Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 29 April 2024 1 January 2023 31 December 2023 31 December 2023 14035703 Mrs N K McLachlan District and County Investments Limited District and County Investments limited England & Wales true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14035703 2022-12-31 14035703 2023-12-31 14035703 2023-01-01 2023-12-31 14035703 frs-core:CurrentFinancialInstruments 2023-12-31 14035703 frs-core:Non-currentFinancialInstruments 2023-12-31 14035703 frs-core:ShareCapital 2023-12-31 14035703 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 14035703 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 14035703 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 14035703 frs-bus:SmallEntities 2023-01-01 2023-12-31 14035703 frs-bus:Audited 2023-01-01 2023-12-31 14035703 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 14035703 1 2023-01-01 2023-12-31 14035703 frs-bus:Director1 2023-01-01 2023-12-31 14035703 frs-bus:Director2 2023-01-01 2023-12-31 14035703 frs-core:CurrentFinancialInstruments 1 2023-12-31 14035703 frs-countries:EnglandWales 2023-01-01 2023-12-31 14035703 2021-12-31 14035703 2022-12-31 14035703 2022-01-01 2022-12-31 14035703 frs-core:CurrentFinancialInstruments 2022-12-31 14035703 frs-core:Non-currentFinancialInstruments 2022-12-31 14035703 frs-core:ShareCapital 2022-12-31 14035703 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 14035703 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 14035703
DCI 4 Limited
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 14035703
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 3,375,000 -
3,375,000 -
CURRENT ASSETS
Stocks 5 3,020,354 -
Debtors 6 29,246,005 100
32,266,359 100
Creditors: Amounts Falling Due Within One Year 7 (10,495,505 ) -
NET CURRENT ASSETS (LIABILITIES) 21,770,854 100
TOTAL ASSETS LESS CURRENT LIABILITIES 25,145,854 100
Creditors: Amounts Falling Due After More Than One Year 8 (25,655,431 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (50,902 ) -
NET (LIABILITIES)/ASSETS (560,479 ) 100
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (560,579 ) -
SHAREHOLDERS' FUNDS (560,479) 100
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs N K McLachlan
Director
29 April 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
DCI 4 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14035703 . The registered office is 42 Duke Street, Formby, Liverpool, Merseyside, L37 4AT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. Going Concern Disclosure
The directors believe with the support from the parent undertaking that the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Significant judgements and estimations
Significant judgements and estimations
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily available from other sources. The estimates and underyling assumptions are based on historical experience and other factors considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The significant judgements and key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.
Valuation of investment properties
As described in note 5, investment properties are stated at fair value based on the valuation performed by independent professional valuers based on recent experience in the location and category of property valued. The directors considered observable market prices adjusted as necessary for any difference in the future, location or condition of the specific asset. However, the Russia-Ukraine war and the Covid-19 pandemic has caused significant disruption and uncertainty in the UK property market which has inevitably increased the degree of judgement involved in the property valuation at 31 December 2023.
2.4. Turnover
The company's turnover, derived from ordinary activities and excluding VAT where applicable, comprises interest receivable and arrangement fee income in relation to bridging and development loans issued, measured at amortised costt and recognised as they become due.
Rental income receivable is recognised on an accruals basis.
2.5. Investment Properties
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.8. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Investment Property
2023
£
Fair Value
As at 1 January 2023 -
Additions 3,171,393
Revaluations 203,607
As at 31 December 2023 3,375,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 6,191,747 -
The investments properties have been independently valued by professional valuers on an open market basis during the accounting period. The directors consider the basis of valuation to accurately reflect the fair value of the properties as at the reporting date.
5. Stocks
2023 2022
£ £
Development Properties 3,020,354 -
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6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 2,879,556 -
Loans receivable < 1 year 12,174,450 -
Deposit Scheme 2,176 -
Called up share capital not paid - 100
Amounts owed by group undertakings 12,096,217 -
27,152,399 100
Due after more than one year
Loans receivable > 1 year 2,093,606 -
2,093,606 -
29,246,005 100
Loans receivable are made up of bridging and development loans and are secured against a charge on the asset to which the loan relates to.
Amounts owed from group undertakings are interest free and repayable on demand.
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 9,891,784 -
Accruals and deferred income 9,590 -
Directors' loan accounts 594,131 -
10,495,505 -
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other loans 25,655,431 -
25,655,431 -
The loan from MHD Investments Limited attracts interest at 0.75% above the Bank of England base rate repayable annually. The final repayment date is 60 months after the initial drawdown date. The loan is secured against the property and assets of the company by way of a fixed and floating charge.
9. Share Capital
2023 2022
£ £
Called Up Share Capital not Paid - 100
Called Up Share Capital has been paid up 100 -
Amount of Allotted, Called Up Share Capital 100 100
10. Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
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11. Related Party Transactions
The company has taken advantage of the exemption available under Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with the parent company as it is a wholly owned subsidiary within the group.
12. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
13. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is District and County Investments Limited. District and County Investments Limited was incorporated in England on 5th May 2004. The ultimate controlling party is District and County Investments Limited who control 100% of the shares of DCI 4 Limited.
14. Audit Information
The auditors report on the account of DCI 4 Limited for the year ended 31 December 2023 was unqualified
The auditor's report was signed by Mark Wrigglesworth (Senior Statutory Auditor) for and on behalf of ERC Accountants & Business Advisers Limited , Statutory Auditor
ERC Accountants & Business Advisers Limited
Hanover Buildings, 11 - 13 Hanover Street
Liverpool
L1 3DN
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