DIMOCARPUS_LIMITED_31_Dec_2022_companies_house_set_of_accounts.html

DIMOCARPUS LIMITED - Company Information

Company registration number:

10776139

Dimocarpus Limited

Unaudited Filleted Financial Statements for the year ended

31 December 2022

Dimocarpus Limited

Report to the board of directors on the preparation of the unaudited statutory financial statements of Dimocarpus Limited

Year ended

31 December 2022

As described on the statement of financial position, the Board of Directors of

Dimocarpus Limited

are responsible for the preparation of the

financial statements

for the year ended

31 December 2022

, which comprise the income statement, statement of financial position and related notes.

You consider that the company is exempt from an audit under the Companies Act 2006.

In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.

EIK Business Limited

2 Portman Street

London

W1H 6DU

United Kingdom

Dimocarpus Limited

Statement of Financial Position

31 December 2022

		2022		2021
	Note	£		£
Current assets
Stocks		9,657,744		9,657,744
Cash at bank and in hand		18,285		24,343
		9,676,029		9,682,087
Creditors: amounts falling due within one year	5	(8,750,413	)	(8,749,610	)
Net current assets		925,616		932,477
Total assets less current liabilities		925,616		932,477
Capital and reserves
Called up share capital		1,000,000		1,000,000
Profit and loss account		(74,384	)	(67,523	)
Shareholders funds		925,616		932,477

For the year ending

31 December 2022

, 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

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

In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.

These

financial statements

were approved by the board of directors and authorised for issue on

4 December 2023

, and are signed on behalf of the board by:



Z Chen	P Tang	Y LEE
Director	Director	Director


Y Zhang
Director

Company registration number:

10776139

Dimocarpus Limited

Notes to the Financial Statements

Year ended

31 December 2022

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

35 Pond Street

London

NW3 2PN

, England.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Going concern

The financial statements have been prepared on the going concern basis given the continued support of the company’s owners. The company’s operations are currently funded by amounts due to the immediate parent company Able Wide Enterprises Limited. The ultimate parent company Country Garden Holdings Company Limited has confirmed to the company its intention to provide sufficient funds to enable it to continue to operate and meet its liabilities as they fall due and at least for a period of twelve months from the date of signing these financial statements. Accordingly the directors believe that it is appropriate that these financial statements are prepared on a going concern basis.

Inventories

Inventories are stated at the lower of cost and net realisable value. Cost, in relation to work in progress and showhomes, comprises direct materials and, where applicable, direct labour costs and those overheads, not including any general administrative overheads, that have been incurred in bringing the stock to their present location and condition. Net realisable value represents the estimated selling price less all estimated costs of completion and overheads.

Land held for development, including land in the course of development until legal completion of the sale of the asset, is initially recorded at cost. Regular reviews are carried out to identify any impairment in the value of the land by comparing the total estimated selling prices less estimated selling expenses against the book cost of the land plus estimated costs to complete. Provision is made for any irrecoverable amounts.

Investments in land without the benefit of planning consent, either through the purchase of land or non-refundable deposits paid on land purchase contracts subject to planning consent, are included initially at cost. Regular reviews are carried out for impairment in the values of these investments and provision made to reflect any irrecoverable element. The impairment reviews consider the existing use value of the land and asses the likelihood of achieving planning consent and the value thereof.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity 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.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

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.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or 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 Average number of employees

The average number of persons employed by the company during the year was Nil (2021: Nil).

5 Creditors: amounts falling due within one year

	2022	2021
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8,676,423	8,731,845
Other creditors	73,990	17,765
	8,750,413	8,749,610

(a) The amounts due were unsecured, interest-free and repayable on demand.

(b) The loans owed to group undertakings are unsecured consisting of a loan from Country Garden Holdings Company Limited of £4,319,750 (2020: £4,319,750) which bore an interest rate of 8.3% (2020: 8.3%) per annum and matures on 31 December 2022 along with its accrued interest £1,191,914 (2020: £1,054,730).