REGISTERED NUMBER: 02059637 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Denwire Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S T Christensen

Ms I T Christensen

SECRETARY:

Ms I T Christensen

REGISTERED OFFICE:

Blackbrook Road

Narrowboat Way

Dudley

West Midlands

DY2 0AF

REGISTERED NUMBER:

02059637 (England and Wales)

ACCOUNTANTS:

Dalton Pardoe Limited

Chartered Accountants

794 High Street

Kingswinford

West Midlands

DY6 8BQ

FIXED ASSETS

Tangible assets

4

2,242,210

2,307,613

Investment property

5

800,000

800,000

3,042,210

3,107,613

CURRENT ASSETS

Stocks

1,574,122

1,927,145

Debtors

6

2,794,765

2,296,485

Cash at bank and in hand

1,472,102

1,361,339

5,840,989

5,584,969

CREDITORS

Amounts falling due within one year

7

474,587

821,123

NET CURRENT ASSETS

5,366,402

4,763,846

TOTAL ASSETS LESS CURRENT LIABILITIES

8,408,612

7,871,459

CREDITORS

Amounts falling due after more than one year

8

(287,807

)

(319,167

)

PROVISIONS FOR LIABILITIES

(123,163

)

(134,855

)

NET ASSETS

7,997,642

7,417,437

CAPITAL AND RESERVES

Called up share capital

10

100,000

100,000

Revaluation reserve

11

1,384,471

1,384,471

Retained earnings

11

6,513,171

5,932,966

SHAREHOLDERS' FUNDS

7,997,642

7,417,437

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2025 and were signed on its behalf by:

S T Christensen - Director

1.	STATUTORY INFORMATION

Denwire 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

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

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2024

2,260,000

424,373

18,234

2,702,607

Additions

-

-

4,000

4,000

At 31 December 2024

2,260,000

424,373

22,234

2,706,607

DEPRECIATION

At 1 January 2024

45,200

334,805

14,989

394,994

Charge for year

45,200

22,392

1,811

69,403

At 31 December 2024

90,400

357,197

16,800

464,397

NET BOOK VALUE

At 31 December 2024

2,169,600

67,176

5,434

2,242,210

At 31 December 2023

2,214,800

89,568

3,245

2,307,613

Cost or valuation at 31 December 2024 is represented by:

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

Valuation in 2017

205,840

-

-

205,840

Valuation in 2023

736,712

-

-

736,712

Cost

1,317,448

424,373

22,234

1,764,055

2,260,000

424,373

22,234

2,706,607

If freehold property had not been revalued they would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

1,317,448

1,317,448

Aggregate depreciation

142,562

116,213

Value of land in freehold land and buildings

380,700

380,700

Freehold property were valued on an open market basis on 1 July 2023 by Messrs Sellers Chartered Surveyors .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

800,000

NET BOOK VALUE

At 31 December 2024

800,000

At 31 December 2023

800,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2017

57,960

Valuation in 2023

390,000

Cost

352,040

800,000

If investment property had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

352,040

352,040

Investment property was valued on an open market basis on 1 July 2023 by Messrs Sellers Chartered Surveyors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

549,269

585,296

Other debtors

2,235,503

1,711,189

VAT

9,993

-

2,794,765

2,296,485

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

1,387

-

Trade creditors

89,128

352,711

Tax

351,182

351,079

Social security and other taxes

25,386

25,095

VAT

-

84,734

Accrued expenses

7,504

7,504

474,587

821,123

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

277,807

309,167

Other creditors - 1-2 years

10,000

10,000

287,807

319,167

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank overdraft

1,387

-

Bank loans

277,807

309,167

279,194

309,167

Bank loans and overdrafts are secured by way of a floating charge over the company's assets and a fixed charge over the company's freehold and investment property.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100,000

Ordinary

£1

100,000

100,000

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 January 2024

5,932,966

1,384,471

7,317,437

Profit for the year

1,145,205

1,145,205

Dividends

(565,000

)

(565,000

)

At 31 December 2024

6,513,171

1,384,471

7,897,642

12.	CONTINGENT LIABILITIES

The company has given a guarantee amounting to £40,000 in respect of the VAT duty deferment scheme. No liability is expected to arise under the guarantee.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is Plan B UK ApS, a company registered in Denmark.