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COMPANY REGISTRATION NUMBER: NI619043
Ducales Trading No.2 Limited
Filleted Abridged Financial Statements
30 September 2024
Ducales Trading No.2 Limited
Abridged Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
Current assets
Cash at bank and in hand
3,143
3,260
Creditors: amounts falling due within one year
( 7,777,626)
( 7,777,626)
------------
------------
Net current liabilities
( 7,774,483)
( 7,774,366)
------------
------------
Total assets less current liabilities
( 7,774,483)
( 7,774,366)
------------
------------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 7,774,485)
( 7,774,368)
------------
------------
Shareholders' deficit
( 7,774,483)
( 7,774,366)
------------
------------
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: NI619043
Ducales Trading No.2 Limited
Accounting Policies
Year ended 30 September 2024
Basis of preparation
The abridged financial statements have been prepared on the going concern basis under the historical cost convention. The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These abridged financial statements have been prepared on a going concern basis as the company has received assurances from its parent undertaking that it will continue to provide financial support to the company for a period of at least 12 months from the date these abridged financial statements were signed.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Deferred tax assets are recognised to the extent that they are regarded as recoverable. Deferred tax assets are regarded as recoverable to the extent that, on the basis of all available evidence, it can be be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax assets and liabilities recognised have not been discounted.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company 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 balance sheet and the amount of the provision as an expense.
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.
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.
Ducales Trading No.2 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 information
The company has no employees other than the directors.
4. Unlisted investments
£
Cost
At 1 October 2023 and 30 September 2024
3,693,868
------------
Impairment
At 1 October 2023 and 30 September 2024
3,693,868
------------
Carrying amount
5. 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 .
6. Related party transactions
Advantage has been taken of the exemption not to disclose transactions with entities that are part of the group, provided that any subsidiary involved is wholly owned.
7. Controlling party
The company's immediate and 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.