IRIS Accounts Production v23.4.0.336 00309938 Board of Directors Board of Directors 1.9.22 31.8.23 31.8.23 false true false false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh003099382022-08-31003099382023-08-31003099382022-09-012023-08-31003099382021-08-31003099382021-09-012022-08-31003099382022-08-3100309938ns15:EnglandWales2022-09-012023-08-3100309938ns14:PoundSterling2022-09-012023-08-3100309938ns10:Director12022-09-012023-08-3100309938ns10:Director22022-09-012023-08-3100309938ns10:PrivateLimitedCompanyLtd2022-09-012023-08-3100309938ns10:SmallEntities2022-09-012023-08-3100309938ns10:AuditExempt-NoAccountantsReport2022-09-012023-08-3100309938ns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-3100309938ns10:SmallCompaniesRegimeForAccounts2022-09-012023-08-3100309938ns10:FullAccounts2022-09-012023-08-3100309938ns5:Associate12022-09-012023-08-3100309938ns5:Associate22022-09-012023-08-3100309938ns10:OrdinaryShareClass12022-09-012023-08-3100309938ns10:CompanySecretary12022-09-012023-08-3100309938ns10:RegisteredOffice2022-09-012023-08-3100309938ns5:CurrentFinancialInstruments2023-08-3100309938ns5:CurrentFinancialInstruments2022-08-3100309938ns5:ShareCapital2023-08-3100309938ns5:ShareCapital2022-08-3100309938ns5:RetainedEarningsAccumulatedLosses2023-08-3100309938ns5:RetainedEarningsAccumulatedLosses2022-08-3100309938ns5:LandBuildings2022-08-3100309938ns5:PlantMachinery2022-08-3100309938ns5:ComputerEquipment2022-08-3100309938ns5:LandBuildings2022-09-012023-08-3100309938ns5:PlantMachinery2022-09-012023-08-3100309938ns5:ComputerEquipment2022-09-012023-08-3100309938ns5:LandBuildings2023-08-3100309938ns5:PlantMachinery2023-08-3100309938ns5:ComputerEquipment2023-08-3100309938ns5:LandBuildings2022-08-3100309938ns5:PlantMachinery2022-08-3100309938ns5:ComputerEquipment2022-08-3100309938ns5:CostValuation2023-08-31003099381ns5:Associate12022-09-012023-08-3100309938ns5:Associate12023-08-3100309938ns5:Associate12022-08-3100309938ns5:Associate12021-09-012022-08-3100309938ns5:Associate232022-09-012023-08-3100309938ns5:Associate22023-08-3100309938ns5:Associate22022-08-3100309938ns5:Associate22021-09-012022-08-3100309938ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-3100309938ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-08-3100309938ns10:OrdinaryShareClass12023-08-31
REGISTERED NUMBER: 00309938 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

DENNIS REED LIMITED

DENNIS REED LIMITED (REGISTERED NUMBER: 00309938)

Contents of the Financial Statements
for the year ended 31 August 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DENNIS REED LIMITED

Company Information
for the year ended 31 August 2023







DIRECTORS: Mr T Q Leigh
Lord Leigh of Hurley





SECRETARY: Lord Leigh of Hurley





REGISTERED OFFICE: 172 Greenford Road
Harrow
Middlesex
HA1 3QZ





REGISTERED NUMBER: 00309938 (England and Wales)





ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

DENNIS REED LIMITED (REGISTERED NUMBER: 00309938)

Statement of Financial Position
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 49,264 51,392
Investments 6 28,964 28,964
78,228 80,356

CURRENT ASSETS
Debtors 7 7,596,600 5,449,864
Cash at bank 4,914 8,254
7,601,514 5,458,118
CREDITORS
Amounts falling due within one year 8 4,702,178 2,571,495
NET CURRENT ASSETS 2,899,336 2,886,623
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,977,564

2,966,979

CAPITAL AND RESERVES
Called up share capital 10 50,000 50,000
Retained earnings 2,927,564 2,916,979
SHAREHOLDERS' FUNDS 2,977,564 2,966,979

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DENNIS REED LIMITED (REGISTERED NUMBER: 00309938)

Statement of Financial Position - continued
31 August 2023


The 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2024 and were signed on its behalf by:




Mr T Q Leigh - Director



Lord Leigh of Hurley - Director


DENNIS REED LIMITED (REGISTERED NUMBER: 00309938)

Notes to the Financial Statements
for the year ended 31 August 2023


1. STATUTORY INFORMATION

Dennis Reed 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 Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the total amount receivable, net of value added tax, for services provided in the ordinary course of business during the year.

Property, plant and equipment
Property, plant and equipment are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all property, plant and equipment, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows;

Plant and equipment - 10% on reducing balance/33.33% on cost
Fixtures and fittings - 25% on reducing balance


The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Investments in associates
Investments in associate undertakings are recognised at cost.

