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REGISTERED NUMBER: 14019068 (England and Wales)











DOWNING SUSTAINABLE INVESTMENT I LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023






DOWNING SUSTAINABLE INVESTMENT I LIMITED (REGISTERED NUMBER: 14019068)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


DOWNING SUSTAINABLE INVESTMENT I LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: M Shah
T S Williams





REGISTERED OFFICE: 6th Floor St Magnus House
3 Lower Thames Street
London
EC3R 6HD





REGISTERED NUMBER: 14019068 (England and Wales)





AUDITORS: Berringers LLP
Chartered Accountants
and Statutory Auditors
Lygon House
50 London Road
Bromley
Kent
BR1 3RA

DOWNING SUSTAINABLE INVESTMENT I LIMITED (REGISTERED NUMBER: 14019068)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,621,621 9,185,939

CURRENT ASSETS
Debtors 5 33,579,000 43,396
Cash at bank 90,899 33,284
33,669,899 76,680
CREDITORS
Amounts falling due within one year 6 191,528 14,649
NET CURRENT ASSETS 33,478,371 62,031
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,099,992

9,247,970

CAPITAL AND RESERVES
Called up share capital 7 36,883,370 10,136,000
Retained earnings 8 (1,783,378 ) (888,030 )
SHAREHOLDERS' FUNDS 35,099,992 9,247,970

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





M Shah - Director


DOWNING SUSTAINABLE INVESTMENT I LIMITED (REGISTERED NUMBER: 14019068)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Downing Sustainable Investment I Limited is a private company, limited by shares, registered in England and
Wales. The company's registered number and registered office address can be found on the Company
Information page.

The functional and presentational currency of the Company and financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The directors have reviewed the performance of the Company during the year as set out in these accounts and, after taking account of possible changes that can reasonably be envisaged in trading performance, have considered the cash flow forecasts and future liquidity requirements of the Company.

Having regard to the above and after making enquiries the directors have a reasonable expectation that the Company has adequate resources, and support from the group, to continue in operational existence for at least 12 months from the date of signing the accounts. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Preparation of consolidated financial statements
The financial statements contain information about Downing Sustainable Investment I Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Human Capability Foundation, Silverdale Industrial Estate, Silverdale Road, Hayes, London, United Kingdom, UB3 3BL.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.


DOWNING SUSTAINABLE INVESTMENT I LIMITED (REGISTERED NUMBER: 14019068)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Investments
The valuation is deemed to be at cost and is measured subsequently at fair value. Fair value movements in the valuation of an investment are taken to the profit and loss account and recognised in the Statement of Income and Retained Earnings. Any unrealised gains or subsequent losses up to the value of those gains previously recognised at the Balance Sheet date are transferred to the revaluation reserve in the Statement of Changes in Equity.

Cash and cash equivalents
Cash is represented by deposits with financial intuitions repayable without penalty on notice of 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.

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.

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.

Revenue recognition
Dividend income is recognised when the right to receive payment is established.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

DOWNING SUSTAINABLE INVESTMENT I LIMITED (REGISTERED NUMBER: 14019068)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

4. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 - 9,185,939 9,185,939
Additions 1 - 1
Disposals - (7,167,923 ) (7,167,923 )
Revaluations - (396,396 ) (396,396 )
At 31 December 2023 1 1,621,620 1,621,621
NET BOOK VALUE
At 31 December 2023 1 1,621,620 1,621,621
At 31 December 2022 - 9,185,939 9,185,939

Cost or valuation at 31 December 2023 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2023 - (396,396 ) (396,396 )
Valuation in 2022 - 18,018 18,018
Cost 1 1,999,998 1,999,999
1 1,621,620 1,621,621

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 33,530,414 -
Other debtors 48,586 43,396
33,579,000 43,396

Balances with group undertakings are repayable on demand and no interest is charged on outstanding balances.

Amounts owed by group undertakings includes £10,313,111 owed by the ultimate parent, relating to unpaid share capital.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 191,528 14,649

DOWNING SUSTAINABLE INVESTMENT I LIMITED (REGISTERED NUMBER: 14019068)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
36,883,370 Share capital 1 £1 36,883,370 10,136,000

8. RESERVES
Retained
earnings
£   

At 1 January 2023 (888,030 )
Deficit for the year (895,348 )
At 31 December 2023 (1,783,378 )

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

Paul Allan BSocSc FCA (Senior Statutory Auditor)
for and on behalf of Berringers LLP

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The Company's ultimate parent and controlling entity is Human Capability Foundation, a company incorporated in England and Wales. The financial statements of Human Capability Foundation, can be obtained from the Company's registered office: Natco Cash & Carry Silverdale Industrial Estate, Silverdale Road, Hayes, London, United Kingdom, UB3 3BL.