Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.12022-02-22falseDevelopment of building projects 13932654 2022-02-21 13932654 2022-02-22 2023-02-28 13932654 2021-02-22 2022-02-21 13932654 2023-02-28 13932654 1 2022-02-22 2023-02-28 13932654 d:Director1 2022-02-22 2023-02-28 13932654 c:CurrentFinancialInstruments 2023-02-28 13932654 c:CurrentFinancialInstruments c:WithinOneYear 2023-02-28 13932654 c:ShareCapital 2023-02-28 13932654 c:RetainedEarningsAccumulatedLosses 2023-02-28 13932654 d:OrdinaryShareClass1 2022-02-22 2023-02-28 13932654 d:OrdinaryShareClass1 2023-02-28 13932654 d:FRS102 2022-02-22 2023-02-28 13932654 d:AuditExempt-NoAccountantsReport 2022-02-22 2023-02-28 13932654 d:FullAccounts 2022-02-22 2023-02-28 13932654 d:PrivateLimitedCompanyLtd 2022-02-22 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13932654









EAST DULWICH HOMES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 FEBRUARY 2023

 
EAST DULWICH HOMES LTD
REGISTERED NUMBER: 13932654

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
Note
£

Current assets
  

Debtors: amounts falling due within one year
 4 
20,411

Cash at bank and in hand
  
26,317

  
46,728

Creditors: amounts falling due within one year
 5 
(964,317)

Net current liabilities
  
 
 
(917,589)

Total assets less current liabilities
  
(917,589)

Net liabilities
  
(917,589)


Capital and reserves
  

Called up share capital 
 6 
1

Profit and loss account
  
(917,590)

  
(917,589)


The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 comprehensive income 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 by: 




Nick Mason
Director

Date: 13 November 2023

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
EAST DULWICH HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

1.


General information

East Dulwich Homes Ltd is a private company, limited by shares, incorporated and registered in England and Wales. The company's registered office is Manderley, South Park, South Godstone, Surrey, RH9 8LF, United Kingdom. The company's registered number is 13932654.
The principal activity of the company during the period was to seek potential building development projects. 
The company's functional and presentational currency is pound sterling, rounded to the nearest £1.
The financial statements are presented for the period from incorporation on 22 February 2022 to the reporting date of 28 February 2023. 

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

Going concern

Despite net current liabilities and net liabilities of £917,589 at the reporting date, the financial statements have been prepared on a going concern basis. During the period, as disclosed in note 7, the director decided to forfeit the intended project that was entered into as it was no longer feasible in the market conditions. As a result, the director is currently seeking future development projects to undertake. The shareholder also confirms its intention to provide financial support for a period of at least 12 months from signing the financial statements. 
Based on these assessments and having regard to the resources available to the entity, the Director has concluded that there is no material uncertainty and that the going concern basis can continue to be adopted in the preparation of the annual accounts. 

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 2

 
EAST DULWICH HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its 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. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 3

 
EAST DULWICH HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the period was 1.


4.


Debtors

2023
£


Other debtors
20,411



5.


Creditors: Amounts falling due within one year

2023
£

Amounts owed to group undertakings
471,477

Other creditors
471,542

Accruals and deferred income
21,298

964,317


Amounts owed to group undertakings and other creditors are interest free and repayable on demand. 


6.


Share capital

2023
£
Allotted, called up and fully paid


1 Ordinary share share of £1.00
1


During the period 1 ordinary share of £1 was issued, alloted and fully paid. 


7.


Post balance sheet events

Subsequent to the year end in May 2023, a Deed of Termination was agreed with the seller of land that the company were previously looking to acquire. Discussions surrounding the feasibility of the project due to the market downturn and rise in interest rates were well underway at the reporting date and as such, the formalisation of this agreement is considered an adjusting post balance sheet event. 
The deposit paid for the land alongside initial planning and legal fees of £913,811 are as a result irrecoverable and have been fully expensed to the profit and loss account in the period. 

 
Page 4