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REGISTERED NUMBER: 04295272 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

DWELL HERE LIMITED

DWELL HERE LIMITED (REGISTERED NUMBER: 04295272)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 5


DWELL HERE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr N K R Patel
Mrs A Patel





SECRETARY: Mr N K R Patel





REGISTERED OFFICE: Solar House
282 Chase Road
Southgate
London
N14 6NZ





REGISTERED NUMBER: 04295272 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certifed Accountants
Solar House
282 Chase Road
London
N14 6NZ

DWELL HERE LIMITED (REGISTERED NUMBER: 04295272)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,000,709 4,003,212
Investments 6 50 50
4,000,759 4,003,262

CURRENT ASSETS
Debtors 7 101,104 269,414
Cash at bank and in hand 361,767 392,448
462,871 661,862
CREDITORS
Amounts falling due within one year 8 201,930 263,037
NET CURRENT ASSETS 260,941 398,825
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,261,700

4,402,087

CREDITORS
Amounts falling due after more than one
year

9

1,970,913

2,152,530
NET ASSETS 2,290,787 2,249,557

CAPITAL AND RESERVES
Called up share capital 11 90 90
Revaluation reserve 12 1,208,147 1,208,147
Retained earnings 1,082,550 1,041,320
SHAREHOLDERS' FUNDS 2,290,787 2,249,557

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

DWELL HERE LIMITED (REGISTERED NUMBER: 04295272)

BALANCE SHEET - continued
31 MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

DWELL HERE LIMITED (REGISTERED NUMBER: 04295272)

BALANCE SHEET - continued
31 MARCH 2023



The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2023 and were signed on its behalf by:





Mr N K R Patel - Director


DWELL HERE LIMITED (REGISTERED NUMBER: 04295272)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Dwell Here Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents hotel room bookings and restaurant sales stated after trade discounts, other sales taxes and net of VAT.

Restaurant sales are recognised at the date the service was provided. Hotel room bookings are recognised at the date the reservation occurred.

Rent received
Rents received represents amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occurred. This is stated after trade discounts, and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Improvements to property - not provided
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Depreciation of property and improvements

The freehold property is maintained on a regular basis. The directors therefore do not provide depreciation on the property or the relative improvements as they believe that the value is maintained. This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary as current value and changes in current value is of prime importance rather than the calculation of systematic annual depreciation.

The property is included in the balance sheet at it's current fair value. Valuations are carried out frequently. The surplus or deficit on revaluation is transferred to the revaluation reserve. Depreciation is therefore not provided on these assets.


DWELL HERE LIMITED (REGISTERED NUMBER: 04295272)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 240,000
AMORTISATION
At 1 April 2022
and 31 March 2023 240,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
property property fittings
£    £    £   
COST OR VALUATION
At 1 April 2022 2,152,498 1,797,502 729,393
Additions - - 14,400
At 31 March 2023 2,152,498 1,797,502 743,793
DEPRECIATION
At 1 April 2022 - - 678,510
Charge for year - - 16,321
At 31 March 2023 - - 694,831
NET BOOK VALUE
At 31 March 2023 2,152,498 1,797,502 48,962
At 31 March 2022 2,152,498 1,797,502 50,883

DWELL HERE LIMITED (REGISTERED NUMBER: 04295272)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 9,000 33,074 4,721,467
Additions - - 14,400
At 31 March 2023 9,000 33,074 4,735,867
DEPRECIATION
At 1 April 2022 8,458 31,287 718,255
Charge for year 136 446 16,903
At 31 March 2023 8,594 31,733 735,158
NET BOOK VALUE
At 31 March 2023 406 1,341 4,000,709
At 31 March 2022 542 1,787 4,003,212


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022
and 31 March 2023 50
NET BOOK VALUE
At 31 March 2023 50
At 31 March 2022 50

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors - 86,853
Amount owed by related company 101,104 83,104
Directors' current accounts - 99,457
101,104 269,414

DWELL HERE LIMITED (REGISTERED NUMBER: 04295272)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 118,706 131,998
Trade creditors - 25,562
Tax 16,270 36,752
Social security and other taxes 7,825 588
Net wages payable 7,727 -
Pensions - 227
VAT 6,953 4,385
Directors' current accounts 644 -
Deferred income 12,500 37,500
Accrued expenses 31,305 26,025
201,930 263,037

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 118,706 131,998
Bank loans - 2-5 years 356,117 395,994
Bank loans more than 5 years 1,496,090 1,624,538
1,970,913 2,152,530

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 1,496,090 1,624,538

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 2,089,619 2,284,528

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
90 Ordinary £1 90 90

DWELL HERE LIMITED (REGISTERED NUMBER: 04295272)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


12. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 1,208,147

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mr N K R Patel
Balance outstanding at start of year 99,457 (67 )
Amounts advanced 543 285,640
Amounts repaid (100,000 ) (186,116 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 99,457

The overdrawn directors loan account was charged interest of £1,338, calculated at HM Revenue and Customs rates.