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Registration number: 12495168

The Durdans Holdings Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

The Durdans Holdings Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

The Durdans Holdings Ltd

Company Information

Directors

S D Cooper

T A Cooper

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

The Durdans Holdings Ltd

Statement of Financial Position as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

2,249,206

2,249,206

Current assets

 

Cash at bank and in hand

 

1,380

1,821

Creditors: Amounts falling due within one year

5

(1,020,353)

(975,704)

Net current liabilities

 

(1,018,973)

(973,883)

Total assets less current liabilities

 

1,230,233

1,275,323

Creditors: Amounts falling due after more than one year

5

(1,211,701)

(1,264,570)

Net assets

 

18,532

10,753

Capital and reserves

 

Called up share capital

99

99

Retained earnings

18,433

10,654

Shareholders' funds

 

18,532

10,753

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 14 March 2024 and signed on its behalf by:
 

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

S D Cooper

Director

Company registration number: 12495168

 

The Durdans Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of an investment holding company.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Going concern

The company made a profit for the year and had net assets at 31 March 2023 amounting to £18,532.

The company has few fixed overheads and no significant working capital requirement.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Group accounts not prepared

In the opinion of the director, the company and its subsidiary undertaking comprise a small group. The company has therefore taken advantage of the exemption provided by Section 399 of the Companies Act 2006 not to prepare group accounts, and hence the accounts represent information about the company as an individual undertaking and not about the group..

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

The Durdans Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

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.

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 income statement 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.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 0).

4

Investments

2023
£

2022
£

Investments in subsidiaries

2,249,206

2,249,206

Subsidiaries

£

Cost or valuation

At 1 April 2022 and 31 March 2023

2,249,206

Carrying amount

At 31 March 2023

2,249,206

At 31 March 2022

2,249,206

 

The Durdans Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Loans and borrowings

52,867

50,894

Amounts owed to group undertakings

117,038

72,895

Taxation and social security

1,825

1,493

Other creditors

848,623

850,422

1,020,353

975,704

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Loans and borrowings

6

1,211,701

1,264,570

2023
£

2022
£

Due after more than five years

After more than five years by instalments

978,924

1,040,480

-

6

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank loan

52,867

50,894

2023
£

2022
£

Non-current loans and borrowings

Bank loan

1,211,701

1,264,570

The bank loan is secured by a fixed and floating charge over the assets and undertakings of the company.