Dunluce Capital Management Ltd Filleted accounts for Companies House (small and micro)

DUNLUCE CAPITAL MANAGEMENT LTD - Company Information

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COMPANY REGISTRATION NUMBER: NI645966

Dunluce Capital Management Ltd

Filleted Unaudited Financial Statements

31 December 2019

Dunluce Capital Management Ltd

Financial Statements

Year ended 31 December 2019

Contents	Page

Officers and professional advisers	1

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	4

Dunluce Capital Management Ltd

Officers and Professional Advisers

The board of directors	Mr R Smith
	Mr Z Hammam

Registered office	4 High Street
	Holywood
	Northern Ireland
	BT18 9AZ

Accountants	Maneely Mc Cann
	Chartered Accountants
	Aisling House
	50 Stranmillis Embankment
	Belfast
	BT9 5FL

Bankers	Danske Bank
	Donegall Square West
	Belfast
	BT1 6JS

Dunluce Capital Management Ltd

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Dunluce Capital Management Ltd

Year ended 31 December 2019

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2019, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Maneely Mc Cann Chartered Accountants

Aisling House 50 Stranmillis Embankment Belfast BT9 5FL

10 March 2021

Dunluce Capital Management Ltd

Statement of Financial Position

31 December 2019

	2019	2018
Note	£	£

Current assets

Debtors	5	44,087	46,400
Cash at bank and in hand		5,675	75,679
		--------	---------
		49,762	122,079

Creditors: amounts falling due within one year	6	31,116	88,511
		--------	---------
Net current assets		18,646	33,568
		--------	--------
Total assets less current liabilities		18,646	33,568
		--------	--------
Net assets		18,646	33,568
		--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	18,546	33,468
	--------	--------
Shareholders funds	18,646	33,568
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 10 March 2021 , and are signed on behalf of the board by:

Mr R Smith

Director

Company registration number: NI645966

Dunluce Capital Management Ltd

Notes to the Financial Statements

Year ended 31 December 2019

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 4 High Street, Holywood, BT18 9AZ, Northern Ireland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2018: 2 ).

5. Debtors

	2019	2018
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	40,900	40,900
Other debtors	3,187	5,500
	--------	--------
	44,087	46,400
	--------	--------

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	17,400
Corporation tax	–	8,065
Social security and other taxes	6,386	6,386
Other creditors	24,730	56,660
	--------	--------
	31,116	88,511
	--------	--------

7. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2019
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr R Smith	5,400	( 5,400)	–
	-------	-------	----

	2018
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr R Smith	–	5,400	5,400
	----	-------	-------

8. Related party transactions

The company is related to Gansett Companies LLC, Gansett Opportunities III LLC, Zakani Limited, Dunluce Healthcare 2 Ltd and Dunluce Healthcare Ltd by virtue of common directors. In the year, the company was charged fees of £137,500 from Zakani Limited. At the balance sheet date, the amount owed to Dunluce Healthcare 2 Ltd was £NIL (2018: £17,400). The loan is unsecured, interest free and repayable upon demand.

9. Controlling party

The company is controlled by the Directors.