Ducales Asset No.4 Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI619030

Ducales Asset No.4 Limited

Filleted Abridged Financial Statements

30 September 2024

Ducales Asset No.4 Limited

Abridged Statement of Financial Position

30 September 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	2,857,814	2,932,645

Current assets

Debtors	62,423	69,424
Cash at bank and in hand	161,840	543,627
	---------	---------
	224,263	613,051

Creditors: amounts falling due within one year	( 2,925,673)	( 3,511,632)
	------------	------------
Net current liabilities	( 2,701,410)	( 2,898,581)
	------------	------------
Total assets less current liabilities	156,404	34,064

Provisions

Deferred tax	( 142,068)	( 140,367)
	---------	---------
Net assets/(liabilities)	14,336	( 106,303)
	---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	14,334	( 106,305)
	--------	---------
Shareholders' funds/(deficit)	14,336	( 106,303)
	--------	---------

These abridged 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 statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of abridged financial statements.

All of the members have consented to the preparation of abridged financial statements for the year ending 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 13 December 2024 , and are signed on behalf of the board by:

T J Jennings CBE
Director

Company registration number: NI619030

Ducales Asset No.4 Limited

Accounting Policies

Year ended 30 September 2024

Basis of preparation

The financial statements have been prepared on the going concern basis under the historical cost convention, in accordance with the Companies Act 2006 and the applicable Accounting Standards in the United Kingdom The principal accounting policies adopted are set out below.

Cash flow statement

The company is a wholly owned subsidiary company of a group headed by Ducales Capital Limited and is included in the consolidated financial statements of that company, which are publicly available. Consequently, the company has taken advantage of the exemption within FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' from preparing a cash flow statement.

Revenue recognition

Turnover represents rental income receivable during the period, exclusive of value added tax. Turnover is recognised at the point at which the services are provided.

Deferred tax

Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.

Purchased goodwill

Purchased goodwill acquired on the acquisition of a business is stated at cost less amortisation. The carrying value of goodwill is reviewed for impairment if events or changes in circumstances indicate the carrying value may not be recoverable. Amortisation is calculated so as to write off the cost of goodwill, less its estimated residual value, over its useful economic life - 10% straight line.

Tangible assets

Tangible assets are stated at cost less accumulated depreciation. The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	2% straight line
Plant and machinery	-	20% straight line

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Ducales Asset No.4 Limited

Notes to the Abridged Financial Statements

Year ended 30 September 2024

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 16 Talbot Street, Saint Anne's Square, Belfast, BT1 2NF.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

3. Employee numbers

The company has no employees other than the directors.

4. Intangible assets

	£
Cost
At 1 October 2023 and 30 September 2024	340,000
	---------
Amortisation
At 1 October 2023 and 30 September 2024	340,000
	---------
Carrying amount
At 30 September 2024	–
	---------
At 30 September 2023	–
	---------

5. Tangible assets

	Land and buildings	Plant and machinery	Total
	£	£	£
Cost
At 1 October 2023 and 30 September 2024	3,661,025	27,741	3,688,766
	------------	--------	------------
Depreciation
At 1 October 2023	732,210	23,911	756,121
Charge for the year	73,221	1,610	74,831
	------------	--------	------------
At 30 September 2024	805,431	25,521	830,952
	------------	--------	------------
Carrying amount
At 30 September 2024	2,855,594	2,220	2,857,814
	------------	--------	------------
At 30 September 2023	2,928,815	3,830	2,932,645
	------------	--------	------------

Certain borrowings of Ducales Capital Limited from its shareholders, amounting to £3,720,248 at 30 September 2024 (2023: £3,720,248), have been secured on the assets of the company and by unlimited inter-company cross guarantees.

6. Summary audit opinion

The auditor's report dated 13 December 2024 was unqualified .

The senior statutory auditor was Michael Flannigan , for and on behalf of FEB Chartered Accountants .

7. Related party transactions

Advantage has been taken of the exemption not to disclose related party transactions that are part of the group, provided that any subsidiary involved is wholly owned.

8. Controlling party

The company's immediate holding company is Ducales Trading No.1 Limited, a company incorporated in Northern Ireland. This company does not prepare consolidated financial statements. The company's ultimate holding company is Ducales Capital Limited, a company incorporated in Northern Ireland. Group financial statements for this company are available to the public from Companies House, Second Floor, The Linenhall, 32-38 Linenhall Street, Belfast, BT2 8BG. The ultimate controlling parties are the shareholders of Ducales Capital Limited.