Caseware UK (AP4) 2023.0.135 2023.0.135 2022-07-0116trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity17true 00130566 2022-07-01 2023-06-30 00130566 2021-07-01 2022-06-30 00130566 2023-06-30 00130566 2022-06-30 00130566 c:Director2 2022-07-01 2023-06-30 00130566 c:Director4 2022-07-01 2023-06-30 00130566 d:Buildings 2022-07-01 2023-06-30 00130566 d:Buildings 2023-06-30 00130566 d:Buildings 2022-06-30 00130566 d:Buildings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 00130566 d:PlantMachinery 2022-07-01 2023-06-30 00130566 d:PlantMachinery 2023-06-30 00130566 d:PlantMachinery 2022-06-30 00130566 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 00130566 d:MotorVehicles 2022-07-01 2023-06-30 00130566 d:MotorVehicles 2023-06-30 00130566 d:MotorVehicles 2022-06-30 00130566 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 00130566 d:FurnitureFittings 2022-07-01 2023-06-30 00130566 d:FurnitureFittings 2023-06-30 00130566 d:FurnitureFittings 2022-06-30 00130566 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 00130566 d:OfficeEquipment 2022-07-01 2023-06-30 00130566 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 00130566 d:Goodwill 2022-07-01 2023-06-30 00130566 d:Goodwill 2023-06-30 00130566 d:Goodwill 2022-06-30 00130566 d:FreeholdInvestmentProperty 2023-06-30 00130566 d:FreeholdInvestmentProperty 2022-06-30 00130566 d:FreeholdInvestmentProperty 2 2022-07-01 2023-06-30 00130566 d:CurrentFinancialInstruments 2023-06-30 00130566 d:CurrentFinancialInstruments 2022-06-30 00130566 d:Non-currentFinancialInstruments 2023-06-30 00130566 d:Non-currentFinancialInstruments 2022-06-30 00130566 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 00130566 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 00130566 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 00130566 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 00130566 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 00130566 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-30 00130566 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 00130566 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-30 00130566 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 00130566 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-06-30 00130566 d:ShareCapital 2023-06-30 00130566 d:ShareCapital 2022-06-30 00130566 d:CapitalRedemptionReserve 2022-07-01 2023-06-30 00130566 d:CapitalRedemptionReserve 2023-06-30 00130566 d:CapitalRedemptionReserve 2022-06-30 00130566 d:RevaluationReserve 2022-07-01 2023-06-30 00130566 d:RevaluationReserve 2023-06-30 00130566 d:RevaluationReserve 2022-06-30 00130566 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 00130566 d:RetainedEarningsAccumulatedLosses 2023-06-30 00130566 d:RetainedEarningsAccumulatedLosses 2022-06-30 00130566 c:FRS102 2022-07-01 2023-06-30 00130566 c:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 00130566 c:FullAccounts 2022-07-01 2023-06-30 00130566 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 00130566 d:Subsidiary1 2022-07-01 2023-06-30 00130566 d:Subsidiary1 1 2022-07-01 2023-06-30 00130566 d:Subsidiary2 2022-07-01 2023-06-30 00130566 d:Subsidiary2 1 2022-07-01 2023-06-30 00130566 2 2022-07-01 2023-06-30 00130566 6 2022-07-01 2023-06-30 00130566 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-30 00130566 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-06-30 00130566 d:LeasedAssetsHeldAsLessee 2023-06-30 00130566 d:LeasedAssetsHeldAsLessee 2022-06-30 00130566 f:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 00130566










T. Denne and Sons (Holdings) Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 June 2023





 
T. Denne and Sons (Holdings) Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of T. Denne and Sons (Holdings) Limited for the year ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of T. Denne and Sons (Holdings) Limited for the year ended 30 June 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of T. Denne and Sons (Holdings) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of T. Denne and Sons (Holdings) Limited  and state those matters that we have agreed to state to the Board of directors of T. Denne and Sons (Holdings) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than T. Denne and Sons (Holdings) Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that T. Denne and Sons (Holdings) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of T. Denne and Sons (Holdings) Limited. You consider that T. Denne and Sons (Holdings) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of T. Denne and Sons (Holdings) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
Montague Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QU
19 January 2024
Page 1

 
T. Denne and Sons (Holdings) Limited
Registered number: 00130566

Balance sheet
As at 30 June 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1
1

Tangible assets
 5 
1,504,049
1,421,369

Investments
 6 
16,000
16,000

Investment property
 7 
2,391,322
2,443,822

  
3,911,372
3,881,192

Current assets
  

Stocks
 8 
508,940
411,903

Debtors: amounts falling due within one year
 9 
554,792
786,757

Cash at bank and in hand
 10 
89,978
57,442

  
1,153,710
1,256,102

Creditors: amounts falling due within one year
 11 
(1,822,491)
(1,907,741)

Net current liabilities
  
 
 
(668,781)
 
 
(651,639)

Total assets less current liabilities
  
3,242,591
3,229,553

Creditors: amounts falling due after more than one year
 12 
(372,329)
(380,736)

Provisions for liabilities
  

Deferred tax
  
(182,860)
(166,319)

  
 
 
(182,860)
 
 
(166,319)

Net assets
  
2,687,402
2,682,498


Capital and reserves
  

Called up share capital 
  
99,594
99,594

Revaluation reserve
 14 
1,273,260
1,326,235

Capital redemption reserve
 14 
26,002
26,002

Profit and loss account
 14 
1,288,546
1,230,667

  
2,687,402
2,682,498


Page 2

 
T. Denne and Sons (Holdings) Limited
Registered number: 00130566

Balance sheet (continued)
As at 30 June 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 January 2024.




