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COMPANY REGISTRATION NUMBER: 10919738
DENBY GROUP HOLDINGS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 April 2024
DENBY GROUP HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,553,947
1,283,772
Investments
6
5,341
617,304
-------------
-------------
1,559,288
1,901,076
Current assets
Debtors
7
8,440
17,162
Cash at bank and in hand
1,071,869
571,114
-------------
----------
1,080,309
588,276
Creditors: amounts falling due within one year
8
( 113,081)
( 103,167)
-------------
----------
Net current assets
967,228
485,109
-------------
-------------
Total assets less current liabilities
2,526,516
2,386,185
Creditors: amounts falling due after more than one year
9
( 156,707)
Provisions
( 30,057)
( 36,879)
-------------
-------------
Net assets
2,496,459
2,192,599
-------------
-------------
Capital and reserves
Called up share capital
5,341
5,341
Profit and loss account
2,491,118
2,187,258
-------------
-------------
Shareholders funds
2,496,459
2,192,599
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DENBY GROUP HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 12 August 2024 , and are signed on behalf of the board by:
P Denby
Director
Company registration number: 10919738
DENBY GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 73 Sadler Road, Lincoln, Lincolnshire, LN6 3JR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates in and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. Significant judgements There only judgement that management has made in the process of applying the entity's accounting policies is in relation to the classification of Freehold Property in the accounts. They considered whether the properties qualified as investment properties however they concluded that they were not investment properties due to the level of activities provided by the company largely in the form of warehousing and lifting services. Key sources of estimation uncertainty There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line (excluding land)
Equipment
-
50% straight line
Land is not depreciated.
Investments
Investments in subsidiaries are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Fixed asset investments are initially recorded at cost, and subsequently stated at fair value with changes in fair value being recognised in profit or loss. Where a fair value cannot be reliably measured, investments are stated at cost less any accumulated impairment losses.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Freehold property
Equipment
Total
£
£
£
Cost
At 1 May 2023
1,801,045
2,713
1,803,758
Additions
293,676
293,676
-------------
-------
-------------
At 30 April 2024
2,094,721
2,713
2,097,434
-------------
-------
-------------
Depreciation
At 1 May 2023
517,273
2,713
519,986
Charge for the year
23,501
23,501
-------------
-------
-------------
At 30 April 2024
540,774
2,713
543,487
-------------
-------
-------------
Carrying amount
At 30 April 2024
1,553,947
1,553,947
-------------
-------
-------------
At 30 April 2023
1,283,772
1,283,772
-------------
-------
-------------
Included in Land and Buildings is freehold land of £426,404 (2023 - £426,404) which is not depreciated.
6. Investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost
At 1 May 2023
5,341
611,963
617,304
Additions
156,012
156,012
Disposals
( 722,198)
( 722,198)
Revaluations
( 45,777)
( 45,777)
-------
----------
----------
At 30 April 2024
5,341
5,341
-------
----------
----------
Impairment
At 1 May 2023 and 30 April 2024
-------
----------
----------
Carrying amount
At 30 April 2024
5,341
5,341
-------
----------
----------
At 30 April 2023
5,341
611,963
617,304
-------
----------
----------
Investment portfolios are shown at their market value.
7. Debtors
2024
2023
£
£
Trade debtors
6,060
9,600
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,380
7,562
-------
---------
8,440
17,162
-------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
96,270
Trade creditors
68
Corporation tax
18,139
Social security and other taxes
4,616
639
Other creditors
90,326
6,190
----------
----------
113,081
103,167
----------
----------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
156,707
----
----------
10. Related party transactions
The company has taken advantage of the exemption afforded by FRS 102 Section 1A not to disclose details of transactions and balances with other group undertakings where 100% of the share capital is controlled by the group. There were no further transactions with related parties during the year that should be disclosed under FRS 102 Section 1A.
11. Controlling party
The ultimate controlling party is P Denby .