IRIS Accounts Production v23.1.5.20 00545481 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 7/11/23 false true false false true false Auditors Opinion Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure005454812022-03-31005454812023-03-31005454812022-04-012023-03-31005454812021-03-31005454812021-04-012022-03-31005454812022-03-3100545481ns16:EnglandWales2022-04-012023-03-3100545481ns15:PoundSterling2022-04-012023-03-3100545481ns11:Director12022-04-012023-03-3100545481ns11:Director22022-04-012023-03-3100545481ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3100545481ns11:SmallEntities2022-04-012023-03-3100545481ns11:Audited2022-04-012023-03-3100545481ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3100545481ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3100545481ns11:FullAccounts2022-04-012023-03-3100545481ns11:OrdinaryShareClass12022-04-012023-03-3100545481ns11:Director42022-04-012023-03-3100545481ns11:Director52022-04-012023-03-3100545481ns11:Director62022-04-012023-03-3100545481ns11:Director32022-04-012023-03-3100545481ns11:Director72022-04-012023-03-3100545481ns11:CompanySecretary12022-04-012023-03-3100545481ns11:RegisteredOffice2022-04-012023-03-3100545481ns6:CurrentFinancialInstruments2023-03-3100545481ns6:CurrentFinancialInstruments2022-03-3100545481ns6:ShareCapital2023-03-3100545481ns6:ShareCapital2022-03-3100545481ns6:SharePremium2023-03-3100545481ns6:SharePremium2022-03-3100545481ns6:FurtherSpecificReserve1ComponentTotalEquity2023-03-3100545481ns6:FurtherSpecificReserve1ComponentTotalEquity2022-03-3100545481ns6:RetainedEarningsAccumulatedLosses2023-03-3100545481ns6:RetainedEarningsAccumulatedLosses2022-03-3100545481ns6:PlantMachinery2022-04-012023-03-3100545481ns6:PlantMachinery2022-03-3100545481ns6:PlantMachinery2023-03-3100545481ns6:PlantMachinery2022-03-3100545481ns6:CostValuation2022-03-3100545481ns6:AdditionsToInvestments2023-03-3100545481ns6:DisposalsRepaymentsInvestments2023-03-3100545481ns6:CostValuation2023-03-3100545481ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3100545481ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3100545481ns11:OrdinaryShareClass12023-03-3100545481ns6:RetainedEarningsAccumulatedLosses2022-03-3100545481ns6:SharePremium2022-03-3100545481ns6:FurtherSpecificReserve1ComponentTotalEquity2022-03-3100545481ns6:RetainedEarningsAccumulatedLosses2022-04-012023-03-31
REGISTERED NUMBER: 00545481 (England and Wales)















DARE WARWICK (PROPERTIES) LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023






DARE WARWICK (PROPERTIES) LIMITED (REGISTERED NUMBER: 00545481)

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










Page

Company information 1

Statement of financial position 2 to 3

Notes to the financial statements 4 to 8


DARE WARWICK (PROPERTIES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







Directors: R D Warwick
G M G Allen
L G Peirce
S Rose
J W D Warwick
J C Barwell
O C Ferrero





Secretary: J C Barwell





Registered office: Richmead
Broadway
Didcot
Oxfordshire
OX11 8DJ





Registered number: 00545481 (England and Wales)





Auditors: Menzies LLP
Chartered Accountants and Statutory Auditors
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP

DARE WARWICK (PROPERTIES) LIMITED (REGISTERED NUMBER: 00545481)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 482 643
Investments 5 4,088,117 4,600,297
Investment property 6 28,209,575 28,170,000
32,298,174 32,770,940

CURRENT ASSETS
Debtors 7 15,977 86,065
Cash at bank 257,908 277,884
273,885 363,949
CREDITORS
Amounts falling due within one year 8 (904,853 ) (928,230 )
NET CURRENT LIABILITIES (630,968 ) (564,281 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,667,206

32,206,659

PROVISIONS FOR LIABILITIES (4,258,770 ) (4,353,976 )
NET ASSETS 27,408,436 27,852,683

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Share premium 10 938 938
Other reserves 10 21,270,213 21,270,213
Retained earnings 10 6,127,285 6,571,532
SHAREHOLDERS' FUNDS 27,408,436 27,852,683

DARE WARWICK (PROPERTIES) LIMITED (REGISTERED NUMBER: 00545481)

STATEMENT OF FINANCIAL POSITION - continued
31ST 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.

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




L G Peirce - Director



S Rose - Director


DARE WARWICK (PROPERTIES) LIMITED (REGISTERED NUMBER: 00545481)

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


1. STATUTORY INFORMATION

Dare Warwick (Properties) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
No significant judgements or estimates have had to be made by the directors in preparing these financial statement.

Revenue
Revenue represents the total invoice value, excluding value added tax, trade discounts and all the other taxes of sales made during the year.

Revenue recognition
Revenue is recognised in the Income Statement as rents and other income become due to the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the income statement. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the income statement.


DARE WARWICK (PROPERTIES) LIMITED (REGISTERED NUMBER: 00545481)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
Cost
At 1st April 2022
and 31st March 2023 129,217
Depreciation
At 1st April 2022 128,574
Charge for year 161
At 31st March 2023 128,735
Net book value
At 31st March 2023 482
At 31st March 2022 643

DARE WARWICK (PROPERTIES) LIMITED (REGISTERED NUMBER: 00545481)

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


5. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Other investments not loans 4,049,717 4,560,797
Other loans 38,400 39,500
4,088,117 4,600,297

Additional information is as follows:
Other
investments
£   
Cost
At 1st April 2022 4,560,797
Additions 144,513
Disposals (287,987 )
Market value movement (367,606 )
At 31st March 2023 4,049,717
Net book value
At 31st March 2023 4,049,717
At 31st March 2022 4,560,797
Mortgage
loan
£   
At 1st April 2022 39,500
Repayment in year (1,100 )
At 31st March 2023 38,400

DARE WARWICK (PROPERTIES) LIMITED (REGISTERED NUMBER: 00545481)

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


6. INVESTMENT PROPERTY
Total
£   
Fair value
At 1st April 2022 28,170,000
Additions 39,575
At 31st March 2023 28,209,575
Net book value
At 31st March 2023 28,209,575
At 31st March 2022 28,170,000

Investment Property was valued by Lambert Smith Hampton on open market value as at 31st March 2020.

The development land was valued by Lambert Smith Hampton on 31st March 2014 and the Directors are of the opinion that this valuation remains unchanged.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,150 18,320
Other debtors 5,827 67,745
15,977 86,065

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,027 18,529
Taxation and social security 89,906 98,190
Other creditors 801,920 811,511
904,853 928,230

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Share capital £1 10,000 10,000

DARE WARWICK (PROPERTIES) LIMITED (REGISTERED NUMBER: 00545481)

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


10. RESERVES
Retained Share Other
earnings premium reserves Totals
£    £    £    £   

At 1st April 2022 6,571,532 938 21,270,213 27,842,683
Profit for the year 5,753 5,753
Dividends (450,000 ) (450,000 )
At 31st March 2023 6,127,285 938 21,270,213 27,398,436

Transfers between reserves represents the deferred tax impact of the fair value adjustments relating to investment properties.

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

James Fox ACA (Senior Statutory Auditor)
for and on behalf of Menzies LLP

12. RELATED PARTY DISCLOSURES

Included in other fixed assets are loans to directors in the ordinary course of business amounting to £38,600 (2022: £39,500), interest has been charged at proper commercial rates.

An advance has been made to a director 'jointly with others'.