C C Denne
F D H Denne
Director
Director

The notes on pages 4 to 14 form part of these financial statements.

Page 3

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2023

1.


General information

T Denne and Sons (Holdings) Limited is a limited liability company incorporated in England and Wales.  The address of the registered office and the principal place of business is Whitehill, Bilting, Kent, TN25 4HB.  The principal activities during the year were that of grain and bean merchanting and related services, together with property management.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts.  These financial statements therefore present information about the company as an individual undertaking and not about its group.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Turnover also comprises rental income receivable.

Page 4

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

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

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.


Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 6

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2023

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
Property not depreciated / Solar Panels depreciated over 20 years
Motor vehicles
-
Over 5 years
Plant, fixtures and fittings
-
Between 4 and 10 years
Office and computer equipment
-
Over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 7

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2023

2.Accounting policies (continued)

 
2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.19

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is
Page 8

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2023

2.Accounting policies (continued)


2.19
Financial instruments (continued)

due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.20

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2022 - 17).


4.


Intangible assets




Goodwill

£



Cost


At 1 July 2022
1



At 30 June 2023

1






Net book value



At 30 June 2023
1



At 30 June 2022
1



Page 9

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2023

5.


Tangible fixed assets





Freehold property
Plant, fixtures and fittings
Motor vehicles
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 July 2022
1,076,504
1,065,325
123,506
24,027
2,289,362


Additions
79,633
120,536
-
1,591
201,760


Disposals
-
-
(3,001)
-
(3,001)



At 30 June 2023

1,156,137
1,185,861
120,505
25,618
2,488,121



Depreciation


At 1 July 2022
25,472
741,617
82,178
18,726
867,993


Charge for the year on owned assets
6,796
85,792
22,099
1,992
116,679


Disposals
-
-
(600)
-
(600)



At 30 June 2023

32,268
827,409
103,677
20,718
984,072



Net book value



At 30 June 2023
1,123,869
358,452
16,828
4,900
1,504,049



At 30 June 2022
1,051,032
323,708
41,328
5,301
1,421,369

Page 10

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2023

           5.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
-
10,950

-
10,950


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2022
16,000



At 30 June 2023
16,000





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Class of shares

Holding

T. Denne and Sons Limited
Ordinary
-
100%
-
M. Hancock & Son Limited
Ordinary
-
100%
-

The aggregate of the share capital and reserves as at 30 June 2023 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

T. Denne and Sons Limited
1,000
-

M. Hancock & Son Limited
15,000
-

Page 11

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2023

7.


Investment property


Freehold investment property

£



Valuation


At 1 July 2022
2,443,822


Deficit on revaluation
(52,500)



At 30 June 2023
2,391,322

The 2023 valuations were made by the directors, on an open market value for existing use basis.







8.


Stocks

2023
2022
£
£

Raw materials and consumables
508,940
411,903



9.


Debtors

2023
2022
£
£


Trade debtors
425,741
690,015

Other debtors
7,839
6,485

Prepayments and accrued income
121,212
90,257

554,792
786,757



10.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
89,978
57,442

Less: bank overdrafts
(506,443)
(608,351)

(416,465)
(550,909)


Page 12

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2023

11.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
506,443
608,351

Bank loans
63,005
82,399

Trade creditors
956,981
903,776

Amounts owed to group undertakings
15,999
15,999

Other taxation and social security
32,238
32,356

Obligations under finance lease and hire purchase contracts
-
5,964

Other creditors
221,245
230,164

Accruals and deferred income
26,580
28,732

1,822,491
1,907,741



12.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
372,329
380,736

372,329
380,736


Secured loans
The bank loans and overdraft are secured by first legal charges over certain assets.


13.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
63,005
82,399

Amounts falling due 1-2 years

Bank loans
63,727
55,943

Amounts falling due 2-5 years

Bank loans
178,001
164,334

Amounts falling due after more than 5 years

Bank loans
130,601
160,458

435,334
463,134


Page 13

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2023

14.


Reserves

Revaluation reserve

This reserve comprises the revaluation of investment properties less a provision for deferred tax in the event of disposal.  The reserve is non-distributable.

Capital redemption reserve

This reserve relates to the buy back of shares and is non-distributable.

Profit and loss account

This reserve comprises all current and prior period retained distributable profits and losses after deducting any distributions made to the company's shareholders.


15.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £23,762 (2022 - £41,157). Contributions totalling £3,217 (2022 - £3,158) were payable to the fund at the balance sheet date and are included in creditors.


16.


Controlling party

The ultimate parent undertaking is T Denne and Sons Group (Holdings) Limited.


Page 14