Duralife Holdings Limited 10518420 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of a holding company. Digita Accounts Production Advanced 6.30.9574.0 true false 10518420 2023-09-01 2024-08-31 10518420 2024-08-31 10518420 core:RetainedEarningsAccumulatedLosses 2024-08-31 10518420 core:RevaluationReserve 2024-08-31 10518420 core:ShareCapital 2024-08-31 10518420 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 10518420 core:CostValuation 2024-08-31 10518420 bus:SmallEntities 2023-09-01 2024-08-31 10518420 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 10518420 bus:FullAccounts 2023-09-01 2024-08-31 10518420 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 10518420 bus:RegisteredOffice 2023-09-01 2024-08-31 10518420 bus:Director1 2023-09-01 2024-08-31 10518420 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10518420 countries:EnglandWales 2023-09-01 2024-08-31 10518420 2023-08-31 10518420 2022-09-01 2023-08-31 10518420 2023-08-31 10518420 core:RetainedEarningsAccumulatedLosses 2023-08-31 10518420 core:RevaluationReserve 2023-08-31 10518420 core:ShareCapital 2023-08-31 10518420 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 10518420 core:CostValuation 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 10518420

Duralife Holdings Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Duralife Holdings Limited
(Registration number: 10518420)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Duralife Holdings Limited
(Registration number: 10518420)

Company Information

Director

L C Wilkins

Registered office

Unit B5
Reme Drive
Heathpark Industrial Estate
Honiton
Devon
EX14 1SE

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Duralife Holdings Limited
(Registration number: 10518420)

Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

495,000

495,000

Investments

144,428

144,428

 

639,428

639,428

Current assets

 

Cash at bank and in hand

 

34,537

21,265

Creditors: Amounts falling due within one year

6

(273,132)

(389,324)

Net current liabilities

 

(238,595)

(368,059)

Total assets less current liabilities

 

400,833

271,369

Provisions for liabilities

(62,507)

(62,507)

Net assets

 

338,326

208,862

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

187,521

187,521

Profit and loss account

150,705

21,241

Total equity

 

338,326

208,862

 

Duralife Holdings Limited
(Registration number: 10518420)

Balance Sheet as at 31 August 2024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 20 November 2024
 

.........................................
L C Wilkins
Director

 

Duralife Holdings Limited
(Registration number: 10518420)

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit B5
Reme Drive
Heathpark Industrial Estate
Honiton
Devon
EX14 1SE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Duralife Holdings Limited
(Registration number: 10518420)

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Duralife Holdings Limited
(Registration number: 10518420)

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Duralife Holdings Limited
(Registration number: 10518420)

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 September

495,000

At 31 August

495,000

There has been no valuation of investment property by an independent valuer.

5

Investments

2024
£

2023
£

Investments in subsidiaries

144,428

144,428

Subsidiaries

£

Cost or valuation

At 1 September 2023

144,428

At 31 August 2024

144,428

Carrying amount

At 31 August 2024

144,428

At 31 August 2023

144,428

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

53,779

174,572

Taxation and social security

 

6,991

4,834

Other creditors

 

210,322

209,078

Accrued expenses

 

2,040

840

 

273,132

389,324