Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr Colin Bury 18/12/2003 Mr Jonathan Parkinson 01/10/2017 Mrs Christine Smith 01/05/2004 14 May 2024 The principal activity of the company continued to be that of a real estate agency. 04998545 2023-12-31 04998545 bus:Director1 2023-12-31 04998545 bus:Director2 2023-12-31 04998545 bus:Director3 2023-12-31 04998545 2022-12-31 04998545 core:CurrentFinancialInstruments 2023-12-31 04998545 core:CurrentFinancialInstruments 2022-12-31 04998545 core:Non-currentFinancialInstruments 2023-12-31 04998545 core:Non-currentFinancialInstruments 2022-12-31 04998545 core:ShareCapital 2023-12-31 04998545 core:ShareCapital 2022-12-31 04998545 core:RevaluationReserve 2023-12-31 04998545 core:RevaluationReserve 2022-12-31 04998545 core:RetainedEarningsAccumulatedLosses 2023-12-31 04998545 core:RetainedEarningsAccumulatedLosses 2022-12-31 04998545 core:Goodwill 2022-12-31 04998545 core:Goodwill 2023-12-31 04998545 core:LandBuildings 2022-12-31 04998545 core:Vehicles 2022-12-31 04998545 core:OfficeEquipment 2022-12-31 04998545 core:LandBuildings 2023-12-31 04998545 core:Vehicles 2023-12-31 04998545 core:OfficeEquipment 2023-12-31 04998545 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-12-31 04998545 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-12-31 04998545 2023-01-01 2023-12-31 04998545 bus:FilletedAccounts 2023-01-01 2023-12-31 04998545 bus:SmallEntities 2023-01-01 2023-12-31 04998545 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04998545 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04998545 bus:Director1 2023-01-01 2023-12-31 04998545 bus:Director2 2023-01-01 2023-12-31 04998545 bus:Director3 2023-01-01 2023-12-31 04998545 core:Goodwill core:TopRangeValue 2023-01-01 2023-12-31 04998545 core:Vehicles 2023-01-01 2023-12-31 04998545 core:OfficeEquipment 2023-01-01 2023-12-31 04998545 2022-01-01 2022-12-31 04998545 core:Goodwill 1 2023-01-01 2023-12-31 04998545 1 2023-01-01 2023-12-31 04998545 core:LandBuildings 2023-01-01 2023-12-31 04998545 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 04998545 (England and Wales)

DUCKWORTHS ESTATE AGENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

DUCKWORTHS ESTATE AGENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

DUCKWORTHS ESTATE AGENTS LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DUCKWORTHS ESTATE AGENTS LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DIRECTORS Mr Colin Bury
Mr Jonathan Parkinson
Mrs Christine Smith
REGISTERED OFFICE 7 St James Street
Accrington
BB1 1NE
United Kingdom
COMPANY NUMBER 04998545 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
United Kingdom
DUCKWORTHS ESTATE AGENTS LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
DUCKWORTHS ESTATE AGENTS LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 212,441 214,490
212,441 214,490
Current assets
Debtors 5 197,171 234,969
Cash at bank and in hand 0 100
197,171 235,069
Creditors: amounts falling due within one year 6 ( 411,546) ( 343,365)
Net current liabilities (214,375) (108,296)
Total assets less current liabilities (1,934) 106,194
Creditors: amounts falling due after more than one year 7 ( 135,459) ( 141,963)
Provision for liabilities ( 9,420) ( 9,420)
Net liabilities ( 146,813) ( 45,189)
Capital and reserves
Called-up share capital 100 100
Revaluation reserve 3,729 3,729
Profit and loss account ( 150,642 ) ( 49,018 )
Total shareholders' deficit ( 146,813) ( 45,189)

For the financial year ending 31 December 2023 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 Duckworths Estate Agents Limited (registered number: 04998545) were approved and authorised for issue by the Board of Directors on 14 May 2024. They were signed on its behalf by:

Mr Jonathan Parkinson
Director
DUCKWORTHS ESTATE AGENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DUCKWORTHS ESTATE AGENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
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

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

During the period the company met its day to day working capital requirements by way of the financial support of bank facilities.

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this support.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Intangible assets

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Goodwill has now been fully written down to nil over the useful life of the asset.

Goodwill 5 years straight line
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings not depreciated
Vehicles 20 % reducing balance
Office equipment 15 % reducing balance

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 credited or charged to profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 14

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2023 61,785 61,785
At 31 December 2023 61,785 61,785
Accumulated amortisation
At 01 January 2023 61,785 61,785
0 0
At 31 December 2023 61,785 61,785
Net book value
At 31 December 2023 0 0
At 31 December 2022 0 0

4. Tangible assets

Land and buildings Vehicles Office equipment Total
£ £ £ £
Cost
At 01 January 2023 185,000 6,446 103,472 294,918
Additions 0 0 3,002 3,002
At 31 December 2023 185,000 6,446 106,474 297,920
Accumulated depreciation
At 01 January 2023 0 107 80,321 80,428
Charge for the financial year 0 1,268 3,783 5,051
At 31 December 2023 0 1,375 84,104 85,479
Net book value
At 31 December 2023 185,000 5,071 22,370 212,441
At 31 December 2022 185,000 6,339 23,151 214,490

5. Debtors

2023 2022
£ £
Trade debtors 24,319 15,453
Amounts owed by related parties 16,864 48,004
Other debtors 155,988 171,512
197,171 234,969

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 58,168 19,971
Trade creditors 54,010 58,697
Amounts owed to related parties 23,524 0
Taxation and social security 200,155 166,813
Other creditors 75,689 97,884
411,546 343,365

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 135,459 141,963

Bank borrowings totaling £155,180 (2022 - £117,031) are secured by a legal mortgage with Together Commercial Finance Limited against the property and assets of the company and a debenture with HSBC Bank PLC, including a fixed and floating charge.

8. Financial commitments

Commitments

2023 2022
£ £
Total future minimum lease payments under non-cancellable operating lease 15,524 31,641

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Mr Colin Bury 27,718 32,172
Mrs Christine Smith 12,748 41,436
Mr Jonathan Parkinson 38,986 60,739

At the balance sheet date, amounts owed by the directors totaled £79,452 (2022: £134,347). This balance includes interest and is payable on demand.

Other related party transactions

At the balance sheet date, amounts owed to other related parties totaled £6,660 (2022: £48,004 owed by other related parties). This balance is payable on demand.