IRIS Accounts Production v24.2.0.383 00587805 Board of Directors 1.1.23 31.12.23 31.12.23 10/9/2024 false true false false true false Auditors Opinion Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh005878052022-12-31005878052023-12-31005878052023-01-012023-12-31005878052021-12-31005878052022-01-012022-12-31005878052022-12-3100587805ns15:EnglandWales2023-01-012023-12-3100587805ns14:PoundSterling2023-01-012023-12-3100587805ns10:Director12023-01-012023-12-3100587805ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3100587805ns10:SmallEntities2023-01-012023-12-3100587805ns10:Audited2023-01-012023-12-3100587805ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3100587805ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3100587805ns10:FullAccounts2023-01-012023-12-3100587805ns10:Director22023-01-012023-12-3100587805ns10:Director32023-01-012023-12-3100587805ns10:CompanySecretary12023-01-012023-12-3100587805ns10:RegisteredOffice2023-01-012023-12-3100587805ns5:CurrentFinancialInstruments2023-12-3100587805ns5:CurrentFinancialInstruments2022-12-3100587805ns5:ShareCapital2023-12-3100587805ns5:ShareCapital2022-12-3100587805ns5:RetainedEarningsAccumulatedLosses2023-12-3100587805ns5:RetainedEarningsAccumulatedLosses2022-12-3100587805ns5:LongLeaseholdAssetsns5:LandBuildings2023-01-012023-12-3100587805ns5:PlantMachinery2023-01-012023-12-3100587805ns5:FurnitureFittings2023-01-012023-12-3100587805ns5:LongLeaseholdAssetsns5:LandBuildings2022-12-3100587805ns5:PlantMachinery2022-12-3100587805ns5:FurnitureFittings2022-12-3100587805ns5:LongLeaseholdAssetsns5:LandBuildings2023-12-3100587805ns5:PlantMachinery2023-12-3100587805ns5:FurnitureFittings2023-12-3100587805ns5:LongLeaseholdAssetsns5:LandBuildings2022-12-3100587805ns5:PlantMachinery2022-12-3100587805ns5:FurnitureFittings2022-12-3100587805ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3100587805ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3100587805ns5:Non-currentFinancialInstruments2023-12-3100587805ns5:Non-currentFinancialInstruments2022-12-3100587805ns5:Secured2023-12-3100587805ns5:Secured2022-12-31
REGISTERED NUMBER: 00587805 (England and Wales)












AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DUPLUS ARCHITECTURAL SYSTEMS LIMITED

DUPLUS ARCHITECTURAL SYSTEMS LIMITED (REGISTERED NUMBER: 00587805)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DUPLUS ARCHITECTURAL SYSTEMS LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mr R W Freer
Mr P D Gregory
Mr J D Freer





SECRETARY: Mr R W Freer





REGISTERED OFFICE: 370 Melton Road
Leicester
LE4 7SL





REGISTERED NUMBER: 00587805 (England and Wales)





AUDITORS: Magma Audit LLP (part of the Dains Group)
Chartered Accountants
Statutory Auditor
Unit 2, Charnwood Edge Business Park
Syston Road
Leicestershire
LE7 4UZ

DUPLUS ARCHITECTURAL SYSTEMS LIMITED (REGISTERED NUMBER: 00587805)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 94,697 115,178

CURRENT ASSETS
Stocks 480,987 359,833
Debtors 5 3,456,359 3,356,340
Cash in hand - (362 )
3,937,346 3,715,811
CREDITORS
Amounts falling due within one year 6 (2,372,754 ) (2,154,025 )
NET CURRENT ASSETS 1,564,592 1,561,786
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,659,289

1,676,964

PROVISIONS FOR LIABILITIES (14,000 ) (23,851 )
NET ASSETS 1,645,289 1,653,113

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 1,643,289 1,651,113
SHAREHOLDERS' FUNDS 1,645,289 1,653,113

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





Mr R W Freer - Director


DUPLUS ARCHITECTURAL SYSTEMS LIMITED (REGISTERED NUMBER: 00587805)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023


1. STATUTORY INFORMATION

Duplus Architectural Systems Limited is a limited company, limited by shares, registered in England and Wales. Its registered office address is 370 Melton Road, Leicester, LE4 7SL and the registered number is 00587805.

Duplus Architectural Systems Limited is a wholly owned subsidiary of William Freer Limited and the results of Duplus Architectural Systems Limited will be included in the consolidated financial statements of William Freer Limited which will be available from its registered office, 360 Melton Road, Leicester, LE4 7SL.

2. ACCOUNTING POLICIES

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

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents amounts receivable for goods supplied and services rendered, net of VAT and trade discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold property - 20% straight line
Plant & equipment - 20% straight line and 10% straight line
Fixtures and fittings - 20% straight line and 10% straight line

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

DUPLUS ARCHITECTURAL SYSTEMS LIMITED (REGISTERED NUMBER: 00587805)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

DUPLUS ARCHITECTURAL SYSTEMS LIMITED (REGISTERED NUMBER: 00587805)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2022 - 52 ) .

4. TANGIBLE FIXED ASSETS
Long Fixtures
leasehold Plant & and
property equipment fittings Totals
£    £    £    £   
COST
At 1 January 2023 152,622 720,105 151,306 1,024,033
Additions - 6,663 - 6,663
Disposals - (85,576 ) - (85,576 )
At 31 December 2023 152,622 641,192 151,306 945,120
DEPRECIATION
At 1 January 2023 144,302 613,997 150,556 908,855
Charge for year 4,160 22,524 577 27,261
Eliminated on disposal - (85,693 ) - (85,693 )
At 31 December 2023 148,462 550,828 151,133 850,423
NET BOOK VALUE
At 31 December 2023 4,160 90,364 173 94,697
At 31 December 2022 8,320 106,108 750 115,178

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 108,053 63,747
Amounts recoverable on contract 3,081,258 3,015,203
VAT 55,392 56,232
Prepayments 38,159 47,661
3,282,862 3,182,843

Amounts falling due after more than one year:
Other debtors 173,497 173,497

Aggregate amounts 3,456,359 3,356,340

At the year end the Company had deposited £173,497 (2022: £173,497) with Evolution Insurance Company Limited as a guarantee against the Company failing to fulfill its obligations under a contract in place. The balance is not available to the Company until the contract is completed.

DUPLUS ARCHITECTURAL SYSTEMS LIMITED (REGISTERED NUMBER: 00587805)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 404,835 256,288
Trade creditors 936,897 931,183
Amounts owed to group undertakings 765,304 744,754
Corporation tax 177 -
Social security and other taxes 64,620 54,673
Other creditors 12,432 10,554
Accruals and deferred income 188,489 156,573
2,372,754 2,154,025

7. LEASING AGREEMENTS
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023 2022
£ £
Non-cancellable operating leases 664,992 855,000

Duplus Architectural Systems Limited has outstanding operating lease commitments to the value of £332,496 (2022 - £427,500) on behalf of it's parent company William Freer Limited.

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 404,835 256,288

The company has an overdraft facility with Barclays Bank PLC. The overdraft is repayable on demand and is secured with fixed and floating charges over the company's assets.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Luke Turner FCA FCCA (Senior Statutory Auditor)
for and on behalf of Magma Audit LLP (part of the Dains Group)

10. ULTIMATE CONTROLLING PARTY

The parent company of Duplus Architectural Systems Limited is William Freer Limited and its registered office is 360 Melton Road, Leicester, LE4 7SL.