Silverfin false 31 October 2025 31 October 2025 Catalina Feier FCA BKL Audit LLP 361,754 583,567 false true 31/12/2024 01/01/2024 31/12/2024 DV Corporate Limited 16/02/2022 S. Sohal 30/09/2022 D. W. Wood 13/07/2017 31 October 2025 Th principal activity of the company continued to be that of consultancy services. 10863984 2024-12-31 10863984 bus:Director1 2024-12-31 10863984 bus:Director2 2024-12-31 10863984 bus:Director3 2024-12-31 10863984 2023-12-31 10863984 core:CurrentFinancialInstruments 2024-12-31 10863984 core:CurrentFinancialInstruments 2023-12-31 10863984 core:Non-currentFinancialInstruments 2024-12-31 10863984 core:Non-currentFinancialInstruments 2023-12-31 10863984 core:ShareCapital 2024-12-31 10863984 core:ShareCapital 2023-12-31 10863984 core:RetainedEarningsAccumulatedLosses 2024-12-31 10863984 core:RetainedEarningsAccumulatedLosses 2023-12-31 10863984 core:OtherPropertyPlantEquipment 2023-12-31 10863984 core:OtherPropertyPlantEquipment 2024-12-31 10863984 core:ImmediateParent core:CurrentFinancialInstruments 2024-12-31 10863984 core:ImmediateParent core:CurrentFinancialInstruments 2023-12-31 10863984 core:ImmediateParent core:Non-currentFinancialInstruments 2024-12-31 10863984 core:ImmediateParent core:Non-currentFinancialInstruments 2023-12-31 10863984 bus:OrdinaryShareClass1 2024-12-31 10863984 2024-01-01 2024-12-31 10863984 bus:FilletedAccounts 2024-01-01 2024-12-31 10863984 bus:SmallEntities 2024-01-01 2024-12-31 10863984 bus:Audited 2024-01-01 2024-12-31 10863984 2023-01-01 2023-12-31 10863984 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10863984 bus:Director1 2024-01-01 2024-12-31 10863984 bus:Director2 2024-01-01 2024-12-31 10863984 bus:Director3 2024-01-01 2024-12-31 10863984 core:OtherPropertyPlantEquipment core:TopRangeValue 2024-01-01 2024-12-31 10863984 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 10863984 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 10863984 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10863984 (England and Wales)

# DALE VENTURES LIMITED

### Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

DALE VENTURES LIMITED

## Financial Statements

For the financial year ended 31 December 2024

Contents

DALE VENTURES LIMITED

## DIRECTORS' RESPONSIBILITIES STATEMENT

For the financial year ended 31 December 2024
DALE VENTURES LIMITED

## DIRECTORS' RESPONSIBILITIES STATEMENT (continued)

For the financial year ended 31 December 2024

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that financial period.
In preparing these financial statements, the directors are required to:
* Select suitable accounting policies and then apply them consistently;
* Make judgements and accounting estimates that are reasonable and prudent;
* State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
* Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DALE VENTURES LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
DALE VENTURES LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024

| Note | 2024 |  | 2023
|  | £ |  | £
|  |  |  | Restated - note 3
Fixed assets |  |  |  |
Tangible assets | 6 | 1,952 |  | 3,291
|  | 1,952 |  | 3,291
Current assets |  |  |  |
Debtors |  |  |  |
- due within one year | 7 | 693,379 |  | 810,529
- due after more than one year | 7 | 50,000 |  | 36,824
Cash at bank and in hand |  | 313,006 |  | 472,218
|  | 1,056,385 |  | 1,319,571
Creditors: amounts falling due within one year | 8 | ( 84,677) |  | ( 403,854)
Net current assets |  | 971,708 |  | 915,717
Total assets less current liabilities |  | 973,660 |  | 919,008
Creditors: amounts falling due after more than one year | 9 | ( 53,750) |  | 0
Net assets |  | 919,910 |  | 919,008
Capital and reserves |  |  |  |
Called-up share capital | 10 | 1 |  | 1
Profit and loss account |  | 919,909 |  | 919,007
Total shareholder's funds |  | 919,910 |  | 919,008

The notes on pages 13 to 20 from part of these financial statements.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Dale Ventures Limited (registered number: 10863984) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

S. Sohal Director |

31 October 2025

DALE VENTURES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
DALE VENTURES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Dale Ventures Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 16 Great Queen Street, London, WC2B 5DG, United Kingdom.
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 financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements.
As at 31 December 2024, the Company reported net assets of £971,708 (2023 : £915,717) with profit before taxation of £494,590 (2023: £852,717). These indicators suggest that the entity has sufficient resources to meet its obligations as they fall due for at least twelve months from the date of approval of the financial statements.
As part of our audit procedures, we obtained and reviewed management’s income and expenditure forecasts covering a period of at least twelve months from the date of approval of the financial statements. Our review included assessing the reasonableness of key assumptions such as revenue growth, cost control measures, and expected funding or income streams. We compared forecasted figures to historical results and considered the consistency of the forecasts with other audit evidence obtained. We also evaluated the sensitivity of the forecasts to changes in key assumptions to assess the robustness of the entity’s financial position under different scenarios.
Based on this work, we have not identified any material uncertainties that may cast significant doubt on the entity’s ability to continue as a going concern.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded in the period the service is provided at the fair value of the consideration received or receivable.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

##### Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

##### Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
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 the Statement of Income and Retained Earnings.

