Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312023-10-31The principal activities of the company in the year under review continued to be that of investment incommercial properties for letting and development and dealing in commercial property.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-11-01false22falsetruefalse 01109003 2022-11-01 2023-10-31 01109003 2021-11-01 2022-10-31 01109003 2023-10-31 01109003 2022-10-31 01109003 c:Director2 2022-11-01 2023-10-31 01109003 d:CurrentFinancialInstruments 2023-10-31 01109003 d:CurrentFinancialInstruments 2022-10-31 01109003 d:Non-currentFinancialInstruments 1 2023-10-31 01109003 d:Non-currentFinancialInstruments 1 2022-10-31 01109003 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 01109003 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 01109003 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 01109003 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 01109003 d:ShareCapital 2023-10-31 01109003 d:ShareCapital 2022-10-31 01109003 d:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 01109003 d:RetainedEarningsAccumulatedLosses 2023-10-31 01109003 d:RetainedEarningsAccumulatedLosses 2022-10-31 01109003 c:OrdinaryShareClass1 2022-11-01 2023-10-31 01109003 c:OrdinaryShareClass1 2023-10-31 01109003 c:OrdinaryShareClass1 2022-10-31 01109003 c:PreferenceShareClass1 2022-11-01 2023-10-31 01109003 c:PreferenceShareClass1 2023-10-31 01109003 c:PreferenceShareClass1 2022-10-31 01109003 c:FRS102 2022-11-01 2023-10-31 01109003 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 01109003 c:FullAccounts 2022-11-01 2023-10-31 01109003 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 01109003 2 2022-11-01 2023-10-31 01109003 f:PoundSterling 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01109003










DENCORA SECURITIES LIMITED

UNAUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 OCTOBER 2023
 






 



 






 
DENCORA SECURITIES LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2023

2023
2022
£
£

  

Turnover
  
3,770
459,953

Cost of sales
  
-
(171,958)

Gross profit
  
3,770
287,995

Administrative expenses
  
(1,773)
(113,599)

Other operating income
  
-
1,624,294

Operating profit
  
1,997
1,798,690

Interest receivable and similar income
  
-
536

Interest payable and similar expenses
  
(1,449)
-

Profit before tax
  
548
1,799,226

Tax on profit
  
-
(375,251)

Profit for the financial year
  
548
1,423,975

There were no recognised gains and losses for 2023 or 2022 other than those included in the statement of comprehensive income.

The notes on pages 4 to 8 form part of these financial statements.

Page 1

 
DENCORA SECURITIES LIMITED
REGISTERED NUMBER: 01109003

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
                                                                     Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
18,034,037
17,854,841

Cash at bank and in hand
  
241,433
271,860

  
18,275,470
18,126,701

Creditors: amounts falling due within one year
 5 
(14,063,846)
(12,525,625)

Net current assets
  
 
 
4,211,624
 
 
5,601,076

Total assets less current liabilities
  
4,211,624
5,601,076

Creditors: amounts falling due after more than one year
 6 
(73,000)
(73,000)

  

Net assets
  
4,138,624
5,528,076


Capital and reserves
  

Called up share capital 
 7 
5,000
5,000

Profit and loss account
 8 
4,133,624
5,523,076

Shareholders' funds
  
4,138,624
5,528,076


Page 2

 
DENCORA SECURITIES LIMITED
REGISTERED NUMBER: 01109003

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 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 financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


M J Rickards FRICS
Director

Date: 24 September 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
DENCORA SECURITIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Dencora Securities Limited is a private company, limited by shares, and incorporated in England and Wales, registered number 01109003. The registered office address is: Suite 1, Silwood Business Centre, Silwood Park, Buckhurst Road, Ascot, Berkshire, SL5 7PW.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

These financial statements are presented in sterling, which is the functional currency of the Company and rounded to the nearest £. 

The following principal accounting policies have been applied:

  
2.2

Compliance with accounting standards

The financial statements have been prepared using FRS102, the financial reporting standard applicable in the UK and Republic of Ireland, including the disclosure and presentation requirements of Section 1A, applicable to small companies. There were no material departures from that standard.

 
2.3

Going concern

The financial statements have been prepared on a going concern basis as the directors believe that the Company to meet will continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements. In doing so the directors have considered the Company's business model and availability of cash resources. The directors consider it approprite therefore to prepare the financial statements on a going concern basis.   

 
2.4

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:

Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Rental income and rent are recognised over the term of the lease.
Sales of investment properties are recognised on date of completion.

 
2.5

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.

Page 4

 
DENCORA SECURITIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

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 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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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 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.

Page 5

 
DENCORA SECURITIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

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.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

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.

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.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

Taxation

Tax is recognised in the statement of comprehensive income, 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.

Page 6

 
DENCORA SECURITIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

3.


Employees

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


4.


Debtors

2023
2022
£
£


Trade debtors
186,559
214,915

Amounts owed by group undertakings
17,812,966
17,601,268

Other debtors
34,512
-

Prepayments and accrued income
-
38,658

18,034,037
17,854,841



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
(29)
12,275

Amounts owed to group undertakings
14,063,672
12,357,122

Corporation tax
-
144,345

Other taxation and social security
-
8,963

Other creditors
203
204

Accruals and deferred income
-
2,716

14,063,846
12,525,625



6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Share capital treated as debt
73,000
73,000


Page 7

 
DENCORA SECURITIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

7.


Share capital

2023
2022
£
£
Shares classified as equity

Allotted, called up and fully paid



5,000 (2022 - 5,000) A Ordinary shares of £1.00 each
5,000
5,000

Shares classified as debt

Allotted, called up and fully paid



73,000 (2022 - 73,000) B Ordinary shares of £1.00 each
73,000
73,000



8.


Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses, net of dividends and all adjustments.


9.


Related party transactions

The Company has taken the exemption under Financial Reporting Standard 102 (FRS102) Section 33 paragraph 1A not to disclose transactions and balances with its parent and fellow subsidiary companies on the basis it is a wholly owned subsidiary.


10.


Parent company

Stockbourne Group Limited is the parent company. The registered office address and principal place of buisness is, Suite 1, Silwood Business, Centre Silwood, Park Buckhurst Road, Ascot,SL5 7PW.
The smallest and largest group of undertakings into which the results of the Company are consolidated is headed by Stockbourne Group Limited. The consolidated financial statements can be obtained from Companies House. 

Page 8