Caseware UK (AP4) 2024.0.164 2024.0.164 17falseNo description of principal activitytrue2023-07-01false16trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00130566 2023-07-01 2024-06-30 00130566 2022-07-01 2023-06-30 00130566 2024-06-30 00130566 2023-06-30 00130566 c:Director2 2023-07-01 2024-06-30 00130566 c:Director4 2023-07-01 2024-06-30 00130566 d:Buildings 2023-07-01 2024-06-30 00130566 d:Buildings 2024-06-30 00130566 d:Buildings 2023-06-30 00130566 d:Buildings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00130566 d:PlantMachinery 2023-07-01 2024-06-30 00130566 d:PlantMachinery 2024-06-30 00130566 d:PlantMachinery 2023-06-30 00130566 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00130566 d:MotorVehicles 2023-07-01 2024-06-30 00130566 d:MotorVehicles 2024-06-30 00130566 d:MotorVehicles 2023-06-30 00130566 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00130566 d:FurnitureFittings 2023-07-01 2024-06-30 00130566 d:FurnitureFittings 2024-06-30 00130566 d:FurnitureFittings 2023-06-30 00130566 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00130566 d:OfficeEquipment 2023-07-01 2024-06-30 00130566 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00130566 d:Goodwill 2023-07-01 2024-06-30 00130566 d:Goodwill 2024-06-30 00130566 d:Goodwill 2023-06-30 00130566 d:FreeholdInvestmentProperty 2023-07-01 2024-06-30 00130566 d:FreeholdInvestmentProperty 2024-06-30 00130566 d:FreeholdInvestmentProperty 2023-06-30 00130566 d:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 00130566 d:CurrentFinancialInstruments 2024-06-30 00130566 d:CurrentFinancialInstruments 2023-06-30 00130566 d:Non-currentFinancialInstruments 2024-06-30 00130566 d:Non-currentFinancialInstruments 2023-06-30 00130566 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 00130566 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 00130566 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 00130566 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 00130566 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 00130566 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 00130566 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 00130566 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 00130566 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-06-30 00130566 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 00130566 d:ShareCapital 2024-06-30 00130566 d:ShareCapital 2023-06-30 00130566 d:CapitalRedemptionReserve 2023-07-01 2024-06-30 00130566 d:CapitalRedemptionReserve 2024-06-30 00130566 d:CapitalRedemptionReserve 2023-06-30 00130566 d:RevaluationReserve 2023-07-01 2024-06-30 00130566 d:RevaluationReserve 2024-06-30 00130566 d:RevaluationReserve 2023-06-30 00130566 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 00130566 d:RetainedEarningsAccumulatedLosses 2024-06-30 00130566 d:RetainedEarningsAccumulatedLosses 2023-06-30 00130566 c:FRS102 2023-07-01 2024-06-30 00130566 c:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 00130566 c:FullAccounts 2023-07-01 2024-06-30 00130566 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 00130566 d:Subsidiary1 2023-07-01 2024-06-30 00130566 d:Subsidiary1 1 2023-07-01 2024-06-30 00130566 d:Subsidiary2 2023-07-01 2024-06-30 00130566 d:Subsidiary2 1 2023-07-01 2024-06-30 00130566 d:HirePurchaseContracts d:WithinOneYear 2024-06-30 00130566 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 00130566 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-06-30 00130566 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 00130566 6 2023-07-01 2024-06-30 00130566 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-06-30 00130566 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-06-30 00130566 d:LeasedAssetsHeldAsLessee 2024-06-30 00130566 d:LeasedAssetsHeldAsLessee 2023-06-30 00130566 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 00130566










T. Denne and Sons (Holdings) Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 June 2024





 
T. Denne and Sons (Holdings) Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of T. Denne and Sons (Holdings) Limited for the year ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of T. Denne and Sons (Holdings) Limited for the year ended 30 June 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of T. Denne and Sons (Holdings) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of T. Denne and Sons (Holdings) Limited and state those matters that we have agreed to state to the Board of directors of T. Denne and Sons (Holdings) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than T. Denne and Sons (Holdings) Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that T. Denne and Sons (Holdings) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of T. Denne and Sons (Holdings) Limited. You consider that T. Denne and Sons (Holdings) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of T. Denne and Sons (Holdings) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
Montague Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QU
10 December 2024
Page 1

 
T. Denne and Sons (Holdings) Limited
Registered number: 00130566

Balance sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1
1

Tangible assets
 5 
1,502,907
1,504,049

Investments
 6 
16,000
16,000

Investment property
 7 
2,520,490
2,391,322

  
4,039,398
3,911,372

Current assets
  

Stocks
 8 
469,369
508,940

Debtors: amounts falling due within one year
 9 
534,696
554,792

Cash at bank and in hand
 10 
13,007
89,978

  
1,017,072
1,153,710

Creditors: amounts falling due within one year
 11 
(1,624,914)
(1,822,491)

Net current liabilities
  
 
 
(607,842)
 
 
(668,781)

Total assets less current liabilities
  
3,431,556
3,242,591

Creditors: amounts falling due after more than one year
 12 
(543,432)
(372,329)

Provisions for liabilities
  

Deferred tax
  
(156,555)
(182,860)

  
 
 
(156,555)
 
 
(182,860)

Net assets
  
2,731,569
2,687,402


Capital and reserves
  

Called up share capital 
  
99,594
99,594

Revaluation reserve
 15 
1,349,167
1,273,260

Capital redemption reserve
 15 
26,002
26,002

Profit and loss account
 15 
1,256,806
1,288,546

  
2,731,569
2,687,402


Page 2

 
T. Denne and Sons (Holdings) Limited
Registered number: 00130566

Balance sheet (continued)
As at 30 June 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 December 2024.




