Company Registration No. 05279390 (England and Wales)
Fiducia Holdings (Dedham) Limited
Annual report and unaudited financial statements
for the year ended 31 December 2020
Pages for filing with Registrar
Fiducia Holdings (Dedham) Limited
Company information
Directors
J H Millican
G Kearney
B Gant
Company number
05279390
Registered office
Dedham Hall Business Centre
Brook Street
Dedham
Essex
CO7 6AD
Accountants
Whittles
Whittle & Partners LLP
The Old Exchange
64 West Stockwell Street
Colchester
Essex
CO1 1HE
Fiducia Holdings (Dedham) Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Fiducia Holdings (Dedham) Limited
Balance sheet
As at 31 December 2020
31 December 2020
Company registration no. 05279390
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Investments
4
288,597
288,597
Current assets
-
-
Creditors: amounts falling due within one year
6
(34,117)
Net current liabilities
(34,117)
Total assets less current liabilities
288,597
254,480
Capital and reserves
Called up share capital
7
1,000
1,000
Share premium account
149,935
149,935
Profit and loss reserves
137,662
103,545
Total equity
288,597
254,480
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 21 April 2021 and are signed on its behalf by:
G Kearney
Director
Fiducia Holdings (Dedham) Limited
Notes to the financial statements
For the year ended 31 December 2020
- 2 -
1
Accounting policies
Company information
Fiducia Holdings (Dedham) Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Dedham Hall Business Centre, Brook Street, Dedham, Essex, CO7 6AD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
1.3
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Fiducia Holdings (Dedham) Limited
Notes to the financial statements (continued)
For the year ended 31 December 2020
1
Accounting policies
(Continued)
- 3 -
1.4
Financial instruments
Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost. Financial assets comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Investments, including those in subsidiary undertakings are held at fair value at the balance sheet date, with gains and losses being recognised within income and expenditure. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions. Assets and liabilities held in foreign currencies are translated to GBP at the balance sheet date at an appropriate year end exchange rate.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
3
3
Fiducia Holdings (Dedham) Limited
Notes to the financial statements (continued)
For the year ended 31 December 2020
- 4 -
4
Fixed asset investments
2020
2019
£
£
Investments
288,597
288,597
Fixed asset investments are all investments in subsidiary companies and are stated at cost. Details of the underlying net assets of the investments are shown in Note 5 - Subsidiaries.
Movements in fixed asset investments
Shares
£
Cost or valuation
At 1 January 2019 & 31 December 2019
288,597
Carrying amount
At 31 December 2020
288,597
At 31 December 2019
288,597
5
Subsidiaries
These financial statements are separate company financial statements for Fiducia Holdings (Dedham) Limited. No consolidated financial statements for the group have been prepared.
Details of the company's subsidiaries at 31 December 2020 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Fiducia Investment Management Limited
England & Wales
Ordinary
100.00
Fiducia Wealth Management Limited
England & Wales
Ordinary
100.00
Financial Planning Organisation Limited
England & Wales
Ordinary
100.00
Fiducia Finance Limited
England & Wales
Ordinary
100.00
Fiducia Corporate Finance Limited
England & Wales
Ordinary
100.00
Fiducia Family Office Limited
England & Wales
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Fiducia Holdings (Dedham) Limited
Notes to the financial statements (continued)
For the year ended 31 December 2020
5
Subsidiaries
(Continued)
- 5 -
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Fiducia Investment Management Limited
646
Fiducia Wealth Management Limited
353,505
1,283,283
Financial Planning Organisation Limited
45,285
23,590
Fiducia Finance Limited
1
Fiducia Corporate Finance Limited
1
Fiducia Family Office Limited
1
6
Creditors: amounts falling due within one year
2020
2019
£
£
Amounts owed to group undertakings
34,117
7
Called up share capital
2020
2019
2020
2019
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
8
Financial commitments, guarantees and contingent liabilities
The director, J H Millican, holds a fixed and floating charge over the company and its assets.
9
Parent company
The company is 100% owned by Fisslewick Limited, a company controlled by G Kearney and S Laws.