Caseware UK (AP4) 2023.0.135 2023.0.135 truefalse22023-01-01No description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03072593 2023-01-01 2023-12-31 03072593 2022-01-01 2022-12-31 03072593 2023-12-31 03072593 2022-12-31 03072593 2022-01-01 03072593 c:Director1 2023-01-01 2023-12-31 03072593 d:NegativeGoodwill 2023-12-31 03072593 d:NegativeGoodwill 2022-12-31 03072593 d:CurrentFinancialInstruments 2023-12-31 03072593 d:CurrentFinancialInstruments 2022-12-31 03072593 d:Non-currentFinancialInstruments 2023-12-31 03072593 d:Non-currentFinancialInstruments 2022-12-31 03072593 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03072593 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03072593 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03072593 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03072593 d:ShareCapital 2023-12-31 03072593 d:ShareCapital 2022-12-31 03072593 d:ShareCapital 2022-01-01 03072593 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 03072593 d:RetainedEarningsAccumulatedLosses 2023-12-31 03072593 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 03072593 d:RetainedEarningsAccumulatedLosses 2022-12-31 03072593 d:RetainedEarningsAccumulatedLosses 2022-01-01 03072593 c:FRS102 2023-01-01 2023-12-31 03072593 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03072593 c:FullAccounts 2023-01-01 2023-12-31 03072593 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03072593 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 03072593













Durham Gate Limited

Financial statements
Information for filing with the registrar

31 December 2023




 
Durham Gate Limited


Balance sheet
At 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
(1,756,744)
(1,756,744)

  
(1,756,744)
(1,756,744)

Current assets
  

Stocks
 5 
2,652,959
2,603,055

Debtors
 6 
749,568
159,138

Cash at bank and in hand
  
245,281
1,093,562

  
3,647,808
3,855,755

Creditors: amounts falling due within one year
 7 
(425,390)
(557,240)

Net current assets
  
 
 
3,222,418
 
 
3,298,515

Total assets less current liabilities
  
1,465,674
1,541,771

Creditors: amounts falling due after more than one year
 8 
(10,832)
(12,681)

  

Net assets
  
1,454,842
1,529,090


Capital and reserves
  

Called up share capital 
  
25
25

Profit and loss account
  
1,454,817
1,529,065

Shareholders' funds
  
1,454,842
1,529,090


1

 
Durham Gate Limited

    
Balance sheet (continued)
At 31 December 2023

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 comprehensive income 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 16 September 2024.




Allan Cook
Director

Registered number: 03072593
The notes on pages 4 to 6 form part of these financial statements. 

2

 
Durham Gate Limited
 

Statement of changes in equity
Year ended 31 December 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
25
465,470
465,495


Total comprehensive income for the year

Profit for the year
-
1,063,595
1,063,595



At 1 January 2023
25
1,529,065
1,529,090


Total comprehensive income for the year

Loss for the year
-
(30,248)
(30,248)

Dividends paid
-
(44,000)
(44,000)


At 31 December 2023
25
1,454,817
1,454,842


3

 
Durham Gate Limited
 
 

Notes to the financial statements
Year ended 31 December 2023

1.


General information

Durham Gate Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is given in the company information page of this annual report.

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdon and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The following principal accounting policies have been applied:

 
2.2

Turnover

Income from the sale of developments is recognised in the profit and loss accounts once a binding contract of sale exists. Income is recognised to the extent that the company has obtained the right to consideration through its performance.
Other income includes rent receivable from certain properties held in stock and development land.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of works done in the period, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion once the outcome can be forseen with reasonable certainty.

 
2.3

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.

 
2.4

Negative goodwill

Negative goodwill as a result of business combinations where the consideration is less than the fair value of the net identifiable assets of the joint venture acquired. The difference is recognised as negative goodwill and amortised based upon when the economic benefit is due to the company. 

 
2.5

Stocks and work in progress

Work in progress is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

4

 
Durham Gate Limited
 

 
Notes to the financial statements
Year ended 31 December 2023

2.Accounting policies (continued)

 
2.6

Financial instruments

The company only enters into basic financial instrument 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 related parties and investments in ordinary shares.

 
2.7

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.


3.


Employees

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


4.


Intangible assets




Negative goodwill

£





At 1 January 2023
(1,756,744)



At 31 December 2023

(1,756,744)






Net book value



At 31 December 2023
(1,756,744)



At 31 December 2022
(1,756,744)




5.


Stocks

2023
2022
£
£

Work in progress
2,652,959
2,603,055

2,652,959
2,603,055


At 31 December 2023 the directors consider the realisable value of work in progress to be £4,500,000.

5

 
Durham Gate Limited
 
 

Notes to the financial statements
Year ended 31 December 2023

6.


Debtors

2023
2022
£
£


Trade debtors
85,667
70,053

Other debtors
661,025
89,085

Prepayments and accrued income
2,876
-

749,568
159,138



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
1,705
1,664

Other loans
400,000
343,000

Trade creditors
6,320
11,162

Corporation tax
-
162,137

Other taxation and social security
252
-

Other creditors
-
18,190

Accruals and deferred income
17,113
21,087

425,390
557,240



8.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loans
10,832
12,681

10,832
12,681


Other loans are secured by a fixed charge on freehold land and properties included within work in progress as development land.


9.


Related party transactions

During the year under review the company loaned money to C3 Property Consulting LLP, an LLP in which A Cook, N Cook and J Cook have an interest. The balance outstanding as at 31 December 2023 was £427,075 (2022 - £40,000). The loan is interest free and there are no fixed terms of repayment agreed. 

 
6