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2022 |
2. | Accounting policies - continued |
Financial instruments |
The Company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares |
For financial assets measured at amortised cost, the impairment cost is measured at the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the assets effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract |
For assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Finance costs |
Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument |
Dividends |
Equity dividends are recognised when they legally become payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholdersat an annual general meeting. |
Judgements in applying accounting policies and key sources of estimation uncertainty |
In the process of applying the company's accounting policies, management are required to make certain estimates and judgements. The key estimates and judgements are as follows: |
Depreciation and residual values |
The directors have reviewed the asset lives and associated residual values of all fixed asset classes, and has concluded that asset lives and residual values are appropriate |
3. | Employees and directors |
The average number of employees during the year was |
4. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Amounts owed by group undertakings |
5. | Ultimate controlling party |
The company is a wholly owned subsidiary of Domino's Pizza West Country Limited . This company is a joint venture between Domino's Pizza Group plc and Mr & Mrs David Rose. The two parties to the joint venture each own 50% of the share capital and have joint control. |