DENDEN INVESTMENTS LIMITED

Company Registration Number:
11283785 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

DENDEN INVESTMENTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

DENDEN INVESTMENTS LIMITED

Balance sheet

As at 31 March 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 442 442
Investments: 4 1,699,807 1,270,843
Total fixed assets: 1,700,249 1,271,285
Current assets
Debtors:   23,770 45,977
Cash at bank and in hand: 702 1,212
Total current assets: 24,472 47,189
Creditors: amounts falling due within one year: 5 (302,625) (298,284)
Net current assets (liabilities): (278,153) (251,095)
Total assets less current liabilities: 1,422,096 1,020,190
Creditors: amounts falling due after more than one year: 6 (645,525) (465,175)
Provision for liabilities: (160,445) (68,773)
Total net assets (liabilities): 616,126 486,242
Capital and reserves
Called up share capital: 2,022 2,022
Share premium account: 1,980 1,980
Profit and loss account: 612,124 482,240
Shareholders funds: 616,126 486,242

The notes form part of these financial statements

DENDEN INVESTMENTS LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 23 December 2023
and signed on behalf of the board by:

Name: AGFL Pun Lai Yuen
Status: Director

The notes form part of these financial statements

DENDEN INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Tangible assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life on a straight line basis at rates of 20-33% per annum.

Valuation and information policy

Gains and losses arising from changes in the fair value of the investments are presented in the profit and loss account in the period in which they arise. The fair value of alternative investments has been estimated using net asset value as reported by the management of the investment entities ("fund managers"). The fund managers makes estimates and assumptions concerning the fair value of investments not quoted in an active market. Such investments are determined by using valuation techniques, for example, earnings multiples or discounted cash flow models. The fair value of investments is determined with reference to International Private Equity and Venture Capital Valuation Guidelines (“IPEVG”). Foreign exchange gains and losses arising from the re-translation of the value of investment are included in P&L account. Any fair value gain/(loss) on investments is recorded in the P&L account. When an investment is disposed of, the cumulative gain or loss previously accumulated in the unrealised gain/loss and unrealised foreign exchange gain/loss investment accounts is reclassified to realised gains and losses. Realised gains and losses are recognised with reference to the original acquisition cost of an investment.

Other accounting policies

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Where there is no material difference in fair value compared to amortised cost using the effective interest rate method, the company adopts a simplified approach whereby the loans and borrowings are measured at principal amount outstanding plus accrued interest. The company has adopted the provisions of FRS 102 paragraph 11.13A(a) in that if it receives an interest-free loan from a person who is within a director’s group of close family members, when that group contains at least one shareholder, then these balances are initially recorded at transaction price. Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items (including fixed assets investments) are translated using the closing rate. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets (including fixed assets investments) and liabilities denominated in foreign currencies are recognised in the profit and loss account. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within ‘Interest payable and similar charges’. All other foreign exchange gains and losses are presented in the profit and loss account within ‘Gains/(Loss) on investments at fair value through profit and loss’. Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences.

DENDEN INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

2023 2022
Average number of employees during the period 1 1

DENDEN INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible Assets

Total
Cost £
At 01 April 2022 1,151
Additions 274
At 31 March 2023 1,425
Depreciation
At 01 April 2022 709
Charge for year 274
At 31 March 2023 983
Net book value
At 31 March 2023 442
At 31 March 2022 442

DENDEN INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Fixed investments

The principal activity of the company is to invest in investment funds. These are valued on the balance sheet at fair value in accordance with the company’s valuation policy.

DENDEN INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Creditors: amounts falling due within one year note

Creditors include loans totalling £292,778 (2022: £277,123) which are secured by way of a fixed charge over the current and future assets of the partnerships in which the company has invested and the lender has also obtained a personal guarantee from a director of the company.

DENDEN INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Creditors: amounts falling due after more than one year note

Creditors include an interest free loan of £645,525 (2022: £465,175) from one of the directors. The loan is repayable in April 2029.

DENDEN INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

7. Related party transactions

Name of the related party:
Relationship:
Director
Description of the Transaction: During the period a director advanced an interest-free loan of £645,525 (2022: £465,175) to the company. In addition, a director of the company has provided a personal guarantee to a lender to the company.
£
Balance at 01 April 2022 465,175
Balance at 31 March 2023 645,525