REGISTERED NUMBER: 04290008 (England and Wales)

Financial Statements For The Year Ended 31 March 2025

for

Darby Group Ltd

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Directors:

R A Darby

P M Darby

A J Darby

Secretary:

R A Darby

Registered office:

Ironstone House

4 Ironstone Way

Brixworth

Northampton

Northamptonshire

NN6 9UD

Registered number:

04290008 (England and Wales)

Senior statutory auditor:

Richard Wilch, FCCA

Auditors:

Cottons Accountants LLP

The Stables

Church Walk

Daventry

Northamptonshire

NN11 4BL

Fixed assets

Tangible assets

4

199,502

218,536

Investments

5

1,116

1,116

Investment property

6

51,070,000

51,000,000

51,270,618

51,219,652

Current assets

Stocks

1,183,720

1,183,720

Debtors

7

1,496,255

1,680,508

Investments

8

1,327,771

1,372,608

Cash at bank

1,765,192

1,430,123

5,772,938

5,666,959

Creditors

Amounts falling due within one year

9

2,369,142

2,408,925

Net current assets

3,403,796

3,258,034

Total assets less current liabilities

54,674,414

54,477,686

Creditors

Amounts falling due after more than one year

10

(14,663,125

)

(14,663,125

)

Provisions for liabilities

13

(1,479,373

)

(1,466,031

)

Net assets

38,531,916

38,348,530

Capital and reserves

Called up share capital

14

10,000

10,000

Revaluation reserve

15

23,717,714

23,665,214

Capital redemption reserve

15

10

10

Other reserves

15

10,473,567

10,473,567

Retained earnings

15

4,330,625

4,199,739

Shareholders' funds

38,531,916

38,348,530

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 4 December 2025 and were signed on its behalf by:

R A Darby - Director

1.	Statutory information

Darby Group Ltd 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.

The financial statements are prepared in sterling, which is the functional currency of the Monetary amounts in these financial statements are rounded to the nearest £.

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.

Land and buildings

-

2% straight line

Plant and machinery etc

-

20% on reducing balance and 15% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

The properties are maintained to a high level on an annual basis so there is no requirement for a dilapidation provision.

Stocks

Work in progress consists of land and buildings held for development for sale or use as investment property.

Work in progress is valued at the lower of cost and net realisable value.

Financial instruments

Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial instruments

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial instruments

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

Investments

Investments are shown at the lower of cost and net realisable value.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

3.	Employees and directors

The average number of employees during the year was 13 (2024 - 13 ) .

4.	Tangible fixed assets

Freehold

Plant and

Fixtures

property

machinery

& equipment

Totals

£

£

£

£

Cost

At 1 April 2024

120,000

-

316,125

436,125

Additions

-

4,755

1,789

6,544

At 31 March 2025

120,000

4,755

317,914

442,669

Depreciation

At 1 April 2024

13,000

-

204,589

217,589

Charge for year

2,400

647

22,531

25,578

At 31 March 2025

15,400

647

227,120

243,167

Net book value

At 31 March 2025

104,600

4,108

90,794

199,502

At 31 March 2024

107,000

-

111,536

218,536

5.	Fixed asset investments

31.3.25

31.3.24

£

£

Shares in group undertakings

116

116

Other investments not loans

1,000

1,000

1,116

1,116

Additional information is as follows:

Shares in

group

companies

£

Cost

At 1 April 2024

and 31 March 2025

116

Net book value

At 31 March 2025

116

At 31 March 2024

116

Investments (neither listed nor unlisted) were as follows:

31.3.25

31.3.24

£

£

Freehold interest

1,000

1,000

The company's investments at the Balance sheet date in the share capital of companies include the following:

Associated companies

Darby Properties Limited

Registered office: United Kingdom

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

The Darby Building Company Ltd

Registered office: United Kingdom

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

6.	Investment property

Total

£

Fair value

At 1 April 2024

51,000,000

Revaluations

70,000

At 31 March 2025

51,070,000

Net book value

At 31 March 2025

51,070,000

At 31 March 2024

51,000,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out over August 2023 by Underwoods, Chartered Surveyors, who are not connected with the company.

The valuation made August 2023 was £50,350,000

The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

These values have been assessed and updated by a qualified Chartered Surveyor.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

25,173,361

Cost

25,896,639

51,070,000

7.

Debtors: amounts falling due within one year

31.3.25

31.3.24

£

£

Trade debtors

576,099

660,860

Other debtors

920,156

1,019,648

1,496,255

1,680,508

8.	Current asset investments

31.3.25

31.3.24

£

£

Investments in UK real estate

1,327,770

1,372,607

Shares

1

1

1,327,771

1,372,608

9.

Creditors: amounts falling due within one year

31.3.25

31.3.24

£

£

Trade creditors

66,661

93,765

Taxation and social security

486,046

382,072

Other creditors

1,816,435

1,933,088

2,369,142

2,408,925

10.

Creditors: amounts falling due after more than one year

31.3.25

31.3.24

£

£

Bank loans

14,663,125

14,663,125

11.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Within one year

78,800

72,075

Between one and five years

102,414

46,479

181,214

118,554

12.	Secured debts

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

14,663,125

14,663,125

The long-term loans are secured by fixed charges over certain of the company's investment properties

13.	Provisions for liabilities

31.3.25

31.3.24

£

£

Deferred tax

Accelerated capital allowances

23,726

27,884

On investment property

revaluations

1,455,647

1,438,147

1,479,373

1,466,031

Deferred

tax

£

Balance at 1 April 2024

1,466,031

Provided during year

13,342

Balance at 31 March 2025

1,479,373

14.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

30

Ordinary "A" Shares

1

30

30

9,970

Ordinary "B" Shares

1

9,970

9,970

10,000

10,000

15.

Reserves

Capital

Retained

Revaluation

redemption

Other

earnings

reserve

reserve

reserves

Totals

£

£

£

£

£

At 1 April 2024

4,199,739

23,665,214

10

10,473,567

38,338,530

Profit for the year

444,386

444,386

Dividends

(261,000

)

(261,000

)

Revaluation movements

(70,000

)

70,000

-

-

-

Deferred tax

17,500

(17,500

)

-

-

-

At 31 March 2025

4,330,625

23,717,714

10

10,473,567

38,521,916

16.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the auditors was unqualified.

Richard Wilch, FCCA (Senior Statutory Auditor)

for and on behalf of Cottons Accountants LLP

17.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

P M Darby

Balance outstanding at start of year

-

-

Amounts advanced

1,931

-

Amounts repaid

(161

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,770

-

18.	Auditor liability limitation agreement

Upon appointment of Cottons Accountants LLP as auditors, the company entered into a limitation liability agreement with the auditors and this was approved by resolution on 17 June 2025. Liability is limited to the lesser of 20 times the audit fee or £145,000. In accordance with section 537 of CA06, the effect of the liability limitation agreement is to limit the auditor's liability to less than such amount as is fair and reasonable, as determined by that section, the agreement shall have effect as if it limited the liability to such amount as is fair and reasonable, as so determined.

The agreement limits the liability owed to the company by the auditors in respect of any negligence, default or breach of duty, or breach of trust, occurring in the course of the audit of the accounts for the year ending 31st March 2025.

The agreement does not limit liability for any instance of fraud or dishonesty on behalf of the auditor or any other liability that cannot be excluded or restricted by applicable laws or regulations.

19.	Controlling party

The company is controlled jointly by Messrs RA, PM and A J Darby, by way of their shareholdings.