Caseware UK (AP4) 2023.0.135 2023.0.135 true2022-12-01false2No description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10649282 2022-12-01 2023-11-30 10649282 2021-12-01 2022-11-30 10649282 2023-11-30 10649282 2022-11-30 10649282 c:Director2 2022-12-01 2023-11-30 10649282 d:FreeholdInvestmentProperty 2023-11-30 10649282 d:FreeholdInvestmentProperty 2022-11-30 10649282 d:CurrentFinancialInstruments 2023-11-30 10649282 d:CurrentFinancialInstruments 2022-11-30 10649282 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 10649282 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 10649282 d:ShareCapital 2023-11-30 10649282 d:ShareCapital 2022-11-30 10649282 d:RetainedEarningsAccumulatedLosses 2023-11-30 10649282 d:RetainedEarningsAccumulatedLosses 2022-11-30 10649282 c:OrdinaryShareClass1 2022-12-01 2023-11-30 10649282 c:OrdinaryShareClass1 2023-11-30 10649282 c:OrdinaryShareClass1 2022-11-30 10649282 c:FRS102 2022-12-01 2023-11-30 10649282 c:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 10649282 c:FullAccounts 2022-12-01 2023-11-30 10649282 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 10649282 2 2022-12-01 2023-11-30 10649282 e:PoundSterling 2022-12-01 2023-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10649282










DP East Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 November 2023

 
DP East Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of DP East Limited for the year ended 30 November 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 DP East Limited for the year ended 30 November 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 DP East Limited, as a body, in accordance with the terms of our engagement letter dated 12 January 2023Our work has been undertaken solely to prepare for your approval the financial statements of DP East Limited and state those matters that we have agreed to state to the board of directors of DP East 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 DP East Limited and its board of directors, as a body, for our work or for this report. 

It is your duty to ensure that DP East 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 loss of DP East Limited. You consider that DP East 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 DP East 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.

  



Kreston Reeves LLP
 
Chartered Accountants
  
Canterbury
29 August 2024
Page 1

 
DP East Limited
Registered number: 10649282

Balance sheet
As at 30 November 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
840,569
840,569

Current assets
  

Debtors: amounts falling due within one year
  
9,756
5,755

Cash at bank and in hand
  
5,111
349

  
14,867
6,104

Creditors: Amounts Falling Due Within One Year
 6 
(1,215,534)
(1,118,052)

Net current liabilities
  
 
 
(1,200,667)
 
 
(1,111,948)

  

Net liabilities
  
(360,098)
(271,379)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(360,198)
(271,479)

  
(360,098)
(271,379)


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 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 by: 




M Schreiber
Director

Date: 29 August 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
DP East Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

1.


General information

DP East Limited is a private company limited by shares and incorporated in England with the registration number 10649282. The registered office is 147 Stamford Hill, London, United Kingdom, N16 5LG.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The financial statements are presented in pounds sterling and are rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has net current liabilities at the reporting date of £1,200,265 (2022: £1,111,948), principally due to amounts due to related Discovery Park Group companies. 
In order to meet its day to day working capital requirements the company will continue to rely upon support provided by Discovery Park Group, as and when the need arises. After making enquiries of those companies, the directors believe that the company will continue to have adequate resources to meet its financial obligations as they fall due for at least 12 months from the date of approval of these financial statements.

 
2.3

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

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

Page 3

 
DP East Limited
 

 
Notes to the financial statements
For the year ended 30 November 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.

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.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers 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 4

 
DP East Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Page 5

 
DP East Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.


3.


Employees




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

Page 6

 
DP East Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 December 2022
840,569



At 30 November 2023
840,569

The company's freehold investment property valuations were made by the directors, on a fair value basis, at the reporting date. 








5.


Debtors

2023
2022
£
£


Other debtors
9,655
5,655

Called up share capital not paid
100
100

9,755
5,755



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
8,813
3,341

Other creditors
1,204,596
1,112,786

Accruals and deferred income
2,125
1,925

1,215,534
1,118,052



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


Page 7

 
DP East Limited
 

 
Notes to the financial statements
For the year ended 30 November 2023

8.


Contingent liabilities

The company pays business rates on its unoccupied commercial space that is broadly available to be let.   The company is disputing various business rates demands issued by the local district council to the company on commercial space where lease arrangements are in place.  The company considers it is not liable for the associated business rates liability and the dispute is being handled by the company’s solicitors.
The amount of the business rate demands in the above dispute for period ended 30 November 2023 total £144,656 and demands are also issued post this period.   No provision has been recorded for this amount on the basis that the company considers that no liability should arise and remains uncertain.


9.


Related party transactions

All related party transactions during the current and prior periods, including key management personnel compensation, were made under normal market conditions.


10.


Controlling party

The ultimate controlling party is Mr J Schreiber by virtue of his 100% shareholding.


Page 8