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Company No: 08389307 (England and Wales)

DENMAN TRUSTEES LIMITED

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

DENMAN TRUSTEES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

DENMAN TRUSTEES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
DENMAN TRUSTEES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Investments 4 948,601 908,892
948,601 908,892
Current assets
Debtors
- due within one year 5 0 2,893
- due after more than one year 5 1,083,468 901,066
Cash at bank and in hand 11,913 150,081
1,095,381 1,054,040
Creditors: amounts falling due within one year 6 ( 14,837) ( 10,889)
Net current assets 1,080,544 1,043,151
Total assets less current liabilities 2,029,145 1,952,043
Net assets 2,029,145 1,952,043
Capital and reserves
Called-up share capital 7 1,000 1,000
Share premium account 1,113,821 1,113,821
Other reserves 420,420 420,420
Profit and loss account 493,904 416,802
Total shareholder's funds 2,029,145 1,952,043

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Denman Trustees Limited (registered number: 08389307) were approved and authorised for issue by the Board of Directors on 07 May 2025. They were signed on its behalf by:

M D Denman
Director
DENMAN TRUSTEES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
DENMAN TRUSTEES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

Denman Trustees 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 Camers Badminton Road, Old Sodbury, Bristol, BS37 6RG, 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 Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Prior year adjustment

During the preparation of the financial statements for the year ended 31 December 2024, it was identified that the amount owed by group undertakings of £901,066 has a minimum notice period of repayment of 365 days and therefore should be shown as due after more than one year. Further details of this are provided in note 2 to the accounts.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

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.

2. Prior year adjustment

As previously reported Adjustment As restated
Year ended 31 December 2023 £ £ £
Debtors due within one year 903,959 (901,066) 2,893
Debtors due after more than one year 0 901,066 901,066

During the preparation of the financial statements for the year ended 31 December 2024, it was identified that the amount owed by group undertakings of £901,066 has a minimum notice period of repayment of 365 days and therefore should be shown as due after more than one year.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 January 2024 50,505
At 31 December 2024 50,505
Carrying value at 31 December 2024 50,505
Carrying value at 31 December 2023 50,505

Listed investments Total
£ £
Cost or valuation before impairment
At 01 January 2024 858,387 858,387
Additions 45,004 45,004
Disposals ( 59,446) ( 59,446)
Movement in fair value 54,151 54,151
At 31 December 2024 898,096 898,096
Carrying value at 31 December 2024 898,096 898,096
Carrying value at 31 December 2023 858,387 858,387

5. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Other debtors 0 2,893
Debtors: amounts falling due after more than one year
Amounts owed by Group undertakings 1,083,468 901,066

6. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 4,140 4,050
Corporation tax 10,697 6,839
14,837 10,889

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

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

8. Related party transactions

At 31 December 2024, there was a balance due from the shareholders of £nil (2023 - £2,893). The loan is interest free and repayable on demand.

The Company has taken advantage of the exemption available under FRS 102 section 1 A.C. 35 to not disclose transactions within a wholly owned group.