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REGISTERED NUMBER: 03072159 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Duncan Property Investments Limited

Duncan Property Investments Limited (Registered number: 03072159)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Duncan Property Investments Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: A J D Ferguson





SECRETARY: Mrs E M Ferguson





REGISTERED OFFICE: Old Printers Yard
156 South Street
Dorking
Surrey
RH4 2HF





BUSINESS ADDRESS: Mundys Hill
Shere Road
Ewhurst
Surrey
GU6 7PQ





REGISTERED NUMBER: 03072159 (England and Wales)





ACCOUNTANTS: Bullimores LLP
Chartered Accountants
Old Printers Yard
156 South Street
Dorking
Surrey
RH4 2HF

Duncan Property Investments Limited (Registered number: 03072159)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 783,257 811,485

CURRENT ASSETS
Debtors 5 1,187 31,620
Cash at bank 4,602 12,395
5,789 44,015
CREDITORS
Amounts falling due within one year 6 52,251 33,099
NET CURRENT (LIABILITIES)/ASSETS (46,462 ) 10,916
TOTAL ASSETS LESS CURRENT
LIABILITIES

736,795

822,401

CAPITAL AND RESERVES
Called up share capital 22,500 22,500
Share premium 505,628 505,628
Retained earnings 208,667 294,273
SHAREHOLDERS' FUNDS 736,795 822,401

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Duncan Property Investments Limited (Registered number: 03072159)

Balance Sheet - continued
31 May 2024


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 director and authorised for issue on 18 September 2024 and were signed by:





A J D Ferguson - Director


Duncan Property Investments Limited (Registered number: 03072159)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Duncan Property Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Duncan Property Investments Limited (Registered number: 03072159)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to Plant and and
property property machinery fittings Totals
£    £    £    £    £   
COST
At 1 June 2023
and 31 May 2024 875,645 525,780 175,854 1,981 1,579,260
DEPRECIATION
At 1 June 2023 473,764 116,575 175,854 1,582 767,775
Charge for year 17,400 10,628 - 200 28,228
At 31 May 2024 491,164 127,203 175,854 1,782 796,003
NET BOOK VALUE
At 31 May 2024 384,481 398,577 - 199 783,257
At 31 May 2023 401,881 409,205 - 399 811,485

The company currently owns two freehold properties: Duncan House, an office and shop in Ripley, Surrey and Chesham House, a specialised air conditioned storage and processing unit in Chesham, Bucks.

The shop comprising a part of Duncan House is let on a twelve month full repairing lease,subject to both landlord and the tenant having the right to terminate on giving three months' notice of termination. The tenant of the office gave notice of termination of the lease effective 25th December 2023.

The premises in Chesham after being substantially refurbished were let on a full repairing fifteen year lease from 25th May 2012, with five yearly upward only rent reviews and subject to termination by the tenant after ten years. The tenant had exercised their right to earlier termination which was due to expire on 24th May 2022, however the lease was then extended to 29th February 2024. It was terminated on this date.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Directors' current accounts - 29,500
Deferred tax asset
Accelerated capital allowances 1,187 1,409
Prepayments - 711
1,187 31,620

Duncan Property Investments Limited (Registered number: 03072159)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Tax 2,171 15,169
Social security and other taxes 6,940 2,286
VAT 1,938 9,624
Other creditors 22,500 -
Accruals and deferred income 18,702 6,020
52,251 33,099

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
A J D Ferguson
Balance outstanding at start of year 29,500 -
Amounts advanced 3,451 65,500
Amounts repaid (32,951 ) (36,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 29,500

8. POST BALANCE SHEET EVENTS

One of the company's two properties, Duncan House, was sold after the end of the year, on 19th July 2024, for the sum of £540,000.

9. ULTIMATE CONTROLLING PARTY

Mr A J D Ferguson is the company's ultimate controlling party by virtue of his majority interest in the company's issued shares.

10. CONSIDERATION OF THE BASIS OF THE PREPARATION OF THE FINANCIAL STATEMENTS

The directors have considered the basis of the preparation in the Directors Report.