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REGISTERED NUMBER: 11340644 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

DUALLOK LIMITED

DUALLOK LIMITED (REGISTERED NUMBER: 11340644)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DUALLOK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr S J P Bradley
Mr C A Cleary
Ms R H Reardon
Mr D B Whitehurst





REGISTERED OFFICE: Unit B, Flat Iron Yard
14 Ayres Street
London
SE1 1ES





REGISTERED NUMBER: 11340644 (England and Wales)





AUDITORS: Ashfords Partnership LLP
114-116 Goodmayes Road
Ilford
Esex
IG3 9UZ

DUALLOK LIMITED (REGISTERED NUMBER: 11340644)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 283,915 277,188
Tangible assets 5 24,396 32,155
308,311 309,343

CURRENT ASSETS
Stocks 56,278 58,864
Debtors 6 91,422 47,170
Cash at bank 10,826 3,319
158,526 109,353
CREDITORS
Amounts falling due within one year 7 43,423 27,917
NET CURRENT ASSETS 115,103 81,436
TOTAL ASSETS LESS CURRENT
LIABILITIES

423,414

390,779

CREDITORS
Amounts falling due after more than one year 8 1,670,840 1,579,667
NET LIABILITIES (1,247,426 ) (1,188,888 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 9 (1,248,426 ) (1,189,888 )
SHAREHOLDERS' FUNDS (1,247,426 ) (1,188,888 )

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 21 February 2025 and were signed on its behalf by:





Ms R H Reardon - Director


DUALLOK LIMITED (REGISTERED NUMBER: 11340644)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Duallok 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.

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.

Patents & Trademarks are being amortised evenly over their estimated useful life of twenty years.

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 - 15% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Going concern
The accounts have been prepared on going concern basis which assumes that the company will continue to receive adequate financial assistance from the Directors, Bankers, other creditors.

DUALLOK LIMITED (REGISTERED NUMBER: 11340644)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Patents &
Trademarks
£   
COST
At 1 June 2023 330,337
Additions 24,467
At 31 May 2024 354,804
AMORTISATION
At 1 June 2023 53,149
Amortisation for year 17,740
At 31 May 2024 70,889
NET BOOK VALUE
At 31 May 2024 283,915
At 31 May 2023 277,188

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 6,505 127,490 133,995
DEPRECIATION
At 1 June 2023 3,701 98,139 101,840
Charge for year 421 7,338 7,759
At 31 May 2024 4,122 105,477 109,599
NET BOOK VALUE
At 31 May 2024 2,383 22,013 24,396
At 31 May 2023 2,804 29,351 32,155

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 64,793 6,010
Other debtors 26,629 41,160
91,422 47,170

DUALLOK LIMITED (REGISTERED NUMBER: 11340644)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 40,828 25,178
Other creditors 2,595 2,739
43,423 27,917

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Other creditors 1,670,840 1,579,667

9. RESERVES
Retained
earnings
£   

At 1 June 2023 (1,189,888 )
Deficit for the year (58,538 )
At 31 May 2024 (1,248,426 )

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for Qualified opinion of the financial statements
Patent and Trademarks

The Patent and Trademarks are carried at cost in the Financial Statements as at 31 May 2024, Management has not stated the patents and trademarks at fair value which constitute a departure from the IFRSs. Hence, we are not able to comment on the fair value in the financial statements as at 31 May 2024.

Mr Ashok Mukundlal Shah (Senior Statutory Auditor)
for and on behalf of Ashfords Partnership LLP

11. RELATED PARTY DISCLOSURES

At 31 May 2024, the company owed £1,670,840 (2023:£1,579,667) to Burgopak Limited. The amount due has been converted to a formal loan since the demerger of Duallok Limited from Burgopak Holdings Limited on 14/01/2020.

12. ULTIMATE CONTROLLING PARTY

As at 31st May 2024, the company is controlled by Duallok Holdings Limited, which is a parent company.

The ultimate controlling party are the shareholders of Duallok Holdings Limited.