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REGISTERED NUMBER: 01400520 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DENTON AND GIBSON LIMITED

DENTON AND GIBSON LIMITED (REGISTERED NUMBER: 01400520)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DENTON AND GIBSON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G Denton
G P Smith





SECRETARY: D Denton





REGISTERED OFFICE: Kingfisher House
17 Albury Close
Loverock Road
Reading
RG30 1BD





REGISTERED NUMBER: 01400520 (England and Wales)





AUDITORS: Haines Watts, Statutory Auditor
Chartered Accountants
The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN

DENTON AND GIBSON LIMITED (REGISTERED NUMBER: 01400520)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 549 798
Investments 5 884,339 885,808
884,888 886,606

CURRENT ASSETS
Debtors 6 316,454 27,926
Cash at bank 79,412 456,773
395,866 484,699
CREDITORS
Amounts falling due within one year 7 72,674 117,639
NET CURRENT ASSETS 323,192 367,060
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,208,080

1,253,666

CAPITAL AND RESERVES
Called up share capital 600,000 600,000
Retained earnings 608,080 653,666
1,208,080 1,253,666

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 and authorised for issue by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





G P Smith - Director


DENTON AND GIBSON LIMITED (REGISTERED NUMBER: 01400520)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Denton And Gibson 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 presentation currency of the financial statements is the Pound Sterling (£).


The financial statements are rounded to the nearest £.

2. ACCOUNTING POLICIES

Basis of preparing the 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.

Going Concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current market conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services
Revenue 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 revenue 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.

DENTON AND GIBSON LIMITED (REGISTERED NUMBER: 01400520)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Valuation of investments
Investments in joint ventures are measured at cost less accumulated impairment. Where merger relief is available, the cost of the investment in a joint venture is measured at the nominal value of the shares issued together with the fair value of any additional consideration paid.

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

- Plant and machinery - 4 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 the Statement of comprehensive income.

DENTON AND GIBSON LIMITED (REGISTERED NUMBER: 01400520)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtor and creditors, loans from banks and other third parties, loans to related parties and investments in non-pultable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable with one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at a market rate, the financial asset or liability measured, initially, at the the present value of the future cash-flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amoritised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial assets has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an appropriate of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

DENTON AND GIBSON LIMITED (REGISTERED NUMBER: 01400520)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

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.

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.

DENTON AND GIBSON LIMITED (REGISTERED NUMBER: 01400520)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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.

Pensions
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension 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 the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as liability in the Balance Sheet. The assets of the plan are held separately from the Company in Independently administered funds.

Interest income
Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

Associates and Joint Ventures
Associates and Joint Ventures are held at cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 January 2023
and 31 December 2023 997
DEPRECIATION
At 1 January 2023 199
Charge for year 249
At 31 December 2023 448
NET BOOK VALUE
At 31 December 2023 549
At 31 December 2022 798

DENTON AND GIBSON LIMITED (REGISTERED NUMBER: 01400520)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. FIXED ASSET INVESTMENTS
Interest in
joint
venture
£
COST
At 1 January 2023 885,808
Share of profit/(loss) (1,469 )
At 31 December 2023 884,339
NET BOOK VALUE
At 31 December 2023 884,339
At 31 December 2022 885,808

The fixed asset investment is a joint venture with Checkmore Limited and is included in the financial statements at 50% share of its reported net assets.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 599 548
Amounts owed by group undertakings 308,504 23,640
Other debtors 7,351 3,738
316,454 27,926

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 362 7,089
Amounts owed to group undertakings 46,010 46,010
Taxation and social security 20,602 59,940
Other creditors 5,700 4,600
72,674 117,639

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Newbold FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts, Statutory Auditor

9. PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The pension cost charge represents contributions payable by the Company to fund and amounted to £18,280 (2022 - £17,292).

At the year end there were no amounts outstanding (2022 - £Nil) in respect of defined pension contributions.

DENTON AND GIBSON LIMITED (REGISTERED NUMBER: 01400520)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


10. TRANSACTIONS WITH DIRECTORS

During the year a loan for £50,000 was made to a director, at the end there was no balance owed to the Company.

The above transaction was at arms length and under commercial terms.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year the Company made sales of £28,500 (2022 - £27,000) in respect of properties owned by the directors and pension schemes of which they are members. At the year end the balance owed to the Company in respect of these transactions was £Nil (2022 - £Nil).

During the year the Company made sales to joint ventures in which it has an interest of £110,000 (2022 - £120,000). At the year end there was no balance owed to the company in respect of this transaction (2022 - £Nil).

All of the above transactions were at arms length and under commercial terms.

12. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Country Estates Holdings Limited, a company incorporated in the UK.

Denton Holdings Limited is the parent of the smallest group of which the company is a member.

The company is controlled by G P Smith and G J Denton by virtue of their shareholding in the ultimate holding company.

Copies of the consolidated financial statements of Country Estate Holdings Limited can be obtained from Companies House.