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Registered number: 08252698
The Duck Truck Company Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Hammond Ford & Co Limited
Unit 6 Church Road
Barrow
Bury St. Edmunds
IP29 5AX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08252698
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 113,844 132,290
113,844 132,290
CURRENT ASSETS
Stocks 5 - 15,000
Debtors 6 51,900 -
Cash at bank and in hand 2,373 403
54,273 15,403
Creditors: Amounts Falling Due Within One Year 7 (94,291 ) (32,909 )
NET CURRENT ASSETS (LIABILITIES) (40,018 ) (17,506 )
TOTAL ASSETS LESS CURRENT LIABILITIES 73,826 114,784
Creditors: Amounts Falling Due After More Than One Year 8 (67,188 ) (87,864 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (22,853 ) (25,097 )
NET (LIABILITIES)/ASSETS (16,215 ) 1,823
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (16,217 ) 1,821
SHAREHOLDERS' FUNDS (16,215) 1,823
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Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Edward Farrell
Director
17th March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
The Duck Truck Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08252698 . The registered office is Unit 6 Church Farm, , Church Road, Barrow, Bury St Edmunds, IP29 5AX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Revaluation
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 10% Straight Line
Computer Equipment 33% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: 5)
- 5
Page 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 137,254 91,815 40,752 13,431 283,252
Additions 770 - - - 770
As at 31 December 2024 138,024 91,815 40,752 13,431 284,022
Depreciation
As at 1 January 2024 81,368 48,919 8,421 12,254 150,962
Provided during the period 8,499 6,434 3,233 1,050 19,216
As at 31 December 2024 89,867 55,353 11,654 13,304 170,178
Net Book Value
As at 31 December 2024 48,157 36,462 29,098 127 113,844
As at 1 January 2024 55,886 42,896 32,331 1,177 132,290
5. Stocks
2024 2023
£ £
Stock - 15,000
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 51,900 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 4,143 3,124
Other taxes and social security - 846
VAT 165 7,981
Net wages - 1,280
Other creditors 89,972 19,670
Director's loan account 11 8
94,291 32,909
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 67,188 87,864
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Page 5
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Ultimate Controlling Party
The company's ultimate controlling party is Mr E A W Farrell by virtue of his ownership of 100% of the issued share capital in the company.
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