Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29true2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-03-01falseInvestment company1true 02290128 2023-03-01 2024-02-29 02290128 2022-03-01 2023-02-28 02290128 2024-02-29 02290128 2023-02-28 02290128 c:Director1 2023-03-01 2024-02-29 02290128 c:RegisteredOffice 2023-03-01 2024-02-29 02290128 d:PlantMachinery 2023-03-01 2024-02-29 02290128 d:PlantMachinery 2024-02-29 02290128 d:PlantMachinery 2023-02-28 02290128 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 02290128 d:FurnitureFittings 2023-03-01 2024-02-29 02290128 d:FurnitureFittings 2024-02-29 02290128 d:FurnitureFittings 2023-02-28 02290128 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 02290128 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 02290128 d:FreeholdInvestmentProperty 2023-03-01 2024-02-29 02290128 d:FreeholdInvestmentProperty 2024-02-29 02290128 d:FreeholdInvestmentProperty 2023-02-28 02290128 d:CurrentFinancialInstruments 2024-02-29 02290128 d:CurrentFinancialInstruments 2023-02-28 02290128 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 02290128 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 02290128 d:ShareCapital 2024-02-29 02290128 d:ShareCapital 2023-02-28 02290128 d:RevaluationReserve 2023-03-01 2024-02-29 02290128 d:RevaluationReserve 2024-02-29 02290128 d:RevaluationReserve 2023-02-28 02290128 d:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 02290128 d:RetainedEarningsAccumulatedLosses 2024-02-29 02290128 d:RetainedEarningsAccumulatedLosses 2023-02-28 02290128 d:OtherDeferredTax 2024-02-29 02290128 d:OtherDeferredTax 2023-02-28 02290128 c:OrdinaryShareClass1 2023-03-01 2024-02-29 02290128 c:OrdinaryShareClass1 2024-02-29 02290128 c:OrdinaryShareClass1 2023-02-28 02290128 c:FRS102 2023-03-01 2024-02-29 02290128 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 02290128 c:FullAccounts 2023-03-01 2024-02-29 02290128 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 02290128 2 2023-03-01 2024-02-29 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 02290128












DASHBRIEF LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

 

DASHBRIEF LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 12

 

DASHBRIEF LIMITED
 
COMPANY INFORMATION


Director
L Ryder 




Registered number
02290128



Registered office
16 Great Queen Street
Covent Garden

London

WC2B 5AH




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:02290128
DASHBRIEF LIMITED

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
3,070
19

Investment property
 6 
954,694
2,220,000

  
957,764
2,220,019

Current assets
  

Debtors: amounts falling due within one year
 7 
172,088
3,142

Cash at bank and in hand
  
229
-

  
172,317
3,142

Creditors: amounts falling due within one year
 8 
(38,228)
(724,655)

Net current assets/(liabilities)
  
 
 
134,089
 
 
(721,513)

Total assets less current liabilities
  
1,091,853
1,498,506

Provisions for liabilities
  

Deferred tax
 9 
(197,183)
(394,367)

  
 
 
(197,183)
 
 
(394,367)

Net assets
  
894,670
1,104,139


Capital and reserves
  

Called up share capital 
 10 
100
100

Fair value reserve
 11 
591,549
1,183,099

Profit and loss account
 11 
303,021
(79,060)

Total equity
  
894,670
1,104,139

Page 2


 
REGISTERED NUMBER:02290128
DASHBRIEF LIMITED
    
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 profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue and were signed by: 




L Ryder
Director

Date: 28 November 2024

The notes on pages 4 to 12 form part of these financial statements.
Page 3

 

DASHBRIEF LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Dashbrief Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH. 
The financial statements are presented in Sterling (£). Monetary amounts have been rounded to the nearest £. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, she continues to adopt the going concern basis in preparing the financial statements.

 
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:

Turnover represents rents receivable from the company's investment properties and is recognised over the period each property is let.

 
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 4

 

DASHBRIEF LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. .

Depreciation is provided on the following basis:

Plant and machinery
-
25%
on straight-line basis
Fixtures and fittings
-
25%
on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.8

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

 
2.9

Investment property

Investment property is initially recognised at cost which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Fair value is determined annually by the drectors 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 the profit or loss. Deferred taxation is provided on the fair value gain at the rate expected to apply when the property is sold.

Page 5

 

DASHBRIEF LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
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

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

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 deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including other debtors and bank balances, are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including other creditors and bank loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Page 6

 

DASHBRIEF LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)





Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

  
2.12

Share capital

Ordinary shares are classified as equity.

Page 7

 

DASHBRIEF LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.13

Current and deferred tax

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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 arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
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.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

 
2.15

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.

Page 8

 

DASHBRIEF LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are 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 period if the revision affects both current and future periods.


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 2).


5.


Tangible fixed assets







Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost 


At 1 March 2023
-
13,130
13,130


Additions
3,135
-
3,135


Disposals
-
(13,130)
(13,130)



At 29 February 2024

3,135
-
3,135



Depreciation


At 1 March 2023
-
13,111
13,111


Charge for the year
65
5
70


Disposals
-
(13,116)
(13,116)



At 29 February 2024

65
-
65



Net book value



At 29 February 2024
3,070
-
3,070



At 28 February 2023
-
19
19

Page 9

 

DASHBRIEF LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Investment property





Freehold investment property

£



Valuation


At 1 March 2023
2,220,000


Disposals
(1,265,306)



At 29 February 2024
954,694

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





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

29 February
28 February
2024
2023
£
£


Historic cost
165,961
642,534


7.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
172,088
-

Accrued income
-
3,142

172,088
3,142


Page 10

 

DASHBRIEF LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Creditors: amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank overdrafts
-
2,385

Bank loan
-
225,000

Corporation tax
26,935
-

Other creditors
5,893
493,370

Accruals
5,400
3,900

38,228
724,655



9.


Deferred taxation






2024


£






At beginning of year
(394,367)


Charged to profit or loss
197,184



At end of year
(197,183)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Fair value movements on investment properties
(197,183)
(394,367)


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


Page 11

 

DASHBRIEF LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

11.


Reserves

Fair value reserve

The fair value reserve to the fair value increase of investment properties, net of deferred tax. The reserve is non-distributable.

Profit and loss account

The profit and loss account comprise distributable reserves.

12.


Related party transactions

Included within other debtors is an amount of £172,088 (2023: creditor £492,370) owed by a shareholder. Interest is payable on the loan at 2.25% p.a. amounted to £3,242. The maximum loan amount outstanding in the year was £362,033. Both the loan and interest have been repaid in full since the year end.

 
Page 12