Silverfin false false 31/03/2024 01/04/2023 31/03/2024 R Bishop 24/12/2019 D Kyte 24/12/2019 M Kyte 24/12/2019 16 September 2024 The principal activity of the company during the financial year was that of property development. 12377115 2024-03-31 12377115 bus:Director1 2024-03-31 12377115 bus:Director2 2024-03-31 12377115 bus:Director3 2024-03-31 12377115 core:CurrentFinancialInstruments 2024-03-31 12377115 core:CurrentFinancialInstruments 2023-03-31 12377115 2023-03-31 12377115 core:ShareCapital 2024-03-31 12377115 core:ShareCapital 2023-03-31 12377115 core:RetainedEarningsAccumulatedLosses 2024-03-31 12377115 core:RetainedEarningsAccumulatedLosses 2023-03-31 12377115 bus:OrdinaryShareClass1 2024-03-31 12377115 2023-04-01 2024-03-31 12377115 bus:FilletedAccounts 2023-04-01 2024-03-31 12377115 bus:SmallEntities 2023-04-01 2024-03-31 12377115 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12377115 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12377115 bus:Director1 2023-04-01 2024-03-31 12377115 bus:Director2 2023-04-01 2024-03-31 12377115 bus:Director3 2023-04-01 2024-03-31 12377115 2022-04-01 2023-03-31 12377115 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 12377115 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 12377115 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12377115 (England and Wales)

DUKESMEAD CARE 1 LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

DUKESMEAD CARE 1 LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

DUKESMEAD CARE 1 LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
DUKESMEAD CARE 1 LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
2024 2023
£ £
Current assets
Debtors 3 936,892 131,607
Cash at bank and in hand 234,478 1,475,290
1,171,370 1,606,897
Creditors: amounts falling due within one year 4 ( 21,880) ( 285,022)
Net current assets 1,149,490 1,321,875
Total assets less current liabilities 1,149,490 1,321,875
Net assets 1,149,490 1,321,875
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account 1,149,390 1,321,775
Total shareholder's funds 1,149,490 1,321,875

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Dukesmead Care 1 Limited (registered number: 12377115) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D Kyte
Director

16 September 2024

DUKESMEAD CARE 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
DUKESMEAD CARE 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dukesmead Care 1 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £ 1.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and 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, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 3 3

3. Debtors

2024 2023
£ £
Amounts owed by group undertakings 35,550 131,607
Other debtors 901,342 0
936,892 131,607

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

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 600 0
Amounts owed to group undertakings 8,515 0
Amounts owed to directors 0 3,400
Accruals 1,500 1,499
Taxation and social security 11,265 280,123
21,880 285,022

Amounts owed to group undertakings are repayable on demand and do not bear interest.

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

6. Related party transactions

Other related party transactions

Where possible, the company has taken advantage of the exemption conferred by FRS 102 section 33.1A from the requirement to disclose transactions with other wholly owned group undertakings.

7. Ultimate controlling party

Parent Company:

Dukesmead Property Group Ltd.
35 Ballards Lane, London, United Kingdom, N3 1XW