Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3132023-01-01falseNo description of principal activity3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13665362 2023-01-01 2023-12-31 13665362 2021-10-06 2022-12-31 13665362 2023-12-31 13665362 2022-12-31 13665362 2021-10-06 13665362 c:Director3 2023-01-01 2023-12-31 13665362 d:FreeholdInvestmentProperty 2023-12-31 13665362 d:FreeholdInvestmentProperty 2022-12-31 13665362 d:FreeholdInvestmentProperty 2 2023-01-01 2023-12-31 13665362 d:CurrentFinancialInstruments 2023-12-31 13665362 d:CurrentFinancialInstruments 2022-12-31 13665362 d:Non-currentFinancialInstruments 2023-12-31 13665362 d:Non-currentFinancialInstruments 2022-12-31 13665362 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13665362 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13665362 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 13665362 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 13665362 d:ShareCapital 2023-12-31 13665362 d:ShareCapital 2021-10-06 2022-12-31 13665362 d:ShareCapital 2022-12-31 13665362 d:ShareCapital 2021-10-06 13665362 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 13665362 d:RetainedEarningsAccumulatedLosses 2023-12-31 13665362 d:RetainedEarningsAccumulatedLosses 2021-10-06 2022-12-31 13665362 d:RetainedEarningsAccumulatedLosses 2022-12-31 13665362 d:RetainedEarningsAccumulatedLosses 2021-10-06 13665362 c:OrdinaryShareClass1 2023-01-01 2023-12-31 13665362 c:OrdinaryShareClass1 2023-12-31 13665362 c:OrdinaryShareClass1 2022-12-31 13665362 c:FRS102 2023-01-01 2023-12-31 13665362 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13665362 c:FullAccounts 2023-01-01 2023-12-31 13665362 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13665362 2 2023-01-01 2023-12-31 13665362 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13665362









DORSEL U.K. 3 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
DORSEL U.K. 3 LIMITED
REGISTERED NUMBER: 13665362

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
7,613,512
8,371,000

Current assets
  

Debtors: amounts falling due within one year
 5 
804,649
953,090

Cash at bank and in hand
 6 
273,430
102,866

  
1,078,079
1,055,956

Creditors: amounts falling due within one year
 7 
(811,392)
(748,232)

Net current assets
  
266,687
307,724

Total assets less current liabilities
  
7,880,199
8,678,724

Creditors: amounts falling due after more than one year
 8 
(8,588,321)
(8,802,898)

  

Net liabilities
  
(708,122)
(124,174)


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
(708,222)
(124,274)

  
(708,122)
(124,174)


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 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 4 September 2024.


................................................
Lior Som
Director

The notes on pages 4 to 9 form part of these financial statements.
Page 1

 
DORSEL U.K. 3 LIMITED
REGISTERED NUMBER: 13665362
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023


Page 2

 
DORSEL U.K. 3 LIMITED
 

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


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 October 2021
-
-
-


Comprehensive income for the period

Loss for the period
-
(124,274)
(124,274)

Shares issued during the period
100
-
100



At 1 January 2023
100
(124,274)
(124,174)


Comprehensive income for the year

Loss for the year
-
(583,948)
(583,948)


At 31 December 2023
100
(708,222)
(708,122)


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
DORSEL U.K. 3 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Dorsel U.K. 3 Limited is a private company limited by share capital, incorporated in England and Wales,  registration number 13665362. The address of the registered office is Wisteria Grange Barn, Pikes End, Pinner, Middlesex, United Kingdom, HA5 2EX.

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

The financial statements have been prepared on a going concern basis as the director believes adequate resources exist to enable it to meet its working capital requirements for at least twelve months from 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.

 
2.5

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

 
DORSEL U.K. 3 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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,
Page 5

 
DORSEL U.K. 3 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

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.

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.

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 6

 
DORSEL U.K. 3 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Investment property


Investment property

£



Valuation


At 1 January 2023
8,371,000


Impairment
(757,488)



At 31 December 2023
7,613,512

The directors reviewed the value of the property at year end, and believe the property should be valued at £7,613,512 (2022: £8,371,000).








5.


Debtors

2023
2022
£
£


Other debtors
704,551
822,963

Prepayments and accrued income
100,098
130,127

804,649
953,090



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
273,430
102,866

273,430
102,866


Page 7

 
DORSEL U.K. 3 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
108
103

Amounts owed to group undertakings
435,441
670,531

Other taxation and social security
45,087
-

Accruals and deferred income
330,756
77,598

811,392
748,232


Amounts owed to group undertakings are unsecured, have no fixed date of repayment and are repayable on demand.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
6,300,000
6,300,000

Amounts owed to group undertakings
2,288,321
2,502,898

8,588,321
8,802,898


The loan has an interest of SONIA+2.5% and is secured by the company's assets with fixed repayment dates.
Amounts owed to group undertakings are unsecured, have no fixed date of repayment.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



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




Page 8

 
DORSEL U.K. 3 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Related party transactions

Included in creditors owed to group undertakings due within one year, are amounts £226,387 (2022: £226,387) owed to Dorsel U.K. Limited, £100,000 owed to Dorsel U.K 1 Limited £100,000 (2022: £100,000) owed to Dorsel U.K. 2 Limited, £9,054 (2022: £8,837) owed to Dorsel U.K. 4 Limited. The directors of these companies are also the directors of Dorsel U.K. 3 Limited.
 
Also included in creditors owed to group undertakings due within one year, is an amount of £nil (2022: £235,307) and in creditors owed to group undertakings due more than one year, is an amount of £2,288,321 (2022: £2,502,898) owed to Dorsel B.A.Z. Limited. The directors of this company are also the director of Dorsel U.K. 3 Limited.
Amounts owed to group undertakings are unsecured, have no fixed date of repayment and are repayable on demand.

 
Page 9