DENNIS REED LIMITED (REGISTERED NUMBER: 00309938)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets

Trade and other debtors, amounts owed by related undertakings, cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities

Trade and other creditors, directors' current accounts and accruals are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Equity instrument
The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

DENNIS REED LIMITED (REGISTERED NUMBER: 00309938)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


3. ACCOUNTING POLICIES - continued

Investment property
Freehold investment properties are stated at cost less provision, where necessary, for permanent diminution in value. This is not in accordance with FRS102 1A which requires investment properties to be stated at their fair value or depreciated cost. No valuations have been carried out and accordingly it is not possible to quantify the effect on the net assets at the current or previous balance sheet date, or the effect on the total comprehensive income for the current or previous period.

Investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value. For listed investments, market value is based on the closing middle market price on a recognised stock exchange.

UK dividends receivable are recognised on an accruals basis and are credited to the profit and loss account, net of attributable tax credits.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Investment Plant & Fixtures
properties equipment & fittings Totals
£    £    £    £   
COST
At 1 September 2022
and 31 August 2023 32,057 83,529 1,716 117,302
DEPRECIATION
At 1 September 2022 - 64,194 1,716 65,910
Charge for year - 2,128 - 2,128
At 31 August 2023 - 66,322 1,716 68,038
NET BOOK VALUE
At 31 August 2023 32,057 17,207 - 49,264
At 31 August 2022 32,057 19,335 - 51,392

DENNIS REED LIMITED (REGISTERED NUMBER: 00309938)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


6. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 September 2022
and 31 August 2023 28,964
NET BOOK VALUE
At 31 August 2023 28,964
At 31 August 2022 28,964

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Associated companies

Dependable Properties Limited
Registered office:
Nature of business: Investment in property and land
%
Class of shares: holding
Ordinary shares 40.00
31.8.23 31.8.22
£    £   
Aggregate capital and reserves 3,937,646 3,818,861
Profit for the year 118,785 98,807

Dependable Homes Limited
Registered office:
Nature of business: Property development and trading, and investment
%
Class of shares: holding
Ordinary shares 49.90
31.8.23 31.8.22
£    £   
Aggregate capital and reserves 6,031,358 5,833,110
Profit for the year 244,913 205,933

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 55,803 21,159
Amounts owed by related undertakings 7,057,421 5,028,892
Other debtors 459,655 380,592
Prepayments and accrued income 23,721 19,221
7,596,600 5,449,864

DENNIS REED LIMITED (REGISTERED NUMBER: 00309938)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to related undertakings 3,460,595 1,716,757
Amounts owed to associated undertakings 860,945 812,666
Corporation tax 2,969 10,977
Other creditors 377,669 31,095
4,702,178 2,571,495

9. FINANCIAL INSTRUMENTS

The company has the following financial instruments:
2023 2022
£ £

- Trade debtors 55,803 21,159
- Amounts owed by related undertakings 7,057,421 5,028,892
- Other debtors 459,655 380,592
- Prepayments and accrued income 23,721 19,221
7,596,600 5,449,864

Financial liabilities measured at amortised cost:
2023 2022
£ £

- Amounts owed to related undertakings 3,460,595 1,716,757
- Amounts owed to associated undertakings 860,945 812,666
- Corporation tax 2,969 10,977
- Other creditors 377,669 31,095
4,702,178 2,571,495





10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50,000 Ordinary £1 50,000 50,000

DENNIS REED LIMITED (REGISTERED NUMBER: 00309938)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


11. RELATED PARTY DISCLOSURES

At the balance sheet date an amount of £500,065 (2022: £23,610) was owed to Dependable Homes Limited an associated undertakings. These balances are unsecured, interest-free and have no fixed repayment date.

At the balance sheet date an amount of £6,903,307 (2022: £6,864,455) was owed by Craig Properties 2012 LLC companies under common control. These balances are unsecured, interest-free and have no fixed repayment date.

At the balance sheet date an amount of £373,897 (2022: £1,115,669) was owed to Craig & Company (Properties) Limited companies under common control. These balances are unsecured, interest-free and have no fixed repayment date.

At the balance sheet date an amount of £100,000 (2022: £100,000) was owed to trusts in which H D Leigh and T Q Leigh, directors, are trustees. This amount is unsecured and has no fixed repayment date. Interest of £8,291 (2022: £5,031) was paid in the current year.

At the balance sheet date an amount of £162,971 (2022: £162,971) was owed to trusts in which H D Leigh and T Q Leigh, directors, are trustees. This amount is unsecured, interest-free and has no fixed repayment date.

At the balance sheet date an amount of £Nil (2022: £37,028) was owed to a partnership owned and controlled by T Q Leigh and H D Leigh, who are directors. This balance is unsecured, interest-free and has no fixed repayment date.

At the balance sheet date an amount of £360,880 (2022: £789,056) was owed to Dependable Properties Limited an associated undertakings. These balances are unsecured, interest-free and have no fixed repayment date.