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Registered number: 2583455





 
Dunsvalley Associates Limited          
 
Financial statements          

For the year ended 31 August 2024          

 
Dunsvalley Associates Limited
Registered number:2583455

Balance sheet
As at 31 August 2024


2024 

2023 
                                                                                    Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
519,801
562,134

Investments
 5 
8,401
8,401

  
528,202
570,535

Current assets
  

Stock
 6 
19,456
18,113

Debtors
 7 
35,269
57,844

Cash at bank and in hand
 8 
118,624
38,582

  
173,349
114,539

Creditors: amounts falling due within one year
 9 
(1,144,329)
(1,086,200)

Net current liabilities
  
 
 
(970,980)
 
 
(971,661)

Total assets less current liabilities
  
(442,778)
(401,126)

Provisions for liabilities
  

Deferred tax
 10 
(20,141)
(24,363)

Net liabilities
  
(462,919)
(425,489)


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
(463,019)
(425,589)

  
(462,919)
(425,489)


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 May 2025.



Jason J Bartella
Director

The notes on pages 2 to 10 form part of these financial statements
Page 1

 
Dunsvalley Associates Limited
 
 
Notes to the financial statements
For the year ended 31 August 2024

1.


General information

Dunsvalley Associates Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Head Office Pontlands Park, West Hanningfield Road, Great Baddow, North Chelmsford, Essex, CM2 8HR. Its principal place of business is Ivy Hill Hotel, Writtle Road, Margaretting, Chelmsford, Essex, CM4 0EH.

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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
Dunsvalley Associates Limited
 
 
Notes to the financial statements
For the year ended 31 August 2024

2.Accounting policies (continued)

 
2.3

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.

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

Depreciation is provided at the following rates:

Land and buildings
-
4% straight-line
Leasehold additions
-
written off over the term of the lease
Furniture, fittings and equipment
-
15% reducing balance
Computer equipment
-
15% 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.

 
2.4

Valuation of investments

Investments held as fixed asset investments are held under the cost model and are stated at historic cost less any accumulated impairment losses. 

 
2.5

Stock

Stock is 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 on a first in, first out basis. 
At each balance sheet date, stock is assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss

 
2.6

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.

Page 3

 
Dunsvalley Associates Limited
 
 
Notes to the financial statements
For the year ended 31 August 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

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 profit or loss. 

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Page 4

 
Dunsvalley Associates Limited
 
 
Notes to the financial statements
For the year ended 31 August 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)


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

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
2.9

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.

 
2.10

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
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.

Page 5

 
Dunsvalley Associates Limited
 
 
Notes to the financial statements
For the year ended 31 August 2024

2.Accounting policies (continued)

 
2.12

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.



3.


Employees

The average monthly number of employees, including directors, during the year was 61 (2023 - 58).

Page 6

 
Dunsvalley Associates Limited
 
 
Notes to the financial statements
For the year ended 31 August 2024

4.


Tangible fixed assets





Land and buildings
Furniture, fittings and equipment
Computer equipment
Total

£
£
£
£



Cost 


At 1 September 2023
1,916,476
976,316
40,397
2,933,189


Disposals
-
(1,582)
(1,509)
(3,091)



At 31 August 2024

1,916,476
974,734
38,888
2,930,098



Depreciation


At 1 September 2023
1,467,042
875,575
28,439
2,371,056


Charge for the year 
24,086
15,111
1,794
40,991


Disposals
-
(756)
(994)
(1,750)



At 31 August 2024

1,491,128
889,930
29,239
2,410,297



Net book value



At 31 August 2024
425,348
84,804
9,649
519,801



At 31 August 2023
449,434
100,741
11,959
562,134


5.


Fixed asset investments





Fixed asset investments

£



Cost


At 1 September 2023 and 31 August 2024
8,401





6.


Stock

2024
2023
£
£

Food and liquor stock
19,456
18,113


Page 7

 
Dunsvalley Associates Limited
 
 
Notes to the financial statements
For the year ended 31 August 2024

7.


Debtors

2024
2023
£
£


Trade debtors
1,650
1,619

Other debtors
750
-

Prepayments and accrued income
32,869
56,225

35,269
57,844



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
118,624
38,582



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
236,780
237,086

Amounts owed to parent company
822,909
768,566

Taxation and social security
62,618
57,660

Other creditors
2,553
3,482

Accruals and deferred income
19,469
19,406

1,144,329
1,086,200


Page 8

 
Dunsvalley Associates Limited
 
 
Notes to the financial statements
For the year ended 31 August 2024

10.


Deferred taxation




2024
2023


£

£






At beginning of year
24,363
28,634


Released during the year
(4,222)
(4,271)



At end of year
20,141
24,363

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
20,141
24,363


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund in the year and amounted to £11,324 (2023 - £10,570).  


13.


Related party transactions

During the year the company was charged £6,644 (2023 - £20,047) for consultancy services provided by Ralis Services SA, the company's ultimate holding company. The company was also charged management charges of £20,137 (2023 - £9,945)  by Tormage Limited, an associated company.
At the balance sheet date the company owed Tormage Limited £11,495 
(2023 - £5,749) and was owed from Tormage Limited £851 (2023 - £1,282)
The director has elected to take advantage of the exemption as set out in paragraph 33.1A of FRS 102 and has therefore not disclosed transactions with the parent company on the basis that the company is a wholly owned subsidiary of the parent company. 

Page 9

 
Dunsvalley Associates Limited
 
 
Notes to the financial statements
For the year ended 31 August 2024

14.


Going concern

The financial statements disclose net current liabilities of £970,980 and net liabilities of £462,919. Therefore, the company is reliant upon the continued support of its creditors, which consist mainly of the loan from the parent company. The director has chosen to prepare the accounts on a going concern basis having regard to the fact that the support of the parent company will continue for the foreseeable future.


15.


Parent company

The parent company of the smallest group within which Dunsvalley Associates Limited belongs is Sedum Limited, a company incorporated in England and Wales. The registered office and principal place of business of Sedum Limited is Pontlands Park Hotel, West Hanningfield Road, Great Baddow, Chelmsford, Essex, CM2 8HR. 


16.


Ultimate parent undertaking and controlling party

The company's ultimate holding company at the balance sheet date was Ralis Services SA, a company incorporated in the British Virgin Islands.


17.


Auditors' information

The auditors' report on the financial statements for the year ended 31 August 2024 was unqualified.

The audit report was signed on 21 May 2025 by Laura Main (Senior statutory auditor) on behalf of Clay Ratnage Strevens & Hills.

 
Page 10