IRIS Accounts Productionv23.3.1.4511098900Board of Directors31.12.231.1.2331.12.2331.12.23XtruetruefalsetruetruefalsefalsefalsefalsetruefalseOrdinary0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh110989002022-12-31110989002023-12-31110989002023-01-012023-12-31110989002021-12-31110989002022-01-012022-12-31110989002022-12-3111098900ns10:Originalns15:EnglandWales2023-01-012023-12-3111098900ns14:PoundSterlingns10:Original2023-01-012023-12-3111098900ns10:Originalns10:Director12023-01-012023-12-3111098900ns10:Original2023-01-012023-12-3111098900ns10:Originalns10:Consolidated2023-12-3111098900ns10:Original2023-12-3111098900ns10:Originalns10:ConsolidatedGroupCompanyAccounts2023-01-012023-12-3111098900ns10:Originalns10:PrivateLimitedCompanyLtd2023-01-012023-12-3111098900ns10:Originalns10:Consolidatedns10:SmallEntities2023-01-012023-12-3111098900ns10:Originalns10:Consolidatedns10:Audited2023-01-012023-12-3111098900ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3111098900ns10:SmallCompaniesRegimeForAccountsns10:Original2023-01-012023-12-3111098900ns10:Originalns10:Consolidatedns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3111098900ns10:SmallCompaniesRegimeForAccountsns10:Originalns10:Consolidated2023-01-012023-12-3111098900ns10:Originalns10:FullAccounts2023-01-012023-12-3111098900ns10:Originalns5:Subsidiary12023-01-012023-12-3111098900ns10:Original12023-01-012023-12-3111098900ns10:Originalns10:OrdinaryShareClass12023-01-012023-12-3111098900ns10:Originalns10:Consolidated2023-01-012023-12-3111098900ns10:Originalns10:Director22023-01-012023-12-3111098900ns10:Originalns10:RegisteredOffice2023-01-012023-12-3111098900ns10:Originalns10:Consolidated2022-01-012022-12-3111098900ns10:Original2022-12-3111098900ns10:Originalns5:CurrentFinancialInstruments2023-12-3111098900ns10:Originalns5:CurrentFinancialInstruments2022-12-3111098900ns5:ShareCapitalns10:Original2023-12-3111098900ns5:ShareCapitalns10:Original2022-12-3111098900ns10:Originalns5:SharePremium2023-12-3111098900ns10:Originalns5:SharePremium2022-12-3111098900ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-12-3111098900ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-12-3111098900ns10:Originalns5:NetGoodwill2023-01-012023-12-3111098900ns5:IntangibleAssetsOtherThanGoodwillns10:Original2023-01-012023-12-3111098900ns10:Originalns5:PlantMachinery2023-01-012023-12-3111098900ns10:Originalns5:MotorVehicles2023-01-012023-12-3111098900ns10:Original2022-01-012022-12-3111098900ns10:Originalns5:CostValuation2022-12-3111098900ns10:Originalns5:Subsidiary112023-01-012023-12-3111098900ns10:Originalns5:Subsidiary122023-01-012023-12-3111098900ns5:Securedns10:Original2023-12-3111098900ns5:Securedns10:Original2022-12-3111098900ns10:Originalns10:OrdinaryShareClass12023-12-31

REGISTERED NUMBER: 11098900 (England and Wales)















Report of the Directors and

Audited Consolidated Financial Statements

for the Year Ended 31 December 2023


for


DEARDEN HOLDINGS LIMITED


DEARDEN HOLDINGS LIMITED (REGISTERED NUMBER: 11098900)








Contents of the Consolidated Financial Statements

for the year ended 31 DECEMBER 2023





Page




Company Information  

1




Report of the Directors  

2




Report of the Independent Auditors  

3




Consolidated Statement of Income and Retained Earnings

6




Consolidated Balance Sheet  

7




Company Balance Sheet  

8




Notes to the Consolidated Financial Statements

9





DEARDEN HOLDINGS LIMITED



Company Information

for the year ended 31 DECEMBER 2023









DIRECTORS:

