IRIS Accounts Production v24.2.0.383 03253558 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh032535582022-12-31032535582023-12-31032535582023-01-012023-12-31032535582021-12-31032535582022-01-012022-12-31032535582022-12-3103253558ns15:EnglandWales2023-01-012023-12-3103253558ns14:PoundSterling2023-01-012023-12-3103253558ns10:Director12023-01-012023-12-3103253558ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3103253558ns10:SmallEntities2023-01-012023-12-3103253558ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3103253558ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3103253558ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103253558ns10:FullAccounts2023-01-012023-12-3103253558ns10:OrdinaryShareClass12023-01-012023-12-3103253558ns5:CurrentFinancialInstruments2023-12-3103253558ns5:CurrentFinancialInstruments2022-12-3103253558ns5:Non-currentFinancialInstruments2023-12-3103253558ns5:Non-currentFinancialInstruments2022-12-3103253558ns5:ShareCapital2023-12-3103253558ns5:ShareCapital2022-12-3103253558ns5:RetainedEarningsAccumulatedLosses2023-12-3103253558ns5:RetainedEarningsAccumulatedLosses2022-12-3103253558ns10:RegisteredOffice2023-01-012023-12-3103253558ns5:FurnitureFittings2023-01-012023-12-3103253558ns5:MotorVehicles2023-01-012023-12-3103253558ns5:FurnitureFittings2022-12-3103253558ns5:MotorVehicles2022-12-3103253558ns5:FurnitureFittings2023-12-3103253558ns5:MotorVehicles2023-12-3103253558ns5:FurnitureFittings2022-12-3103253558ns5:MotorVehicles2022-12-3103253558ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3103253558ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3103253558ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3103253558ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3103253558ns5:DeferredTaxation2022-12-3103253558ns5:DeferredTaxation2023-01-012023-12-3103253558ns5:DeferredTaxation2023-12-3103253558ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 03253558 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023

FOR

MR. DUVET LIMITED

MR. DUVET LIMITED (REGISTERED NUMBER: 03253558)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


MR. DUVET LIMITED (REGISTERED NUMBER: 03253558)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 47,159 21,661

CURRENT ASSETS
Stocks 6 150 150
Debtors 7 954 5,998
Cash at bank and in hand 71,945 68,345
73,049 74,493
CREDITORS
Amounts falling due within one year 8 30,624 45,530
NET CURRENT ASSETS 42,425 28,963
TOTAL ASSETS LESS CURRENT
LIABILITIES

89,584

50,624

CREDITORS
Amounts falling due after more than
one year

9

(17,238

)

-

PROVISIONS FOR LIABILITIES 10 (8,960 ) (4,116 )
NET ASSETS 63,386 46,508

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 63,286 46,408
SHAREHOLDERS' FUNDS 63,386 46,508

MR. DUVET LIMITED (REGISTERED NUMBER: 03253558)

BALANCE SHEET - continued
31 DECEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:





Mr P R Gunston - Director


MR. DUVET LIMITED (REGISTERED NUMBER: 03253558)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Mr. Duvet Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03253558

Registered office: 53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF

2. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

MR. DUVET LIMITED (REGISTERED NUMBER: 03253558)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


MR. DUVET LIMITED (REGISTERED NUMBER: 03253558)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

MR. DUVET LIMITED (REGISTERED NUMBER: 03253558)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023 6,996 24,000 30,996
Additions - 46,984 46,984
Disposals - (24,000 ) (24,000 )
At 31 December 2023 6,996 46,984 53,980
DEPRECIATION
At 1 January 2023 3,335 - 3,335
Charge for year 550 2,936 3,486
At 31 December 2023 3,885 2,936 6,821
NET BOOK VALUE
At 31 December 2023 3,111 44,048 47,159
At 31 December 2022 3,661 24,000 27,661

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 46,984
At 31 December 2023 46,984
DEPRECIATION
Charge for year 2,936
At 31 December 2023 2,936
NET BOOK VALUE
At 31 December 2023 44,048

6. STOCKS
2023 2022
£    £   
Stocks 150 150

MR. DUVET LIMITED (REGISTERED NUMBER: 03253558)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 5,178
Prepayments and accrued income 954 820
954 5,998

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 5,746 -
Trade creditors 17,863 36,651
Corporation tax 1,487 6,526
Directors' current accounts 3,694 749
Accruals and deferred income 1,834 1,604
30,624 45,530

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts 17,238 -

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 8,960 4,116

Deferred
tax
£   
Balance at 1 January 2023 4,116
Provided during year 4,844
Balance at 31 December 2023 8,960

MR. DUVET LIMITED (REGISTERED NUMBER: 03253558)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100