IRIS Accounts Production v25.1.0.734 08299002 Board of Directors 1.4.24 31.3.25 31.3.25 4/8/25 0 0 false true false false true false Auditors Opinion Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh082990022024-03-31082990022025-03-31082990022024-04-012025-03-31082990022023-03-31082990022023-04-012024-03-31082990022024-03-3108299002ns15:EnglandWales2024-04-012025-03-3108299002ns14:PoundSterling2024-04-012025-03-3108299002ns10:Director12024-04-012025-03-3108299002ns10:PrivateLimitedCompanyLtd2024-04-012025-03-3108299002ns10:SmallEntities2024-04-012025-03-3108299002ns10:Audited2024-04-012025-03-3108299002ns10:SmallCompaniesRegimeForDirectorsReport2024-04-012025-03-3108299002ns10:SmallCompaniesRegimeForAccounts2024-04-012025-03-3108299002ns10:FullAccounts2024-04-012025-03-3108299002ns10:Director32024-04-012025-03-3108299002ns10:Director42024-04-012025-03-3108299002ns10:CompanySecretary12024-04-012025-03-3108299002ns10:RegisteredOffice2024-04-012025-03-3108299002ns5:CurrentFinancialInstruments2025-03-3108299002ns5:CurrentFinancialInstruments2024-03-3108299002ns5:Non-currentFinancialInstruments2025-03-3108299002ns5:Non-currentFinancialInstruments2024-03-3108299002ns5:ShareCapital2025-03-3108299002ns5:ShareCapital2024-03-3108299002ns5:RevaluationReserve2025-03-3108299002ns5:RevaluationReserve2024-03-3108299002ns5:RetainedEarningsAccumulatedLosses2025-03-3108299002ns5:RetainedEarningsAccumulatedLosses2024-03-3108299002ns5:WithinOneYearns5:CurrentFinancialInstruments2025-03-3108299002ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3108299002ns5:RetainedEarningsAccumulatedLosses2024-03-3108299002ns5:RevaluationReserve2024-03-3108299002ns5:RetainedEarningsAccumulatedLosses2024-04-012025-03-31
REGISTERED NUMBER: 08299002 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

THE DAVENTRY ESTATE COMPANY LIMITED

THE DAVENTRY ESTATE COMPANY LIMITED (REGISTERED NUMBER: 08299002)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


THE DAVENTRY ESTATE COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: S Hibbert
J Slack
JWE Aldridge





SECRETARY: Z Campbell





REGISTERED OFFICE: One Angel Square
Angel Street
Northampton
Northamptonshire
NN1 1ED





REGISTERED NUMBER: 08299002 (England and Wales)





AUDITORS: Shaw Gibbs (Audit) Limited
Chartered Certified Accountants
Statutory Auditor
Eagle House
28 Billing Road
Northampton
Northamptonshire
NN1 5AJ

THE DAVENTRY ESTATE COMPANY LIMITED (REGISTERED NUMBER: 08299002)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 8,477,000 8,465,000

CURRENT ASSETS
Debtors 5 26,891 33,264
Cash at bank 327,767 258,026
354,658 291,290
CREDITORS
Amounts falling due within one year 6 25,995 19,673
NET CURRENT ASSETS 328,663 271,617
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,805,663

8,736,617

CREDITORS
Amounts falling due after more than one
year

7

(5,917,743

)

(5,918,216

)

PROVISIONS FOR LIABILITIES (489,053 ) (486,053 )
NET ASSETS 2,398,867 2,332,348

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Investment property reserve 8 2,065,074 2,056,074
Retained earnings 8 332,793 275,274
SHAREHOLDERS' FUNDS 2,398,867 2,332,348

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2025 and were signed on its behalf by:





JWE Aldridge - Director


THE DAVENTRY ESTATE COMPANY LIMITED (REGISTERED NUMBER: 08299002)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1. STATUTORY INFORMATION

The Daventry Estate Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover
Turnover represents rental income from investment properties.

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Comprehensive Income. The fair value is stated on the basis that the properties are valued on an individual basis, rather than collectively.

Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short term deposits with an original maturity date of three months or less.

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 statement of comprehensive income under administrative expenses.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


THE DAVENTRY ESTATE COMPANY LIMITED (REGISTERED NUMBER: 08299002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Deferred tax is recognised on fair value gains on investment properties.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Finance leases
Assets held under finance leases are capitalised in the balance sheet. The interest element of these obligations is charged to the statement of comprehensive income over the relevant period. The capital element of future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2024 8,465,000
Revaluations 12,000
At 31 March 2025 8,477,000
NET BOOK VALUE
At 31 March 2025 8,477,000
At 31 March 2024 8,465,000

THE DAVENTRY ESTATE COMPANY LIMITED (REGISTERED NUMBER: 08299002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


4. INVESTMENT PROPERTY - continued

The investment properties were valued on a fair value basis as at 31 March 2025 by Phillip Smith MRICS of Wilkes Head & Eve LLP.

The constitution of West Northamptonshire Council states that, in the absence of specific alternative objectives, any disposal shall have the objective of securing the best financial return for the council. Consequently any future disposal would be undertaken by means of individual property disposal. Therefore open market value represents fair value for the company.

If the properties were to be sold as one investment portfolio the RICS guidance note 'Valuing Residential Property purpose built for renting' would be followed. On that basis the value of the properties would be £4.43m.

The investment properties were all held under finance leases. The fair value of these assets is as stated above.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 26,050 27,658
Tax - 61
Prepayments and accrued income 841 5,545
26,891 33,264

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Finance leases 472 496
Amounts owed to group undertakings - 150
Tax 15,636 7,990
Accruals and deferred income 9,887 11,037
25,995 19,673

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Finance leases 5,917,743 5,918,216

Amounts falling due in more than five years:

Repayable by instalments
Finance leases 5,915,736 5,916,256

THE DAVENTRY ESTATE COMPANY LIMITED (REGISTERED NUMBER: 08299002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


8. RESERVES
Investment
Retained property
earnings reserve Totals
£    £    £   

At 1 April 2024 275,274 2,056,074 2,331,348
Profit for the year 66,519 66,519
Reserves transfer (9,000 ) 9,000 -
At 31 March 2025 332,793 2,065,074 2,397,867

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robyn Liddell (Senior Statutory Auditor)
for and on behalf of Shaw Gibbs (Audit) Limited

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other members of the group.

11. CONTROLLING PARTY

The directors consider that The Daventry Estate Company Limited (TDECL) is a "controlled" company under the terms of the Local Government and Housing Act 1989 and the Local Authorities (Companies) Order 1995. This is because West Northants Council (WNC) is the sole shareholder of the company. As such WNC has 100% of the voting rights at general meetings and has the sole right to appoint and remove directors.

WNC can be contacted at One Angel Square, Northampton, NN1 1ED.