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) 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
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

##### 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.

#### 2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
i) Other Debtors (Shares Receivable)
At the reporting date, the company recognised £450,000 within other debtors, representing shares receivable from The Carrington Offices London Ltd under a contractual arrangement. As the shares are unlisted, their valuation involves estimation uncertainty. Management has assessed fair value using appropriate valuation techniques in line with FRS 102 Sections 11 and 12.

#### 3. Prior year adjustment

During the audit of the financial statements for the year ended 31 December 2024, three prior year adjustments were identified and have been corrected in accordance with FRS 102 Section 10: Accounting Policies, Estimates and Errors. The comparative figures for the year ended 31 December 2023 have been restated to reflect these adjustments.

|  | As previously reported |  | Adjustment |  | As restated
Year ended 31 December 2023 |  | £ |  | £ |  | £
Withholding Tax Provision |  | 0 |  | (88,059) |  | (88,059)
Corporation Tax |  | 200,879 |  | (19,788) |  | 181,091
Dividend |  | 0 |  | 347,630 |  | 347,630
Debtors |  | 1,283,042 |  | (435,689) |  | 847,353
Net Assets |  | 1,331,618 |  | (415,901) |  | 915,717
Retained Earnings |  | 1,334,908 |  | (415,901) |  | 919,007

Recognition of a Withholding Tax Provision
A withholding tax liability of £88,059 relating to payments received from a fellow subsidiary based within Costa Rica was not recognised within the prior year. This provision has now been recorded, resulting in an increase in liabilities and a corresponding reduction in retained earnings in the comparative period.
This resulted in a revised 2023 corporation tax computation and so an adjustment was made of £19,788 to reduce the corporation tax charge for the year and the subsequent provision.

Recognition of a Dividend to Clear the Director’s Loan Account (DLA)
A dividend of £347,630 declared in the prior year was not recognised in the financial statements. This dividend was intended to clear the outstanding Director’s Loan Account balance, in line with the dividend minutes. The adjustment has been made by recognising the dividend in the comparative period, resulting in a reduction in retained earnings and the elimination of the DLA balance.

#### 4. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the company during the year, including directors | 3 |  | 4

#### 5. Dividends on equity shares

| 2024 |  | 2023
| £ |  | £
Amounts recognised as distributions to equity holders in the financial year: |  |  |
Final dividend for the financial year ended 31 December 2024 | 360,852 |  | 347,630

#### 6. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 January 2024 | 5,355 |  | 5,355
At 31 December 2024 | 5,355 |  | 5,355
Accumulated depreciation |  |  |
At 01 January 2024 | 2,064 |  | 2,064
Charge for the financial year | 1,339 |  | 1,339
At 31 December 2024 | 3,403 |  | 3,403
Net book value |  |  |
At 31 December 2024 | 1,952 |  | 1,952
At 31 December 2023 | 3,291 |  | 3,291

#### 7. Debtors

| 2024 |  | 2023
| £ |  | £
Debtors: amounts falling due within one year |  |  |
Trade debtors | 120,000 |  | 111,599
Amounts owed by group undertakings | 117,649 |  | 323,121
Prepayments | 1,296 |  | 0
VAT recoverable | 4,434 |  | 25,809
Other debtors | 450,000 |  | 350,000
| 693,379 |  | 810,529
Debtors: amounts falling due after more than one year |  |  |
Amounts owed by group undertakings | 0 |  | 36,824
Prepayments | 50,000 |  | 0
| 50,000 |  | 36,824

#### 8. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Trade creditors | 2,489 |  | 0
Amounts owed to parent undertakings | 0 |  | 180,581
Accruals | 26,608 |  | 38,253
Taxation and social security | 53,114 |  | 181,091
Other creditors | 2,466 |  | 3,929
| 84,677 |  | 403,854

#### 9. Creditors: amounts falling due after more than one year

| 2024 |  | 2023
| £ |  | £
Amounts owed to parent undertakings | 53,750 |  | 0

#### 10. Called-up share capital

| 2024 |  | 2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1 Ordinary share of £ 1.00 | 1 |  | 1

#### 11. Financial commitments

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

| 2024 |  | 2023
| £ |  | £
Unpaid contributions due to the fund (inc. in other creditors) | 2,466 |  | 3,929

#### 12. Related party transactions

Transactions with owners holding a participating interest in the entity

| 2024 |  | 2023
| £ |  | £
Loan from Parent Company | 0 |  | 180,581

Interest at a rate of 8% per annum shall be applied to the Advances with effect from 1 January 2024 and compounded monthly.
All amounts due or owing to the Lender under or in connection with this agreement shall be due and payable to the Lender at any time at the Lender’s discretion and no later than the Termination Date unless otherwise agreed in writing by the Parties.

Transactions with the entity's directors

| 2024 |  | 2023
| £ |  | £
Professional service fees paid to the company's director | 240,000 |  | 240,000
Directors remmuneration | 148,838 |  | 141,750

Advances

An advance was made to the director for £0 (2023 - amount due to director - £347,630). The loan was repaid on 31 March 2024.

#### 13. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2024 was unqualified.

The audit report was signed by Catalina Feier FCA on behalf of BKL Audit LLP, Chartered Accountants.

#### 14. Ultimate controlling party

Parent Company:

Dale Ventures Limited is owned by Dale Ventures FZE, a company registered in the United Arab Emirates.