Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01truefalseThe principal activity of the company continued to be that of holding investments in property trading entitiestrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10404691 2023-04-01 2024-03-31 10404691 2024-03-31 10404691 2023-03-31 10404691 c:Director1 2023-04-01 2024-03-31 10404691 d:MotorVehicles 2023-04-01 2024-03-31 10404691 d:MotorVehicles 2024-03-31 10404691 d:MotorVehicles 2023-03-31 10404691 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10404691 d:CurrentFinancialInstruments 2024-03-31 10404691 d:CurrentFinancialInstruments 2023-03-31 10404691 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10404691 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10404691 d:ShareCapital 2024-03-31 10404691 d:ShareCapital 2023-03-31 10404691 d:RetainedEarningsAccumulatedLosses 2024-03-31 10404691 d:RetainedEarningsAccumulatedLosses 2023-03-31 10404691 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10404691 c:OrdinaryShareClass1 2024-03-31 10404691 c:OrdinaryShareClass1 2023-03-31 10404691 c:FRS102 2023-04-01 2024-03-31 10404691 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10404691 c:FullAccounts 2023-04-01 2024-03-31 10404691 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10404691 2 2023-04-01 2024-03-31 10404691 6 2023-04-01 2024-03-31 10404691 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 10404691 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 10404691 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 10404691 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 10404691














DR 122 LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
DR 122 LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 8


 
DR 122 LIMITED
REGISTERED NUMBER:10404691

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
27,771

Investments
 5 
88
152

  
88
27,923

Current assets
  

Debtors: amounts falling due within one year
 6 
4,334,139
4,976,864

Current asset investments
 7 
2,880,210
2,342,652

Cash at bank and in hand
 8 
4,013
15,447

  
7,218,362
7,334,963

Creditors: amounts falling due within one year
 9 
(4,660,014)
(5,298,894)

Net current assets
  
 
 
2,558,348
 
 
2,036,069

Total assets less current liabilities
  
2,558,436
2,063,992

Provisions for liabilities
  

Deferred tax
 10 
-
(6,702)

  
 
 
-
 
 
(6,702)

Net assets
  
2,558,436
2,057,290


Capital and reserves
  

Called up share capital 
 11 
2
2

Profit and loss account
  
2,558,434
2,057,288

  
2,558,436
2,057,290


1

 
DR 122 LIMITED
REGISTERED NUMBER:10404691
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 by the board and were signed on its behalf on 8 January 2025.




D Rosenberg
Director

The notes on pages 3 to 8 form part of these financial statements.

2

 
DR 122 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

DR 122 Limited is a private company, limited by shares, registered in England and Wales, registration number 10404691. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London W1W 8BE and the trading address is 17 Grosvenor Hill, Mayfair, London, W1K 3QB.
The principal activity of the company continued to be that of holding investments in property trading entities.
 

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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency
The company's functional and presentational currency is pound sterling.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. 
At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date ofthe transaction and non-monetary items

 
2.3

Interest income

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

 
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.

 
2.5

Current and deferred taxation

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.

The current corporation 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.

3

 
DR 122 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%

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 the Profit and loss account.

 
2.7

Valuation of investments

Investments are measured at cost less accumulated impairment.

 
2.8

 Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.9

 Debtors

Short term debtors are measured at transaction price, 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.

 
2.11

 Creditors

Short term creditors are measured at the transaction price.

 
2.12

 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.

4

 
DR 122 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

 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 to and from related parties.


3.


Employees

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


4.


Tangible fixed assets





Motor vehicles

£



Cost or valuation


At 1 April 2023
111,084



At 31 March 2024

111,084



Depreciation


At 1 April 2023
83,313


Charge for the year on owned assets
27,771



At 31 March 2024

111,084



Net book value



At 31 March 2024
-



At 31 March 2023
27,771

5

 
DR 122 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Investments in associates
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 April 2023
1
151
152


Additions
-
65
65


Disposals
-
(129)
(129)



At 31 March 2024
1
87
88




The company has a fixed charge regarding its shareholding in the unlisted investment.


6.


Debtors

2024
2023
£
£


Amounts owed by joint ventures and associated undertakings
696,530
696,530

Other debtors
3,634,712
4,279,808

Prepayments
-
526

Deferred taxation
2,897
-

4,334,139
4,976,864



7.


Current asset investments

2024
2023
£
£

Listed investments
2,880,210
2,342,652


2024
2023
£
£


Opening fair value
2,342,652
2,513,943

Purchases
166,586
174,941

Sales
(169,306)
(423,242)

Gains on remeasurement to fair value
540,278
77,010

Market value
2,880,210
2,342,652




6

 
DR 122 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
4,013
15,447



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
4,651,146
5,278,954

Accruals
8,868
19,940

4,660,014
5,298,894



10.


Deferred taxation




2024


£






At beginning of year
6,702


Charged to profit or loss
9,599



At end of year
(2,897)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
6,943

Tax losses carried forward
2,897
241

(2,897)
6,702


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 -2) Ordinary shares of £1.00 each
2
2

7

 
DR 122 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Related party transactions

Included in other creditors is an amount owed to the director totalling £2,280,626 (2023 - £2,907,984). This is an interest free loan and repayable on demand.
Included in other creditors are amounts due to various entities in which the director has an interest in totalling £2,365,257 (2023 - £2,365,707). This is an interest free loan and repayable on demand.
Included in debtors are amounts due from various entities in which the company holds an interest in totalling £2,839,813 (2023 - £2,842,397) and in which the director has an interest totalling £1,491,429 (2023 - £2,132,929). These are interest free loans and repayable on demand.

 
8