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Registration number: 08695476

Duxburys Property Consultants Limited

trading as Duxburys Commercial

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Duxburys Property Consultants Limited

trading as Duxburys Commercial

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

Duxburys Property Consultants Limited

trading as Duxburys Commercial

Company Information

Directors

Mr A M Bather

Mrs C A Taylor

Mr A S Taylor

Registered office

Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

Accountants

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Duxburys Property Consultants Limited

trading as Duxburys Commercial
for the Year Ended 31 August 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Duxburys Property Consultants Limited for the year ended 31 August 2023 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Duxburys Property Consultants Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Duxburys Property Consultants Limited and state those matters that we have agreed to state to the Board of Directors of Duxburys Property Consultants Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Duxburys Property Consultants Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Duxburys Property Consultants Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Duxburys Property Consultants Limited. You consider that Duxburys Property Consultants Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Duxburys Property Consultants Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

30 August 2023

 

Duxburys Property Consultants Limited

trading as Duxburys Commercial

(Registration number: 08695476)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

10,021

12,103

Investments

5

122

122

 

10,143

12,225

Current assets

 

Debtors

6

410,132

328,203

Cash at bank and in hand

 

65,010

54,726

 

475,142

382,929

Creditors: Amounts falling due within one year

7

(402,671)

(318,991)

Net current assets

 

72,471

63,938

Total assets less current liabilities

 

82,614

76,163

Creditors: Amounts falling due after more than one year

7

(24,987)

(37,356)

Provisions for liabilities

(2,505)

(2,421)

Net assets

 

55,122

36,386

Capital and reserves

 

Called up share capital

8

122

122

Retained earnings

55,000

36,264

Shareholders' funds

 

55,122

36,386

For the financial year ending 31 August 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Duxburys Property Consultants Limited

trading as Duxburys Commercial

(Registration number: 08695476)
Balance Sheet as at 31 August 2023

Approved and authorised by the Board on 30 August 2023 and signed on its behalf by:
 

.........................................
Mr A M Bather
Director

 

Duxburys Property Consultants Limited

trading as Duxburys Commercial

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF
England

These financial statements were authorised for issue by the Board on 30 August 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

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

 

Duxburys Property Consultants Limited

trading as Duxburys Commercial

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

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% straight line

Office equipment

33% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Duxburys Property Consultants Limited

trading as Duxburys Commercial

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

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 profit and loss account 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Duxburys Property Consultants Limited

trading as Duxburys Commercial

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2022 - 11).

 

Duxburys Property Consultants Limited

trading as Duxburys Commercial

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

25,930

25,930

Additions

2,509

2,509

At 31 August 2023

28,439

28,439

Depreciation

At 1 September 2022

13,827

13,827

Charge for the year

4,591

4,591

At 31 August 2023

18,418

18,418

Carrying amount

At 31 August 2023

10,021

10,021

At 31 August 2022

12,103

12,103

5

Investments

2023
£

2022
£

Investments in subsidiaries

122

122

Subsidiaries

£

Cost or valuation

At 1 September 2022

122

Provision

Carrying amount

At 31 August 2023

122

At 31 August 2022

122

 

Duxburys Property Consultants Limited

trading as Duxburys Commercial

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

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

84,693

102,477

Amounts owed by related parties

10

138,090

126,130

Prepayments

 

1,149

16,025

Other debtors

 

186,200

83,571

   

410,132

328,203

 

Duxburys Property Consultants Limited

trading as Duxburys Commercial

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

74,984

16,135

Trade creditors

 

16,372

28,966

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

3,031

57

Taxation and social security

 

226,382

194,218

Accruals and deferred income

 

18,200

12,700

Other creditors

 

63,702

66,915

 

402,671

318,991

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

24,987

37,356

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

122

122

122

122

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

24,987

37,356

Current loans and borrowings

 

Duxburys Property Consultants Limited

trading as Duxburys Commercial

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

2023
£

2022
£

Bank borrowings

12,883

12,769

Bank overdrafts

62,101

3,366

74,984

16,135

10

Related party transactions

Loans to related parties

2023

Key management
£

Total
£

At start of period

83,571

83,571

Advanced

186,200

186,200

Repaid

(83,571)

(83,571)

At end of period

186,200

186,200

2022

Key management
£

Total
£

At start of period

38,549

38,549

Advanced

83,571

83,571

Repaid

(38,549)

(38,549)

At end of period

83,571

83,571

Terms of loans to related parties

Loans to directors are repayable on demand and interest is charged at the official rate on any balance that exceeds £10,000 throughout the year.