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REGISTERED NUMBER: 12314411 (England and Wales)









Financial Statements

for the Year Ended 31 March 2024

for

Duneane Asset Management Ltd

Duneane Asset Management Ltd (Registered number: 12314411)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Duneane Asset Management Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr D McCann
Mr M McCloy





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 12314411 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Duneane Asset Management Ltd (Registered number: 12314411)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,963 11,536
Investments 5 456,411 256,411
463,374 267,947

CURRENT ASSETS
Debtors 6 2,401,608 2,275,150
Cash at bank 425,290 94,238
2,826,898 2,369,388
CREDITORS
Amounts falling due within one year 7 1,950,327 1,215,736
NET CURRENT ASSETS 876,571 1,153,652
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,339,945

1,421,599

CREDITORS
Amounts falling due after more than one
year

8

12,219

22,426
NET ASSETS 1,327,726 1,399,173

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,327,626 1,399,073
1,327,726 1,399,173

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2025 and were signed on its behalf by:




Mr D McCann - Director


Duneane Asset Management Ltd (Registered number: 12314411)

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

1. STATUTORY INFORMATION

Duneane Asset Management Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

An unlisted investment of £256,410 made in the year ended 31 March 2023 was inadvertently classified as part of other debtors in the 2023 financial statements. The opening balances at 1 April 2023 and the comparative figures in the balance sheet have been restated to rectify this.

Turnover
Turnover is measured at fair value of the consideration from commissions and disposals on completion, excluding rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% Straight line
Computer equipment - 33.33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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
Contributions payable to pension schemes are charged to profit or loss in the period to which they relate.

Unlisted investment
Unlisted investments are stated at cost less provision for permanent diminution in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Duneane Asset Management Ltd (Registered number: 12314411)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 10,840 6,278 17,118
Additions - 208 208
At 31 March 2024 10,840 6,486 17,326
DEPRECIATION
At 1 April 2023 1,060 4,522 5,582
Charge for year 3,543 1,238 4,781
At 31 March 2024 4,603 5,760 10,363
NET BOOK VALUE
At 31 March 2024 6,237 726 6,963
At 31 March 2023 9,780 1,756 11,536

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023 256,411
Additions 200,000
At 31 March 2024 456,411
NET BOOK VALUE
At 31 March 2024 456,411
At 31 March 2023 256,411

An unlisted investment of £256,410 made in the year ended 31 March 2023 was inadvertently classified as part of other debtors in the 2023 financial statements. The opening balances at 1 April 2023 and the comparative figures in the balance sheet have been restated to rectify this.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 46,248 110,250
Other debtors 2,352,954 1,952,943
Prepayments and accrued income 2,406 211,957
2,401,608 2,275,150

Duneane Asset Management Ltd (Registered number: 12314411)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,207 9,955
Trade creditors 19,793 61,925
Tax 41,324 8,711
VAT 8,112 22,292
Other creditors 1,551,451 589,557
Directors' current accounts 135,774 440,883
Accruals and deferred income 183,666 82,413
1,950,327 1,215,736

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 12,219 22,426