Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-312025-05-312023-09-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09713836 2023-09-01 2024-08-31 09713836 2022-09-01 2023-08-31 09713836 2024-08-31 09713836 2023-08-31 09713836 2022-09-01 09713836 c:Director1 2023-09-01 2024-08-31 09713836 d:CurrentFinancialInstruments 2024-08-31 09713836 d:CurrentFinancialInstruments 2023-08-31 09713836 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 09713836 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 09713836 d:ShareCapital 2024-08-31 09713836 d:ShareCapital 2023-08-31 09713836 d:RetainedEarningsAccumulatedLosses 2024-08-31 09713836 d:RetainedEarningsAccumulatedLosses 2023-08-31 09713836 d:TaxLossesCarry-forwardsDeferredTax 2024-08-31 09713836 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 09713836 d:OtherDeferredTax 2024-08-31 09713836 d:OtherDeferredTax 2023-08-31 09713836 c:OrdinaryShareClass1 2023-09-01 2024-08-31 09713836 c:OrdinaryShareClass1 2024-08-31 09713836 c:OrdinaryShareClass1 2023-08-31 09713836 c:FRS102 2023-09-01 2024-08-31 09713836 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 09713836 c:FullAccounts 2023-09-01 2024-08-31 09713836 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09713836 2 2023-09-01 2024-08-31 09713836 6 2023-09-01 2024-08-31 09713836 e:PoundSterling 2023-09-01 2024-08-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 09713836









DLH CAPITAL LTD

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
DLH CAPITAL LTD
REGISTERED NUMBER: 09713836

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
36,201,115
32,501,913

Current assets
  

Debtors: amounts falling due within one year
 5 
1,750
17,061

Cash at bank and in hand
  
8,370,749
113,266

  
8,372,499
130,327

Creditors: amounts falling due within one year
 6 
(31,282,086)
(19,781,081)

Net current liabilities
  
 
 
(22,909,587)
 
 
(19,650,754)

Total assets less current liabilities
  
13,291,528
12,851,159

Provisions for liabilities
  

Deferred tax
 7 
(1,131,172)
(1,239,315)

Net assets
  
12,160,356
11,611,844


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
12,160,256
11,611,744

  
12,160,356
11,611,844


Page 1

 
DLH CAPITAL LTD
REGISTERED NUMBER: 09713836

BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 by: 



Mr J D De La Hey
Director

Date: 31 May 2025

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

Page 2

 
DLH CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

The company is a private company limited by shares and incorporated in England & Wales. The registered number is 09713836 and the registered office and trading address is Ferguson House, 15 Marylebone Road, 5th Floor, London, NW1 5JD. This company is not part of a group. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director considers that the resources available to the company, as well as the assurance that the director's loan will not be called in within the next 12 months, will be sufficient for it to be able to continue as a going concern for a period of 12 months after the approval of the financial statements. The financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
DLH CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
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

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.


 
2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

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

 
2.8

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 4

 
DLH CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Financial assets and liabilities are offset, with 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.

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.

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
Page 5

 
DLH CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

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.

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 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.


3.


Employees

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


4.


Fixed asset investments





Listed investments
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 September 2023
1,065,660
31,436,253
32,501,913


Additions
1,853,956
7,009,525
8,863,481


Disposals
(676,481)
(4,340,622)
(5,017,103)


Revaluations
(190,529)
43,353
(147,176)



At 31 August 2024
2,052,606
34,148,509
36,201,115




Page 6

 
DLH CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Debtors

2024
2023
£
£


Other debtors
1,750
17,061



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
250,046
-

Other creditors
31,021,841
19,771,841

Accruals and deferred income
10,199
9,240

31,282,086
19,781,081



7.


Deferred taxation




2024
2023


£

£






At beginning of year
(1,239,315)
(2,009,764)


Charged to profit or loss
108,143
770,449



At end of year
(1,131,172)
(1,239,315)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Tax losses carried forward
(214,853)
-

Gain on revaluation of investments
1,346,025
1,239,315

(1,131,172)
(1,239,315)


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



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


Page 7

 
DLH CAPITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Related party transactions

During the year the director advanced £11,250,000 (2023 - £600,000) to the company, of which £Nil (2023 - £Nil) was repaid by the company. 
At the year end the amount owed by the company to the director was £31,021,841 (2023 - £19,771,841). 
This loan is interest free and repayable on demand. 


Page 8