DULWICH FINANCE LIMITED - Filleted accounts

Registered number

00820036

DULWICH FINANCE LIMITED

Filleted Accounts

31 December 2024

DULWICH FINANCE LIMITED
Registered number:		00820036
Balance Sheet
as at 31 December 2024

	Notes	2024			2023
£			£	£		£
Fixed assets
Investment property	4		2,595,900			1,305,000

Current assets
Stocks		182,645			182,645
Debtors	5	9,148			9,218
Cash at bank and in hand		43,102			122,407
		234,895			314,270

Creditors: amounts falling due within one year	6	(38,391)			(191,419)

Net current assets			196,504			122,851

Total assets less current liabilities			2,792,404			1,427,851


Provisions for liabilities			(408,539)			(85,814)


Net assets			2,383,865			1,342,037

Capital and reserves
Called up share capital	7		100			100
Revaluation reserve	8		1,332,188			364,013
Profit and loss account	9		1,051,577			977,924

Shareholders' funds			2,383,865			1,342,037

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




C Jeffries
Director
Approved by the board on 24 December 2025

DULWICH FINANCE LIMITED
Notes to the Accounts
for the year ended 31 December 2024

1	Accounting policies

	Basis of preparation
	These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

	Turnover
	Turnover represents rents receivable from the letting and when applicable the proceeds of sale of freehold properties.

	Investment properties
	Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

	Stocks
	Stocks represent the cost of properties held for resale.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.







	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Judgements and key sources of estimation uncertainty

	In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.


3	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					2		2


4	Investment property
								Land and buildings
	Cost							£
	At 1 January 2024							1,305,000
	Surplus on revaluation							1,290,900
	At 31 December 2024							2,595,900

	Amortisation
	At 31 December 2024							-

	Net book value
	At 31 December 2024							2,595,900
	At 31 December 2023							1,305,000

	Investment property					2024		2023
£							£
	Historical cost					830,130		830,130
	Revaluation					1,765,770		474,870
						2,595,900		1,305,000

	The fair value of investment properties has been arrived using the open market value of the properties held by the Company at the balance sheet date. The valuation was made by reference to market evidence of transaction prices for similar properties. The cost of investment properties is £830,130.


5	Debtors					2024		2023
£							£
	Prepayments					2,338		2,408
	Other debtors					6,810		6,810
						9,148		9,218


6	Creditors: amounts falling due within one year					2024		2023
£							£
	Taxation and social security costs					21,453		20,410
	Payments received on account					7,016		6,906
	Accruals					3,555		6,026
	Other creditors					6,367		158,077
						38,391		191,419


7	Called up share capital	2024		2023		2024		2023
	Ordinary share capital	Number	Number		£		£
	Issued and fully paid

	Ordinary shares of £1 each	100		100		100		100

		100		100		100		100


8	Revaluation reserve					2024		2023
£							£

	At 1 January 2024					364,013		364,013
	Gain on revaluation of land and buildings					1,290,900		-
	Deferred taxation arising					(322,725)		-
	At 31 December 2024					1,332,188		364,013


9	Profit and loss reserves					2024		2023
£							£

	At the beginning of the year					977,924		1,053,964
	Profit for the year					1,041,828		73,960
	Dividends declared and paid in the year					-		(150,000)
	Transfer to revaluation reserve					(968,175)		-

						1,051,577		977,924


10	Related party transactions

	At the beginning,of the year, the company owed £68,100 to director K Jeffery and at the end £Nil. At the beginning of the year £12,500 was owed to director C Jeffries and £Nil at the end of the year. At the beginning of the year £10,500 was owed to director R Jeffery and £Nil at the end of the year. All loans were interest free and repayable on demand.


11	Other information

	DULWICH FINANCE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	Accountax House
	420a Streatham High Road
	London
	England
	SW16 3SN