A P Dearden


P A Briggs







REGISTERED OFFICE:

Unit 3 Wellingborough Road


Sywell


Northampton


Northamptonshire


NN6 0BN







REGISTERED NUMBER:

11098900 (England and Wales)







AUDITORS:

Elsby & Co (Sywell) Ltd


Statutory Auditors


Thistledown Barn


Holcot Lane


Sywell


Northampton


Northamptonshire


NN6 0BG


DEARDEN HOLDINGS LIMITED (REGISTERED NUMBER: 11098900)



Report of the Directors

for the year ended 31 DECEMBER 2023


The directors present their report with the financial statements of the company and the group for the year ended 31 December 2023.


DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.


A P Dearden

P A Briggs


STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors 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). 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 the group and of the profit or loss of the group for that 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;

-

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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.


AUDITORS

Appropriate arrangements have been put in place for the auditors,  Elsby & Co (Sywell) Ltd, to be re-appointed as auditor in the absence of an Annual General Meeting.


This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.


ON BEHALF OF THE BOARD:






A P Dearden - Director



28 February 2024


Report of the Independent Auditors to the Members of

Dearden Holdings Limited


Opinion

We have audited the financial statements of Dearden Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.


Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.


In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard.


Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-

the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the Report of the Directors has been prepared in accordance with applicable legal requirements.


Report of the Independent Auditors to the Members of

Dearden Holdings Limited



Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.


We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-

adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-

the parent company financial statements are not in agreement with the accounting records and returns; or

-

certain disclosures of directors' remuneration specified by law are not made; or

-

we have not received all the information and explanations we require for our audit; or

-

the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Directors.


Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.


Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion.  Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:


As part of our audit in accordance with ISAs (UK), we have exercised professional judgment and maintained professional scepticism throughout the audit. We have also:

Assessed the risks of material misstatement whether due to fraud or error and have obtained sufficient and appropriate audit evidence to provide a basis for the opinion.

Obtained an understanding of internal control relevant to the audit in order to design audit procedures that are

appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control.

Evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

Concluded on the appropriateness of the directors' use of the going concern basis of accounting and, based on the

audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern.

Evaluated the overall presentation, structure and content of the financial statements, including the disclosures, and

whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.


Report of the Independent Auditors to the Members of

Dearden Holdings Limited



Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.





Carl Elsby (Senior Statutory Auditor)

for and on behalf of Elsby & Co (Sywell) Ltd

Statutory Auditors

Thistledown Barn

Holcot Lane

Sywell

Northampton

Northamptonshire

NN6 0BG


28 February 2024


DEARDEN HOLDINGS LIMITED (REGISTERED NUMBER: 11098900)



Consolidated

Statement of Income and

Retained Earnings

for the year ended 31 DECEMBER 2023



2023


2022

£   

£   



TURNOVER

11,470,746


10,004,086




Cost of sales

7,733,499


6,999,428



GROSS PROFIT

3,737,247


3,004,658




Administrative expenses

2,669,450


2,269,116



1,067,797


735,542




Other operating income

101,781


44,828



OPERATING PROFIT

1,169,578


780,370




Interest receivable and similar income

1,208


2,718



1,170,786


783,088




Interest payable and similar expenses

3,615


26,935



PROFIT BEFORE TAXATION

1,167,171


756,153




Tax on profit

289,461


154,185



PROFIT FOR THE FINANCIAL YEAR

877,710


601,968




Retained earnings at beginning of year

1,737,398


1,222,975




Dividends

(207,545

)

(87,545

)



RETAINED EARNINGS FOR THE

GROUP AT END OF YEAR

2,407,563


1,737,398




Profit attributable to:

Owners of the parent

877,710


601,968




DEARDEN HOLDINGS LIMITED (REGISTERED NUMBER: 11098900)



