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Registered number: 05102499
Duo Skip Hire Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Deans
Gibson House Hurricane Court
Hurricane Close
Stafford
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05102499
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 522,121 798,429
Investment Properties 5 181,969 181,969
704,090 980,398
CURRENT ASSETS
Debtors 6 2,443,871 1,699,579
Cash at bank and in hand 1,777,341 1,525,828
4,221,212 3,225,407
Creditors: Amounts Falling Due Within One Year 7 (482,177 ) (530,307 )
NET CURRENT ASSETS (LIABILITIES) 3,739,035 2,695,100
TOTAL ASSETS LESS CURRENT LIABILITIES 4,443,125 3,675,498
PROVISIONS FOR LIABILITIES
Deferred Taxation (116,911 ) (195,984 )
NET ASSETS 4,326,214 3,479,514
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 4,326,114 3,479,414
SHAREHOLDERS' FUNDS 4,326,214 3,479,514
Page 1
Page 2
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.
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A L Hughes
Director
7 March 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Duo Skip Hire Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of 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.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:
Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from waste removal and skip hire is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by the date of hire or waste removal service.
Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.
Rental income
Rental income from operating leases net of any incentives given to the lessee is recognised on a straight line basis over the lease term.
2.3. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. 
Improvements to property Straight line over 20 years
Plant & Machinery 20% on cost
Motor Vehicles 20% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 20% on cost
2.4. Investment Properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Page 3
Page 4
2.6. 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 assesments 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.
2.7. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2.8. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2.9. Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 20 (2023: 19)
20 19
4. Tangible Assets
Land & Property
Improvements to property Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 67,391 114,556 1,338,489 955
Additions - 39,902 162,225 -
Disposals (27,450 ) (73,782 ) (401,301 ) -
As at 31 March 2024 39,941 80,676 1,099,413 955
Depreciation
As at 1 April 2023 5,187 82,344 638,197 191
Provided during the period 1,832 14,790 186,574 175
Disposals (1,373 ) (60,605 ) (167,706 ) -
As at 31 March 2024 5,646 36,529 657,065 366
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 March 2024 34,295 44,147 442,348 589
As at 1 April 2023 62,204 32,212 700,292 764
Computer Equipment Total
£ £
Cost
As at 1 April 2023 9,238 1,530,629
Additions 1,607 203,734
Disposals (7,776 ) (510,309 )
As at 31 March 2024 3,069 1,224,054
Depreciation
As at 1 April 2023 6,281 732,200
Provided during the period 220 203,591
Disposals (4,174 ) (233,858 )
As at 31 March 2024 2,327 701,933
Net Book Value
As at 31 March 2024 742 522,121
As at 1 April 2023 2,957 798,429
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 181,969
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 181,969 181,969
The directors are of the opinion that the fair value of the investment property as at 31 March 2024 accords to the value shown on the balance sheet being £181,969 (2023 - £181,969). The value is based on a valuation by the directors in 2024.
The historical cost of the investment property as at 31 March 2024 was £181,969 (2023 - £181,969).
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 89,759 132,727
Prepayments and accrued income 260,040 76,352
Other debtors - 2,260
Amounts owed by associated companies 2,094,072 1,488,240
2,443,871 1,699,579
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 25,237
Trade creditors 84,129 271,717
Bank loans and overdrafts 20 -
Corporation tax 275,674 47,671
Other taxes and social security 19,640 15,901
VAT 56,342 123,568
Other creditors 11,105 3,984
Accruals and deferred income 4,753 4,500
Directors' loan accounts 30,514 37,729
482,177 530,307
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 25,237
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
50 Ordinary Shares of £ 1.00 each 50 50
50 Ordinary A shares of £ 1.00 each 50 50
100 100
Page 6