Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31false2023-02-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11130519 2023-02-01 2024-01-31 11130519 2022-02-01 2023-01-31 11130519 2024-01-31 11130519 2023-01-31 11130519 c:Director1 2023-02-01 2024-01-31 11130519 d:FreeholdInvestmentProperty 2024-01-31 11130519 d:FreeholdInvestmentProperty 2023-01-31 11130519 d:FreeholdInvestmentProperty 2 2023-02-01 2024-01-31 11130519 d:CurrentFinancialInstruments 2024-01-31 11130519 d:CurrentFinancialInstruments 2023-01-31 11130519 d:Non-currentFinancialInstruments 2024-01-31 11130519 d:Non-currentFinancialInstruments 2023-01-31 11130519 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 11130519 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 11130519 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 11130519 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 11130519 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 11130519 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 11130519 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 11130519 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 11130519 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-01-31 11130519 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-01-31 11130519 d:ShareCapital 2024-01-31 11130519 d:ShareCapital 2023-01-31 11130519 d:RetainedEarningsAccumulatedLosses 2024-01-31 11130519 d:RetainedEarningsAccumulatedLosses 2023-01-31 11130519 c:OrdinaryShareClass1 2023-02-01 2024-01-31 11130519 c:OrdinaryShareClass1 2024-01-31 11130519 c:OrdinaryShareClass1 2023-01-31 11130519 c:FRS102 2023-02-01 2024-01-31 11130519 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 11130519 c:FullAccounts 2023-02-01 2024-01-31 11130519 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11130519 d:TaxLossesCarry-forwardsDeferredTax 2024-01-31 11130519 d:TaxLossesCarry-forwardsDeferredTax 2023-01-31 11130519 d:OtherDeferredTax 2024-01-31 11130519 d:OtherDeferredTax 2023-01-31 11130519 f:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11130519









DHILLONAIRES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
DHILLONAIRES LIMITED
REGISTERED NUMBER: 11130519

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
385,000
364,800

  
385,000
364,800

Current assets
  

Debtors: amounts falling due within one year
 5 
31,211
18,015

Cash at bank and in hand
  
4,280
11,616

  
35,491
29,631

Creditors: amounts falling due within one year
 6 
(108,581)
(108,199)

Net current liabilities
  
 
 
(73,090)
 
 
(78,568)

Total assets less current liabilities
  
311,910
286,232

Creditors: amounts falling due after more than one year
 7 
(235,765)
(236,658)

Provisions for liabilities
  

Deferred tax
 9 
(14,057)
(9,400)

  
 
 
(14,057)
 
 
(9,400)

Net assets
  
62,088
40,174


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
61,988
40,074

  
62,088
40,174


Page 1

 
DHILLONAIRES LIMITED
REGISTERED NUMBER: 11130519
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers 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 director acknowledges his 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 income and retained earnings 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 21 October 2024.




R Dhillon
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
DHILLONAIRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 11130519.  The Company's registered office is Sterling House, 71 Francis Road, Edgbaston, Birmingham, B16 8SP.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

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.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts are prepared on the going concern basis.

 
2.3

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:

Rental of investment properties
Turnover from the rental of investment properties are recognised when all the following conditions
are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive consideration due for the period of rent;
- the period of rent can be measured reliably; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
DHILLONAIRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.9

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.

 
2.10

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.

Page 4

 
DHILLONAIRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 February 2023
364,800


Surplus on revaluation
20,200



At 31 January 2024
385,000


Comprising


Cost
325,331

Annual revaluation surplus/(deficit):


2022
25,000

2023
14,469

2024
20,200

At 31 January 2024
385,000

The 2024 valuations were made by the director, on an open market value for existing use basis.

During the current year deferred tax on the revaluation of the properties was recalculated accordingly to £14,058 (2023 - £10,220) as at the balance sheet date. The movement on deferred tax calculated in the year on the revaluation of the properties was £3,838 (2023 - £2,749).




Page 5

 
DHILLONAIRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Other debtors
30,259
17,019

Prepayments and accrued income
952
996

31,211
18,015



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
949
1,333

Corporation tax
483
-

Other creditors
106,249
106,086

Accruals and deferred income
900
780

108,581
108,199


Page 6

 
DHILLONAIRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
235,765
236,658

235,765
236,658


Details of security provided:
Bank loans of £227,914 (2023 - £227,936) are secured by a fixed charged over the freehold investment property held by the company.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2024
2023
£
£


Repayable by instalments
2,133
3,387

Repayable other than by instalments
227,914
227,936

230,047
231,323

The loan for £102,436 (2023 - £102,449) was taken out on 9 January 2019 for a term of 35 years.  The loan is interest only at a rate of 3.49% APR.
The loan for £125,477 (2023 - £125,485) was taken out on 12 August 2021 for a term of 25 years.  The loan is interest only at a rate of 3.39% APR.
The loan for £8,799 (2023 - £10,054) was a Bounce Back Loan taken out on 5 June 2020 for a term of 10 years.  The first 12 months are interest and repayment free and then interest is charged on the loan at 2.5% per annum.

Page 7

 
DHILLONAIRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Loans


2024
2023
£
£

Amounts falling due within one year

Bank loans
949
1,333


949
1,333

Amounts falling due 1-2 years

Bank loans
949
1,333


949
1,333

Amounts falling due 2-5 years

Bank loans
2,846
4,000


2,846
4,000

Amounts falling due after more than 5 years

Bank loans
231,971
231,323

231,971
231,323

236,715
237,989



9.


Deferred taxation




2024


£






At beginning of year
(9,400)


Charged to profit or loss
(4,658)



At end of year
(14,058)

Page 8

 
DHILLONAIRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Tax losses carried forward
-
819

Revaluation of investment property
(14,058)
(10,219)

(14,058)
(9,400)


10.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



11.


Related party transactions

 As at the balance sheet date amounts due to the director amounted to £106,250 (2023 - £106,087). 
During the year the company loaned a company under common control of the director £13,240 (2023 - £19). The balance of £30,259 (2023 - £17,019) remained outstanding at the balance sheet date.
Loans are interest free and repayable on demand.

Page 9