2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 3,875,500 6,448 34,700 41,148 3,834,352 3,869,052 2,225,609 2,225,609 2,225,609 xbrli:pure xbrli:shares iso4217:GBP 03956026 2023-10-01 2024-09-30 03956026 2024-09-30 03956026 2023-09-30 03956026 2022-10-01 2023-09-30 03956026 2023-09-30 03956026 2022-09-30 03956026 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03956026 bus:Director4 2023-10-01 2024-09-30 03956026 core:LandBuildings 2023-09-30 03956026 core:LandBuildings 2024-09-30 03956026 core:WithinOneYear 2024-09-30 03956026 core:WithinOneYear 2023-09-30 03956026 core:AfterOneYear 2024-09-30 03956026 core:AfterOneYear 2023-09-30 03956026 core:ShareCapital 2024-09-30 03956026 core:ShareCapital 2023-09-30 03956026 core:CapitalRedemptionReserve 2024-09-30 03956026 core:CapitalRedemptionReserve 2023-09-30 03956026 core:RetainedEarningsAccumulatedLosses 2024-09-30 03956026 core:RetainedEarningsAccumulatedLosses 2023-09-30 03956026 core:LandBuildings 2023-10-01 2024-09-30 03956026 core:CostValuation core:Non-currentFinancialInstruments 2024-09-30 03956026 core:Non-currentFinancialInstruments 2024-09-30 03956026 core:Non-currentFinancialInstruments 2023-09-30 03956026 core:BetweenOneFiveYears 2024-09-30 03956026 core:BetweenOneFiveYears 2023-09-30 03956026 core:LandBuildings 2023-09-30 03956026 bus:Director1 2023-10-01 2024-09-30 03956026 bus:SmallEntities 2023-10-01 2024-09-30 03956026 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 03956026 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 03956026 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 03956026 bus:FullAccounts 2023-10-01 2024-09-30
COMPANY REGISTRATION NUMBER: 03956026
Dufaylite Group Limited
Filleted Unaudited Financial Statements
For the year ended
30 September 2024
Dufaylite Group Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
3,834,352
3,869,052
Investments
6
2,225,609
2,225,609
------------
------------
6,059,961
6,094,661
Current assets
Cash at bank and in hand
306,336
168,634
Creditors: amounts falling due within one year
7
1,066,644
1,336,820
------------
------------
Net current liabilities
760,308
1,168,186
------------
------------
Total assets less current liabilities
5,299,653
4,926,475
Creditors: amounts falling due after more than one year
8
1,925,253
1,957,458
Provisions
Taxation including deferred tax
614,937
614,937
------------
------------
Net assets
2,759,463
2,354,080
------------
------------
Capital and reserves
Called up share capital
41,070
41,070
Capital redemption reserve
33,930
33,930
Profit and loss account
2,684,463
2,279,080
------------
------------
Shareholders funds
2,759,463
2,354,080
------------
------------
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 30 September 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 .
Dufaylite Group Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 23 December 2024 , and are signed on behalf of the board by:
A Moscrop
Director
Company registration number: 03956026
Dufaylite Group Limited
Notes to the Financial Statements
Year ended 30 September 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 Cromwell Road, St Neots, Cambridgeshire, PE19 1QW.
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. The financial statements are prepared in sterling, which is the functional currency of the entity. Consolidation The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as disclosed in the accounting policies and notes to the financial statements. Accounting estimates and assumption are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as disclosed in the accounting policies and notes to the financial statements. 1. Depreciation charge The annual depreciation charge for each class of tangible fixed asset is based on an estimate of the useful economic life of the respective assets. This is reviewed periodically by the directors to ensure that they reflect both the external and internal factors. Revenue recognition Turnover is wholly attributable to continuing activities. The directors consider that the disclosure requirements of paragraph 55 of schedule 4 to the Companies Act 2006 would be prejudicial to the interests of the group. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 2% straight line
Investments Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. 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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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 October 2023 and 30 September 2024
3,875,500
------------
Depreciation
At 1 October 2023
6,448
Charge for the year
34,700
------------
At 30 September 2024
41,148
------------
Carrying amount
At 30 September 2024
3,834,352
------------
At 30 September 2023
3,869,052
------------
The land value of the property is £2,140,500 which has not been depreciated.
6. Investments
Shares in group undertakings
£
Cost
At 1 October 2023 and 30 September 2024
2,225,609
------------
Impairment
At 1 October 2023 and 30 September 2024
------------
Carrying amount
At 30 September 2024
2,225,609
------------
At 30 September 2023
2,225,609
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
32,200
29,129
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,031,444
1,277,804
Other creditors
3,000
29,887
------------
------------
1,066,644
1,336,820
------------
------------
Bank loans and overdrafts are secured on the assets to which they relate.
There is a cross guarantee and debenture between the company and its subsidiary undertaking.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,925,253
1,957,458
------------
------------
Bank loans and overdrafts are secured on the assets to which they relate.
There is a cross guarantee and debenture between the company and its subsidiary undertaking.
9. Operating leases
As lessor
The total future minimum lease payments receivable under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
395,000
395,000
Later than 1 year and not later than 5 years
1,052,675
1,447,675
------------
------------
1,447,675
1,842,675
------------
------------
10. Controlling party
The company is under the control of A Moscrop .