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No description of principal activity
2020-01-01
Sage Accounts Production Advanced 2020 - FRS102_2019
682,780
682,780
682,780
xbrli:pure
xbrli:shares
iso4217:GBP
06685333
2020-01-01
2020-12-31
06685333
2020-12-31
06685333
2019-12-31
06685333
bus:Director2
2020-01-01
2020-12-31
06685333
core:WithinOneYear
2020-12-31
06685333
core:WithinOneYear
2019-12-31
06685333
core:ShareCapital
2020-12-31
06685333
core:ShareCapital
2019-12-31
06685333
core:RetainedEarningsAccumulatedLosses
2020-12-31
06685333
core:RetainedEarningsAccumulatedLosses
2019-12-31
06685333
core:CostValuation
core:Non-currentFinancialInstruments
2020-12-31
06685333
core:Non-currentFinancialInstruments
2020-12-31
06685333
core:Non-currentFinancialInstruments
2019-12-31
06685333
bus:SmallEntities
2020-01-01
2020-12-31
06685333
bus:AuditExempt-NoAccountantsReport
2020-01-01
2020-12-31
06685333
bus:FullAccounts
2020-01-01
2020-12-31
06685333
bus:SmallCompaniesRegimeForAccounts
2020-01-01
2020-12-31
06685333
bus:PrivateLimitedCompanyLtd
2020-01-01
2020-12-31
COMPANY REGISTRATION NUMBER:
06685333
DHI Global Holdings Limited
|
|
Filleted Unaudited Financial Statements
|
|
DHI Global Holdings Limited
|
|
Statement of Financial Position
|
|
31 December 2020
Fixed assets
Investments
|
4
|
|
682,780
|
682,780
|
|
|
|
|
|
Current assets
Debtors
|
5
|
404,721
|
|
3,482,800
|
Cash at bank and in hand
|
9,474,323
|
|
5,749,368
|
|
------------
|
|
------------
|
|
9,879,044
|
|
9,232,168
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
6
|
614,436
|
|
391,599
|
|
------------
|
|
------------
|
Net current assets
|
|
9,264,608
|
8,840,569
|
|
|
------------
|
------------
|
Total assets less current liabilities
|
|
9,947,388
|
9,523,349
|
|
|
------------
|
------------
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
1
|
1
|
Profit and loss account
|
|
9,947,387
|
9,523,348
|
|
|
------------
|
------------
|
Shareholders funds
|
|
9,947,388
|
9,523,349
|
|
|
------------
|
------------
|
|
|
|
|
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 income and retained earnings has not been delivered.
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
23 September 2021
, and are signed on behalf of the board by:
Company registration number:
06685333
DHI Global Holdings Limited
|
|
Notes to the Financial Statements
|
|
Year ended 31 December 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 43 New Cavendish Street, London, W1G 9TH.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Investments
|
Other investments other than loans
|
|
£
|
Cost
|
|
At 1 January 2020 and 31 December 2020
|
682,780
|
|
---------
|
Impairment
|
|
At 1 January 2020 and 31 December 2020
|
–
|
|
---------
|
|
|
Carrying amount
|
|
At 31 December 2020
|
682,780
|
|
---------
|
At 31 December 2019
|
682,780
|
|
---------
|
|
|
The company owns 100% of the issued share capital of the companies listed below,
Name
Country of incorporation
Class of shares held
Proportion of shares held directly
DHI International UK Limited
England
Ordinary £1
100% I.G.T. Two Holding Limited
Cyprus
Ordinary Euro1
100% London Hair Restoration
Training Academy Limited
England
Ordinary £1
100%
Proportion of shares held by subsidiaries of
DHI Global Holdings Limited
D.H.I.Global Limited
Cyprus
Ordinary Euro1
100% D.H.I.Holdings Limited
Cyprus
Ordinary Euro1
80% D.H.I.Products Limited
Cyprus
Ordinary Euro1
100% D.H.I. & MPG Limited
Cyprus
Ordinary Euro1
100% Dexpo Intelectual Limited
Cyprus
Ordinary Euro1
100%
Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
5.
Debtors
|
2020
|
2019
|
|
£
|
£
|
Trade debtors
|
177,972
|
–
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
226,749
|
3,482,800
|
|
---------
|
------------
|
|
404,721
|
3,482,800
|
|
---------
|
------------
|
|
|
|
6.
Creditors:
amounts falling due within one year
|
2020
|
2019
|
|
£
|
£
|
Trade creditors
|
102,553
|
–
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
468,889
|
380,407
|
Corporation tax
|
29,070
|
–
|
Other creditors
|
13,924
|
11,192
|
|
---------
|
---------
|
|
614,436
|
391,599
|
|
---------
|
---------
|
|
|
|
7.
Related party transactions
The company was under the control of Mr K.Giotis throughout the current and previous year. Mr Giotis is the majority shareholder. Loans with related companies are disclosed seperately in the notes to the accounts.