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REGISTERED NUMBER: 04273448 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 August 2024

for

DENTON WHARF PROPERTIES LIMITED

DENTON WHARF PROPERTIES LIMITED (REGISTERED NUMBER: 04273448)

Contents of the Financial Statements
for the year ended 31 August 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


DENTON WHARF PROPERTIES LIMITED

Company Information
for the year ended 31 August 2024







Directors: Mr I J McKellar
Mr M Verrechia jnr
Mr M Verrechia
Mrs N Bruley





Registered office: New Derwent House
69-73 Theobald's Road
London
WC1X 8TA





Registered number: 04273448 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

DENTON WHARF PROPERTIES LIMITED (REGISTERED NUMBER: 04273448)

Statement of Financial Position
31 August 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 3,553 4,804
Investment property 5 10,000,000 10,000,000
10,003,553 10,004,804

Current assets
Debtors 6 147,613 228,548
Cash at bank 1,573,653 1,056,828
1,721,266 1,285,376
Creditors
Amounts falling due within one year 7 326,878 302,848
Net current assets 1,394,388 982,528
Total assets less current liabilities 11,397,941 10,987,332

Provisions for liabilities 8 2,500,888 2,501,201
Net assets 8,897,053 8,486,131

Capital and reserves
Called up share capital 9 100 100
Revaluation reserve 10 5,813,419 5,813,419
Retained earnings 3,083,534 2,672,612
Shareholders' funds 8,897,053 8,486,131

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

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

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 26 November 2024 and were signed on its behalf by:



Mr I J McKellar - Director


DENTON WHARF PROPERTIES LIMITED (REGISTERED NUMBER: 04273448)

Notes to the Financial Statements
for the year ended 31 August 2024


1. Statutory information

Denton Wharf Properties 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 (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover represents net invoiced rental income, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles - 5 years straight line
Computer equipment - 5 years straight line

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

DENTON WHARF PROPERTIES LIMITED (REGISTERED NUMBER: 04273448)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


2. Accounting policies - continued

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.

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 1 ) .

4. Tangible fixed assets
Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 September 2023 7,000 1,510 8,510
Additions - 563 563
At 31 August 2024 7,000 2,073 9,073
Depreciation
At 1 September 2023 2,800 906 3,706
Charge for year 1,400 414 1,814
At 31 August 2024 4,200 1,320 5,520
Net book value
At 31 August 2024 2,800 753 3,553
At 31 August 2023 4,200 604 4,804

DENTON WHARF PROPERTIES LIMITED (REGISTERED NUMBER: 04273448)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


5. Investment property
Total
£   
Fair value
At 1 September 2023
and 31 August 2024 10,000,000
Net book value
At 31 August 2024 10,000,000
At 31 August 2023 10,000,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2002 1,836,450
Valuation in 2005 1,931,203
Valuation in 2008 (500,000 )
Valuation in 2019 159,407
Valuation in 2021 3,750,000
Cost 2,822,940
10,000,000

The directors consider that the net book value reflects the current open market valuation of the property as at 31 August 2024..

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 60,009 48,245
Other debtors 87,604 180,303
147,613 228,548

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 19,259 8,343
Taxation and social security 207,844 148,012
Other creditors 99,775 146,493
326,878 302,848

8. Provisions for liabilities
2024 2023
£    £   
Deferred tax 2,500,888 2,501,201

Deferred
tax
£   
Balance at 1 September 2023 2,501,201
Provided during year (313 )
Balance at 31 August 2024 2,500,888

DENTON WHARF PROPERTIES LIMITED (REGISTERED NUMBER: 04273448)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. Reserves
Revaluation
reserve
£   
At 1 September 2023
and 31 August 2024 5,813,419

11. Directors' advances, credits and guarantees

Included in other creditors due within one year is an amount owing to the directors Mr I McKellar £51,500 (2023 - £53,500) and M J Verrechia Snr £25,000 (2023 - £25,000).

Included in other debtors due within one year is an amount of £62,991 due from the director Mr M J Verrechia Jnr. (2023- £87,991)

12. Related party disclosures

Included within other creditors due within one year is a balance of £2,226 (2023 - £11,054) due to NI Properties Ltd, a company incorporated in Guernsey, in which some of the director/shareholders have a material interest.

Included within other creditors due within one year is a balance of £2,112 (2023 - £1,352) due to Ensign Property Management Co. Ltd, a company incorporated within the UK, in which some of the director/shareholders have a material interest.