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Company No: 11912462 (England and Wales)

GARDNER DENLEY LIMITED

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

GARDNER DENLEY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

GARDNER DENLEY LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
GARDNER DENLEY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS S Denley
S Gardner
REGISTERED OFFICE The Old Rectory
Rectory Lane
Kingston
Cambridge
CB23 2NL
United Kingdom
COMPANY NUMBER 11912462 (England and Wales)
ACCOUNTANT Evelyn Partners (East) LLP
Stonecross
Trumpington High Street
Cambridge
CB2 9SU
GARDNER DENLEY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
GARDNER DENLEY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 245,785 254,038
245,785 254,038
Current assets
Debtors 4 186,025 371,652
Cash at bank and in hand 24,673 24,691
210,698 396,343
Prepayments and accrued income 0 150,000
Creditors: amounts falling due within one year 5 ( 227,307) ( 425,930)
Net current (liabilities)/assets (16,609) 120,413
Total assets less current liabilities 229,176 374,451
Creditors: amounts falling due after more than one year 6 ( 191,217) ( 32,775)
Provision for liabilities 7 ( 12,201) ( 12,201)
Net assets 25,758 329,475
Capital and reserves
Called-up share capital 2 2
Profit and loss account 25,756 329,473
Total shareholders' funds 25,758 329,475

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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Gardner Denley Limited (registered number: 11912462) were approved and authorised for issue by the Board of Directors on 06 February 2025. They were signed on its behalf by:

S Gardner
Director
GARDNER DENLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
GARDNER DENLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Gardner Denley 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 The Old Rectory, Rectory Lane, Kingston, Cambridge, CB23 2NL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Gardner Denley Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

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

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.

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 Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

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 or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Vehicles 33 % reducing balance
Office equipment 3 years straight line
Computer equipment 3 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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

Leasehold improve-
ments
Vehicles Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 April 2023 211,538 91,698 4,769 7,860 315,865
Additions 22,399 0 11,713 0 34,112
Disposals ( 5,766) 0 0 0 ( 5,766)
At 31 March 2024 228,171 91,698 16,482 7,860 344,211
Accumulated depreciation
At 01 April 2023 0 52,134 8,580 1,113 61,827
Charge for the financial year 21,171 13,188 ( 380) 2,620 36,599
At 31 March 2024 21,171 65,322 8,200 3,733 98,426
Net book value
At 31 March 2024 207,000 26,376 8,282 4,127 245,785
At 31 March 2023 211,538 39,564 ( 3,811) 6,747 254,038

4. Debtors

2024 2023
£ £
Trade debtors 0 186,652
Other debtors 186,025 185,000
186,025 371,652

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 37,802 10,000
Trade creditors 10,733 8,511
Corporation tax 84,298 156,815
Other taxation and social security 1,685 28,394
Obligations under finance leases and hire purchase contracts 6,048 9,256
Other creditors 86,741 212,954
227,307 425,930

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

2024 2023
£ £
Bank loans 191,217 25,833
Obligations under finance leases and hire purchase contracts 0 6,942
191,217 32,775

There are no amounts included above in respect of which any security has been given by the small entity.

7. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 12,201) 0
Charged to the Statement of Income and Retained Earnings 0 ( 12,201)
At the end of financial year ( 12,201) ( 12,201)

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 1,940 0
between one and five years 5,820 0
7,760 0

9. Related party transactions

Other related party transactions

2024 2023
£ £
Loan owed to a company under common control (82,239) (15,244)
Loan owed by a family member of the director 185,000 185,000

The loans to/(from) the connected parties are interest free, unsecured and repayable on demand.