Departware Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 15537913

		31 December 2024
	Notes	£	£
FIXED ASSETS
Tangible Assets	4		1,220,956

			1,220,956
CURRENT ASSETS
Debtors	5	50,775
Cash at bank and in hand		36,059

		86,834
Creditors: Amounts Falling Due Within One Year	6	(2,280 )

NET CURRENT ASSETS (LIABILITIES)			84,554

TOTAL ASSETS LESS CURRENT LIABILITIES			1,305,510

Creditors: Amounts Falling Due After More Than One Year	7		(1,396,467 )

NET LIABILITIES			(90,957 )

CAPITAL AND RESERVES
Called up share capital	9		100
Profit and Loss Account			(91,057 )

SHAREHOLDERS' FUNDS			(90,957)

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Departware Ltd

Balance Sheet (continued)

As At 31 December 2024

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Norman Han

Director

05/09/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Departware Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15537913 . The registered office is 51 Church Road, London, NW4 4DU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover represents net rental and other related income, excluding value added tax.

2.3. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the period was: NIL

4. Tangible Assets

	Investment Properties
	£
Cost
As at 3 March 2024	-
Additions	1,220,956

As at 31 December 2024	1,220,956

Net Book Value
As at 31 December 2024	1,220,956

As at 3 March 2024	-

5. Debtors

	31 December 2024
	£
Due within one year
Other debtors	3,500
Due after more than one year
Other debtors	47,275

	50,775

6. Creditors: Amounts Falling Due Within One Year

	31 December 2024
	£
Other creditors	2,280

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Departware Ltd

Notes to the Financial Statements (continued)

For the Period 3 March 2024 to 31 December 2024

7. Creditors: Amounts Falling Due After More Than One Year

	31 December 2024
	£
Bank loans	414,822
Amounts owed to participating interests	981,645

	1,396,467

8. Secured Creditors

Of the creditors the following amounts are secured.

	31 December 2024
	£
Bank loans and overdrafts	414,822

9. Share Capital

	31 December 2024
	£
Allotted, Called up and fully paid	100

10. Related Party Transactions

During the year, the company purchased a freehold property from its parent company, Sentware Ltd, for £900,000. The transaction was undertaken at market value, supported by an independent professional valuation.

Included in creditors falling due after more than one year there is an amount of £966,553 due to Sentware Ltd, the parent company. Sentware Ltd has pledged not to call in the inter-company loan of £966,553 due to them (which is interest free) until Departware Ltd is in a position to pay.

11. Ultimate Controlling Party

The company's ultimate controlling party is Sentware Ltd by virtue of his ownership of 100% of the issued share capital in the company.

12. Going Concern

The Financial Statements have been prepared on a going concern basis. The company has Net Liabilities of £90,957. The director has restructured the business and is confident that in the future the results will improve, strengthening the company's Balance Sheet. The director has also provided assurances that she will continue supporting the company.

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