Silverfin false false 31/03/2024 01/04/2023 31/03/2024 P A Silver 20/02/2002 25 April 2025 The principal activity of the company continued to be that of property consultants, property trading and developers. 04378034 2024-03-31 04378034 bus:Director1 2024-03-31 04378034 2023-03-31 04378034 core:CurrentFinancialInstruments 2024-03-31 04378034 core:CurrentFinancialInstruments 2023-03-31 04378034 core:Non-currentFinancialInstruments 2024-03-31 04378034 core:Non-currentFinancialInstruments 2023-03-31 04378034 core:ShareCapital 2024-03-31 04378034 core:ShareCapital 2023-03-31 04378034 core:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 04378034 core:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 04378034 core:RetainedEarningsAccumulatedLosses 2024-03-31 04378034 core:RetainedEarningsAccumulatedLosses 2023-03-31 04378034 core:ComputerEquipment 2023-03-31 04378034 core:ComputerEquipment 2024-03-31 04378034 core:CostValuation 2023-03-31 04378034 core:CostValuation 2024-03-31 04378034 core:ProvisionsForImpairmentInvestments 2023-03-31 04378034 core:ProvisionsForImpairmentInvestments 2024-03-31 04378034 core:ListedExchangeTraded core:WithinOneYear 2024-03-31 04378034 core:ListedExchangeTraded core:WithinOneYear 2023-03-31 04378034 bus:OrdinaryShareClass1 2024-03-31 04378034 2023-04-01 2024-03-31 04378034 bus:FilletedAccounts 2023-04-01 2024-03-31 04378034 bus:SmallEntities 2023-04-01 2024-03-31 04378034 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04378034 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04378034 bus:Director1 2023-04-01 2024-03-31 04378034 core:ComputerEquipment core:TopRangeValue 2023-04-01 2024-03-31 04378034 2022-04-01 2023-03-31 04378034 core:ComputerEquipment 2023-04-01 2024-03-31 04378034 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 04378034 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 04378034 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 04378034 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04378034 (England and Wales)

DORCHESTER RESIDENTIAL MANAGEMENT LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

DORCHESTER RESIDENTIAL MANAGEMENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

DORCHESTER RESIDENTIAL MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
DORCHESTER RESIDENTIAL MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,554 0
Investments 4 150 150
1,704 150
Current assets
Stocks 2,533,166 1,402,774
Debtors 5 3,580,083 1,904,854
Investments 6 8,203,220 7,336,171
Cash at bank and in hand 1,043,080 3,302,408
15,359,549 13,946,207
Creditors: amounts falling due within one year 7 ( 9,358,271) ( 8,658,261)
Net current assets 6,001,278 5,287,946
Total assets less current liabilities 6,002,982 5,288,096
Creditors: amounts falling due after more than one year 8 ( 16,430) ( 25,901)
Net assets 5,986,552 5,262,195
Capital and reserves
Called-up share capital 9 1 1
Undistributable reserve 489,096 0
Profit and loss account 5,497,455 5,262,194
Total shareholder's funds 5,986,552 5,262,195

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Dorchester Residential Management Limited (registered number: 04378034) were approved and authorised for issue by the Director. They were signed on its behalf by:

P A Silver
Director

25 April 2025

DORCHESTER RESIDENTIAL MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
DORCHESTER RESIDENTIAL MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dorchester Residential Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

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

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase and includes labour and attributable overheads.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

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) 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
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Investments
Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 April 2023 0 0
Additions 1,695 1,695
At 31 March 2024 1,695 1,695
Accumulated depreciation
At 01 April 2023 0 0
Charge for the financial year 141 141
At 31 March 2024 141 141
Net book value
At 31 March 2024 1,554 1,554
At 31 March 2023 0 0

4. Fixed asset investments

Investments in associates Total
£ £
Cost or valuation before impairment
At 01 April 2023 150 150
At 31 March 2024 150 150
Provisions for impairment
At 01 April 2023 150 150
At 31 March 2024 150 150
Carrying value at 31 March 2024 0 0
Carrying value at 31 March 2023 0 0

5. Debtors

2024 2023
£ £
Trade debtors 1,560 35,574
Prepayments and accrued income 390,743 397,145
VAT recoverable 20,346 0
Other debtors 3,167,434 1,472,135
3,580,083 1,904,854

6. Current asset investments

2024 2023
£ £
Listed investments – at fair value 8,203,220 7,336,171

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 1,010,373 10,648
Trade creditors 118,206 53,485
Amounts owed to joint ventures 150 150
Amounts owed to director 0 507,121
Accruals 216,522 279,106
Other taxation and social security 0 10,086
Other creditors 8,013,020 7,797,665
9,358,271 8,658,261

Bank loans of £1,000,217 (2023: £Nil) are secured against the Barclays investment portfolio.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 16,430 25,901

Bank loans of £16,430 (2023: £25,901) are secured against the assets of the company, and a personal guarantee from Mr P A Silver.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

10. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 55,467 53,733

11. Related party transactions

Transactions with the entity's director

Included in creditors is an amount of £nil (2023: £507,121) owed to the director of the company. Interest was charged at HMRC approved rates. The loan is repayable on demand.