DULWICH FINANCE LIMITED - Filleted accounts

Registered number

00820036

DULWICH FINANCE LIMITED

Filleted Accounts

31 December 2025

DULWICH FINANCE LIMITED
Registered number:		00820036
Balance Sheet
as at 31 December 2025

	Notes	2025			2024
£			£	£		£
Fixed assets
Investment property	4		2,631,375			2,595,900

Current assets
Stocks		-			182,645
Debtors	5	9,335			9,148
Cash at bank and in hand		91,235			43,102
		100,570			234,895

Creditors: amounts falling due within one year	6	(58,243)			(38,391)

Net current assets			42,327			196,504

Total assets less current liabilities			2,673,702			2,792,404


Provisions for liabilities			(389,521)			(408,539)


Net assets			2,284,181			2,383,865

Capital and reserves
Called up share capital	7		100			100
Revaluation reserve	8		1,168,562			1,332,188
Profit and loss account	9		1,115,519			1,051,577

Shareholders' funds			2,284,181			2,383,865

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.




R Jeffery
Director
Approved by the board on 24 April 2026

DULWICH FINANCE LIMITED
Notes to the Accounts
for the year ended 31 December 2025

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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


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					2025		2024
Number							Number

	Average number of persons employed by the company					2		2


4	Investment property
								Land and buildings
	Cost							£
	At 1 January 2025							2,595,900
	Additions							35,475
	At 31 December 2025							2,631,375

	Amortisation
	At 31 December 2025							-

	Net book value
	At 31 December 2025							2,631,375
	At 31 December 2024							2,595,900

	Investment property					2025		2024
£							£
	Historical cost					1,166,016		947,896
	Revaluation					1,465,359		1,648,004
						2,631,375		2,595,900

	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 £1,166,016.


5	Debtors					2025		2024
£							£
	Prepayments					2,525		2,338
	Other debtors					6,810		6,810
						9,335		9,148


6	Creditors: amounts falling due within one year					2025		2024
£							£
	Taxation and social security costs					39,973		21,453
	Payments received on account					5,256		7,016
	Accruals					6,180		3,555
	Other creditors					6,834		6,367
						58,243		38,391


7	Called up share capital	2025		2024		2025		2024
	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					2025		2024
£							£

	At 1 January 2025					1,332,188		364,013
	(Loss)/gain on revaluation of land and buildings					(182,644)		1,290,900
	Deferred taxation arising					19,018		(322,725)
	At 31 December 2025					1,168,562		1,332,188


9	Profit and loss reserves					2025		2024
£							£

	At the beginning of the year					1,051,577		977,924
	Profit for the year					(306,211)		1,041,828
	Dividends declared and paid in the year					-		-
	Transfer to revaluation reserve					370,153		(968,175)

						1,115,519		1,051,577


10	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