4
false
false
false
false
true
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
1,121,501
21
1,121,522
1,121,499
23
2
xbrli:pure
xbrli:shares
iso4217:GBP
07860824
2023-10-01
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07860824
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2023-10-01
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2024-09-30
07860824
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2023-09-30
07860824
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07860824
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2023-09-30
07860824
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2024-09-30
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07860824
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2024-09-30
07860824
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2024-09-30
07860824
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2023-10-01
2024-09-30
07860824
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2023-10-01
2024-09-30
07860824
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2024-09-30
07860824
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2023-09-30
07860824
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2024-09-30
07860824
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2023-09-30
07860824
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2024-09-30
07860824
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2023-09-30
07860824
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2024-09-30
07860824
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2023-09-30
07860824
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2024-09-30
07860824
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2023-09-30
07860824
core:CostValuation
core:Non-currentFinancialInstruments
2023-09-30
07860824
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core:Non-currentFinancialInstruments
2024-09-30
07860824
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core:Non-currentFinancialInstruments
2024-09-30
07860824
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core:ProvisionsForImpairmentInvestments
2024-09-30
07860824
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2024-09-30
07860824
core:Non-currentFinancialInstruments
2023-09-30
07860824
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2023-09-30
07860824
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2023-09-30
07860824
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2023-09-30
07860824
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07860824
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2023-10-01
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2024-09-30
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2024-09-30
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2023-09-30
07860824
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2024-09-30
07860824
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2023-09-30
07860824
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2024-09-30
07860824
bus:AllOrdinaryShares
2023-09-30
COMPANY REGISTRATION NUMBER:
07860824
Dukefield Properties Limited |
|
Filleted Unaudited Financial Statements |
|
Dukefield Properties Limited |
|
Year ended 30 September 2024
Officers and professional advisers |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
4 |
|
|
Dukefield Properties Limited |
|
Officers and Professional Advisers |
|
The board of directors |
Mrs R Phillips |
|
Mr S Phillips |
|
Mr R Phillips |
|
Miss C Phillips |
|
|
Registered office |
Dukefield House |
|
The Gables |
|
Three Crosses |
|
Swansea |
|
Wales |
|
SA4 3PL |
|
|
Accountants |
James & Uzzell Ltd |
|
Chartered Certified Accountants |
|
Axis 15, Axis Court |
|
Mallard Way |
|
Riverside Business Park |
|
Swansea |
|
SA7 0AJ |
|
|
Dukefield Properties Limited |
|
Statement of Financial Position |
|
30 September 2024
FIXED ASSETS
Tangible assets |
5 |
6,068,974 |
6,130,005 |
Investments |
6 |
23 |
2 |
|
------------ |
------------ |
|
6,068,997 |
6,130,007 |
|
|
|
|
CURRENT ASSETS
Debtors |
7 |
42,803 |
19,884 |
Cash at bank and in hand |
83,586 |
50,817 |
|
--------- |
-------- |
|
126,389 |
70,701 |
|
|
|
|
CREDITORS: amounts falling due within one year |
8 |
1,091,468 |
1,109,148 |
|
------------ |
------------ |
NET CURRENT LIABILITIES |
965,079 |
1,038,447 |
|
------------ |
------------ |
TOTAL ASSETS LESS CURRENT LIABILITIES |
5,103,918 |
5,091,560 |
|
|
|
|
CREDITORS: amounts falling due after more than one year |
9 |
3,226,927 |
3,314,299 |
|
|
|
|
PROVISIONS
Taxation including deferred tax |
241,362 |
219,018 |
|
------------ |
------------ |
NET ASSETS |
1,635,629 |
1,558,243 |
|
------------ |
------------ |
|
|
|
CAPITAL AND RESERVES
Called up share capital |
10 |
100 |
100 |
Revaluation reserve |
377,266 |
377,266 |
Profit and loss account |
1,258,263 |
1,180,877 |
|
------------ |
------------ |
SHAREHOLDERS FUNDS |
1,635,629 |
1,558,243 |
|
------------ |
------------ |
|
|
|
|
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 income statement 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
.
Dukefield Properties Limited |
|
Statement of Financial Position (continued) |
|
30 September 2024
These financial statements were approved by the
board of directors
and authorised for issue on
5 March 2025
, and are signed on behalf of the board by:
Mr Simon Phillips
Simon John Phillips
Director
Company registration number:
07860824
Dukefield Properties Limited |
|
Notes to the Financial Statements |
|
Year ended 30 September 2024
1.
GENERAL INFORMATION
Dukefield Properties Limited
is a private company limited by shares incorporated in England & Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements.
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 a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The reporting period of these financial statements and its comparative period is 12 months. These financial statements only include the results of the individual entity made up to 30 September 2024. 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.
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
Going concern
The director has considered the future trading position of the company and is confident that the going concern principle can be applied to the financial statements.
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.
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Judgements and key sources of estimation uncertainty
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below
(i) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 12 for the carrying amount of the property plant and equipment, and the depreciation accounting policy for the useful economic lives for each class of assets.
(ii) Impairment of debtors
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 13 for the net carrying amount of the debtors and associated impairment provision.
(iii) Provisions
Estimates are used in determining the value of provisions when recognised. This will be based on historical information, known expectations and reasonable outcomes
(iv) Going Concern
The assessment of going concern may include the use of critical judgements in respect of impact of various external factors such as political, economic and social issues. Material uncertainties are considered in this regard
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.
Leases
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.
Where goods are sold using finance leases, the entity recognises turnover from the sale of goods and the rights to receive future lease payments as a debtor. Minimum lease payments are apportioned between finance income and the reduction of the lease debtor with finance income allocated so as to produce a constant periodic rate of interest on the net investment in the finance lease.
