Company registration number 09241571 (England and Wales)
D C DENNIS & SON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
D C DENNIS & SON LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
D C DENNIS & SON LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
97,419
Biological assets
5
-
0
25,080
Investments
4
-
0
125,097
-
0
247,596
Current assets
Stocks
-
210,662
Debtors
6
-
0
20,512
Cash at bank and in hand
82
-
0
82
231,174
Creditors: amounts falling due within one year
7
(28,497)
(378,339)
Net current liabilities
(28,415)
(147,165)
Total assets less current liabilities
(28,415)
100,431
Creditors: amounts falling due after more than one year
8
-
0
(233,193)
Net liabilities
(28,415)
(132,762)
Capital and reserves
Called up share capital
300
300
Profit and loss reserves
(28,715)
(133,062)
Total equity
(28,415)
(132,762)
D C DENNIS & SON LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 7 May 2025 and are signed on its behalf by:
Mr D C Dennis
Mr J D Dennis
Director
Director
Company registration number 09241571 (England and Wales)
D C DENNIS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

D C Dennis & Son Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.

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.

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. The principal accounting policies adopted are set out below.

1.2
Going concern

The company ceased trueto trade on 30 September 2024, as such, the directors do not deem it necessary to prepare the accounts on a going concern basis.

1.3
Turnover

Turnover represents amounts receivable for sales of milk and livestock net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Land and buildings leasehold
4% per annum on net book value
Plant and machinery
15% per annum on net book value
Tractors
15% per annum on cost
Motor vehicles
20% per annum on net book value

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.

D C DENNIS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Biological assets

Biological assets are recognised only when three recognition criteria have been fulfilled:

Where the company opts to measure a biological asset under the fair value model on initial recognition it must carry the asset at fair value at each reporting date. Changes in fair value less costs to sell are recognised in profit or loss.

 

Where the company opts to measure agricultural produce harvested from the biological asset it is measured at fair value less costs to sell, at the point of harvest. This measurement becomes the cost at the date the company applies Section 13 (Inventories) of FRS 102 to the agricultural produce.

The dairy herd comprises mature animals kept for the sale of their produce.

1.6
Fixed asset investments

Investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.7
Stocks

Stock is valued at the lower of cost and net realisable value.

 

Animals reared and crops grown on the farm are valued in accordance with the principles contained in HM Revenue and Customs' HS232 whereby an estimate is made for deemed cost based on a proportion of estimated market value.

1.8
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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
7
D C DENNIS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2023
21,207
509,451
530,658
Additions
-
0
3,392
3,392
Disposals
(21,207)
(512,843)
(534,050)
At 30 September 2024
-
0
-
0
-
0
Depreciation and impairment
At 1 October 2023
6,149
427,090
433,239
Eliminated in respect of disposals
(6,149)
(427,090)
(433,239)
At 30 September 2024
-
0
-
0
-
0
Carrying amount
At 30 September 2024
-
0
-
0
-
0
At 30 September 2023
15,058
82,361
97,419
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
-
0
125,097
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 October 2023
125,097
Disposals
(125,097)
At 30 September 2024
-
Carrying amount
At 30 September 2024
-
At 30 September 2023
125,097
D C DENNIS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
5
Biological assets
Dairy
£
Fair value
At 1 October 2023
25,080
Disposals
(25,080)
At 30 September 2024
-
0
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
1,604
Other debtors
-
0
18,908
-
0
20,512
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-
0
190,654
Trade creditors
302
8,203
Taxation and social security
1,529
881
Other creditors
26,666
178,601
28,497
378,339

The bank loan balance includes the current portion of the company's Bounce Back Loan of £0 (2023: £10,000) which is backed by a government guarantee of 100%.

 

 

The bank loan balance also includes the current portion of the company's bank loan of £0 (2023: £29,498).

 

 

The bank loan and overdraft was secured by way of a fixed and floating charge over the assets of the company and property owned by Mr J D Dennis. This charge was satisfied on 15 October 2024.

8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
189,842
Other creditors
-
0
43,351
-
0
233,193
D C DENNIS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
8
Creditors: amounts falling due after more than one year
(Continued)
- 7 -

The bank loan and overdraft was secured by way of a fixed and floating charge over the assets of the company and property owned by Mr J D Dennis. This charge was satisfied on 15 October 2024.

 

Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
-
50,184
9
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Two directors
2.25
15,061
72,678
252
(87,991)
-
15,061
72,678
252
(87,991)
-

The loans to the directors' were unsecured and repayable on demand.

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