Registration number: 04339853

Derwent Resources Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Derwent Resources Limited

Company Information

Director	Dr George Henry Stephen Staley

Company secretary

Dr Petra Katherina Staley

Registered office

The Hollow Penn Lane Melbourne Derbyshire DE73 8EP

Accountants

Coates and Partners Limited The Old Vicarage 51 St John Street Ashbourne Derbyshire DE6 1GP

Derwent Resources Limited

(Registration number: 04339853)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	5,305	7,723
Investment property	5	738,086	697,152
Other financial assets	7	45,053	65,363
		788,444	770,238
Current assets
Debtors	8	37,333	35,725
Cash at bank and in hand		271,282	346,600
		308,615	382,325
Creditors: Amounts falling due within one year	9	(33,873)	(32,328)
Net current assets		274,742	349,997
Total assets less current liabilities		1,063,186	1,120,235
Provisions for liabilities		(78,722)	(55,286)
Net assets		984,464	1,064,949
Capital and reserves
Called up share capital		100	100
Other reserves		96,662	145,150
Retained earnings		887,702	919,699
Shareholders' funds		984,464	1,064,949

Derwent Resources Limited

(Registration number: 04339853)
Balance Sheet as at 31 December 2024 (continued)

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.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

Approved and authorised by the director on 17 September 2025
 

......................................... Dr George Henry Stephen Staley Director

Derwent Resources Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 04339853.

The address of its registered office is:
The Hollow
Penn Lane
Melbourne
Derbyshire
DE73 8EP

These financial statements were authorised for issue by the director on 17 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Derwent Resources Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% reducing balance
Motor vehicles	25% reducing balance
Office equipment	33% straight line

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Derwent Resources Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

Derwent Resources Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	36,059	32,000	68,059
Disposals	(184)	-	(184)
At 31 December 2024	35,875	32,000	67,875
Depreciation
At 1 January 2024	32,607	27,729	60,336
Charge for the year	1,311	1,067	2,378
Eliminated on disposal	(144)	-	(144)
At 31 December 2024	33,774	28,796	62,570
Carrying amount
At 31 December 2024	2,101	3,204	5,305
At 31 December 2023	3,452	4,271	7,723

5	Investment properties

	£
At 1 January 2024	697,152
Additions	87,934
Fair value adjustments	(47,000)
At 31 December 2024	738,086

The investment properties class of fixed assets were revalued on 31 December 2024 by the director who is internal to the company. The basis of this valuation was at open market value. This class of asset has a current value of £738,086 (2023: £697,152) and a carrying amount at historical cost of £404,962 (2023: £404,962). The depreciation of the historical cost is £Nil (2023: £Nil).

There has been no valuation of investment property by an independent valuer.

Derwent Resources Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

6	Investments

Other investments

The market value of the listed investments at 31 December 2024 was £43,954 (2023 - £62,874).

7	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 January 2024	65,363	65,363
Fair value adjustments	(12,862)	(12,862)
Disposals	(7,448)	(7,448)
At 31 December 2024	45,053	45,053
Impairment
Carrying amount
At 31 December 2024	45,053	45,053

8

Debtors

Current	2024 £	2023 £
Trade debtors	4,044	2,515
Prepayments	1,110	3,673
Other debtors	32,179	29,537
	37,333	35,725

Derwent Resources Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

9

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	265	1,753
Taxation and social security	11,898	10,459
Accruals and deferred income	15,614	15,609
Other creditors	6,096	4,507
	33,873	32,328