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Company Registration No. NI637253 (Northern Ireland)
Dune (Investments) Limited Unaudited accounts for the year ended 31 March 2023
Dune (Investments) Limited Unaudited accounts Contents
Page
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Dune (Investments) Limited Company Information for the year ended 31 March 2023
Directors
Raymond Duddy John Duddy Sandra Duddy
Company Number
NI637253 (Northern Ireland)
Registered Office
4 The Grange Shore Road Newtownabbey County Antrim BT37 0UJ
Accountants
J H & Co Accountants Ltd 51 Breton Hall Lisburn BT28 3XY
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Dune (Investments) Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
92,575 
92,575 
Investments
323,960 
284,877 
416,535 
377,452 
Current assets
Cash at bank and in hand
272,114 
331,384 
Creditors: amounts falling due within one year
(646,648)
(649,327)
Net current liabilities
(374,534)
(317,943)
Net assets
42,001 
59,509 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
41,901 
59,409 
Shareholders' funds
42,001 
59,509 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2023 and were signed on its behalf by
Raymond Duddy Director Company Registration No. NI637253
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Dune (Investments) Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Dune (Investments) Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI637253. The registered office is 4 The Grange, Shore Road, Newtownabbey, County Antrim, BT37 0UJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention, modified to include investment properties and certain fixed asset investments at fair value. The principal accounting policies adopted are set out below.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property, which is property held to earn rentals or capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit or loss. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
Fixed Asset Investments
Fixed Asset Investments are recorded in the accounts initially at cost and then at fair value at the period end. The uplift from cost to fair value is recognised in the income statement in the period.
Cash at hand and in bank
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown with borrowings in current liabilities.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of the direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Dune (Investments) Limited Notes to the Accounts for the year ended 31 March 2023
Leases
Rental income from operating lease is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
4
Investment property
2023 
£ 
Fair value at 1 April 2022
92,575 
At 31 March 2023
92,575 
Investment property comprises of two properties, 1 Ainsworth Street and 13 Forster Street Belfast. The investment property at 9 The Grange Newtownabbey was sold during the year.
5
Investments
Other investments 
£ 
Valuation at 1 April 2022
284,877 
Additions
50,164 
Fair value adjustments
(11,081)
Valuation at 31 March 2023
323,960 
Investments are recorded at fair value as determined by Quilter Cheviot Stockbrokers.
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Other creditors
646,648 
649,327 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
13 A Ordinary shares of £1 each
13 
13 
13 B Ordinary shares of £1 each
13 
13 
37 C Ordinary shares of £1 each
37 
37 
37 D Ordinary shares of £1 each
37 
37 
100 
100 
8
Transactions with related parties
During the year the company entered into transactions of £2,080 (2022: £128) with related parties. The amounts owed to entities under the control, joint control or significant influence was £645,767 (2022: £647,847). No dividends were declared during the year (2022: £0).
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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