Company registration number 07969736 (England and Wales)
DUNCARY 11 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
DUNCARY 11 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
DUNCARY 11 LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
as restated
Notes
£
£
£
£
Fixed assets
Investments
3
313,811
313,811
Current assets
-
-
Creditors: amounts falling due within one year
4
(100,182)
-
0
Net current liabilities
(100,182)
-
0
Net assets
213,629
313,811
Capital and reserves
Called up share capital
5
90,909
90,909
Profit and loss reserves
122,720
222,902
Total equity
213,629
313,811

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 8 March 2024 and are signed on its behalf by:
P Winton
Director
Company registration number 07969736 (England and Wales)
DUNCARY 11 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Duncary 11 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 80 Cheapside, London, EC2V 6EE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

DUNCARY 11 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings
313,811
313,811
4
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
100,182
-
0
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
-
90,909
-
90,909
A Ordinary shares of £1 each
72,727
-
72,727
-
B Ordinary shares of £1 each
18,182
-
18,182
-
90,909
90,909
90,909
90,909

During the year the company's 90,909 Ordinary shares were redesignated in to 72,727 A Ordinary shares and 18,182 B Ordinary shares.

 

The A Ordinary shares and B Ordinary shares both have full voting rights and rank pari passu for participation in the profits and assets of the company. Refer to Companies House for full details.

DUNCARY 11 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
6
Prior period adjustment
Changes to the balance sheet
As previously reported
Adjustment
As restated at 30 Nov 2022
£
£
£
Net assets
313,811
-
313,811
Capital and reserves
Total equity
313,811
-
313,811
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 30 November 2022
£
£
£
Income from shares in group undertakings
108,000
(108,000)
-
0
Profit for the financial period
108,000
(108,000)
-
Reconciliation of changes in equity
1 December
30 November
2021
2022
Notes
£
£
Adjustments to prior year
Overstatement of dividends receivable
1
-
108,000
Overstatement of dividends payable
1
-
(108,000)
Total adjustments
-
-
Equity as previously reported
313,811
313,811
Equity as adjusted
313,811
313,811
Reconciliation of changes in profit for the previous financial period
2022
Notes
£
Adjustments to prior year
Overstatement of dividends receivable
1
(108,000)
Profit as previously reported
108,000
Profit as adjusted
-
Notes to reconciliation
1 - Dividends in the prior period

Dividends receivable and dividends payable were equally overstated in the financial statements for the year ended 30 November 2022, and have therefore been corrected as a prior period adjustment.

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