Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01No description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09505127 2022-04-01 2023-03-31 09505127 2021-04-01 2022-03-31 09505127 2023-03-31 09505127 2022-03-31 09505127 c:Director2 2022-04-01 2023-03-31 09505127 d:FreeholdInvestmentProperty 2023-03-31 09505127 d:FreeholdInvestmentProperty 2022-03-31 09505127 d:CurrentFinancialInstruments 2023-03-31 09505127 d:CurrentFinancialInstruments 2022-03-31 09505127 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09505127 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09505127 d:ShareCapital 2023-03-31 09505127 d:ShareCapital 2022-03-31 09505127 d:RetainedEarningsAccumulatedLosses 2023-03-31 09505127 d:RetainedEarningsAccumulatedLosses 2022-03-31 09505127 c:FRS102 2022-04-01 2023-03-31 09505127 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09505127 c:FullAccounts 2022-04-01 2023-03-31 09505127 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09505127 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-04-01 2023-03-31 09505127 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-31 09505127 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 09505127










DEWING PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
DEWING PROPERTIES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DEWING PROPERTIES LIMITED
FOR THE YEAR ENDED 31 MARCH 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dewing Properties Limited for the year ended 31 March 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Dewing Properties Limited, as a body, in accordance with the terms of our engagement letter dated 15 November 2019Our work has been undertaken solely to prepare for your approval the financial statements of Dewing Properties Limited  and state those matters that we have agreed to state to the Board of directors of Dewing Properties Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dewing Properties Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Dewing Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dewing Properties Limited. You consider that Dewing Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Dewing Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
23 November 2023
Page 1

 
DEWING PROPERTIES LIMITED
REGISTERED NUMBER: 09505127

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Investment property
 4 
450,000
450,000

  
450,000
450,000

Current assets
  

Debtors: amounts falling due within one year
 5 
2,408
193,841

Cash at bank and in hand
  
13,693
5,482

  
16,101
199,323

Creditors: amounts falling due within one year
 6 
(123,774)
(307,237)

Net current liabilities
  
 
 
(107,673)
 
 
(107,914)

Total assets less current liabilities
  
342,327
342,086

  

Net assets
  
342,327
342,086


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
341,327
341,086

  
342,327
342,086


Page 2

 
DEWING PROPERTIES LIMITED
REGISTERED NUMBER: 09505127
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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 profit and loss account 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 21 November 2023.




I P M Webster
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
DEWING PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Dewing Properties Limited is a United Kingdom Company limited by shares. It is both incorporated and domiciled in England and Wales. The address of its registered office is Dewing Properties Office, Banningham Road, Aylsham, Norwich, NR11 6LP.
The Company's principal activity is that of development of building projects.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.4

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.

Page 4

 
DEWING PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 5

 
DEWING PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

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 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 average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
450,000



At 31 March 2023
450,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.





5.


Debtors

2023
2022
£
£


Trade debtors
-
15,000

Other debtors
807
178,841

Prepayments and accrued income
1,601
-

2,408
193,841


Page 6

 
DEWING PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,177
216,022

Corporation tax
-
88,129

Other taxation and social security
-
1,066

Other creditors
116,050
-

Accruals and deferred income
5,547
2,020

123,774
307,237



7.


Related party transactions

As at 31 March 2023, a balance of £116,050 (2022: £178,841 was owed by) was owed to Dewing Grain Limited, a company with common directors and shareholders.

 
Page 7