Company registration number:
SC701416
Duncan Food Services Ltd
Trading as
Crown Hotel
Unaudited filleted abridged financial statements
30 June 2023
Duncan Food Services Ltd
Contents
Directors and other information
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Duncan Food Services Ltd
Directors and other information
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Directors |
Mr Allan Ewart Duncan |
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Mrs Margaret Carruthers Duncan |
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Secretary |
Allan Duncan |
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Company number |
SC701416 |
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Registered office |
10 King Street |
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Inverbervie |
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Montrose |
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DD10 0RG |
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Business address |
10 King Street |
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Inverbervie |
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Montrose |
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DD10 0RG |
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Accountant |
MOR Accounting Services |
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11 Glenfield Avenue |
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Cowdenbeath |
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Fife |
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KY4 9EN |
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Duncan Food Services Ltd
Abridged statement of financial position
30 June 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
305,864 |
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311,105 |
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_______ |
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_______ |
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305,864 |
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311,105 |
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Current assets |
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Stocks |
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6,900 |
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4,700 |
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Debtors |
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35,537 |
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(
454) |
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Cash at bank and in hand |
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20,901 |
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19,471 |
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_______ |
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_______ |
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63,338 |
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23,717 |
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Creditors: amounts falling due |
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within one year |
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(
144,898) |
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(
99,726) |
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_______ |
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_______ |
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Net current liabilities |
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(
81,560) |
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(
76,009) |
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_______ |
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_______ |
Total assets less current liabilities |
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224,304 |
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235,096 |
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Creditors: amounts falling due |
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after more than one year |
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(
199,538) |
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(
216,500) |
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_______ |
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_______ |
Net assets |
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24,766 |
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18,596 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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100 |
Profit and loss account |
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24,666 |
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18,496 |
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_______ |
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_______ |
Shareholders funds |
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24,766 |
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18,596 |
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_______ |
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_______ |
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For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the
board of directors
and authorised for issue on
30 March 2024
, and are signed on behalf of the board by:
Mr Allan Ewart Duncan
Director
Company registration number:
SC701416
Duncan Food Services Ltd
Statement of changes in equity
Year ended 30 June 2023
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Called up share capital |
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Profit and loss account |
Total |
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£ |
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£ |
£ |
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At 1 July 2021 |
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- |
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- |
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Profit for the year |
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18,496 |
18,496 |
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_______ |
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_______ |
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Total comprehensive income for the year |
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18,496 |
18,496 |
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Issue of shares |
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100 |
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100 |
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_______ |
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_______ |
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Total investments by and distributions to owners |
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100 |
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- |
100 |
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_______ |
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_______ |
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At 30 June 2022 and 1 July 2022 |
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100 |
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18,496 |
18,596 |
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Profit for the year |
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10,170 |
10,170 |
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_______ |
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_______ |
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Total comprehensive income for the year |
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10,170 |
10,170 |
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Dividends paid and payable |
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(
4,000) |
(
4,000) |
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_______ |
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_______ |
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Total investments by and distributions to owners |
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- |
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(
4,000) |
(
4,000) |
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_______ |
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At 30 June 2023 |
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100 |
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24,666 |
24,766 |
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_______ |
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_______ |
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Duncan Food Services Ltd
Notes to the financial statements
Year ended 30 June 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Crown Hotel, 10 King Street, Inverbervie, Montrose, DD10 0RG.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Cost includes all costs of purchase.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Staff costs
The average number of persons employed by the company during the year amounted to
10
(2022:
10
).
The aggregate payroll costs incurred during the year were:
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2023 |
2022 |
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£ |
£ |
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Wages and salaries |
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55,492 |
31,022 |
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Social security costs |
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220 |
- |
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Other pension costs |
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184 |
- |
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_______ |
_______ |
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55,896 |
31,022 |
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_______ |
_______ |
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5.
Tangible assets
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£ |
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Cost |
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At 1 July 2022 |
311,105 |
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Additions |
7,524 |
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_______ |
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At 30 June 2023 |
318,629 |
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_______ |
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Depreciation |
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At 1 July 2022 |
- |
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Charge for the year |
12,765 |
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_______ |
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At 30 June 2023 |
12,765 |
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_______ |
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Carrying amount |
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At 30 June 2023 |
305,864 |
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_______ |
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At 30 June 2022 |
311,105 |
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_______ |
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6.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company: |
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2023 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Mr Allan Ewart Duncan |
(
88,072) |
4,555 |
(
83,517) |
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_______ |
_______ |
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2022 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Mr Allan Ewart Duncan |
- |
(
88,072) |
(
88,072) |
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_______ |
_______ |
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