Company Registration No. 09545657 (England and Wales)
Duckduck Ltd
Unaudited accounts
for the year ended 30 April 2024
Duckduck Ltd
Company Information
for the year ended 30 April 2024
Directors
Gregor Hoefter
Maruan El-Hakim
LCIF Representatives Limited
Company Number
09545657 (England and Wales)
Registered Office
Suite 1-3 The Hop Exchange
24 Southwark Street
London
SE1 1TY
United Kingdom
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
Duckduck Ltd
Accountants' report
Accountants' report to the board of directors of Duckduck Ltd on the preparation of the unaudited statutory accounts for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Duckduck Ltd for the year ended
30 April 2024 as set out on pages
5 -
9 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Duckduck Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Duckduck Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Duckduck Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Duckduck Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Duckduck Ltd. You consider that Duckduck Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Duckduck Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
13 January 2025
Duckduck Ltd
Statement of financial position
as at 30 April 2024
Tangible assets
1,063
1,099
Cash at bank and in hand
269,251
15,705
Creditors: amounts falling due within one year
(405,644)
(320,272)
Net current assets/(liabilities)
229,698
(50,000)
Total assets less current liabilities
230,761
(48,901)
Creditors: amounts falling due after more than one year
(17,620)
(27,500)
Net assets/(liabilities)
213,141
(76,401)
Called up share capital
2,357
2,097
Share premium
1,352,476
831,768
Profit and loss account
(1,141,692)
(910,266)
Shareholders' funds
213,141
(76,401)
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by
Gregor Hoefter
Director
Company Registration No. 09545657
Duckduck Ltd
Notes to the Accounts
for the year ended 30 April 2024
Duckduck Ltd is a private company, limited by shares, registered in England and Wales, registration number 09545657. The registered office is Suite 1-3 The Hop Exchange, 24 Southwark Street, London, SE1 1TY, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding and support will be adequate for the company's needs.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Interest income is recognised in profit or loss using the effective interest method.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Duckduck Ltd
Notes to the Accounts
for the year ended 30 April 2024
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
3 years straight line
Computer equipment
3 years straight line
The company accounts for stock purchased and not sold in the period, reporting it as stock, valued at the lower of cost or net realisable value.
Short term debtors are measured at transaction price, less any impairment. Loans receivables 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.
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.
Short term trade 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.
Current and deferred taxation
The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the company operates.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
• The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of tax liabilities or other future taxable profits; and
• Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Duckduck Ltd
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 May 2023
8,572
600
9,172
At 30 April 2024
8,572
1,609
10,181
At 1 May 2023
7,723
350
8,073
Charge for the year
637
408
1,045
At 30 April 2024
8,360
758
9,118
At 30 April 2024
212
851
1,063
At 30 April 2023
849
250
1,099
Amounts falling due within one year
Trade debtors
67,564
13,151
Deferred tax asset
252,993
184,154
Accrued income and prepayments
8,946
26,333
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,648
10,000
Trade creditors
15,202
8,371
Taxes and social security
8,233
17,960
Other creditors
1,566
6,304
Loans from directors
339,173
268,920
Deferred income
10,322
4,531
7
Creditors: amounts falling due after more than one year
2024
2023
Duckduck Ltd
Notes to the Accounts
for the year ended 30 April 2024
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounts to £6,733 (2023: £6,237). Contributions totalling £1,566 (2023: £1,049) were payable to the fund at the reporting date and are included in creditors.
9
Average number of employees
During the year the average number of employees was 8 (2023: 5).