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Company Registration No. 10331883 (England and Wales)
Duncan Financial Services Ltd Unaudited accounts for the year ended 30 November 2023
Duncan Financial Services Ltd Unaudited accounts Contents
Page
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Duncan Financial Services Ltd Company Information for the year ended 30 November 2023
Directors
Mr G Duncan Mrs J Duncan
Company Number
10331883 (England and Wales)
Registered Office
35 Larcombe Road Petersfield Hampshire GU32 3LS
Accountants
Babcock Tax & Accountancy Services Ltd The Florins, 8 Lulworth Close Hayling Island Hampshire PO11 0NY
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Duncan Financial Services Ltd Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
756 
- 
Current assets
Debtors
770 
- 
Cash at bank and in hand
65,693 
49,009 
66,463 
49,009 
Creditors: amounts falling due within one year
(6,749)
(4,484)
Net current assets
59,714 
44,525 
Net assets
60,470 
44,525 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
60,370 
44,425 
Shareholders' funds
60,470 
44,525 
For the year ending 30 November 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 13 February 2024 and were signed on its behalf by
Mr G Duncan Director Company Registration No. 10331883
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Duncan Financial Services Ltd Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Duncan Financial Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 10331883. The registered office is 35 Larcombe Road, Petersfield, Hampshire, GU32 3LS.
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 as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred taxation
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.
Taxation
Taxation for the year compromises 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Duncan Financial Services Ltd Notes to the Accounts for the year ended 30 November 2023
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 December 2022
- 
Additions
1,129 
At 30 November 2023
1,129 
Depreciation
Charge for the year
373 
At 30 November 2023
373 
Net book value
At 30 November 2023
756 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due after more than one year
Other debtors
770 
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
5,908 
3,628 
Other creditors
841 
840 
Loans from directors
- 
16 
6,749 
4,484 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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