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REGISTERED NUMBER: 00567476 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

DEPENDABLE INVESTMENTS LIMITED

DEPENDABLE INVESTMENTS LIMITED (REGISTERED NUMBER: 00567476)

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 4


DEPENDABLE INVESTMENTS LIMITED

Company Information
for the year ended 31 August 2024







DIRECTORS: Lord Leigh of Hurley
Mr T Q Leigh





SECRETARY: Lord Leigh of Hurley





REGISTERED OFFICE: 172 Greenford Road
Harrow
Middlesex
HA1 3QZ





REGISTERED NUMBER: 00567476 (England and Wales)





ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

DEPENDABLE INVESTMENTS LIMITED (REGISTERED NUMBER: 00567476)

Statement of Financial Position
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 278,300 278,300
Investments 6 1,729,990 1,762,979
2,008,290 2,041,279

CURRENT ASSETS
Inventories 7 730,800 730,800
Debtors 8 1,552,773 1,034,854
Cash at bank 29,698 29,634
2,313,271 1,795,288
CREDITORS
Amounts falling due within one year 9 (77,723 ) (72,477 )
NET CURRENT ASSETS 2,235,548 1,722,811
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,243,838

3,764,090

CAPITAL AND RESERVES
Called up share capital 11 2,100 2,100
Retained earnings 4,241,738 3,761,990
SHAREHOLDERS' FUNDS 4,243,838 3,764,090

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.

DEPENDABLE INVESTMENTS LIMITED (REGISTERED NUMBER: 00567476)

Statement of Financial Position - continued
31 August 2024


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by:




Mr T Q Leigh - Director



Lord Leigh of Hurley - Director


DEPENDABLE INVESTMENTS LIMITED (REGISTERED NUMBER: 00567476)

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


1. STATUTORY INFORMATION

Dependable Investments 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the total amount receivable for sales and services provided during the period in the ordinary course of business.

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost or net realisable value.

Properties purchased for their development potential are classified as stocks, notwithstanding that there may be a period of time before they can be developed. During these periods the properties are let on operating leases or have recoverable ground rents. Such properties are not classified as investment properties within tangible fixed assets as they are not held for their investment potential.

DEPENDABLE INVESTMENTS LIMITED (REGISTERED NUMBER: 00567476)

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


3. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets

Trade and other debtors, amounts owed by related undertakings, cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities

Trade and other creditors, directors' current accounts and accruals are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

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 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.

Equity instrument
The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

DEPENDABLE INVESTMENTS LIMITED (REGISTERED NUMBER: 00567476)

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


3. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value. For listed investments, market value is based on the closing middle market price on a recognised stock exchange.

Dividends receivable are credited to the profit and loss account on an accruals basis. UK dividends are recorded net of attributable tax credits. Foreign dividends are stated inclusive of withholding tax and the tax suffered is included in the taxation charge.

Investment properties
Freehold investment properties are stated at cost less provision, where necessary, for permanent diminution in value.

In accordance with FRS 102 (Section 1A) no depreciation is provided in respect of freehold investment properties. This is not in accordance with the Companies Act 2006 which requires tangible fixed assets to be depreciated over their estimated useful lives, and is necessary to show a true and fair view. Depreciation is only one of many factors reflected in the value of investment properties and the amount which might otherwise have been shown cannot be separately identified or quantified.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

4. EMPLOYEES AND DIRECTORS

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

5. PROPERTY, PLANT AND EQUIPMENT
Investment
properties
£   
COST
At 1 September 2023
and 31 August 2024 278,300
NET BOOK VALUE
At 31 August 2024 278,300
At 31 August 2023 278,300

DEPENDABLE INVESTMENTS LIMITED (REGISTERED NUMBER: 00567476)

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


6. FIXED ASSET INVESTMENTS
Interest
in Listed
associate investments Totals
£    £    £   
COST
At 1 September 2023 1,560,000 202,979 1,762,979
Additions - 8,843 8,843
Disposals - (41,832 ) (41,832 )
At 31 August 2024 1,560,000 169,990 1,729,990
NET BOOK VALUE
At 31 August 2024 1,560,000 169,990 1,729,990
At 31 August 2023 1,560,000 202,979 1,762,979

Market value of listed investments at 31 August 2024 £3,178,556 (2023: £2,926,766).

7. INVENTORIES
2024 2023
£    £   
Freehold ground rents 11,302 11,302
Freehold properties 719,498 719,498
730,800 730,800

Freehold properties are held for their development potential and are currently being let on operating leases.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by related undertakings 1,547,883 1,029,704
Other debtors 4,890 5,150
1,552,773 1,034,854

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors (1 ) -
Corporation tax 57,352 51,263
Other creditors 13,172 14,014
Accruals 7,200 7,200
77,723 72,477

DEPENDABLE INVESTMENTS LIMITED (REGISTERED NUMBER: 00567476)

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


10. FINANCIAL INSTRUMENTS

The company has the following financial instruments:
2024 2023
£ £

- Amounts owed by related undertakings 1,547,883 1,029,704
- Other debtors 4,890 5,150
1,552,773 1,034,854

Financial liabilities measured at amortised cost:
- Trade creditors (1 ) -
- Corporation tax 57,352 51,263
- Other creditors 13,172 14,014
- Accruals 7,200 7,200
77,723 72,477



11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,100 Ordinary £1 2,100 2,100

12. RELATED PARTY DISCLOSURES

At the balance sheet date, the company is owed £1,547,883 (2023: £1,029,704) by Dennis Reed Limited, a company under common control. This balance is unsecured, interest-free and has no fixed repayment date.