Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29true2023-03-01falseNo description of principal activity1515trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06535930 2023-03-01 2024-02-29 06535930 2022-03-01 2023-02-28 06535930 2024-02-29 06535930 2023-02-28 06535930 c:Director1 2023-03-01 2024-02-29 06535930 d:OfficeEquipment 2023-03-01 2024-02-29 06535930 d:OfficeEquipment 2024-02-29 06535930 d:OfficeEquipment 2023-02-28 06535930 d:Goodwill 2023-03-01 2024-02-29 06535930 d:Goodwill 2024-02-29 06535930 d:Goodwill 2023-02-28 06535930 d:CurrentFinancialInstruments 2024-02-29 06535930 d:CurrentFinancialInstruments 2023-02-28 06535930 d:Non-currentFinancialInstruments 2024-02-29 06535930 d:Non-currentFinancialInstruments 2023-02-28 06535930 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 06535930 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 06535930 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 06535930 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 06535930 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 06535930 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 06535930 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 06535930 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 06535930 d:ShareCapital 2024-02-29 06535930 d:ShareCapital 2023-02-28 06535930 d:RetainedEarningsAccumulatedLosses 2024-02-29 06535930 d:RetainedEarningsAccumulatedLosses 2023-02-28 06535930 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-02-29 06535930 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-02-28 06535930 c:FRS102 2023-03-01 2024-02-29 06535930 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 06535930 c:FullAccounts 2023-03-01 2024-02-29 06535930 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06535930 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 06535930









DUCE TAXATION SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
DUCE TAXATION SERVICES LIMITED
REGISTERED NUMBER: 06535930

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
104,796
100,980

Tangible assets
 5 
49,268
49,268

  
154,064
150,248

Current assets
  

Debtors: amounts falling due within one year
 6 
520,825
353,551

Cash at bank and in hand
 7 
12,673
18,285

  
533,498
371,836

Creditors: amounts falling due within one year
 8 
(323,354)
(396,911)

Net current assets/(liabilities)
  
 
 
210,144
 
 
(25,075)

Total assets less current liabilities
  
364,208
125,173

Creditors: amounts falling due after more than one year
 9 
(30,554)
(35,778)

  

Net assets
  
333,654
89,395


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
333,652
89,393

  
333,654
89,395


Page 1

 
DUCE TAXATION SERVICES LIMITED
REGISTERED NUMBER: 06535930
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 November 2024.




................................................
Mr M.E. Skuce
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
DUCE TAXATION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Duce Taxation Services Limited is a private company limited by shares, registered in the United Kingdom number 06535930. Its registered office is Manor House, 35 St Thomas's Road, Chorley, Lancashire, PR7 1HP. During the year, the principal activity of the company was that of the provison of accountancy and taxation services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
DUCE TAXATION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
Reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
DUCE TAXATION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2023 - 15).

Page 5

 
DUCE TAXATION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Intangible assets






Goodwill

£



Cost


At 1 March 2023
138,335


Additions
3,816



At 29 February 2024

142,151



Amortisation


At 1 March 2023
37,355



At 29 February 2024

37,355



Net book value



At 29 February 2024
104,796



At 28 February 2023
100,980



Page 6

 
DUCE TAXATION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Office equipment

£



Cost or valuation


At 1 March 2023
103,604



At 29 February 2024

103,604



Depreciation


At 1 March 2023
54,336



At 29 February 2024

54,336



Net book value



At 29 February 2024
49,268



At 28 February 2023
49,268


6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
375,304
301,840

Other debtors
145,521
51,711

520,825
353,551



7.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
12,675
18,282

12,675
18,282


Page 7

 
DUCE TAXATION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
5,170
5,170

Trade creditors
26,770
13,778

Corporation tax
10,448
12,269

Other taxation and social security
112,680
210,603

Other creditors
138,769
112,068

Accruals and deferred income
29,517
43,023

323,354
396,911


The following liabilities were secured:

29 February
28 February
2024
2023
£
£



Factoring creditor
137,587
110,990

137,587
110,990

Details of security provided:

Included in other creditors is £137,587 (2023: £110,990) which is secured on the book debts of the company.


9.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
30,554
35,778

30,554
35,778


Page 8

 
DUCE TAXATION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
5,170
5,170


5,170
5,170

Amounts falling due 1-2 years

Bank loans
5,170
5,170


5,170
5,170

Amounts falling due 2-5 years

Bank loans
25,384
30,608


25,384
30,608


35,724
40,948



11.


Financial instruments

29 February
28 February
2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
12,675
18,282



 
Page 9