Company registration number 04113810 (England and Wales)
LITTLE DUTY LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
LITTLE DUTY LIMITED
COMPANY INFORMATION
Directors
M Dwan
J Connolly
Secretary
North Consulting Limited
Company number
04113810
Registered office
Building 1000 Kings Reach
Yew Street
Stockport
SK4 2HG
Accountants
Azets
Fleet House
New Road
Lancaster
United Kingdom
LA1 1EZ
LITTLE DUTY LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Balance sheet
3
Notes to the financial statements
4 - 5
LITTLE DUTY LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -
The directors present their annual report and financial statements for the year ended 31 August 2024.
Principal activities
The principal activity of the company is as a dormant investment holding company.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
M Dwan
J Connolly
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
By order of the board
North Consulting Limited
Secretary
23 January 2025
LITTLE DUTY LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LITTLE DUTY LIMITED FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Little Duty Limited for the year ended 31 August 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the board of directors of Little Duty Limited, as a body, in accordance with the terms of our engagement letter dated 3 November 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Little Duty Limited and state those matters that we have agreed to state to the board of directors of Little Duty Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Little Duty Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Little Duty Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Little Duty Limited. You consider that Little Duty Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Little Duty Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Azets
31 January 2025
Fleet House
New Road
Lancaster
United Kingdom
LA1 1EZ
LITTLE DUTY LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
10,000
10,000
Capital and reserves
Called up share capital
5
10,000
10,000
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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 of the Companies Act 2006.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 January 2025 and are signed on its behalf by:
M Dwan
Director
Company Registration No. 04113810
LITTLE DUTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
1
Accounting policies
Company information
Little Duty Limited is a private company limited by shares incorporated in England and Wales. The registered office is Building 1000 Kings Reach, Yew Street, Stockport, SK4 2HG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Exemption from preparing consolidated financial statements
The company, and the group headed by it, qualify as small as set out in section 399 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
1.2
Profit and loss account
The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no profit and loss account is presented in these financial statements.
1.3
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
2
Judgements and key sources of estimation uncertainty
The directors have made no material judgements or key estimates in preparing these financial statements.
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
10,000
10,000
LITTLE DUTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
4
Subsidiaries
Details of the company's subsidiaries at 31 August 2024 are as follows:
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Indirect
Equity Solutions (Manchester) Limited
Building 1000 Kings Reach, Yew Street, Stockport, SK42HG
Group holding company
Ordinary
100.00
-
Education Solutions Speke Limited
Building 1000 Kings Reach, Yew Street, Stockport, SK42HG
Service and maintenance of a PFI contract
Ordinary
0
100.00
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
4,000
4,000
4,000
4,000
Ordinary B of £1 each
6,000
6,000
6,000
6,000
10,000
10,000
10,000
10,000
6
Related party transactions
The company has taken advantage of the exemption available in Section 1AC.35 of FRS 102 Section 1A whereby it has not disclosed transcations with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
7
Parent company
The ultimate controlling party is M Dwan.