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REGISTERED NUMBER: 01114861 (England and Wales)






Denykem Limited

Financial Statements

for the Year Ended 31 December 2023






Denykem Limited (Registered number: 01114861)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Denykem Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: Ms A J Stoner
Mrs M McGee
Mr P Stoner





SECRETARY: Ms A J Stoner





REGISTERED OFFICE: Unit 1
Wakefield Road
Ossett
West Yorkshire
WF5 9JA





REGISTERED NUMBER: 01114861 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Denykem Limited (Registered number: 01114861)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 469,031 498,776
Investments 5 2,430 2,319
Investment property 6 1,220,000 1,220,000
1,691,461 1,721,095

CURRENT ASSETS
Stocks 182,091 281,700
Debtors 7 201,048 155,740
Cash at bank and in hand 41,528 81,549
424,667 518,989
CREDITORS
Amounts falling due within one year 8 194,110 155,401
NET CURRENT ASSETS 230,557 363,588
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,922,018

2,084,683

PROVISIONS FOR LIABILITIES 179,376 136,326
NET ASSETS 1,742,642 1,948,357

Denykem Limited (Registered number: 01114861)

Balance Sheet - continued
31 December 2023

2023 2022
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 9 144 144
Retained earnings 10 1,742,498 1,948,213
SHAREHOLDERS' FUNDS 1,742,642 1,948,357

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





Ms A J Stoner - Director


Denykem Limited (Registered number: 01114861)

Notes to the Financial Statements
for the year ended 31 December 2023


1. STATUTORY INFORMATION

Denykem 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.

The company's functional and presentation currency is the pound sterling £. All financial information presented has been rounded to the nearest £, unless otherwise stated.

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 net invoiced sales of goods, excluding value added tax, but including carriage charges and after making appropriate provisions for foreign exchange rate losses and gains.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance and 10% on reducing balance
Motor vehicles - 25% on reducing balance

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.

Listed investments
All listed investments are valued at their current market value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes materials, direct labour and an attributable portion of manufacturing overheads based on normal levels of activity. Net realisable value is based on estimated selling price less further costs expected to be incurred to completion and disposal.

Denykem Limited (Registered number: 01114861)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when; a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or, c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

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 taxation
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The assets of the scheme are held separately from those of the company in independently administered funds.

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Denykem Limited (Registered number: 01114861)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
COST
At 1 January 2023 867,104 356,062 21,462
Additions - 1,827 158
Disposals - (62,127 ) (4,587 )
At 31 December 2023 867,104 295,762 17,033
DEPRECIATION
At 1 January 2023 472,173 273,811 15,864
Charge for year 13,344 8,232 566
Eliminated on disposal - (57,315 ) (4,014 )
At 31 December 2023 485,517 224,728 12,416
NET BOOK VALUE
At 31 December 2023 381,587 71,034 4,617
At 31 December 2022 394,931 82,251 5,598

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 January 2023 77,029 38,851 1,360,508
Additions - - 1,985
Disposals - (4,965 ) (71,679 )
At 31 December 2023 77,029 33,886 1,290,814
DEPRECIATION
At 1 January 2023 65,674 34,210 861,732
Charge for year 2,844 1,164 26,150
Eliminated on disposal - (4,770 ) (66,099 )
At 31 December 2023 68,518 30,604 821,783
NET BOOK VALUE
At 31 December 2023 8,511 3,282 469,031
At 31 December 2022 11,355 4,641 498,776

Included in cost of land and buildings is freehold land of £ 200,000 (2022 - £ 200,000 ) which is not depreciated.

Denykem Limited (Registered number: 01114861)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


5. FIXED ASSET INVESTMENTS
Listed
investments
£
COST OR VALUATION
At 1 January 2023 2,319
Revaluations 111
At 31 December 2023 2,430
NET BOOK VALUE
At 31 December 2023 2,430
At 31 December 2022 2,319

Cost or valuation at 31 December 2023 is represented by:

Listed
investments
£
Valuation in 2016 (3,820 )
Valuation in 2018 (904 )
Valuation in 2019 562
Valuation in 2020 (1,356 )
Valuation in 2021 538
Valuation in 2022 (161 )
Valuation in 2023 111
Cost 7,460
2,430

The quoted investments are held with Lloyds Bank.

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,220,000
NET BOOK VALUE
At 31 December 2023 1,220,000
At 31 December 2022 1,220,000

The investment property was last valued by the directors in January 2021 based on obtaining appropriate professional guidance. The directors are of the opinion that the valuation remains appropriate as at 31 December 2023.

Denykem Limited (Registered number: 01114861)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


6. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£
Valuation in 2015 236,094
Valuation in 2019 10,311
Valuation in 2020 (3,750 )
Valuation in 2021 595,000
Cost 382,345
1,220,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 198,745 151,629
Other debtors - 18
Tax - 1,595
VAT 900 554
Prepayments and accrued income 1,403 1,944
201,048 155,740

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 89,095 72,791
Tax 2,577 11,618
Social security and other taxes 8,919 7,951
Directors' current accounts 70,866 48,397
Accruals and deferred income 22,653 14,644
194,110 155,401

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
144 Ordinary £1 144 144

10. RESERVES

Included in retained earnings at 31 December 2023 is an amount of £819,111 (2022: £859,620) which is not distributable. This relates to an accumulated increase in the fair value of investments and investment property, net of deferred tax.

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £150,000 (2022 - £84,000) were paid to the directors .

Denykem Limited (Registered number: 01114861)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


12. ULTIMATE CONTROLLING PARTY

The company is jointly controlled by the directors Ms A J Stoner, Mrs M McGee and Mr P Stoner.