Company No:
Contents
DIRECTORS | K M Ellery |
M J Ellery |
REGISTERED OFFICE | 17 17 |
Esplanade Road | |
Newquay | |
TR7 1QB | |
United Kingdom |
COMPANY NUMBER | 08405362 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Lowin House | |
Tregolls Road | |
Truro | |
Cornwall TR1 2NA |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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1,035,000 | 1,040,000 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand | 5 |
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8,955 | 2,254 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (877,438) | (909,810) | ||
Total assets less current liabilities | 157,562 | 130,190 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Duchy Enterprises Limited (registered number:
K M Ellery
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Duchy Enterprises Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 17 17, Esplanade Road, Newquay, TR7 1QB, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Loans | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 March 2023 |
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Disposals | (
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At 29 February 2024 |
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Carrying value at 29 February 2024 |
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Carrying value at 28 February 2023 |
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2024 | 2023 | ||
£ | £ | ||
Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Cash at bank and in hand |
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Short-term deposits |
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8,865 | 2,164 |
2024 | 2023 | ||
£ | £ | ||
Amounts owed to Group undertakings |
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Taxation and social security |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Other related party transactions
2024 | 2023 | ||
£ | £ | ||
Anderson Lloyd International Limited (BVI) | 422,919 | 355,242 |
At the balance sheet date company was owed £4,022 to Anderson Lloyd International Limited (BVI) under common control.