Silverfin false false 29/02/2024 01/03/2023 29/02/2024 K M Ellery 15/02/2013 M J Ellery 15/02/2013 28 July 2024 The principal activity of the Company is investment company. 08405362 2024-02-29 08405362 bus:Director1 2024-02-29 08405362 bus:Director2 2024-02-29 08405362 2023-02-28 08405362 core:CurrentFinancialInstruments 2024-02-29 08405362 core:CurrentFinancialInstruments 2023-02-28 08405362 core:ShareCapital 2024-02-29 08405362 core:ShareCapital 2023-02-28 08405362 core:RetainedEarningsAccumulatedLosses 2024-02-29 08405362 core:RetainedEarningsAccumulatedLosses 2023-02-28 08405362 core:CostValuation 2023-02-28 08405362 core:DisposalsRepaymentsInvestments 2024-02-29 08405362 core:CostValuation 2024-02-29 08405362 bus:OrdinaryShareClass1 2024-02-29 08405362 2023-03-01 2024-02-29 08405362 bus:FilletedAccounts 2023-03-01 2024-02-29 08405362 bus:SmallEntities 2023-03-01 2024-02-29 08405362 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 08405362 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08405362 bus:Director1 2023-03-01 2024-02-29 08405362 bus:Director2 2023-03-01 2024-02-29 08405362 2022-03-01 2023-02-28 08405362 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 08405362 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08405362 (England and Wales)

DUCHY ENTERPRISES LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

DUCHY ENTERPRISES LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

DUCHY ENTERPRISES LIMITED

COMPANY INFORMATION

For the financial year ended 29 February 2024
DUCHY ENTERPRISES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 29 February 2024
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
DUCHY ENTERPRISES LIMITED

BALANCE SHEET

As at 29 February 2024
DUCHY ENTERPRISES LIMITED

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 1,035,000 1,040,000
1,035,000 1,040,000
Current assets
Debtors 4 90 90
Cash at bank and in hand 5 8,865 2,164
8,955 2,254
Creditors: amounts falling due within one year 6 ( 886,393) ( 912,064)
Net current liabilities (877,438) (909,810)
Total assets less current liabilities 157,562 130,190
Net assets 157,562 130,190
Capital and reserves
Called-up share capital 7 15 15
Profit and loss account 157,547 130,175
Total shareholders' funds 157,562 130,190

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Duchy Enterprises Limited (registered number: 08405362) were approved and authorised for issue by the Board of Directors on 28 July 2024. They were signed on its behalf by:

K M Ellery
Director
DUCHY ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
DUCHY ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

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.

General information and basis of accounting

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 £.

Turnover

Turnover comprises the fair value of the consideration received or receivable in the activities of open-ended investment companies. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Taxation

Current tax
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.

Fixed asset investments

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 instruments

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Fixed asset investments

Loans Total
£ £
Cost or valuation before impairment
At 01 March 2023 1,040,000 1,040,000
Disposals ( 5,000) ( 5,000)
At 29 February 2024 1,035,000 1,035,000
Carrying value at 29 February 2024 1,035,000 1,035,000
Carrying value at 28 February 2023 1,040,000 1,040,000

4. Debtors

2024 2023
£ £
Other debtors 90 90

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 8,848 2,147
Short-term deposits 17 17
8,865 2,164

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 422,920 355,242
Taxation and social security 8,007 594
Other creditors 455,466 556,228
886,393 912,064

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.15 each 15 15

8. Related party transactions

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.