REGISTERED NUMBER: |
DARE WARWICK (PROPERTIES) LIMITED |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 |
REGISTERED NUMBER: |
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: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
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 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium | 10 |
Other reserves | 10 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
DARE WARWICK (PROPERTIES) LIMITED (REGISTERED NUMBER: 00545481) |
STATEMENT OF FINANCIAL POSITION - continued |
31ST MARCH 2023 |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
£ |
Cost |
At 1st April 2022 |
and 31st March 2023 |
Depreciation |
At 1st April 2022 |
Charge for year |
At 31st March 2023 |
Net book value |
At 31st March 2023 |
At 31st March 2022 |
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 |
Other loans |
Additional information is as follows: |
Other |
investments |
£ |
Cost |
At 1st April 2022 |
Additions |
Disposals | ( |
) |
Market value movement | (367,606 | ) |
At 31st March 2023 |
Net book value |
At 31st March 2023 |
At 31st March 2022 |
Mortgage |
loan |
£ |
At 1st April 2022 |
Repayment in year | ( |
) |
At 31st March 2023 |
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 |
Additions |
At 31st March 2023 |
Net book value |
At 31st March 2023 |
At 31st March 2022 |
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 |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
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 | 27,842,683 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 31st March 2023 | 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. |
for and on behalf of |
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'. |