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Registered number: 07222648














DAVERLIN LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
DAVERLIN LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
DAVERLIN LIMITED
REGISTERED NUMBER:07222648

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,535
13,880

  
6,535
13,880

Current assets
  

Debtors: amounts falling due within one year
 5 
7,130,306
528,256

Cash at bank and in hand
 6 
24,615,117
30,966,324

  
31,745,423
31,494,580

Creditors: amounts falling due within one year
 7 
(23,018,112)
(23,037,740)

Net current assets
  
 
 
8,727,311
 
 
8,456,840

Total assets less current liabilities
  
8,733,846
8,470,720

Provisions for liabilities
  

Deferred tax
 8 
(1,227)
(2,974)

  
 
 
(1,227)
 
 
(2,974)

Net assets
  
8,732,619
8,467,746


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
8,732,618
8,467,745

  
8,732,619
8,467,746

1

 
DAVERLIN LIMITED
REGISTERED NUMBER:07222648
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider 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 directors acknowledge their 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 by: 





K L Caplan
Director

Date: 21 August 2025

The notes on pages 3 to 7 form part of these financial statements.
2

 
DAVERLIN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The principal activity of the company is that of property investment.
The company is a private company, limited by shares and registered in England and Wales. The registered address of the company is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

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 requirements of the Companies Act 2006.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Interest income

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

 
2.3

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.

 
2.4

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.

3

 
DAVERLIN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

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.


 
2.6

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%
straight line
Computer equipment
-
25%
straight line

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.

 
2.7

 Debtors

Short-term debtors are measured at transaction price, less any impairment.

4

 
DAVERLIN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

  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.

 
2.9

  Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
 
 
2.10

 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 debtor and creditors, loans to and from related parties.

 
2.11

  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.


3.


Employees

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


4.


Tangible fixed assets





Motor vehicles
Computer equipment
Total

£
£
£



Cost


At 1 January 2024
26,495
2,883
29,378



At 31 December 2024

26,495
2,883
29,378



Depreciation


At 1 January 2024
14,352
1,146
15,498


Charge for the year
6,624
721
7,345



At 31 December 2024

20,976
1,867
22,843



Net book value



At 31 December 2024
5,519
1,016
6,535



At 31 December 2023
12,143
1,737
13,880

5

 
DAVERLIN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
7,113,649
248,205

Other debtors
11,997
268,274

Prepayments and accrued income
4,660
11,777

7,130,306
528,256



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
24,615,117
30,966,324



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
17,120
27,083

Amounts owed to group undertakings
22,889,626
22,999,999

Corporation tax
95,563
-

Other creditors
-
319

Accruals and deferred income
15,803
10,339

23,018,112
23,037,740


6

 
DAVERLIN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Deferred taxation




2024
2023


£

£






At beginning of year
(2,974)
-


Profit and loss account movement
1,747
(2,974)



At end of year
(1,227)
(2,974)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,227)
(2,974)


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 Ordinary share of £1
1
1



10.


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 charge represents contributions payable by the company to the fund and amounted to £20,000 (2023 - £20,000).


11.


Related party transactions

No disclosure has been made of transactions with other wholly owned group companies in accordance
with FRS 102 Section 1A paragraph 1AC.35.

During the year, directors:

Received repayment of loans from the company of £NIL (2023 - £1,075,196)
Charged interest at 5% plus the Bank of England's base rate per annum, totalling £NIL (2023 - £69,766).

At the year end, the balance outstanding to directors was £NIL (2023 - £NIL)

During the year, the directors received emoluments of £123,323 (2023 - £129,079).
 
7