C C Denne
F D H Denne
Director
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

1.


General information

T Denne and Sons (Holdings) Limited is a limited liability company incorporated in England and Wales.  The address of the registered office and the principal place of business is Whitehill, Bilting, Kent, TN25 4HB.  The principal activities during the year were that of grain and bean merchanting and related services, together with property management.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts.  These financial statements therefore present information about the company as an individual undertaking and not about its group.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Turnover also comprises rental income receivable.

Page 4

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 5

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.


Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
Property not depreciated / Solar Panels depreciated over 20 years
Motor vehicles
-
Over 5 years
Plant, fixtures and fittings
-
Between 4 and 10 years
Office and computer equipment
-
Over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 6

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2023 - 16).

Page 7

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2023
1



At 30 June 2024

1






Net book value



At 30 June 2024
1



At 30 June 2023
1




5.


Tangible fixed assets





Freehold property
Plant, fixtures and fittings
Motor vehicles
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 July 2023
1,156,137
1,185,861
120,505
25,618
2,488,121


Additions
3,120
93,605
-
2,602
99,327



At 30 June 2024

1,159,257
1,279,466
120,505
28,220
2,587,448



Depreciation


At 1 July 2023
32,268
827,409
103,677
20,718
984,072


Charge for the year on owned assets
6,796
81,133
10,006
2,534
100,469



At 30 June 2024

39,064
908,542
113,683
23,252
1,084,541



Net book value



At 30 June 2024
1,120,193
370,924
6,822
4,968
1,502,907



At 30 June 2023
1,123,869
358,452
16,828
4,900
1,504,049

Page 8

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

           5.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
71,613
-

71,613
-


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
16,000



At 30 June 2024
16,000





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Class of shares

Holding

T. Denne and Sons Limited
Ordinary
-
100%
-
M. Hancock & Son Limited
Ordinary
-
100%
-

The aggregate of the share capital and reserves as at 30 June 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

T. Denne and Sons Limited
1,000
-

M. Hancock & Son Limited
15,000
-

Page 9

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

7.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
2,391,322


Additions at cost
35,456


Surplus on revaluation
93,712



At 30 June 2024
2,520,490

The 2024 valuations were made by the directors, on an open market value for existing use basis.







8.


Stocks

2024
2023
£
£

Raw materials and consumables
469,369
508,940



9.


Debtors

2024
2023
£
£


Trade debtors
404,545
425,741

Other debtors
13,957
7,839

Prepayments and accrued income
116,194
121,212

534,696
554,792



10.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
13,007
89,978

Less: bank overdrafts
(588,683)
(506,443)

(575,676)
(416,465)


Page 10

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

11.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
588,683
506,443

Bank loans
62,275
63,005

Trade creditors
824,224
956,981

Amounts owed to group undertakings
15,999
15,999

Other taxation and social security
33,560
32,238

Obligations under finance lease and hire purchase contracts
16,905
-

Other creditors
56,553
221,245

Accruals and deferred income
26,715
26,580

1,624,914
1,822,491



12.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
310,927
372,329

Net obligations under finance leases and hire purchase contracts
42,529
-

Other creditors
189,976
-

543,432
372,329


Secured loans
The bank loans and overdraft are secured by first legal charges over certain assets.


13.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
62,275
63,005

Amounts falling due 1-2 years

Bank loans
62,273
63,727

Amounts falling due 2-5 years

Bank loans
140,128
178,001

Amounts falling due after more than 5 years

Bank loans
108,526
130,601

373,202
435,334


Page 11

 
T. Denne and Sons (Holdings) Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

14.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
16,905
-

Between 1-5 years
42,529
-

59,434
-


15.


Reserves

Revaluation reserve

This reserve comprises the revaluation of investment properties less a provision for deferred tax in the event of disposal.  The reserve is non-distributable.

Capital redemption reserve

This reserve relates to the buy back of shares and is non-distributable.

Profit and loss account

This reserve comprises all current and prior period retained distributable profits and losses after deducting any distributions made to the company's shareholders.


16.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £24,420 (2023 - £23,762). Contributions totalling £3,598 (2023 - £3,217) were payable to the fund at the balance sheet date and are included in creditors.


17.


Controlling party

The ultimate parent undertaking is T Denne and Sons Group (Holdings) Limited.


Page 12