REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
Duchy Investments Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
( |
) | NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) | PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
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 |
Plant and machinery etc | - |
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 |
Additions |
At 30 June 2024 |
AMORTISATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
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 |
Additions |
Disposals | ( |
) |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
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 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Hire purchase contracts |
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 |
Plant Revaluation | (63,126 | ) |
At 30 June 2024 |
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. |