Consolidated Balance Sheet

31 DECEMBER 2023



2023

2022



Notes

£   

£   

£   

£   


FIXED ASSETS

Intangible assets

5

158,259


196,429



Tangible assets

6

189,604


205,620



Investments

7

-


-



347,863


402,049




CURRENT ASSETS

Stocks

2,733,897


2,233,860



Debtors

8

1,821,589


1,567,526



Cash at bank and in hand

133,227


4,185



4,688,713


3,805,571



CREDITORS

Amounts falling due within one year

9

1,868,634


1,691,017



NET CURRENT ASSETS

2,820,079


2,114,554



TOTAL ASSETS LESS CURRENT

LIABILITIES

3,167,942


2,516,603




CREDITORS

Amounts falling due after more than one year

10

(23,756

)

(42,880

)



PROVISIONS FOR LIABILITIES

(50,810

)

(50,512

)


NET ASSETS

3,093,376


2,423,211




CAPITAL AND RESERVES

Called up share capital

13

100


100



Share premium

685,713


685,713



Retained earnings

2,407,563


1,737,398



SHAREHOLDERS' FUNDS

3,093,376


2,423,211




The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.


The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:






A P Dearden - Director



DEARDEN HOLDINGS LIMITED (REGISTERED NUMBER: 11098900)



Company Balance Sheet

31 DECEMBER 2023



2023

2022



Notes

£   

£   

£   

£   


FIXED ASSETS

Intangible assets

5

-


-



Tangible assets

6

-


-



Investments

7

2,350,640


2,350,640



2,350,640


2,350,640




CURRENT ASSETS

Cash at bank

278


214




CREDITORS

Amounts falling due within one year

9

15,664


293,821



NET CURRENT LIABILITIES

(15,386

)

(293,607

)


TOTAL ASSETS LESS CURRENT

LIABILITIES

2,335,254


2,057,033




CAPITAL AND RESERVES

Called up share capital

13

100


100



Share premium

685,713


685,713



Retained earnings

1,649,441


1,371,220



SHAREHOLDERS' FUNDS

2,335,254


2,057,033




Company's profit for the financial year

485,766


463,412




The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.  


The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:






A P Dearden - Director



DEARDEN HOLDINGS LIMITED (REGISTERED NUMBER: 11098900)



Notes to the Consolidated Financial Statements

for the year ended 31 DECEMBER 2023


1.

STATUTORY INFORMATION



Dearden Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.


2.

ACCOUNTING POLICIES



Basis of preparing the financial statements


These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.  



Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.


Goodwill


Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.  



Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.  


Plant and machinery

-

20% - 55% on cost


Motor vehicles

-

25% on cost



Stocks


Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.


Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing


stock to its present location and condition.



Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


DEARDEN HOLDINGS LIMITED (REGISTERED NUMBER: 11098900)



Notes to the Consolidated Financial Statements - continued

for the year ended 31 DECEMBER 2023


2.

ACCOUNTING POLICIES - continued


Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.


Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.


Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.


Pension costs and other post-retirement benefits


The group operates a defined contribution pension scheme.  Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.


3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 41 (2022 - 37 ) .


4.

INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME



As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.



DEARDEN HOLDINGS LIMITED (REGISTERED NUMBER: 11098900)



Notes to the Consolidated Financial Statements - continued

for the year ended 31 DECEMBER 2023


5.

INTANGIBLE FIXED ASSETS



Group


Goodwill

£   



COST


At 1 January 2023


and 31 December 2023

381,698




AMORTISATION


At 1 January 2023

185,269




Charge for year

38,170




At 31 December 2023

223,439




NET BOOK VALUE


At 31 December 2023

158,259




At 31 December 2022

196,429




6.

