Denbury Developments Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Denbury Developments Limited

Balance Sheet

31 March 2025

	Note	2025 £	(As restated) 2024 £
Fixed assets
Tangible assets	4	35,893	46,340
Investment property	5	2,150,014	2,150,014
		2,185,907	2,196,354
Current assets
Debtors	6	44,733	19,046
Cash at bank and in hand		9,251	8,109
		53,984	27,155
Creditors: Amounts falling due within one year	7	(245,290)	(276,083)
Net current liabilities		(191,306)	(248,928)
Total assets less current liabilities		1,994,601	1,947,426
Provisions for liabilities		(201,922)	(191,765)
Net assets		1,792,679	1,755,661
Capital and reserves
Called up share capital	8	101	101
Profit and loss account		1,792,578	1,755,560
Shareholders' funds		1,792,679	1,755,661

Denbury Developments Limited

Balance Sheet

31 March 2025

For the financial year ending 31 March 2025 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 22 December 2025
 

......................................... Mr M H Perryman Director

Company Registration Number: 07566533

Denbury Developments Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o Denbury Diesels
Totnes Road
Newton Abbot
Devon
TQ12 5NE

These financial statements were authorised for issue by the director on 22 December 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Reclassification of comparative amounts

The prior period has been restated to recognise the £850,000 fair value movement on investment property in the profit & loss account, in line with the company's accounting policy. The effect of this restatement is an increase in profit for the year of £850,000, a reduction in the fair value reserve of £850,000 and an increase in the profit and loss account reserve of £850,000.

The prior period has been restated to reclassify the debtors due greater than one year to debtors due within one year, in line with the terms of the debtor. The reclassification is shown in note 6, where all amounts are due within one year.

Revenue recognition

Turnover represents rents receivable in the year, rent is recognised in the period it relates to.

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 corporation 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.

Denbury Developments Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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
Office Equipment	25% straignt line
Plant and Machinery	20% reducing balance
Motor Vehicles	25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Denbury Developments Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2024 - 0).

Denbury Developments Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 April 2024	21,928	47,680	12,706	82,314
Additions	-	-	501	501
At 31 March 2025	21,928	47,680	13,207	82,815
Depreciation
At 1 April 2024	15,487	11,920	8,567	35,974
Charge for the year	1,079	8,940	929	10,948
At 31 March 2025	16,566	20,860	9,496	46,922
Carrying amount
At 31 March 2025	5,362	26,820	3,711	35,893
At 31 March 2024	6,441	35,760	4,139	46,340

5	Investment properties

	2025 £
At 1 April	2,150,014
At 31 March 2025 and 31 March 2024	2,150,014

The historical cost of investment property is £1,275,014.

There has been no valuation of investment property by an independent valuer. In the opinion of the directors there has been no material change in its market value.

6

Debtors

	2025 £	(As restated) 2024 £
Trade debtors	-	9,046
Other debtors	44,733	10,000
	44,733	19,046

The 2024 comparative figures have been restated to show all debtors as falling due within one year.

Denbury Developments Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest	10	242,560	242,560
Taxation and social security		1,230	33
Accruals and deferred income		1,500	1,590
Other creditors		-	31,900
		245,290	276,083

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100
A Ordinary Shares of £1 each	1	1	1	1
	101	101	101	101

9

Reserves

The profit and loss accounts represents cumulative profit or losses, net of dividends paid and other adjustments. Included in the carried forward is £850,000 in relation to unrealised gains on investment properties and a £192,949 unrealised loss in relation to the deferred tax on these gains which are not distributable.

The deferred tax provision is calculated at a corporation tax rate of 25% (2024 - 25%).

Denbury Developments Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

10	Related party transactions

Transactions with the director

2025	At 1 April 2024 £	Advances to director £	At 31 March 2025 £
Mr M H Perryman
Mr M H Perryman	(31,900)	41,499	9,599

Loans are unsecured, interest free and repayable on demand.

Summary of transactions with other related parties

At the year end the company owed Denbury (Holdings) Ltd, the parent company of this company, an amount of £237,977 (2024: £237,977). The loan is unsecured, interest free and repayable on demand.

At the year end the company was owed an amount of £35,134 (2024: £10,000) from Courtyard Cottages (Denbury) Management Company Limited, a company owned by the Director Mr M Perryman. The loan is unsecured, interest free and repayable on demand.

At the year end the company owed an amount of £4,583 (2024: £4,583) to Denbury Diesels Ltd, a company owned by the parent company of this company. The loan is unsecured, interest free and repayable on demand.

11	Off-balance sheet arrangements

Other financial commitments
There is a legal Mortgage from the company in favour of Lloyds Bank over the Freehold Property for the liabilities of the company to the Lloyds Bank. The mortgage has been satisfied post year end.

There is a Debenture by the company including fixed and floating charges over the whole of the assets of the company in favour of Lloyds Bank. The debenture has been satisifed post year end.

12	Parent and ultimate parent undertaking

The company's immediate and ultimate parent is Denbury (Holdings) Ltd, incorporated in England and Wales.

  The company's registered office is c/o Denbury Diesels, Totnes Road, Newton Abbot, Devon, TQ12 5NE