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Company No: 04593962 (England and Wales)

DANNING & SYMONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

DANNING & SYMONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

DANNING & SYMONS LIMITED

BALANCE SHEET

As at 31 January 2024
DANNING & SYMONS LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,323,338 1,327,395
Investments 4 3 3
1,323,341 1,327,398
Current assets
Debtors
- due within one year 5 990,480 839,299
- due after more than one year 5 124,353 0
Cash at bank and in hand 161,335 418,049
1,276,168 1,257,348
Creditors: amounts falling due within one year 6 ( 344,556) ( 316,381)
Net current assets 931,612 940,967
Total assets less current liabilities 2,254,953 2,268,365
Creditors: amounts falling due after more than one year 7 ( 889,087) ( 931,517)
Net assets 1,365,866 1,336,848
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 1,365,766 1,336,748
Total shareholders' funds 1,365,866 1,336,848

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Danning & Symons Limited (registered number: 04593962) were approved and authorised for issue by the Board of Directors on 29 October 2024. They were signed on its behalf by:

Mr D A Danning
Director
DANNING & SYMONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
DANNING & SYMONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Danning & Symons Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Trelawney Lodge, Sladesbridge, Wadebridge, PL27 6JA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of rent receivable.

The company recognises rent receivable on a straight line basis over the lease term.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings depreciated over the life of the lease
Assets under construction not depreciated
Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

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.

Investments
Investments in subsidiary companies are stated at cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Assets under construc-
tion
Fixtures and fittings Total
£ £ £ £
Cost
At 01 February 2023 1,087,850 466,538 111,786 1,666,174
Additions 0 6,309 0 6,309
At 31 January 2024 1,087,850 472,847 111,786 1,672,483
Accumulated depreciation
At 01 February 2023 227,592 0 111,187 338,779
Charge for the financial year 10,216 0 150 10,366
At 31 January 2024 237,808 0 111,337 349,145
Net book value
At 31 January 2024 850,042 472,847 449 1,323,338
At 31 January 2023 860,258 466,538 599 1,327,395

Included within the net book value of land and buildings above is £686,590 (2023 - £686,590) in respect of freehold land and buildings and £163,452 (2023 - £173,668) in respect of short leasehold land and buildings.

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 February 2023 3
At 31 January 2024 3
Carrying value at 31 January 2024 3
Carrying value at 31 January 2023 3

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.01.2024
Ownership
31.01.2023
Danning and Symons (Barnstaple) Limited England & Wales Dormant Company Ordinary 100.00% 100.00%
Danning and Symons (Probus) Limited England & Wales Dormant Company Ordinary 100.00% 100.00%

5. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 190,080 0
Amounts owed by Group undertakings 4,812 4,812
Other debtors 795,588 834,487
990,480 839,299
Debtors: amounts falling due after more than one year
Other debtors 124,353 0

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 51,229 57,020
Trade creditors 131,014 126,000
Corporation tax 101,535 72,846
Other taxation and social security 11,301 6,599
Other creditors 49,477 53,916
344,556 316,381

The bank loan is secured by way of a charge over the company's freehold and leasehold property.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 889,087 931,517

The bank loan is secured by way of a charge over the company's freehold and leasehold property.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
102 Ordinary A shares of £ 0.50 each 51 51
98 Ordinary B shares of £ 0.50 each 49 49
100 100

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
At start of period 4,812 4,812
Advanced 0 0
Repaid 0 0
At end of period 4,812 4,812

The subsidiary company Danning & Symons (Barnstaple) Limited has an interest free loan from the company. The balance is stated net of provision for impairment.

Transactions with the entity's directors

2024 2023
£ £
Mr D A Danning 0 0
Brought forward 397,822 389,726
Advances to director 187,793 192,551
Repayments by director (147,442) (184,455)
Carried forward 438,173 397,822
Mr D G Symons 0 0
Brought forward 70,953 86,826
Advances to director 72,997 38,538
Repayments by director (39,696) (54,411)
Carried forward 104,254 70,953

The directors have interest free loans from the company. The loan advanced to Mr D A Danning is held jointly with Mrs H M Danning.

Other related party transactions

2024 2023
£ £
At start of period 77,049 88,865
Advanced 53,059 37,603
Repaid (39,696) (49,419)
At end of period 90,412 77,049

Mrs H Y Symons (shareholder) has an interest free loan from the company.

10. Off Balance Sheet arrangements

The total amount of minimum rentals payable under non-cancellable operating leases is £1,108,333 (2023 - £1,178,333).

The total amount of future minimum rentals receivable under non-cancellable operating leases is £5,016,000 (2023 - £5,332,800).

11. Ultimate controlling party

Mr D A Danning.

The ultimate controlling party is D A Danning, director, and his immediate family, who own 51% of the issued share capital.