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REGISTERED NUMBER: 03493108 (England and Wales)










Unaudited Financial Statements for the Year Ended 30 June 2024

for

Duchy Investments Limited

Duchy Investments Limited (Registered number: 03493108)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Duchy Investments Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: A D Burgess
Mrs C J Slade





REGISTERED OFFICE: Swift House, Ground Floor
18 Hoffmanns Way
Chelmsford
Essex
CM1 1GU





REGISTERED NUMBER: 03493108 (England and Wales)





ACCOUNTANTS: Affinia
Swift House, Ground Floor
18 Hoffmanns Way
Chelmsford
Essex
CM1 1GU

Duchy Investments Limited (Registered number: 03493108)

Balance Sheet
30 June 2024

30.6.23 30.6.24
£    £    Notes £    £   
FIXED ASSETS
15,765 Intangible assets 4 13,689
1,193,267 Tangible assets 5 1,085,348
10,000 Investments 6 10,000
1,219,032 1,109,037

CURRENT ASSETS
124,319 Debtors 7 4,888
16,626 Cash at bank 2,684
140,945 7,572
CREDITORS
955,762 Amounts falling due within one year 8 684,381
(814,817 ) NET CURRENT LIABILITIES (676,809 )
404,215 TOTAL ASSETS LESS CURRENT
LIABILITIES

432,228

CREDITORS
- Amounts falling due after more than one
year

9

(41,475

)

(216,820 ) PROVISIONS FOR LIABILITIES (259,169 )
187,395 NET ASSETS 131,584

CAPITAL AND RESERVES
10,002 Called up share capital 10,002
175,345 Revaluation reserve 11 112,219
2,048 Retained earnings 9,363
187,395 SHAREHOLDERS' FUNDS 131,584

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Duchy Investments Limited (Registered number: 03493108)

Balance Sheet - continued
30 June 2024


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 March 2025 and were signed on its behalf by:





Mrs C J Slade - Director


Duchy Investments Limited (Registered number: 03493108)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Duchy Investments 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.

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 as modified by the revaluation of certain assets.

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 and licences are being amortised evenly over their estimated useful life of nil years.

Trademarks and patents
Trademarks and patents acquired which have a value which is substantial and long term are recorded at cost, less appropriate provisions. Acquired trademarks are only recognised where title is clear, earnings are separately identifiable and the trademark could be sold separately from the rest of the business. No annual amortisation is provided except where the end of the useful economic life of the acquired trademark can be foreseen. The useful economic lives of the trademarks and their carrying value are subject to annual review and any amortisation or provision for permanent impairment charged against the profit for the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on reducing balance and 10% on cost

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.


Duchy Investments Limited (Registered number: 03493108)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023 155,574
Additions 2,039
At 30 June 2024 157,613
AMORTISATION
At 1 July 2023 139,809
Charge for year 4,115
At 30 June 2024 143,924
NET BOOK VALUE
At 30 June 2024 13,689
At 30 June 2023 15,765

Duchy Investments Limited (Registered number: 03493108)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 1 July 2023 2,690,951
Additions 68,700
Disposals (126,604 )
At 30 June 2024 2,633,047
DEPRECIATION
At 1 July 2023 1,497,684
Charge for year 176,318
Eliminated on disposal (126,303 )
At 30 June 2024 1,547,699
NET BOOK VALUE
At 30 June 2024 1,085,348
At 30 June 2023 1,193,267

Cost or valuation at 30 June 2024 is represented by:

Plant and
machinery
etc
£   
Valuation in 2019 309,250
Cost 2,323,797
2,633,047

If plant had not been revalued it would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 2,252,497 2,183,797
Aggregate depreciation 1,320,842 1,316,425

Plant was valued on an open market basis on 30 June 2019 by the directors and equipment suppliers .

Duchy Investments Limited (Registered number: 03493108)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 30 June 2024 10,000
NET BOOK VALUE
At 30 June 2024 10,000
At 30 June 2023 10,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors - 2,400
Other debtors 4,888 121,919
4,888 124,319

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 12,443 -
Trade creditors 2,880 1,733
Amounts owed to group undertakings 615,036 912,271
Taxation and social security 49,652 37,388
Other creditors 4,370 4,370
684,381 955,762

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 41,475 -

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts 53,918 -

Duchy Investments Limited (Registered number: 03493108)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. RESERVES
Revaluation
reserve
£   
At 1 July 2023 175,345
Plant Revaluation (63,126 )

At 30 June 2024 112,219

12. RELATED PARTY DISCLOSURES

On the 28 March 2023, nine thousand and two (9,002) ordinary £1 shares were acquired by Duchy Investments EOT Limited ("The Trust"). The trust holds shares for the future benefit of the employees of the company and its subsidiary. The shares are held by Duchy Investments EOT Limited in its capacity as Corporate Trustee of the trust. The funding for the transaction (and associated costs) were partially achieved by an initial contribution by the Company.The balance of the consideration is an obligation of the Trust and so the liability for future payments have not been recognised by the Company. During the year the company made contributions to the trust of £360,000 ( 2023 £500,000l). The Company does not control the Trust and so consolidated accounts have not been prepared.

13. POST BALANCE SHEET EVENTS

No events have occured since the date of the balance sheet that need to be brought to the attention of the shareholders or third parties.