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Registered number: 11507084









DOMINUS HOLBORN LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
DOMINUS HOLBORN LIMITED
REGISTERED NUMBER: 11507084

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
95,941,969
73,545,722

Investments
 5 
1
-

  
95,941,970
73,545,722

Current assets
  

Debtors: amounts falling due within one year
 6 
448,221
228,591

Cash at bank and in hand
  
3,968,268
756,490

  
4,416,489
985,081

Creditors: amounts falling due within one year
 7 
(52,777,730)
(76,023,828)

Net current liabilities
  
 
 
(48,361,241)
 
 
(75,038,747)

Total assets less current liabilities
  
47,580,729
(1,493,025)

Creditors: amounts falling due after more than one year
  
(49,092,091)
-

  

Net liabilities
  
(1,511,362)
(1,493,025)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(1,511,363)
(1,493,026)

  
(1,511,362)
(1,493,025)


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 income and retained earnings 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 24 July 2024.


S S Ahluwalia
Director

The notes on pages 3 to 6 form part of these financial statements.
Page 1

 
DOMINUS HOLBORN LIMITED
REGISTERED NUMBER: 11507084
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023


Page 2

 
DOMINUS HOLBORN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Dominus Holborn Limited is a private company limited by shares and incorporated in England & Wales. The address of its principal place of business is 14A Shouldham Street, Marylebone, London, W1H 5FJ.

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 company's functional and presentational currency is GBP, rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The company shows net current liabilities at the balance sheet date of £48,361,241. The company has received formal confirmation from its shareholder that the company will receive the financial support it requires to enable it to meet its liabilities as they fall due.  Based on this assurance, the directors consider it appropriate to prepare the financial statements on a going concern basis.
In making their assessment of going concern, the directors have considered information for a period of at least twelve months from the date the financial statements were authorised for issue.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset have been capitalised.
Capitalisation of borrowing costs ceases when substantially all of the activities necessary to prepare the asset for its intended use or sale are complete.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
DOMINUS HOLBORN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is provided on the following basis:

Asset under construction
-
Not depreciated until brought into use

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.9

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. 

 
2.10

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. 

 
2.11

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 and loans to or from related parties.
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.


3.


Employees

The company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

Page 4

 
DOMINUS HOLBORN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Asset under construction

£



Cost


At 1 January 2023
73,545,722


Additions
22,396,247



At 31 December 2023

95,941,969






Net book value



At 31 December 2023
95,941,969



At 31 December 2022
73,545,722

Capitalised borrowing costs of £3,113,423 are included in assets under construction additions during the year.


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
1



At 31 December 2023
1





6.


Debtors

2023
2022
£
£


Other debtors
448,221
228,591

448,221
228,591


Page 5

 
DOMINUS HOLBORN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
28,875,000

Trade creditors
1,323,082
642,089

Amounts owed to group undertakings
51,034,160
46,484,999

Other creditors
100,000
-

Accruals
320,488
21,740

52,777,730
76,023,828



8.


Related party transactions

Dominus Holborn Limited is a wholly owned subsidiary of Dominvs Project Company 16 Hold Co Limited, a company incorporated in England & Wales. The registered office of the company is 1 London Street, Reading, RG1 4PN.
The company is also the parent of a subsidiary, Dominus Holborn Op Co Limited. The registered office of the company is 1 London Street, Reading, RG1 4PN.
The company has taken advantage of the exemption in FRS 102 from the requirement to disclose transactions with group companies.
During the year the company incurred management charges of £664 (2022: £650,000) from companies under common control, at the balance sheet date £100,000 (2022: £Nil) was due to these entities.


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 24 July 2024 by Richard Paul (Senior Statutory Auditor) on behalf of Nyman Libson Paul LLP.

 
Page 6