Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-31 2024-08-31 0 2 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true Leasing real estate 2023-11-20 false false true 15294976 2023-11-19 15294976 2023-11-20 2024-08-31 15294976 2022-09-01 2023-11-19 15294976 2024-08-31 15294976 c:CompanySecretary1 2023-11-20 2024-08-31 15294976 c:Director1 2023-11-20 2024-08-31 15294976 c:Director2 2023-11-20 2024-08-31 15294976 c:RegisteredOffice 2023-11-20 2024-08-31 15294976 d:FurnitureFittings 2023-11-20 2024-08-31 15294976 d:FurnitureFittings 2024-08-31 15294976 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-11-20 2024-08-31 15294976 d:CurrentFinancialInstruments 2024-08-31 15294976 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 15294976 d:ShareCapital 2024-08-31 15294976 d:RetainedEarningsAccumulatedLosses 2024-08-31 15294976 c:OrdinaryShareClass1 2023-11-20 2024-08-31 15294976 c:OrdinaryShareClass1 2024-08-31 15294976 c:FRS102 2023-11-20 2024-08-31 15294976 c:AuditExempt-NoAccountantsReport 2023-11-20 2024-08-31 15294976 c:FullAccounts 2023-11-20 2024-08-31 15294976 c:PrivateLimitedCompanyLtd 2023-11-20 2024-08-31 15294976 e:PoundSterling 2023-11-20 2024-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 15294976 DEVONSHIRE PLACE LEASE CO. LTD UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024
DEVONSHIRE PLACE LEASE CO. LTD CONTENTS
| Page
Company information | 1
Balance sheet | 2
Notes to the financial statements | 3 - 7
DEVONSHIRE PLACE LEASE CO. LTD COMPANY INFORMATION
Directors | D Ungar
| R Woods
Company secretary | R Woods
Registered number | 15294976
Registered office | Disraeli House
| 6 Bloomsbury Square
| London
| England
| WC1A 2LP
Accountants | Blick Rothenberg Limited
| Chartered Accountants
| 16 Great Queen Street
| Covent Garden
| London
| WC2B 5AH
Page 1
|  | REGISTERED NUMBER:15294976
DEVONSHIRE PLACE LEASE CO. LTD BALANCE SHEET AS AT 31 AUGUST 2024
|  | 2024
Note |  | £
Fixed assets |  |  |
Tangible assets | 4 |  | 14,058
Current assets |  |  |
Stocks | 5 | 9,999,997 |
Debtors: amounts falling due within one year | 6 | 29,933 |
|  | 10,029,930 |
Creditors: amounts falling due within one year | 7 | (10,130,074) |
Net current liabilities |  |  | (100,144)
Net liabilities |  |  | (86,086)
Capital and reserves |  |  |
Called up share capital | 8 |  | 1
Profit and loss account |  |  | (86,087)
Total deficit |  |  | (86,086)
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 period 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:
R Woods
Director
Date: 11 September 2025
The notes on pages 3 to 7 form part of these financial statements. Page 2
DEVONSHIRE PLACE LEASE CO. LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024
1. | General information
Devonshire Place Lease Co. Ltd is a private company limited by shares incorporated in England and Wales. The address of its registered office is Disraeli House, 6 Bloomsbury Square, London, WC1A 2LP. These financial statements have been prepared for a short period from 20 November 2023 (incorporation) to 31 August 2024. The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 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 | Going concern
The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The directors consider this basis to be appropriate as the company has sufficient facilities available from its shareholders to fund its working capital requirements for a period of at least twelve months from the date these financial statements were approved.
| 2.3 | Stocks
Stock represents work in progress in relation to property developments. Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises all direct costs and where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
| 2.4 | Turnover
Turnover represents amounts receivable for the sale of completed property developments.
| 2.5 | Other operating income
Other operating income comprises rental income, service charges and other recoveries from tenants of the company’s properties held for resale. Rental income is recognised on an accruals basis in the period in which it is earned, in accordance with the terms of the lease.
| 2.6 | 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. Page 3
DEVONSHIRE PLACE LEASE CO. LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 2.Accounting policies (continued)
| 2.7 | 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. The estimated useful lives range as follows:
|  |  |  | Fixtures and fittings | - | 3 | years
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.
| 2.8 | Share capital
Ordinary shares are classified as equity.
| 2.9 | Financial instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 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 deducting all of its liabilities. The company’s policies for its major classes of financial assets and financial liabilities are set out below. Financial assets Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Page 4
DEVONSHIRE PLACE LEASE CO. LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 2.Accounting policies (continued)
|  | Financial instruments (continued)
Financial liabilities Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Impairment of financial assets Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Derecognition of financial assets and financial liabilities 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) despite having retained some significant risks and rewards of ownership, 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 are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Offsetting of financial assets and financial liabilities Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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. Page 5
DEVONSHIRE PLACE LEASE CO. LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024
3. | Employees
| The average monthly number of employees, including directors, during the period was 2.
4. | Tangible fixed assets
|  | Fixtures and fittings
|  | £
| Cost |
| Additions | 19,578
| At 31 August 2024 | 19,578
| Depreciation |
| Charge for the period | 5,520
| At 31 August 2024 | 5,520
| Net book value |
| At 31 August 2024 | 14,058
5. | Stocks
|  |  |  |  | 2024
|  |  |  |  | £
| Property stock | 9,999,997
| The company's property stock has been pledged as security for a loan provided to the company's parent undertaking. The loan is secured by way of a fixed and floating charge.
6. | Debtors
|  |  |  |  | 2024
|  |  |  |  | £
| Trade debtors | 4,740
| Prepayments and accrued income | 25,193
|  | 29,933
Page 6
DEVONSHIRE PLACE LEASE CO. LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024
7. | Creditors: amounts falling due within one year
|  |  |  |  | 2024
|  |  |  |  | £
| Trade creditors | 27,179
| Other creditors | 10,004,642
| Accruals and deferred income | 98,253
|  | 10,130,074
8. | Share capital
|  |  |  |  | 2024
|  |  |  |  | £
|  | Allotted, called up and fully paid |
|  | 1 Ordinary share of £1.00 | 1
Upon incorporation, 1 Ordinary £1 share was allotted and fully paid up to establish the capital structure of the company.
9. | Related party transactions
| The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.
Page 7