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REGISTERED NUMBER: 00471293 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

DEPENDABLE HOMES LIMITED

DEPENDABLE HOMES LIMITED (REGISTERED NUMBER: 00471293)

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 HOMES 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: 00471293 (England and Wales)





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

DEPENDABLE HOMES LIMITED (REGISTERED NUMBER: 00471293)

Statement of Financial Position
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 3,965,848 3,955,474
Investments 6 - 3,920
3,965,848 3,959,394

CURRENT ASSETS
Inventories 7 2,356,658 2,356,658
Debtors 8 773,720 525,530
Cash at bank 43,712 5,729
3,174,090 2,887,917
CREDITORS
Amounts falling due within one year 9 (882,397 ) (815,953 )
NET CURRENT ASSETS 2,291,693 2,071,964
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,257,541

6,031,358

CAPITAL AND RESERVES
Called up share capital 11 25,000 25,000
Retained earnings 6,232,541 6,006,358
SHAREHOLDERS' FUNDS 6,257,541 6,031,358

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 HOMES LIMITED (REGISTERED NUMBER: 00471293)

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 HOMES LIMITED (REGISTERED NUMBER: 00471293)

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


1. STATUTORY INFORMATION

Dependable Homes 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.

Tangible fixed assets
Property, plant and equipment are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all property, plant and equipment, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows;

Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance


The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

DEPENDABLE HOMES LIMITED (REGISTERED NUMBER: 00471293)

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 HOMES LIMITED (REGISTERED NUMBER: 00471293)

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


3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investment property
Freehold investment properties are stated at cost less provision, where necessary, for permanent diminution in value. This is not in accordance with FRS102 1A which requires investment properties to be stated at their fair value or depreciated cost. No valuations have been carried out and accordingly it is not possible to quantify the effect on the net assets at the current or previous balance sheet date, or the effect on the total comprehensive income for the current or previous period.

Freehold investment properties are transferred from stock at market value at the time of the transfer.

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.

UK dividends receivable are recognised on an accruals basis and are credited to the profit and loss account, net of attributable tax credits.

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 8 (2023 - 8 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Investment Motor Computer
properties vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 3,921,341 69,264 1,245 3,991,850
Additions - 53,135 - 53,135
Disposals - (49,645 ) - (49,645 )
At 31 August 2024 3,921,341 72,754 1,245 3,995,340
DEPRECIATION
At 1 September 2023 - 35,131 1,245 36,376
Charge for year - 14,836 - 14,836
Eliminated on disposal - (21,720 ) - (21,720 )
At 31 August 2024 - 28,247 1,245 29,492
NET BOOK VALUE
At 31 August 2024 3,921,341 44,507 - 3,965,848
At 31 August 2023 3,921,341 34,133 - 3,955,474

DEPENDABLE HOMES LIMITED (REGISTERED NUMBER: 00471293)

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


6. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST
At 1 September 2023 3,920
Disposals (3,920 )
At 31 August 2024 -
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 3,920

Market value of listed investments at 31 August 2024 £Nil (2023: £31,157).

7. INVENTORIES
2024 2023
£    £   
Properties for resale 342,598 342,598
Completed developments and
work in progress 2,014,060 2,014,060
2,356,658 2,356,658

The above properties are subject to short term operating leases. The intention is to dispose the properties when market conditions allow and accordingly the properties do not meet the definition of investment properties and are classified as stocks.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by associated undertakings 755,565 500,065
Other debtors 18,155 25,465
773,720 525,530

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 45,639 46,664
Social security and other taxes 18,198 29,883
Other creditors 17,180 16,805
Directors' current accounts 758,861 696,082
Accruals 42,519 26,519
882,397 815,953

DEPENDABLE HOMES LIMITED (REGISTERED NUMBER: 00471293)

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 associated undertakings 755,565 500,065
- Other debtors 18,155 25,465
773,720 525,530

Financial liabilities measured at amortised cost:
- Corporation tax 45,639 46,664
- Social security and other taxes 18,198 29,883
- Other creditors 17,180 16,805
- Directors' current accounts 758,861 696,082
- Accruals 42,519 26,519
882,397 815,953




11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
25,000 Ordinary £1 25,000 25,000

12. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £755,565 (2023: £500,065) to Dennis Reed Limited, a company under common control. This balance is unsecured, interest-free and has no fixed repayment date.

During the year the company was invoiced £20,517 (2023: £14,054) in respect of the provision of office services by Dennis Reed Limited, an associated company. Also during the year the company was charged £Nil (2023: £30,000) management fees by City & Suburban Investments Limited, a company under common control.