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Consolidation
The parent company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by s398 of the Companies Act 2006 not to prepare group accounts.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.
Revenue recognition
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 maintenance is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to monies received. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. Interest receivable and dividends receivable Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established. Rental income Income from rentals is recognised in accordance with the terms of the relevant lease.
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 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.
Investment properties
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Investment Properties
-
0% per annum of cost
|
Plant & Machinery |
- |
10%/25% per annum of cost |
|
Motor Vehicles |
- |
|
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
4
(2023:
4
).
5.
TANGIBLE ASSETS
|
Land and buildings |
Plant and machinery |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
At 1 October 2023 |
5,692,009 |
399,075 |
129,866 |
6,220,950 |
Additions |
11,829 |
158,664 |
114,139 |
284,632 |
Disposals |
(
230,050) |
– |
(
84,656) |
(
314,706) |
|
------------ |
--------- |
--------- |
------------ |
At 30 September 2024 |
5,473,788 |
557,739 |
159,349 |
6,190,876 |
|
------------ |
--------- |
--------- |
------------ |
Depreciation |
|
|
|
|
At 1 October 2023 |
– |
49,788 |
41,157 |
90,945 |
Charge for the year |
– |
44,660 |
36,152 |
80,812 |
Disposals |
– |
– |
(
49,855) |
(
49,855) |
|
------------ |
--------- |
--------- |
------------ |
At 30 September 2024 |
– |
94,448 |
27,454 |
121,902 |
|
------------ |
--------- |
--------- |
------------ |
Carrying amount |
|
|
|
|
At 30 September 2024 |
5,473,788 |
463,291 |
131,895 |
6,068,974 |
|
------------ |
--------- |
--------- |
------------ |
At 30 September 2023 |
5,692,009 |
349,287 |
88,709 |
6,130,005 |
|
------------ |
--------- |
--------- |
------------ |
|
|
|
|
|
Net book value of land & buildings at the year end comprised:
|
|
2024 |
2023 |
|
|
£ |
£ |
|
Investment properties |
5,473,788 |
5,692,009 |
|
|
|
|
Cost or valuation of land & buildings comprises:
|
|
2024 |
|
|
£ |
|
Cost |
5,095,725 |
|
Valuation 2022 |
596,284 |
|
|
------------ |
|
NBV @ 30.09.24 |
5,692,009 |
|
|
------------ |
|
|
|
The comparable amounts determined according to the historical cost convention are as follows:
|
|
2024 |
|
|
£ |
|
Cost |
5,095,725 |
|
NBV at 30.09.24 |
5,095,725 |
|
NBV at 30.09.23 |
4,624,725 |
|
|
|
6.
INVESTMENTS
|
Shares in participating interests |
|
£ |
Cost |
|
At 1 October 2023 |
1,121,501 |
Additions |
21 |
|
------------ |
At 30 September 2024 |
1,121,522 |
|
------------ |
Impairment |
|
At 1 October 2023 and 30 September 2024 |
1,121,499 |
|
------------ |
|
|
Carrying amount |
|
At 30 September 2024 |
23 |
|
------------ |
At 30 September 2023 |
2 |
|
------------ |
|
|
Subsidiaries, associates and other investments
|
Class of share |
Percentage of shares held |
Subsidiary undertakings |
|
|
Dukefield Investments Limited |
ordinary |
100 |
GAB Management Limited |
ordinary |
100 |
Oxwich Management Company Limited |
ordinary |
100 |
|
|
|
Associated undertaking
Bailey Court Management Company Swansea Limited |
ordinary |
42 |
|
|
|
7.
DEBTORS
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
4,528 |
10,923 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
38,227 |
7,210 |
Other debtors |
48 |
1,751 |
|
-------- |
-------- |
|
42,803 |
19,884 |
|
-------- |
-------- |
|
|
|
8.
CREDITORS:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
175,306 |
206,833 |
Trade creditors |
63,056 |
60,054 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
30,298 |
37,889 |
Social security and other taxes |
33,022 |
– |
Other creditors |
789,786 |
804,372 |
|
------------ |
------------ |
|
1,091,468 |
1,109,148 |
|
------------ |
------------ |
|
|
|
The bank loans and overdraft are secured by a legal charge over the properties. Obligations under finance leases and hire purchase contracts are secured by related assets. The aggregate of secured liabilities falling due within one year is £272,091 (2023: £292,624).
9.
CREDITORS:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
2,868,826 |
2,979,882 |
Other creditors |
358,101 |
334,417 |
|
------------ |
------------ |
|
3,226,927 |
3,314,299 |
|
------------ |
------------ |
|
|
|
The bank loans and overdraft are secured by a legal charge over the properties. The aggregate of secured liabilities falling due after one year is £3,226,926 (2023: £3,314,299).
10.
CALLED UP SHARE CAPITAL
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
52 |
52 |
52 |
52 |
Ordinary A shares of £ 1 each |
48 |
48 |
48 |
48 |
|
---- |
---- |
---- |
---- |
|
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
11.
OTHER FINANCIAL COMMITMENTS
The total amount of commitments, guarantees and contingencies as of 30 September 2024 is £3,481 (2023: £20,970).
12.
RELATED PARTY TRANSACTIONS
The following balances were owed from other related parties at the year end:
|
|
2024 |
2023 |
|
|
£ |
£ |
|
Balance owing (to) other related parties |
(16,317) |
(12,146) |
|
Balance owing from related parties |
28,427 |
7,210 |
|
|
|
|
No interest has been charged in relation to this balance. The following balances were owed from key management personnel at the year end: At the year end the company owed the directors £441,595 (2023:£596,251) No interest has been charged in relation to this balance. Exemption under Section 33.1A has been claimed to not disclose transactions for 100% group companies