Company registration number 05830339 (England and Wales)
DERBYSHIRE INVESTMENTS (UK) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
DERBYSHIRE INVESTMENTS (UK) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
DERBYSHIRE INVESTMENTS (UK) LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
81,799
97,429
Investment property
4
9,783,417
8,845,891
9,865,216
8,943,320
Current assets
Debtors
5
74,320
64,271
Cash at bank and in hand
135,462
132,027
209,782
196,298
Creditors: amounts falling due within one year
6
(5,439,520)
(5,094,978)
Net current liabilities
(5,229,738)
(4,898,680)
Total assets less current liabilities
4,635,478
4,044,640
Creditors: amounts falling due after more than one year
7
(1,001,540)
(646,170)
Provisions for liabilities
(243,001)
(246,219)
Net assets
3,390,937
3,152,251
Capital and reserves
Called up share capital
750,002
750,002
Revaluation reserve
914,473
914,473
Profit and loss reserves
1,726,462
1,487,776
Total equity
3,390,937
3,152,251
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
DERBYSHIRE INVESTMENTS (UK) LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 13 March 2025
Mr S Bailey
Director
Company registration number 05830339 (England and Wales)
DERBYSHIRE INVESTMENTS (UK) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 July 2022
750,002
914,473
1,264,074
2,928,549
Year ended 30 June 2023:
Profit and total comprehensive income
-
-
422,702
422,702
Dividends
-
-
(199,000)
(199,000)
Balance at 30 June 2023
750,002
914,473
1,487,776
3,152,251
Year ended 30 June 2024:
Profit and total comprehensive income
-
-
429,686
429,686
Dividends
-
-
(191,000)
(191,000)
Balance at 30 June 2024
750,002
914,473
1,726,462
3,390,937
DERBYSHIRE INVESTMENTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information
Derbyshire Investments (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Homestead, Derby Road, Lower Kilburn, Derbyshire, DE56 0NH. The company registration number is 05830339.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.
These amended accounts are now the statutory accounts and have been prepared in accordance with the above financial standards. These accounts are to replace the previously file accounts.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% on reducing balance
Computers
25% on reducing balance
Motor vehicles
25% on reducing balance
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.
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
DERBYSHIRE INVESTMENTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial assets
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
Basic financial liabilities
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest method. Loans and borrowings that are receivable within one year are not discounted. If an arrangement constitutes a finance transaction it is measured at present value of future payments discounted at a market rate of interest for a similar loan.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
DERBYSHIRE INVESTMENTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023
160,835
Additions
9,018
Disposals
(1,005)
At 30 June 2024
168,848
Depreciation and impairment
At 1 July 2023
63,406
Depreciation charged in the year
24,514
Eliminated in respect of disposals
(871)
At 30 June 2024
87,049
Carrying amount
At 30 June 2024
81,799
At 30 June 2023
97,429
4
Investment property
2024
£
Fair value
At 1 July 2023
8,845,891
Additions
937,526
At 30 June 2024
9,783,417
Investment property was valued on an open market basis on 8 August 2017 by Innes England.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
48,385
41,005
Other debtors
25,935
23,266
74,320
64,271
DERBYSHIRE INVESTMENTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
86,273
538,187
Trade creditors
24,235
142,932
Amounts owed to group undertakings
298,752
352,083
Corporation tax
145,439
91,651
Other taxation and social security
29,858
24,845
Other creditors
4,854,963
3,945,280
5,439,520
5,094,978
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,001,540
646,170