Duon Global Services LLC Limited 10700222 false 2022-04-01 2023-02-28 2023-02-28 The principal activity of the company is that of marketing and PR services. Digita Accounts Production Advanced 6.30.9574.0 true 10700222 2022-04-01 2023-02-28 10700222 2023-02-28 10700222 bus:OrdinaryShareClass1 2023-02-28 10700222 bus:OrdinaryShareClass2 2023-02-28 10700222 core:CurrentFinancialInstruments 2023-02-28 10700222 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 10700222 core:Non-currentFinancialInstruments 2023-02-28 10700222 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 10700222 core:FurnitureFittingsToolsEquipment 2023-02-28 10700222 core:OtherPropertyPlantEquipment 2023-02-28 10700222 bus:SmallEntities 2022-04-01 2023-02-28 10700222 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-02-28 10700222 bus:FullAccounts 2022-04-01 2023-02-28 10700222 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-02-28 10700222 bus:RegisteredOffice 2022-04-01 2023-02-28 10700222 bus:Director1 2022-04-01 2023-02-28 10700222 bus:OrdinaryShareClass1 2022-04-01 2023-02-28 10700222 bus:OrdinaryShareClass2 2022-04-01 2023-02-28 10700222 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-02-28 10700222 bus:Agent1 2022-04-01 2023-02-28 10700222 core:ComputerEquipment 2022-04-01 2023-02-28 10700222 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-02-28 10700222 core:OfficeEquipment 2022-04-01 2023-02-28 10700222 core:OtherPropertyPlantEquipment 2022-04-01 2023-02-28 10700222 core:PlantMachinery 2022-04-01 2023-02-28 10700222 countries:EnglandWales 2022-04-01 2023-02-28 10700222 2022-03-31 10700222 core:FurnitureFittingsToolsEquipment 2022-03-31 10700222 core:OtherPropertyPlantEquipment 2022-03-31 10700222 2021-04-01 2022-03-31 10700222 2022-03-31 10700222 bus:OrdinaryShareClass1 2022-03-31 10700222 bus:OrdinaryShareClass2 2022-03-31 10700222 core:CurrentFinancialInstruments 2022-03-31 10700222 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 10700222 core:Non-currentFinancialInstruments 2022-03-31 10700222 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 10700222 core:FurnitureFittingsToolsEquipment 2022-03-31 10700222 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10700222

Duon Global Services LLC Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 April 2022 to 28 February 2023

 

Duon Global Services LLC Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Financial Statements

5 to 9

 

Duon Global Services LLC Limited

Company Information

Director

Mrs Kate Louise Williams

Registered office

Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

Accountants

Pattinsons Business Services Ltd
Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

 

Duon Global Services LLC Limited

Director's Report for the Period from 1 April 2022 to 28 February 2023

The director presents her report and the financial statements for the period from 1 April 2022 to 28 February 2023.

Director of the company

The director who held office during the period was as follows:

Mrs Kate Louise Williams

Principal activity

The principal activity of the company is that of marketing and PR services.

Going concern

The company ceased to trade on 28 February 2023 and the financial statements have been prepared on a basis other than that of the going concern basis as the director intends to wind up the company. This basis includes, where applicable, writing the company’s assets down to net realisable value. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

Small companies provision statement

This report has 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.

Approved by the director on 27 November 2023 and signed on its behalf by:

.........................................
Mrs Kate Louise Williams
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Duon Global Services LLC Limited
for the Period Ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Duon Global Services LLC Limited for the period ended 28 February 2023 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Duon Global Services LLC Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Duon Global Services LLC Limited and state those matters that we have agreed to state to the Board of Directors of Duon Global Services LLC Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Duon Global Services LLC Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Duon Global Services LLC Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Duon Global Services LLC Limited. You consider that Duon Global Services LLC Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Duon Global Services LLC Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Pattinsons Business Services Ltd
Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

27 November 2023

 

Duon Global Services LLC Limited

(Registration number: 10700222)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

1,313

28,912

Current assets

 

Debtors

6

2,540

8,992

Cash at bank and in hand

 

-

22,150

 

2,540

31,142

Creditors: Amounts falling due within one year

7

(19,185)

(47,078)

Net current liabilities

 

(16,645)

(15,936)

Total assets less current liabilities

 

(15,332)

12,976

Creditors: Amounts falling due after more than one year

7

(41,257)

(41,776)

Net liabilities

 

(56,589)

(28,800)

Capital and reserves

 

Called up share capital

9

60

60

Retained earnings

(56,649)

(28,860)

Shareholders' deficit

 

(56,589)

(28,800)

For the financial period ending 28 February 2023 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 period in question in accordance with section 476; and

The director acknowledges her 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.

Approved and authorised by the director on 27 November 2023
 

.........................................
Mrs Kate Louise Williams
Director

 

Duon Global Services LLC Limited

Notes to the Financial Statements for the Period from 1 April 2022 to 28 February 2023

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:
Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ
England

These financial statements were authorised for issue by the director on 27 November 2023.

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.

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.

Government grants

The accrual model is adopted for the recognition of grant income received.

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.

 

Duon Global Services LLC Limited

Notes to the Financial Statements for the Period from 1 April 2022 to 28 February 2023

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

Computer equipment

3 years straight line

Fixtures and fittings

25% reducing balance

Plant and machinery

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Duon Global Services LLC Limited

Notes to the Financial Statements for the Period from 1 April 2022 to 28 February 2023

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 during the period, was 3 (2022 - 2).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

519

3,817

5

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2022

4,058

30,330

34,388

Disposals

-

(30,330)

(30,330)

At 28 February 2023

4,058

-

4,058

Depreciation

At 1 April 2022

2,226

3,250

5,476

Charge for the period

519

-

519

Eliminated on disposal

-

(3,250)

(3,250)

At 28 February 2023

2,745

-

2,745

Carrying amount

At 28 February 2023

1,313

-

1,313

At 31 March 2022

1,832

27,080

28,912

 

Duon Global Services LLC Limited

Notes to the Financial Statements for the Period from 1 April 2022 to 28 February 2023

6

Debtors

2023
£

2022
£

Trade debtors

2,000

-

Prepayments

-

1,841

Other debtors

540

7,151

2,540

8,992

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

5,581

5,556

Trade creditors

 

1,980

486

Taxation and social security

 

5,355

2,909

Other creditors

 

6,269

38,127

 

19,185

47,078

Due after one year

 

Loans and borrowings

8

41,257

41,776

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

41,257

41,776

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,556

5,556

Bank overdrafts

25

-

5,581

5,556

 

Duon Global Services LLC Limited

Notes to the Financial Statements for the Period from 1 April 2022 to 28 February 2023

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

Ordinary A of £1 each

59

59

59

59

 

60

60

60

60

10

Related party transactions

Loans to related parties


Storethelot Limited
During the year the company advanced funds totalling £Nil (2022: £540) to and received £Nil (2022: £Nil) from Storethelot Limited, a company under common control. At the end of the year £540 (2022: £540) was oustanding in relation to this balance.

 

11

Government grants

During the period the company received government grants in support of the pandemic Covid-19.
The amount of grants recognised in the financial statements was £Nil (2022 - £13,672).