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Financial Statements |
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for the period |
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10 September 2020 to 31 March 2021 |
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for |
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DARTS CORNER HOLDINGS LTD |
REGISTERED NUMBER:
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Financial Statements |
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for the period |
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10 September 2020 to 31 March 2021 |
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for |
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DARTS CORNER HOLDINGS LTD |
DARTS CORNER HOLDINGS LTD (REGISTERED NUMBER: 12868130) |
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Contents of the Financial Statements |
for the period 10 September 2020 to 31 March 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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DARTS CORNER HOLDINGS LTD |
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Company Information |
for the period 10 September 2020 to 31 March 2021 |
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Directors: |
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Secretary: |
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Registered office: |
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Registered number: |
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Auditors: |
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Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
DARTS CORNER HOLDINGS LTD (REGISTERED NUMBER: 12868130) |
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Balance Sheet |
31 March 2021 |
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Notes | £ | £ |
Fixed assets |
Investments | 5 |
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Current assets |
Debtors | 6 |
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Creditors |
Amounts falling due within one year | 7 |
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Net current liabilities | ( |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one
year |
8 |
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Net liabilities | ( |
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Capital and reserves |
Called up share capital | 10 |
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Retained earnings | ( |
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Shareholders' funds | ( |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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DARTS CORNER HOLDINGS LTD (REGISTERED NUMBER: 12868130) |
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Notes to the Financial Statements |
for the period 10 September 2020 to 31 March 2021 |
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1. | Statutory information |
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Darts Corner Holdings is a private company, limited by shares , registered in England and Wales incorporated on 10th September 2020. The company's registered number and registered office address can be found on the Company Information page. |
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2. | Statement of compliance |
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3. | Accounting policies |
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Basis of preparing the financial statements |
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The financial statements have been prepared on a going concern basis. The Board has reviewed and considered relevant information, including budgets and future committed customer orders in making their assessment. In particular, in response to the COVID-19 pandemic, the Board have considered the measures that they could take to mitigate the impact. Based on these assessments and the current resources available, the Board has concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts |
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Significant judgements and estimates |
The principal accounting policies applied in the preparation of these financial statement are set out below. These policies have been consistently applied to all years presented, unless otherwise stated. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Investment in subsidiary undertakings is recognised at cost less provision for impairment. |
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Financial instruments |
Basic financial assets, including loans to fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
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Such assets are subsequently carried at amortised cost using the effective interest method. |
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There are no assets which are initially measured at fair value. |
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(ii) Financial liabilities |
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Basic financial liabilities, including loan notes that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
DARTS CORNER HOLDINGS LTD (REGISTERED NUMBER: 12868130) |
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Notes to the Financial Statements - continued |
for the period 10 September 2020 to 31 March 2021 |
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3. | Accounting policies - continued |
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Loan notes |
Loan notes are recognised on the date that they arose any interest that the loan notes attract are recognised on an accruals basis any repayments are recognised on the date of receipt. |
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Share capital |
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. |
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4. | Employees and directors |
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The average number of employees during the period was NIL. |
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5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
Additions |
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At 31 March 2021 |
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Net book value |
At 31 March 2021 |
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6. | Debtors: amounts falling due within one year |
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Amounts owed by group undertakings |
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Other debtors |
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7. | Creditors: amounts falling due within one year |
£ |
Taxation and social security |
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Other creditors |
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8. | Creditors: amounts falling due after more than one year |
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Other creditors |
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Other creditors relate to loan notes that are due for redemption on 9 November 2025 and attract interest of 10% per annum. |
DARTS CORNER HOLDINGS LTD (REGISTERED NUMBER: 12868130) |
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Notes to the Financial Statements - continued |
for the period 10 September 2020 to 31 March 2021 |
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9. | Secured debts |
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The following secured debts are included within creditors: |
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£ |
Loan notes | 12,599,099 |
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The loan notes are secured by way of a first legal mortgage, first fixed charge and first floating charge over the assets and undertakings in the group as well as a negative pledge. |
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10. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
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Ordinary A | £1 | 437 |
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Ordinary B1 | £1 | 232 |
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Ordinary B2 | £1 | 231 |
900 |
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The following shares were allotted and fully paid for cash at par during the period: |
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437 Ordinary A shares of £1 each |
232 Ordinary B1 shares of £1 each |
231 Ordinary B2 shares of £1 each |
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11. | Disclosure under Section 444(5B) of the Companies Act 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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12. | Related party disclosures |
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Owner holding a participating interest in Darts Corner Holdings Limited |
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2021 |
£ |
Other creditors | 12,599,099 |
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The above loan notes are due for redemption on 9 November 2025 and attract interest of 10% per annum. |