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REGISTERED NUMBER: 03978905 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

DENBANK PROPERTY COMPANY LIMITED

DENBANK PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 03978905)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DENBANK PROPERTY COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A J Revitt
C J Revitt



SECRETARY: C J Revitt



REGISTERED OFFICE: Copia House
Great Cliffe Court
Great Cliffe Road
Barnsley
South Yorkshire
S75 3SP



REGISTERED NUMBER: 03978905 (England and Wales)



ACCOUNTANTS: Reed Smith Associates Limited
Copia House
Great Cliffe Court
Great Cliffe Road
Barnsley
South Yorkshire
S75 3SP



BANKERS: Svenska Handelsbanken AB
Unit G, First Floor
The Point
Bradmarsh Way
Rotherham
South Yorkshire
S60 1BP

DENBANK PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 03978905)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 - 217
Investment property 5 1,367,500 1,332,500
1,367,500 1,332,717

CURRENT ASSETS
Debtors 6 187,243 212,670
Cash at bank 2,979 23,514
190,222 236,184
CREDITORS
Amounts falling due within one year 7 13,002 11,874
NET CURRENT ASSETS 177,220 224,310
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,544,720

1,557,027

CREDITORS
Amounts falling due after more than one
year

8

(866,993

)

(869,936

)

PROVISIONS FOR LIABILITIES (112,995 ) (115,307 )
NET ASSETS 564,732 571,784

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 564,730 571,782
SHAREHOLDERS' FUNDS 564,732 571,784

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

DENBANK PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 03978905)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2024 and were signed on its behalf by:




A J Revitt - Director



C J Revitt - Director


DENBANK PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 03978905)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Denbank Property Company 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. 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 the invoiced amounts of rents receivable

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Office and computer equipment - 25% on cost

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

DENBANK PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 03978905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. PROPERTY, PLANT AND EQUIPMENT
Office
Fixtures and
and computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 18,157 3,693 21,850
DEPRECIATION
At 1 April 2023 17,940 3,693 21,633
Charge for year 217 - 217
At 31 March 2024 18,157 3,693 21,850
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 217 - 217

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,332,500
Additions 11,920
Revaluations 23,080
At 31 March 2024 1,367,500
NET BOOK VALUE
At 31 March 2024 1,367,500
At 31 March 2023 1,332,500

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2011 748,313
Valuation in 2012 (6,325 )
Valuation in 2015 (70,000 )
Valuation in 2016 (15,982 )
Valuation in 2018 53,340
Valuation in 2020 3,735
Valuation in 2021 (10,131 )
Valuation in 2022 11,235
Valuation in 2023 25,100
Valuation in 2024 23,080
Cost 605,135
1,367,500

DENBANK PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 03978905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INVESTMENT PROPERTY - continued

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

31.3.24 31.3.23
£    £   
Cost 605,135 593,215

The properties were valued by the directors on an open market basis on 31 March 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Rents receivable 646 482
Directors' current accounts 129,498 155,160
Section 419 tax 39,270 39,270
Prepayments and other debtors 17,829 17,758
187,243 212,670

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 3,593 4,415
Taxation and social security 623 451
Other creditors 8,786 7,008
13,002 11,874

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 866,993 869,936

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after more than 5 years 133,958 136,657

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 870,586 874,351

DENBANK PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 03978905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
A J Revitt
Balance outstanding at start of year 77,580 77,641
Amounts repaid (12,831 ) (61 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 64,749 77,580

C J Revitt
Balance outstanding at start of year 77,580 77,641
Amounts repaid (12,831 ) (61 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 64,749 77,580

11. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors Mr A J Revitt and Mrs C J Revitt by virtue of their controlling shareholding.