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REGISTERED NUMBER: 11340644 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

DUALLOK LIMITED

DUALLOK LIMITED (REGISTERED NUMBER: 11340644)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DUALLOK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mr S J P Bradley
Mr C A Cleary
Ms R H Reardon
Mr D B Whitehurst





REGISTERED OFFICE: Unit B, Flat Iron Yard
14 Ayres Street
London
SE1 1ES





REGISTERED NUMBER: 11340644 (England and Wales)





AUDITORS: Ashfords Partnership LLP
114-116 Goodmayes Road
Ilford
Esex
IG3 9UZ

DUALLOK LIMITED (REGISTERED NUMBER: 11340644)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 277,188 260,174
Tangible assets 5 32,155 42,433
309,343 302,607

CURRENT ASSETS
Stocks 58,864 55,732
Debtors 6 47,170 64,359
Cash at bank 3,319 39,257
109,353 159,348
CREDITORS
Amounts falling due within one year 7 27,917 20,189
NET CURRENT ASSETS 81,436 139,159
TOTAL ASSETS LESS CURRENT
LIABILITIES

390,779

441,766

CREDITORS
Amounts falling due after more than one year 8 1,579,667 1,498,738
NET LIABILITIES (1,188,888 ) (1,056,972 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 9 (1,189,888 ) (1,057,972 )
SHAREHOLDERS' FUNDS (1,188,888 ) (1,056,972 )

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 8 February 2024 and were signed on its behalf by:





Ms R H Reardon - Director


DUALLOK LIMITED (REGISTERED NUMBER: 11340644)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Duallok Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents & Trademarks are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


DUALLOK LIMITED (REGISTERED NUMBER: 11340644)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued
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.

Going concern
The accounts have been prepared on going concern basis which assumes that the company will continue to receive adequate financial assistance from the Directors, Bankers, other creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INTANGIBLE FIXED ASSETS
Patents &
Trademarks
£   
COST
At 1 June 2022 296,806
Additions 33,531
At 31 May 2023 330,337
AMORTISATION
At 1 June 2022 36,632
Amortisation for year 16,517
At 31 May 2023 53,149
NET BOOK VALUE
At 31 May 2023 277,188
At 31 May 2022 260,174

DUALLOK LIMITED (REGISTERED NUMBER: 11340644)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 6,505 127,490 133,995
DEPRECIATION
At 1 June 2022 3,206 88,356 91,562
Charge for year 495 9,783 10,278
At 31 May 2023 3,701 98,139 101,840
NET BOOK VALUE
At 31 May 2023 2,804 29,351 32,155
At 31 May 2022 3,299 39,134 42,433

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 6,010 20,461
Other debtors 41,160 43,898
47,170 64,359

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 25,178 15,579
Other creditors 2,739 4,610
27,917 20,189

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Other creditors 1,579,667 1,498,738

DUALLOK LIMITED (REGISTERED NUMBER: 11340644)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


9. RESERVES
Retained
earnings
£   

At 1 June 2022 (1,057,972 )
Deficit for the year (131,916 )
At 31 May 2023 (1,189,888 )

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Mr Ashok Mukundlal Shah (Senior Statutory Auditor)
for and on behalf of Ashfords Partnership LLP

12. RELATED PARTY DISCLOSURES

At 31 May 2023, the company owed £1,579,667 (2022:£1,498,738) to Burgopak Limited. The amount due has been converted to a formal loan since the demerger of Duallok Limited from Burgopak Holdings Limited on 14/01/2020.

13. ULTIMATE CONTROLLING PARTY

As at 31st May 2023, the company is controlled by Duallok Holdings Limited, which is a parent company.

The ultimate controlling party are the shareholders of Duallok Holdings Limited.