2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 395,700 395,700 395,700 251,782 251,782 251,782 xbrli:pure xbrli:shares iso4217:GBP 07022400 2023-04-01 2024-03-31 07022400 2024-03-31 07022400 2023-03-31 07022400 2022-04-01 2023-03-31 07022400 2023-03-31 07022400 2022-03-31 07022400 bus:Director1 2023-04-01 2024-03-31 07022400 core:WithinOneYear 2024-03-31 07022400 core:WithinOneYear 2023-03-31 07022400 core:AfterOneYear 2024-03-31 07022400 core:AfterOneYear 2023-03-31 07022400 core:ShareCapital 2024-03-31 07022400 core:ShareCapital 2023-03-31 07022400 core:RetainedEarningsAccumulatedLosses 2024-03-31 07022400 core:RetainedEarningsAccumulatedLosses 2023-03-31 07022400 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 07022400 core:Non-currentFinancialInstruments 2024-03-31 07022400 core:Non-currentFinancialInstruments 2023-03-31 07022400 core:LandBuildings 2024-03-31 07022400 core:LandBuildings 2023-03-31 07022400 bus:SmallEntities 2023-04-01 2024-03-31 07022400 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07022400 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07022400 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07022400 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 07022400
Duo Investments Limited
Filleted Unaudited Financial Statements
31 March 2024
Duo Investments Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
395,700
395,700
Investments
6
251,782
251,782
---------
---------
647,482
647,482
Current assets
Stocks
42,734
42,734
Debtors
7
1,420,442
1,480,805
Cash at bank and in hand
3,071
10,526
------------
------------
1,466,247
1,534,065
Creditors: amounts falling due within one year
8
802,888
766,667
------------
------------
Net current assets
663,359
767,398
------------
------------
Total assets less current liabilities
1,310,841
1,414,880
Creditors: amounts falling due after more than one year
9
750,000
750,000
------------
------------
Net assets
560,841
664,880
------------
------------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
559,841
663,880
---------
---------
Shareholders funds
560,841
664,880
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Duo Investments Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 11 December 2024 , and are signed on behalf of the board by:
Mr T Dean
Director
Company registration number: 07022400
Duo Investments Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ash House, Breckenwood Road, Fulbourn, Cambridge, CB21 5DQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
All fixed assets are initially recorded at cost. Investment properties are stated at open market value at net of a provision for disposal costs.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Land and buildings
£
Cost
At 1 April 2023 and 31 March 2024
395,700
---------
Depreciation
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
395,700
---------
At 31 March 2023
395,700
---------
Tangible assets held at valuation
6. Investments
Other investments other than loans
£
Cost
At 1 April 2023 and 31 March 2024
251,782
---------
Impairment
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
251,782
---------
At 31 March 2023
251,782
---------
The following investments where the company held 50% or more equity:
Dean & Dean Construction Ltd - 100% equity
Duo Property Limited - 100% equity
Identified Investments Ltd - 66% equity
Madingley Developments Limited - 50% equity
7. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,170,001
1,230,512
Other debtors
250,441
250,293
------------
------------
1,420,442
1,480,805
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
170,058
183,363
Amounts owed to group undertakings and undertakings in which the company has a participating interest
616,284
566,856
Social security and other taxes
1,560
1,560
Other creditors
14,986
14,888
---------
---------
802,888
766,667
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
750,000
750,000
---------
---------
The bank loan is secured by way of a fixed and floating charge over the trade and assets of the company.