Registration number: 04328933

Danum Developments Limited

Contents

Company Information	1
Strategic Report	2
Directors' Report	3
Statement of Directors' Responsibilities	4
Independent Auditor's Report	5 to 8
Statement of Comprehensive Income	9
Balance Sheet	10
Statement of Changes in Equity	11
Statement of Cash Flows	12
Notes to the Financial Statements	13 to 27

Danum Developments Limited

Company Information

Directors

Mr S L Mosby Mr S Mosby

Registered office

Rands Lane Armthorpe Doncaster South Yorkshire DN3 3DZ

Auditors

Hawsons Chartered Accountants 5 Sidings Court White Rose Way Doncaster South Yorkshire DN4 5NU

Danum Developments Limited

Strategic Report for the Year Ended 31 December 2024

The directors present their strategic report for the year ended 31 December 2024.

Principal activity

The principal activity of the company is property development.

Fair review of the business and future developments

The company has continued to maintain its main customer base through the year and has continued to provide construction services in the new build residential sector. The sector has remained positive although changes in the political and economic climate have affected activity towards the end of the year. New opportunities have been pursued for the coming year that will enable the company to maintain its turnover and profitability. The directors are satisfied with the results for the year given the general economic climate.

The company's key financial and other performance indicators during the year were as follows:

Financial KPIs	Unit	2024	2023
Turnover	£	15,109,399	14,947,532
Gross profit	£	1,567,929	1,288,104
Gross profit margin	%	10	9
Profit before tax	£	957,216	683,437
Net assets	£	3,169,846	2,647,926
Working capital	£	2,673,463	2,255,108

Principal risks and uncertainties

Confidence in the economy continues to be a concern but given the achievements in the year, the directors remain optimistic for the coming year. The company continues to have a healthy project pipeline and is actively seeking new opportunities.

Given the nature of the business and size of the projects, liquidity is considered a risk but this is well managed through both internal and external financial reporting. Credit terms are agreed in advance with customers and all long term contracts are invoiced at regular internals, thus mitigating the exposure risk to the company. The company has a good relationship all funders and as such, existing finance is well managed and further finance could be raised should it be required.

Because of the company’s size and structure, the company is well positioned to make the most of every opportunity that they encounter.

Approved and authorised by the Board on 26 September 2025 and signed on its behalf by:
 

......................................... Mr S L Mosby Director

Danum Developments Limited

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr S L Mosby

Mr S Mosby

Information included in the Strategic Report
Detailed information in respect of principal activities, future developments, review of business performance, principal risks and uncertainties and KPI's can be found in the strategic report and form part of this report by cross-reference.

Dividends

An interim dividend of £170,000 (2023: £300,000) was paid during the year.

Directors' liabilities

The company has made qualifying third party indemnity provisions for the benefits of its directors which were made during the year and remain in force at the date of this report.

Disclosure of information to the auditors

Each director of the company who held office at the date of the approval of this Annual Report, as set out above, confirms that:

• so far as they are aware, there is no relevant audit information (information needed by the company's auditors in connection with preparing their report) of which the company's auditors are unaware, and

• they have taken all the steps they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Reappointment of auditors

The auditors Hawsons Chartered Accountants are deemed to be reappointed under section 478(2) of the Companies Act 2006.

Approved and authorised by the Board on 26 September 2025 and signed on its behalf by:
 

......................................... Mr S L Mosby Director

Danum Developments Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Danum Developments Limited

Independent Auditor's Report to the Members of Danum Developments Limited

Opinion

We have audited the financial statements of Danum Developments Limited (the 'company') for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

•	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
•	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
•	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Danum Developments Limited

Independent Auditor's Report to the Members of Danum Developments Limited (continued)

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

•	the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

•	the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

•	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
•	the financial statements are not in agreement with the accounting records and returns; or
•	certain disclosures of directors’ remuneration specified by law are not made; or
•	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Danum Developments Limited

Independent Auditor's Report to the Members of Danum Developments Limited (continued)

Auditor responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The company is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the company and the environment it operates within, we determined that the laws and regulations which were most significant included FRS 102, Companies Act 2006 and Health and Safety regulations [add further laws and regulations, as appropriate to the entity]. We considered the extent to which non-compliance with these laws and regulations might have a material effect on the financial statements, including how fraud might occur. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate journal entries to improve the company’s result for the period, and management bias in key accounting estimates.

