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REGISTERED NUMBER: 05318204 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Dennis Harley Developments Ltd

Dennis Harley Developments Ltd (Registered number: 05318204)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dennis Harley Developments Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: J D Harley





SECRETARY: Mrs R A Harley-Rodgers





REGISTERED OFFICE: 14 Halegrove Court Cygnet Drive
Bowesfield Park
Stockton-On-Tees
Cleveland
TS18 3DB





REGISTERED NUMBER: 05318204 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Dennis Harley Developments Ltd (Registered number: 05318204)

Balance Sheet
31 March 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 262,529 221,751
Investments 5 7,596,836 5,900,000
Investment property 6 15,001,950 13,834,000
22,861,315 19,955,751

CURRENT ASSETS
Debtors 7 3,095,412 2,932,528
Cash at bank and in hand 29,633 110,794
3,125,045 3,043,322
CREDITORS
Amounts falling due within one year 8 3,402,628 2,630,916
NET CURRENT (LIABILITIES)/ASSETS (277,583 ) 412,406
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,583,732

20,368,157

CREDITORS
Amounts falling due after more than one
year

9

(1,393,429

)

(2,834,183

)

PROVISIONS FOR LIABILITIES (3,952,000 ) (2,451,979 )
NET ASSETS 17,238,303 15,081,995

CAPITAL AND RESERVES
Called up share capital 11 100 100
Un-distributable reserve 12 11,856,903 10,316,097
Retained earnings 5,381,300 4,765,798
SHAREHOLDERS' FUNDS 17,238,303 15,081,995

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

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

The director acknowledges his 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 Harley Developments Ltd (Registered number: 05318204)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 August 2024 and were signed by:





J D Harley - Director


Dennis Harley Developments Ltd (Registered number: 05318204)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Dennis Harley Developments Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income and service charges earned in the period and recharge of utilities, exclusive of value added tax.

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.
Long leasehold - 1% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Investments in associates
Investments in associates are measured at fair value using the net assets from the latest financial statements. Changes in fair value are recognised in profit or loss and held in an un-distributable reserve within equity.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss and held in an un-distributable reserve within equity.

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 balance sheet date.

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.

Dennis Harley Developments Ltd (Registered number: 05318204)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets acquired under hire purchase contracts or finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. The interest element is charged to the profit or loss over the relevant period. The related obligations, net of future finance charges, are included in creditors.

Loans and borrowings
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.

Debtors and creditors receivable/payable within one year
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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Long Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 180,598 32,000 94,041 12,607 319,246
Additions - - 65,185 - 65,185
At 31 March 2023 180,598 32,000 159,226 12,607 384,431
DEPRECIATION
At 1 April 2022 25,284 13,928 47,578 10,705 97,495
Charge for year 1,806 3,615 18,358 628 24,407
At 31 March 2023 27,090 17,543 65,936 11,333 121,902
NET BOOK VALUE
At 31 March 2023 153,508 14,457 93,290 1,274 262,529
At 31 March 2022 155,314 18,072 46,463 1,902 221,751

Dennis Harley Developments Ltd (Registered number: 05318204)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 15,500 94,041 109,541
Additions - 65,185 65,185
Transfer to ownership - (44,046 ) (44,046 )
At 31 March 2023 15,500 115,180 130,680
DEPRECIATION
At 1 April 2022 3,047 47,578 50,625
Charge for year 2,438 14,947 17,385
Transfer to ownership - (30,405 ) (30,405 )
At 31 March 2023 5,485 32,120 37,605
NET BOOK VALUE
At 31 March 2023 10,015 83,060 93,075
At 31 March 2022 12,453 46,463 58,916

5. FIXED ASSET INVESTMENTS
Interest
in
associate
undertaking
£   
COST OR VALUATION
At 1 April 2022 5,900,000
Revaluations 1,696,836
At 31 March 2023 7,596,836
NET BOOK VALUE
At 31 March 2023 7,596,836
At 31 March 2022 5,900,000

Dennis Harley Developments Ltd (Registered number: 05318204)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 March 2023 is represented by:

Interest
in
associate
undertaking
£   
Valuation in 2018 1,499,499
Valuation in 2019 2,250,000
Valuation in 2020 550,000
Valuation in 2021 650,000
Valuation in 2022 950,000
Valuation in 2023 1,696,836
Cost 501
7,596,836

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
as restated
£    £   
Cost 501 501

Fixed asset investments were valued on an open market basis on 31 March 2023 by the director .

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 13,834,000
Disposals (542,857 )
Revaluations 1,710,807
At 31 March 2023 15,001,950
NET BOOK VALUE
At 31 March 2023 15,001,950
At 31 March 2022 13,834,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
as restated

Cost 6,789,749 6,966,276

Dennis Harley Developments Ltd (Registered number: 05318204)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 43,994 224,775
Amounts owed by associates 2,498,765 2,414,096
Other debtors 552,653 293,657
3,095,412 2,932,528

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 1,467,382 667,949
Hire purchase contracts 30,406 16,702
Trade creditors 55,949 30,688
Amounts owed to associates 7,169 -
Taxation and social security 272,415 263,507
Other creditors 1,569,307 1,652,070
3,402,628 2,630,916

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
as restated
£    £   
Bank loans 1,337,893 2,805,275
Hire purchase contracts 55,536 28,908
1,393,429 2,834,183

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 702,300 721,065

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
as restated
£    £   
Bank loans 2,805,275 3,473,224
Hire purchase contracts 85,942 45,610
2,891,217 3,518,834

The bank borrowings are secured by fixed and floating charges over the assets of the company.

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

Dennis Harley Developments Ltd (Registered number: 05318204)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as restated
£    £   
100 Ordinary £1 100 100

12. RESERVES
Un-distributable
reserve
£   
At 1 April 2022 10,316,097
Transfer unrealised gain/loss 3,041,313
Transfer deferred tax (1,500,507 )

At 31 March 2023 11,856,903

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the company advanced £24,964 to its director (2022 - £Nil). During the year the director repaid £Nil (2022 - £Nil) leaving an amount owed to the company at the year end of £24.964 (2022 - £Nil). No interest has been charged on the loans and amounts are repayable on demand.