TANGIBLE FIXED ASSETS



Group


Plant and


Motor



machinery


vehicles


Totals

£   

£   

£   



COST


At 1 January 2023

575,865


176,079


751,944




Additions

42,623


43,533


86,156




Disposals

(929

)

-


(929

)



At 31 December 2023

617,559


219,612


837,171




DEPRECIATION


At 1 January 2023

426,148


120,176


546,324




Charge for year

80,583


21,589


102,172




Eliminated on disposal

(929

)

-


(929

)



At 31 December 2023

505,802


141,765


647,567




NET BOOK VALUE


At 31 December 2023

111,757


77,847


189,604




At 31 December 2022

149,717


55,903


205,620





The net book value of tangible fixed assets includes £ 22,925 (2022 - £ 32,095 ) in respect of assets held under hire purchase contracts.


DEARDEN HOLDINGS LIMITED (REGISTERED NUMBER: 11098900)



Notes to the Consolidated Financial Statements - continued

for the year ended 31 DECEMBER 2023


7.

FIXED ASSET INVESTMENTS



Company


Shares in


group


undertakings

£   



COST


At 1 January 2023


and 31 December 2023

2,350,640




NET BOOK VALUE


At 31 December 2023

2,350,640




At 31 December 2022

2,350,640





The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:



Subsidiary



Serenco (UK) Limited


Registered office: Unit 3 Wellingborough Road, Sywell, Northampton, NN6 0BN


Nature of business: Distributor of vehicle parts/tools


%


Class of shares:

holding



Ordinary A

100.00



Ordinary B

100.00




8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR




Group


2023

2022


£   

£   



Trade debtors

1,741,608


1,478,705




Other debtors

79,981


88,821



1,821,589


1,567,526




DEARDEN HOLDINGS LIMITED (REGISTERED NUMBER: 11098900)



Notes to the Consolidated Financial Statements - continued

for the year ended 31 DECEMBER 2023


9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR




Group


Company


2023

2022

2023

2022


£   

£   

£   

£   



Bank loans and overdrafts

69,223


302,991


-


22,463




Hire purchase contracts  (see note 11)

5,235


4,756


-


-




Trade creditors

908,673


734,307


-


-




Amounts owed to group undertakings

-


-


14,613


170,277




Taxation and social security

695,464


460,378


-


-




Other creditors

190,039


188,585


1,051


101,081



1,868,634


1,691,017


15,664


293,821




10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR




Group


2023

2022


£   

£   



Bank loans

-


13,889




Hire purchase contracts  (see note 11)

23,756


28,991



23,756


42,880




11.

LEASING AGREEMENTS



Minimum lease payments fall due as follows:



Group


Hire purchase contracts


2023

2022


£   

£   



Net obligations repayable:


Within one year

5,235


4,756




Between one and five years

23,756


28,991



28,991


33,747





Group


Non-cancellable operating

leases


2023

2022


£   

£   



Within one year

63,452


90,178




Between one and five years

49,362


41,389



112,814


131,567




DEARDEN HOLDINGS LIMITED (REGISTERED NUMBER: 11098900)



Notes to the Consolidated Financial Statements - continued

for the year ended 31 DECEMBER 2023


12.

SECURED DEBTS



The following secured debts are included within the balance sheet:



Group


Company


2023

2022

2023

2022


£   

£   

£   

£   



Bank overdrafts

55,334


-


-


-




Hire purchase contracts

28,991


33,747


-


-




Bank loans

-


22,463


-


22,463




Invoice financing

(132,678

)

224,546


-


-



(48,353

)

280,756


-


22,463





Bank overdrafts are secured by way of a fixed and floating charge over the assets of the group.



There is a cross guarantee in place with Serenco (UK) Limited, a wholly owned subsidiary of Dearden Holdings Limited.



The invoice discounting advance is secured by way of a fixed and floating charge over all book debts and other debts. As at 31 December 2023, the balance was a current asset (2022 current liability) and included in Cash at bank and in hand.



Hire purchase creditors are secured on the assets to which they relate.


13.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

2023

2022



value:

£   

£   



2,000

Ordinary

£0.05

100


100