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REGISTERED NUMBER: 09320592 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

DUX Advisory Limited

DUX Advisory Limited (Registered number: 09320592)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DUX Advisory Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S K Brownsmith FCA
S J Griffiths
Mrs K Parsey
Mrs B G Permal FCA





REGISTERED OFFICE: Kennel Club House
Gatehouse Way
Aylesbury
Buckinghamshire
HP19 8DB





REGISTERED NUMBER: 09320592 (England and Wales)





ACCOUNTANTS: DUX Advisory Limited
Chartered Accountants
Kennel Club House
Gatehouse Way
Aylesbury
Buckinghamshire
HP19 8DB

DUX Advisory Limited (Registered number: 09320592)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 695,986 805,306
Tangible assets 5 16,906 33,584
Investments 6 1 1
712,893 838,891

CURRENT ASSETS
Debtors 7 330,013 448,393
Cash in hand 135 35
330,148 448,428
CREDITORS
Amounts falling due within one year 8 615,164 747,817
NET CURRENT LIABILITIES (285,016 ) (299,389 )
TOTAL ASSETS LESS CURRENT LIABILITIES 427,877 539,502

CREDITORS
Amounts falling due after more than one
year

9

89,758

209,789
NET ASSETS 338,119 329,713

CAPITAL AND RESERVES
Called up share capital 121 121
Share premium 99,988 99,988
Retained earnings 238,010 229,604
SHAREHOLDERS' FUNDS 338,119 329,713

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

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

The directors acknowledge their 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.

DUX Advisory Limited (Registered number: 09320592)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 December 2024 and were signed on its behalf by:





S K Brownsmith FCA - Director


DUX Advisory Limited (Registered number: 09320592)

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

1. STATUTORY INFORMATION

DUX Advisory 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.

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

Goodwill
In 2015 the business made 2 acquisitions and has subsequently acquired 2 further business in 2017 and 2018 respectively. The goodwill associated with these purchases is to be written off over the expected life of the asset which given the nature of the practice is expected to be between 10 and 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

DUX Advisory Limited (Registered number: 09320592)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 1,327,331
AMORTISATION
At 1 April 2023 522,025
Charge for year 109,320
At 31 March 2024 631,345
NET BOOK VALUE
At 31 March 2024 695,986
At 31 March 2023 805,306

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 187,694
Additions 2,041
At 31 March 2024 189,735
DEPRECIATION
At 1 April 2023 154,110
Charge for year 18,719
At 31 March 2024 172,829
NET BOOK VALUE
At 31 March 2024 16,906
At 31 March 2023 33,584

DUX Advisory Limited (Registered number: 09320592)

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

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 208,697 277,364
Amounts owed by group undertakings - 26,449
Other debtors 121,316 144,580
330,013 448,393

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 101,436 189,164
Trade creditors 85,565 104,098
Amounts owed to group undertakings 3,551 -
Taxation and social security 146,942 152,538
Other creditors 277,670 302,017
615,164 747,817

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 30,372
Other creditors 89,758 179,417
89,758 209,789

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 73,350 -
Between one and five years 258,650 76,250
332,000 76,250

DUX Advisory Limited (Registered number: 09320592)

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

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdrafts 69,403 153,254
Bank loans 32,033 66,282
101,436 219,536

Bank debt is secured by a fixed and floating charge over the assets of the business. Personal guarantees from the directors also part secure some of the borrowing from the bank.

12. RELATED PARTY DISCLOSURES

During the period S Brownsmith, a Director, made loans to the Company with a balance outstanding at the year end of £70,646 (2023: £83,416). K Parsey, a Director, made loans to the Company with a balance outstanding at the year end of £21,958 (2023: £46,958).