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Registration number: 03888903

Duke Austin & Company Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 January 2025

 

Duke Austin & Company Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Duke Austin & Company Ltd

Company Information

Directors

Mr W Austin

Mrs L Austin

Mrs M R Goodwin

Company secretary

Mrs M R Goodwin

Registered office

The Observatory
Frith Common
Tenbury Wells
Worcestershire
WR15 8JX

Accountants

Perrigo Consultants Limited Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

 

Duke Austin & Company Ltd

(Registration number: 03888903)
Abridged Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

43,059

55,355

Current assets

 

Debtors

5

186,222

160,731

Cash at bank and in hand

 

63,499

42,659

 

249,721

203,390

Prepayments and accrued income

 

1,668

1,732

Creditors: Amounts falling due within one year

(166,920)

(128,774)

Net current assets

 

84,469

76,348

Total assets less current liabilities

 

127,528

131,703

Creditors: Amounts falling due after more than one year

(24,512)

(29,388)

Accruals and deferred income

 

(3,702)

(6,092)

Net assets

 

99,314

96,223

Capital and reserves

 

Called up share capital

6

1,100

1,100

Retained earnings

98,214

95,123

Shareholders' funds

 

99,314

96,223

 

Duke Austin & Company Ltd

(Registration number: 03888903)
Abridged Balance Sheet as at 31 January 2025

For the financial year ending 31 January 2025 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 June 2025 and signed on its behalf by:
 

.........................................
Mrs M R Goodwin
Company secretary and director

 

Duke Austin & Company Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Observatory
Frith Common
Tenbury Wells
Worcestershire
WR15 8JX

These financial statements were authorised for issue by the Board on 16 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Duke Austin & Company Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and building

5% Straight line

Fixture and fittings

25% Reducing balance

Motor vehicles

25% Reducing balance

Office equipment

33% Straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Duke Austin & Company Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 4).

 

Duke Austin & Company Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Properties under construction
 £

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 February 2024

31,386

9,033

10,611

83,147

Additions

-

-

1,304

-

Disposals

-

(4,835)

(10,611)

-

At 31 January 2025

31,386

4,198

1,304

83,147

Depreciation

At 1 February 2024

21,966

7,166

10,611

39,079

Charge for the year

1,569

375

435

11,017

Eliminated on disposal

-

(4,631)

(10,611)

-

At 31 January 2025

23,535

2,910

435

50,096

Carrying amount

At 31 January 2025

7,851

1,288

869

33,051

At 31 January 2024

9,420

1,867

-

44,068

Total
£

Cost or valuation

At 1 February 2024

134,177

Additions

1,304

Disposals

(15,446)

At 31 January 2025

120,035

Depreciation

At 1 February 2024

78,822

Charge for the year

13,396

Eliminated on disposal

(15,242)

At 31 January 2025

76,976

Carrying amount

At 31 January 2025

43,059

At 31 January 2024

55,355

 

Duke Austin & Company Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

5

Debtors

Debtors includes £Nil (2024 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

B Ordinary of £1 each

100

100

100

100

1,100

1,100

1,100

1,100