Denmark Ward Limited 11131349 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is during the year continued to be that of business and property consulting and property development. Digita Accounts Production Advanced 6.30.9574.0 true true 11131349 2023-04-01 2024-03-31 11131349 2024-03-31 11131349 core:CurrentFinancialInstruments 2024-03-31 11131349 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11131349 core:FurnitureFittingsToolsEquipment 2024-03-31 11131349 1 2024-03-31 11131349 bus:SmallEntities 2023-04-01 2024-03-31 11131349 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11131349 bus:FilletedAccounts 2023-04-01 2024-03-31 11131349 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11131349 bus:RegisteredOffice 2023-04-01 2024-03-31 11131349 bus:Director1 2023-04-01 2024-03-31 11131349 bus:Director2 2023-04-01 2024-03-31 11131349 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11131349 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 11131349 core:OfficeEquipment 2023-04-01 2024-03-31 11131349 core:OtherRelatedParties 2023-04-01 2024-03-31 11131349 countries:EnglandWales 2023-04-01 2024-03-31 11131349 1 2023-04-01 2024-03-31 11131349 2023-03-31 11131349 core:FurnitureFittingsToolsEquipment 2023-03-31 11131349 1 2023-03-31 11131349 2022-04-01 2023-03-31 11131349 2023-03-31 11131349 core:CurrentFinancialInstruments 2023-03-31 11131349 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11131349 core:FurnitureFittingsToolsEquipment 2023-03-31 11131349 1 2023-03-31 11131349 1 2022-04-01 2023-03-31 11131349 1 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11131349

Denmark Ward Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Denmark Ward Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Denmark Ward Limited

Company Information

Directors

A. M. Ward

D. Ward

Registered office

36 Main Street
Sutton Bonington
Loughborough
Leicestershire
LE12 5NE

Accountants

Robert Whowell & Partners LLP
Chartered Accountants
Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

 

Denmark Ward Limited

(Registration number: 11131349)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

66

198

Investment property

5

882,000

882,000

 

882,066

882,198

Current assets

 

Stocks

6

501,614

845,949

Debtors

7

140,122

20,882

Cash at bank and in hand

 

530,762

328,024

 

1,172,498

1,194,855

Creditors: Amounts falling due within one year

8

(56,124)

(82,817)

Net current assets

 

1,116,374

1,112,038

Net assets

 

1,998,440

1,994,236

Capital and reserves

 

Called up share capital

9

1,367,030

1,367,030

Retained earnings

631,410

627,206

Shareholders' funds

 

1,998,440

1,994,236

 

Denmark Ward Limited

(Registration number: 11131349)
Balance Sheet as at 31 March 2024

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 November 2024 and signed on its behalf by:
 

.........................................
A. M. Ward
Director

 

Denmark Ward Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
36 Main Street
Sutton Bonington
Loughborough
Leicestershire
LE12 5NE

These financial statements were authorised for issue by the Board on 26 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Rental income from operating leases (net of any incentives given to the lessees) is recognised on a straight line basis over the term of the lease.

 

Denmark Ward Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors, or external valuers where appropriate. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

 

Denmark Ward Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Stocks

Stocks comprise work in progress which is stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the developments to their present location and condition. At each reporting date, work in progress is assessed for impairment. If impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in the profit and loss account.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Denmark Ward Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Office equipment
 £

Total
£

Cost or valuation

At 1 April 2023

528

528

At 31 March 2024

528

528

Depreciation

At 1 April 2023

330

330

Charge for the year

132

132

At 31 March 2024

462

462

Carrying amount

At 31 March 2024

66

66

At 31 March 2023

198

198

5

Investment properties

2024
£

At 1 April 2023

882,000

At 31 March 2024

882,000

The directors do not believe there has been a material change in the valuation of the investment property.

6

Stocks

2024
£

2023
£

Work in progress

501,614

845,949

7

Debtors

Current

2024
£

2023
£

Other debtors

140,122

20,882

 

Denmark Ward Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

661

2,341

Social security and other taxes

2,728

2,357

Accruals

25,000

25,000

Corporation tax

27,735

53,119

56,124

82,817

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A shares of £0.10 each

10,000

1,000

10,000

1,000

Ordinary B shares of £0.10 each

10,000

1,000

10,000

1,000

Ordinary C shares of £0.10 each

100

10

100

10

Ordinary D shares of £0.10 each

100

10

100

10

Ordinary E shares of £0.10 each

100

10

100

10

Preference shares of £1 each

1,365,000

1,365,000

1,365,000

1,365,000

 

1,385,300

1,367,030

1,385,300

1,367,030

 

Denmark Ward Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

10

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Directors' loan account

20,882

192,000

(72,760)

140,122

 

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Directors' loan account

(8,282)

119,084

(89,920)

20,882

 

Summary of transactions with other related parties

During the year the directors and members of their close family received dividends amounting to £86,740 (2023 - £106,400).

The amount due from the directors has been repaid in the post balance sheet period.