Audit procedures performed by the engagement team included:

•

Discussions with management and those responsible for legal compliance procedures within the company to obtain an understanding of the legal and regulatory framework applicable to the company and how the company complies with that framework, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

•	Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud and non-compliance with laws and regulations;

•	Challenging assumptions and judgements made by management in their significant accounting estimates, in relation to the valuation of long-term work in progress.

•	Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations or posted by senior management.

There are inherent limitations in the audit procedures described above and the more removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council's website at https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditors-
responsibilities-for-the-audit/. This description forms part of our auditor's report.

Danum Developments Limited

Independent Auditor's Report to the Members of Danum Developments Limited (continued)

Other matters

The financial statements for the comparative year ended 31 December 2023 were unaudited.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Daniel Wood (Senior Statutory Auditor)
For and on behalf of Hawsons Chartered Accountants, Statutory Auditor

5 Sidings Court
White Rose Way
Doncaster
South Yorkshire
DN4 5NU

26 September 2025

Danum Developments Limited

Statement of Comprehensive Income for the Year Ended 31 December 2024

	Note	2024 £	Unaudited 2023 £
Turnover	2	15,109,399	14,947,532
Cost of sales		(13,541,470)	(13,659,428)
Gross profit		1,567,929	1,288,104
Administrative expenses		(717,892)	(575,875)
Other operating income	3	65,425	65,890
Operating profit	5	915,462	778,119
Revaluation gain on investment property		90,000	-
Other interest receivable and similar income	6	46,815	783
Interest payable and similar expenses	7	(95,557)	(95,465)
Profit before tax		956,720	683,437
Tax on profit	11	(264,357)	(162,866)
Profit for the financial year		692,363	520,571
Total comprehensive income for the financial year		692,363	520,571

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Danum Developments Limited

(Registration number: 04328933)

Balance Sheet as at 31 December 2024

	Note	2024 £	Unaudited 2023 £
Fixed assets
Tangible assets	12	465,356	414,844
Investment property	13	1,150,000	1,060,000
		1,615,356	1,474,844
Current assets
Stocks	14	250	250
Debtors	15	4,064,608	3,040,312
Cash at bank and in hand		345,022	820,856
		4,409,880	3,861,418
Creditors: Amounts falling due within one year	17	(1,735,478)	(1,606,310)
Net current assets		2,674,402	2,255,108
Total assets less current liabilities		4,289,758	3,729,952
Creditors: Amounts falling due after more than one year	17	(925,228)	(898,345)
Provisions for liabilities	18	(194,241)	(183,681)
Net assets		3,170,289	2,647,926
Capital and reserves
Called up share capital		200	200
Revaluation reserve	21	551,458	483,958
Retained earnings	21	2,618,631	2,163,768
Shareholders' funds		3,170,289	2,647,926

These financial statements were approved and authorised for issue by the Board on 26 September 2025 and signed on its behalf by:
 

......................................... Mr S L Mosby Director

Danum Developments Limited

Statement of Changes in Equity for the Year Ended 31 December 2024

	Share capital £	Revaluation reserve £	Retained earnings £	Total £
At 1 January 2024	200	483,958	2,163,768	2,647,926
Profit for the year	-	-	692,363	692,363
Revaluation reserves transfer	-	67,500	(67,500)	-
Total comprehensive income	-	67,500	624,863	692,363
Dividends	-	-	(170,000)	(170,000)
At 31 December 2024	200	551,458	2,618,631	3,170,289