Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-291true2023-03-01truefalsefalseNo description of principal activity1The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11202257 2023-03-01 2024-02-29 11202257 2022-03-01 2023-02-28 11202257 2024-02-29 11202257 2023-02-28 11202257 c:Director1 2023-03-01 2024-02-29 11202257 d:FreeholdInvestmentProperty 2024-02-29 11202257 d:FreeholdInvestmentProperty 2023-02-28 11202257 d:FreeholdInvestmentProperty 2 2023-03-01 2024-02-29 11202257 d:CurrentFinancialInstruments 2024-02-29 11202257 d:CurrentFinancialInstruments 2023-02-28 11202257 d:Non-currentFinancialInstruments 2024-02-29 11202257 d:Non-currentFinancialInstruments 2023-02-28 11202257 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 11202257 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11202257 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 11202257 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 11202257 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 11202257 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 11202257 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 11202257 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 11202257 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-02-29 11202257 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 11202257 d:ShareCapital 2024-02-29 11202257 d:ShareCapital 2023-02-28 11202257 d:RetainedEarningsAccumulatedLosses 2024-02-29 11202257 d:RetainedEarningsAccumulatedLosses 2023-02-28 11202257 c:OrdinaryShareClass1 2023-03-01 2024-02-29 11202257 c:OrdinaryShareClass1 2024-02-29 11202257 c:OrdinaryShareClass1 2023-02-28 11202257 c:FRS102 2023-03-01 2024-02-29 11202257 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11202257 c:FullAccounts 2023-03-01 2024-02-29 11202257 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11202257 2 2023-03-01 2024-02-29 11202257 d:OtherDeferredTax 2024-02-29 11202257 d:OtherDeferredTax 2023-02-28 11202257 f:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11202257









DCP PROPERTY (BIRMINGHAM) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
DCP PROPERTY (BIRMINGHAM) LIMITED
REGISTERED NUMBER: 11202257

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
734,760
727,760

  
734,760
727,760

Current assets
  

Debtors: amounts falling due within one year
 5 
4,377
5,336

Cash at bank and in hand
  
15,010
22,167

  
19,387
27,503

Creditors: amounts falling due within one year
 6 
(338,676)
(327,014)

Net current liabilities
  
 
 
(319,289)
 
 
(299,511)

Total assets less current liabilities
  
415,471
428,249

Creditors: amounts falling due after more than one year
 7 
(351,580)
(390,543)

Provisions for liabilities
  

Deferred tax
  
(8,588)
(5,764)

  
 
 
(8,588)
 
 
(5,764)

Net assets
  
55,303
31,942


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
55,203
31,842

  
55,303
31,942


Page 1

 
DCP PROPERTY (BIRMINGHAM) LIMITED
REGISTERED NUMBER: 11202257
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 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 28 November 2024.




Dr P Jain
Director

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

Page 2

 
DCP PROPERTY (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 11202257.  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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts are prepared on a 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:

Rent receiveable
Turnover from the rent receivable from investment properties is 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 occupation;
-   the period of occupation can be measured reliably; and 
-   the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

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

 
2.5

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.

 
2.6

Borrowing costs

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

Page 3

 
DCP PROPERTY (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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

 
DCP PROPERTY (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.12

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 March 2023
727,760


Surplus on revaluation
7,000



At 29 February 2024
734,760

During the current year deferred tax on the revaluation of the properties was calculated accordingly as £2,824 (2023 - £5,764) on the movement in the revaluation and due to the change in tax rates. Total deferred tax in relation to revaluations at 29 February 2024 was £8,588 (2023 - £5,764).

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





Page 5

 
DCP PROPERTY (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
3,952
5,012

Called up share capital not paid
100
100

Prepayments and accrued income
325
224

4,377
5,336



6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
12,376
6,716

Corporation tax
5,150
1,255

Other creditors
318,993
317,005

Accruals and deferred income
2,157
2,038

338,676
327,014


Page 6

 
DCP PROPERTY (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
351,580
390,543

351,580
390,543


The following liabilities were secured:

29 February
28 February
2024
2023
£
£



Bank Loans
363,954
397,259

363,954
397,259

Details of security provided:

Bank loans are secured by a fixed charge over the investment property to which the mortgage relates.

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

29 February
28 February
2024
2023
£
£


Repayable by instalments
302,077
180,305

Repayable other than by instalments
-
183,375

302,077
363,680

An interest only loan was taken out in August 2018 for a period of 25 years  In September 2023 this was changed to a repayment mortgage.  In April 2020 an additional loan was taken out that is being repaid in instalments over 25 years.

Page 7

 
DCP PROPERTY (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
12,376
6,716


12,376
6,716

Amounts falling due 1-2 years

Bank loans
12,376
6,716


12,376
6,716

Amounts falling due 2-5 years

Bank loans
37,127
20,148


37,127
20,148

Amounts falling due after more than 5 years

Bank loans
302,077
363,680

302,077
363,680

363,956
397,260



9.


Deferred taxation






2024


£






At beginning of year
(5,764)


Charged to profit or loss
(2,824)



At end of year
(8,588)

Page 8

 
DCP PROPERTY (BIRMINGHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Revaluation of investment properties
(8,588)
(5,764)

(8,588)
(5,764)


10.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



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



11.


Related party transactions

During the year the company retained a loan from a company in which the director is a significant shareholder.  Interest of £3,115 (2023 - £3,084) has been charged on this loan.  The balance outstanding as at 28 February 2024 was £314,609 (2023 - £311,494).
Amounts due to the director to the company as at 28 February 2024 was £432 (2023 - £1 due from the director).  This loan is interest free and repayable on demand.

 
Page 9