REGISTERED NUMBER: 01114861 (England and Wales)

Denykem Limited

Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms A J Stoner

Mrs M McGee

Mr P Stoner

SECRETARY:

Ms A J Stoner

REGISTERED OFFICE:

Unit 1

Wakefield Road

Ossett

West Yorkshire

WF5 9JA

REGISTERED NUMBER:

01114861 (England and Wales)

ACCOUNTANTS:

SMH Jolliffe Cork Ltd

Accountants & Business Advisors

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Tangible assets

4

448,149

469,031

Investments

5

2,870

2,430

Investment property

6

1,220,000

1,220,000

1,671,019

1,691,461

CURRENT ASSETS

Stocks

182,054

182,091

Debtors

7

205,484

201,048

Cash at bank and in hand

24,690

41,528

412,228

424,667

CREDITORS

Amounts falling due within one year

8

239,251

194,110

NET CURRENT ASSETS

172,977

230,557

TOTAL ASSETS LESS CURRENT LIABILITIES

1,843,996

1,922,018

PROVISIONS FOR LIABILITIES

179,376

179,376

NET ASSETS

1,664,620

1,742,642

CAPITAL AND RESERVES

Called up share capital

9

144

144

Retained earnings

10

1,664,476

1,742,498

SHAREHOLDERS' FUNDS

1,664,620

1,742,642

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 18 September 2025 and were signed on its behalf by:

Ms A J Stoner - Director

1.	STATUTORY INFORMATION

Denykem 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 company's functional and presentation currency is the pound sterling £. All financial information presented has been rounded to the nearest £, unless otherwise stated.

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 represents net invoiced sales of goods, excluding value added tax, but including carriage charges and after making appropriate provisions for foreign exchange rate losses and gains.

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

-

10% on reducing balance

Fixtures and fittings

-

25% on reducing balance and 10% 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.

Listed investments

All listed investments are valued at their current market value.

Stocks

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

Cost includes materials, direct labour and an attributable portion of manufacturing overheads based on normal levels of activity. Net realisable value is based on estimated selling price less further costs expected to be incurred to completion and disposal.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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.

Financial assets are derecognised when and only when; a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or, c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

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 taxation

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.

The assets of the scheme are held separately from those of the company in independently administered funds.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

867,104

295,762

17,033

Additions

380

2,756

7,897

Disposals

-

(29,127

)

-

At 31 December 2024

867,484

269,391

24,930

DEPRECIATION

At 1 January 2024

485,517

224,728

12,416

Charge for year

13,354

7,203

1,175

Eliminated on disposal

-

(26,522

)

-

At 31 December 2024

498,871

205,409

13,591

NET BOOK VALUE

At 31 December 2024

368,613

63,982

11,339

At 31 December 2023

381,587

71,034

4,617

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

77,029

33,886

1,290,814

Additions

-

333

11,366

Disposals

(32,445

)

(346

)

(61,918

)

At 31 December 2024

44,584

33,873

1,240,262

DEPRECIATION

At 1 January 2024

68,518

30,604

821,783

Charge for year

629

828

23,189

Eliminated on disposal

(26,013

)

(324

)

(52,859

)

At 31 December 2024

43,134

31,108

792,113

NET BOOK VALUE

At 31 December 2024

1,450

2,765

448,149

At 31 December 2023

8,511

3,282

469,031

Included in cost of land and buildings is freehold land of £ 200,000 (2023 - £ 200,000 ) which is not depreciated.

5.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST OR VALUATION

At 1 January 2024

2,430

Revaluations

440

At 31 December 2024

2,870

NET BOOK VALUE

At 31 December 2024

2,870

At 31 December 2023

2,430

Cost or valuation at 31 December 2024 is represented by:

Listed

investments

£

Valuation in 2016

(3,820

)

Valuation in 2018

(904

)

Valuation in 2019

562

Valuation in 2020

(1,356

)

Valuation in 2021

538

Valuation in 2022

(161

)

Valuation in 2023

111

Valuation in 2024

440

Cost

7,460

2,870

The quoted investments are held with Lloyds Bank.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

1,220,000

NET BOOK VALUE

At 31 December 2024

1,220,000

At 31 December 2023

1,220,000

The investment property was last valued by the directors in January 2021 based on obtaining appropriate professional guidance. The directors are of the opinion that the valuation remains appropriate as at 31 December 2024.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2015

236,094

Valuation in 2019

10,311

Valuation in 2020

(3,750

)

Valuation in 2021

595,000

Cost

382,345

1,220,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

202,858

198,745

VAT

1,247

900

Prepayments and accrued income

1,379

1,403

205,484

201,048

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

4,354

-

Trade creditors

118,499

89,095

Tax

12,390

2,577

Social security and other taxes

4,517

8,919

Directors' current accounts

82,821

70,866

Accruals and deferred income

16,670

22,653

239,251

194,110

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

144

Ordinary

£1

144

144

10.

RESERVES

Included in retained earnings at 31 December 2024 is an amount of £819,551 (2023: £819,111) which is not distributable. This relates to an accumulated increase in the fair value of investments and investment property, net of deferred tax.

11.	ULTIMATE CONTROLLING PARTY