Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31false2022-01-01No description of principal activity00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13625172 2022-01-01 2022-12-31 13625172 2021-09-16 2021-12-31 13625172 2022-12-31 13625172 2021-12-31 13625172 c:Director2 2022-01-01 2022-12-31 13625172 d:OtherPropertyPlantEquipment 2022-01-01 2022-12-31 13625172 d:OtherPropertyPlantEquipment 2022-12-31 13625172 d:CurrentFinancialInstruments 2022-12-31 13625172 d:CurrentFinancialInstruments 2021-12-31 13625172 d:Non-currentFinancialInstruments 2022-12-31 13625172 d:Non-currentFinancialInstruments 2021-12-31 13625172 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13625172 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 13625172 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 13625172 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 13625172 d:ShareCapital 2022-12-31 13625172 d:ShareCapital 2021-12-31 13625172 d:RetainedEarningsAccumulatedLosses 2022-12-31 13625172 d:RetainedEarningsAccumulatedLosses 2021-12-31 13625172 c:FRS102 2022-01-01 2022-12-31 13625172 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 13625172 c:FullAccounts 2022-01-01 2022-12-31 13625172 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 13625172 2 2022-01-01 2022-12-31 13625172 6 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 13625172









DOMINUS CRUTCHED FRIARS LIMITED (formerly known as Dominvs Project Company 21 Limited)







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
DOMINUS CRUTCHED FRIARS LIMITED
REGISTERED NUMBER: 13625172

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,744,942
-

Investments
 5 
5,225,360
-

  
7,970,302
-

Current assets
  

Debtors: amounts falling due within one year
 6 
58,630,897
1

Cash at bank and in hand
  
3,767,381
-

  
62,398,278
1

Creditors: amounts falling due within one year
 7 
(19,398,648)
-

Net current assets
  
 
 
42,999,630
 
 
1

Total assets less current liabilities
  
50,969,932
1

Creditors: amounts falling due after more than one year
 8 
(53,933,870)
-

  

Net (liabilities)/assets
  
(2,963,938)
1


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(2,963,939)
-

  
(2,963,938)
1


Page 1

 
DOMINUS CRUTCHED FRIARS LIMITED
REGISTERED NUMBER: 13625172
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 September 2023.

S S Ahluwalia
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
DOMINUS CRUTCHED FRIARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Dominus Crutched Friars Limited is a private company limited by shares and incorporated in England & Wales. The address of its principal place of business is 14A Shouldham Street, Marylebone, London, W1H 5FJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The company shows net current liabilities at the balance sheet date of £2,963,938. The company has received formal confirmation from its shareholder that the company will receive the financial support it requires to enable it to meet its liabilities as they fall due. Based on this assurance, the directors consider it appropriate to prepare the financial statements on a going concern basis.
In making their assessement of going concern, the directors have considered information for a period of at least twelve months from the date the financial statements were authorised for issue.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss 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.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
DOMINUS CRUTCHED FRIARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is provided on the following basis:

Asset under construction
-
No depreciation until brought into use

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted, if appropriate, or if there is an indication of a significant change.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.10

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.

 
2.11

Financial instruments

The company only enters into basic financial instrument transactions 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 ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

The company has no employees other than the directors, who did not receive any remuneration (2021 - £NIL).

Page 4

 
DOMINUS CRUTCHED FRIARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Asset under construction

£



Cost


Additions
2,744,942



At 31 December 2022

2,744,942






Net book value



At 31 December 2022
2,744,942


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


Additions
5,225,360



At 31 December 2022
5,225,360





6.


Debtors

2022
2021
£
£


Amounts owed by group undertakings
58,406,618
1

Other debtors
224,279
-

58,630,897
1


Page 5

 
DOMINUS CRUTCHED FRIARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
498,988
-

Amounts owed to group undertakings
18,750,000
-

Other creditors
139,160
-

Accruals
10,500
-

19,398,648
-



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
53,933,870
-

53,933,870
-


Bank loans due after more than one year of £53,933,870 (2021: £Nil) are interest bearing at 7% per annum.
Secured loans
The bank loan is secured by way of a first ranking pledge over the the company's shares and receivables and a fixed and floating charge over the assets of the company and its subsidiary.


9.


Related party transactions

Dominus Crutched Friars Limited is a wholly owned subsidiary of Dominus Crutched Friars Holdings Limited, a company incorporated in Jersey. The registered office address is 28 Esplanade, St Helier, Jersey, JE2 3QA.
The company has taken advantage of the exemption in FRS 102 from the requirement to disclose transactions with wholly owned group companies.
During the year the company incurred management charges £507,370 from companies under common control.  At the reporting date £120,652 (2021: £Nil) was due to these companies and included in amounts due to creditors within one year.

 
Page 6