Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3107222648false22023-01-01falseThe principal activity of the company is that of property investment.2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07222648 2023-01-01 2023-12-31 07222648 2022-01-01 2022-12-31 07222648 2023-12-31 07222648 2022-12-31 07222648 2022-01-01 07222648 c:Director2 2023-01-01 2023-12-31 07222648 d:MotorVehicles 2023-01-01 2023-12-31 07222648 d:MotorVehicles 2023-12-31 07222648 d:MotorVehicles 2022-12-31 07222648 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07222648 d:ComputerEquipment 2023-01-01 2023-12-31 07222648 d:ComputerEquipment 2023-12-31 07222648 d:ComputerEquipment 2022-12-31 07222648 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07222648 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07222648 d:CurrentFinancialInstruments 2023-12-31 07222648 d:CurrentFinancialInstruments 2022-12-31 07222648 d:Non-currentFinancialInstruments 2023-12-31 07222648 d:Non-currentFinancialInstruments 2022-12-31 07222648 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07222648 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07222648 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 07222648 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 07222648 d:ShareCapital 2023-12-31 07222648 d:ShareCapital 2022-12-31 07222648 d:ShareCapital 2022-01-01 07222648 d:OtherMiscellaneousReserve 2023-12-31 07222648 d:OtherMiscellaneousReserve 2022-01-01 2022-12-31 07222648 d:OtherMiscellaneousReserve 2022-12-31 07222648 d:OtherMiscellaneousReserve 2022-01-01 07222648 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 07222648 d:RetainedEarningsAccumulatedLosses 2023-12-31 07222648 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 07222648 d:RetainedEarningsAccumulatedLosses 2022-12-31 07222648 d:RetainedEarningsAccumulatedLosses 2022-01-01 07222648 c:OrdinaryShareClass1 2023-01-01 2023-12-31 07222648 c:OrdinaryShareClass1 2023-12-31 07222648 c:FRS102 2023-01-01 2023-12-31 07222648 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07222648 c:FullAccounts 2023-01-01 2023-12-31 07222648 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07222648 2 2023-01-01 2023-12-31 07222648 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 07222648 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 07222648 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07222648














DAVERLIN LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
DAVERLIN LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Statement of changes in equity
 
3
Notes to the financial statements
 
4 - 8


 
DAVERLIN LIMITED
REGISTERED NUMBER:07222648

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
13,880
21,225

  
13,880
21,225

Current assets
  

Debtors: amounts falling due within one year
 5 
528,256
1,115,324

Cash at bank and in hand
 6 
30,966,324
32,715,788

  
31,494,580
33,831,112

Creditors: amounts falling due within one year
 7 
(23,037,740)
(1,078,762)

Net current assets
  
 
 
8,456,840
 
 
32,752,350

Total assets less current liabilities
  
8,470,720
32,773,575

Creditors: amounts falling due after more than one year
 8 
-
(967,677)

Provisions for liabilities
  

Deferred tax
 9 
(2,974)
-

  
 
 
(2,974)
 
 
-

Net assets
  
8,467,746
31,805,898


Capital and reserves
  

Called up share capital 
 10 
1
1

Profit and loss account
  
8,467,745
31,805,897

  
8,467,746
31,805,898

1

 
DAVERLIN LIMITED
REGISTERED NUMBER:07222648
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 13 August 2024.




K L Caplan
Director

The notes on pages 4 to 8 form part of these financial statements.
2

 
DAVERLIN LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
1
22,206,876
4,962,615
27,169,492



Profit for the year
-
-
4,786,406
4,786,406

Dividends paid
-
-
(150,000)
(150,000)

Transfer to profit and loss account
-
(22,206,876)
22,206,876
-



At 1 January 2023
1
-
31,805,897
31,805,898



Profit for the year
-
-
161,848
161,848

Dividends paid
-
-
(23,500,000)
(23,500,000)


At 31 December 2023
1
-
8,467,745
8,467,746
3

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

1.


General information

The principal activity of the company is that of property investment.

The company is a private company, limited by shares and registered in England and Wales. The registered address of the company is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

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 requirements of the Companies Act 2006.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:
Rental Income
Rental income from a contract is recognised in the period in which the tenancy is provided in accordance with the stage of completion of the contract when both of the following conditions are satisfied:
- the amount of turnover can be measured reliably; and
- it is probable that the company will receive the consideration due under the contract
 

 
2.3

Interest income

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

 
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.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

4

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

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 corporation 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
straight line
Computer equipment
-
25%
straight line

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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
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.

5

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

2.Accounting policies (continued)

 
2.10

  Creditors

Short term creditors are measured at the transaction price. Other financial liabilities 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 to and from related parties.

 
2.12

  Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

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


4.


Tangible fixed assets





Motor vehicles
Computer equipment
Total

£
£
£



Cost


At 1 January 2023
26,495
2,883
29,378



At 31 December 2023

26,495
2,883
29,378



Depreciation


At 1 January 2023
7,728
425
8,153


Charge for the year on owned assets
6,624
721
7,345



At 31 December 2023

14,352
1,146
15,498



Net book value



At 31 December 2023
12,143
1,737
13,880



At 31 December 2022
18,767
2,458
21,225

6

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

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
248,205
735,585

Other debtors
268,274
338,589

Prepayments and accrued income
11,777
41,150

528,256
1,115,324



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
30,966,324
32,715,788



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
27,083
34,867

Amounts owed to group undertakings
22,999,999
-

Other taxation and social security
-
913,263

Other creditors
319
112,756

Accruals and deferred income
10,339
17,876

23,037,740
1,078,762



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
-
967,677



Secured loans

Other creditors consists of loans from the directors, who have floating charges over the fixed assets of the company. All the charges have been satisfied on 20 May 2022.

7

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

9.


Deferred taxation




2023
2022


£

£






At beginning of year
-
(4,003,553)


Profit and loss account movement
(2,974)
4,003,553



At end of year
(2,974)
-

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,974)
-


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 Ordinary share of £1
1
1



11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company  to the fund and amounted to £20,000 (2022 - £19,514).


12.


Related party transactions

No disclosure has been made of transactions with other wholly owned group companies in accordance
with FRS 102 Section 1A paragraph 1AC.35.

During the year, directors:

Received repayment of loans from the company of £1,075,196 (2022 - £107,520)
Charged interest at 5% plus Bank of Englands base rate per annum totalling £69,766 (2022 - £66,987).

At the year end, the balance outstanding to directors was £NIL (2022 - £1,075,196)

During the year, the directors received emoluments of £129,079 (2022 - £1,983,490).
 
8