Durell Holdings Limited 13719353 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is rental of investment properties. Digita Accounts Production Advanced 6.30.9574.0 true true false false false 13719353 2023-10-01 2024-09-30 13719353 2024-09-30 13719353 bus:Director2 2024-09-30 13719353 bus:Director4 2024-09-30 13719353 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-09-30 13719353 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2024-09-30 13719353 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2024-09-30 13719353 bus:OrdinaryShareClass4 bus:Non-cumulativeShares 2024-09-30 13719353 bus:PreferenceShareClass1 bus:Non-cumulativeShares 2024-09-30 13719353 core:RetainedEarningsAccumulatedLosses 2024-09-30 13719353 core:RevaluationReserve 2024-09-30 13719353 core:ShareCapital 2024-09-30 13719353 core:CurrentFinancialInstruments 2024-09-30 13719353 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 13719353 core:LandBuildings 2024-09-30 13719353 bus:FRS102 2023-10-01 2024-09-30 13719353 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 13719353 bus:FullAccounts 2023-10-01 2024-09-30 13719353 bus:RegisteredOffice 2023-10-01 2024-09-30 13719353 bus:CompanySecretaryDirector2 2023-10-01 2024-09-30 13719353 bus:Director2 2023-10-01 2024-09-30 13719353 bus:Director3 2023-10-01 2024-09-30 13719353 bus:Director4 2023-10-01 2024-09-30 13719353 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-10-01 2024-09-30 13719353 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2023-10-01 2024-09-30 13719353 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2023-10-01 2024-09-30 13719353 bus:OrdinaryShareClass4 bus:Non-cumulativeShares 2023-10-01 2024-09-30 13719353 bus:PreferenceShareClass1 bus:Non-cumulativeShares 2023-10-01 2024-09-30 13719353 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 13719353 bus:Agent1 2023-10-01 2024-09-30 13719353 2 2023-10-01 2024-09-30 13719353 core:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 13719353 core:RevaluationReserve 2023-10-01 2024-09-30 13719353 core:ShareCapital 2023-10-01 2024-09-30 13719353 core:LandBuildings 2023-10-01 2024-09-30 13719353 core:Subsidiary1 2023-10-01 2024-09-30 13719353 core:Subsidiary1 1 2023-10-01 2024-09-30 13719353 core:Subsidiary1 countries:England 2023-10-01 2024-09-30 13719353 core:UKTax 2023-10-01 2024-09-30 13719353 1 2023-10-01 2024-09-30 13719353 countries:England 2023-10-01 2024-09-30 13719353 2023-09-30 13719353 core:RetainedEarningsAccumulatedLosses 2023-09-30 13719353 core:RevaluationReserve 2023-09-30 13719353 core:ShareCapital 2023-09-30 13719353 core:CostValuation 2023-09-30 13719353 core:LandBuildings 2023-09-30 13719353 2022-12-01 2023-09-30 13719353 2023-09-30 13719353 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-09-30 13719353 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2023-09-30 13719353 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2023-09-30 13719353 bus:OrdinaryShareClass4 bus:Non-cumulativeShares 2023-09-30 13719353 bus:PreferenceShareClass1 bus:Non-cumulativeShares 2023-09-30 13719353 core:CurrentFinancialInstruments 2023-09-30 13719353 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 13719353 core:LandBuildings 2023-09-30 13719353 2 2022-12-01 2023-09-30 13719353 core:RetainedEarningsAccumulatedLosses 2022-12-01 2023-09-30 13719353 core:ShareCapital 2022-12-01 2023-09-30 13719353 core:Subsidiary1 1 2022-12-01 2023-09-30 13719353 core:UKTax 2022-12-01 2023-09-30 13719353 2022-11-30 13719353 core:RetainedEarningsAccumulatedLosses 2022-11-30 13719353 core:ShareCapital 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13719353

Durell Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Durell Holdings Limited

Contents

Company Information

1

Strategic Report

2

Directors' Report

3

Accountants' Report

4

Profit and Loss Account

5

Statement of Comprehensive Income

6

Balance Sheet

7 to 8

Statement of Changes in Equity

9

Statement of Cash Flows

10

Notes to the Unaudited Financial Statements

11 to 16

 

Durell Holdings Limited

Company Information

Directors

Sarah Evans

Stuart Durell

Mrs Barbara Durell

Company secretary

Sarah Evans

Registered office

Unit 3-4 Burnet Road
Darent Industrial Park
Erith
Dartford
Kent
DA8 2JZ

Accountants

Brooks Green
Chartered AccountantsAbbey House
342 Regents Park Road
London
N3 2LJ

 

Durell Holdings Limited

Strategic Report for the Year Ended 30 September 2024

The directors present their strategic report for the year ended 30 September 2024.

Principal activity

The principal activity of the company is rental of investment properties.

Fair review of the business

The company sold a trading property during the year and continued to rent the other properties.

Principal risks and uncertainties

The principle risk to the business is that tennants may leave and not be quickly replaced. All tennants are long term the properties are well kept in desirable locations.

Approved and authorised by the Board on 23 June 2025 and signed on its behalf by:
 

.........................................
Sarah Evans
Company secretary and director

.........................................
Stuart Durell
Director

.........................................
Mrs Barbara Durell
Director

 

Durell Holdings Limited

Directors' Report for the Year Ended 30 September 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors of the company

The directors who held office during the year were as follows:

Sarah Evans - Company secretary and director

Mr Royston Thomas Durell (ceased 9 November 2023)

Stuart Durell

Mrs Barbara Durell (appointed 9 October 2023)

Financial instruments

Objectives and policies

The directors aim to manage financial risk.
Now that the company has sold a trading property, the directors intent to continue to rent commercial investment properties.

Price risk, credit risk, liquidity risk and cash flow risk

The directors are happy that the risk is very low.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved and authorised by the Board on 23 June 2025 and signed on its behalf by:
 

.........................................
Sarah Evans
Company secretary and director

.........................................
Stuart Durell
Director

.........................................
Mrs Barbara Durell
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Durell Holdings Limited
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Durell Holdings Limited for the year ended 30 September 2024 as set out on pages 5 to 16 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Durell Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Durell Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Durell Holdings 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 Durell Holdings Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Durell Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Durell Holdings Limited. You consider that Durell Holdings 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 accounts of Durell Holdings 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 accounts.

......................................

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

23 June 2025

 

Durell Holdings Limited

Profit and Loss Account for the Year Ended 30 September 2024

Note

2024
£

2023
£

Turnover

3

464,629

464,641

Gross profit

 

464,629

464,641

Administrative expenses

 

13,224,406

(115,727)

Operating profit

5

13,689,035

348,914

Income from shares in group undertakings

 

-

4,319,029

Profit before tax

 

13,689,035

4,667,943

Tax on profit

8

(2,773,322)

-

Profit for the financial year

 

10,915,713

4,667,943

The above results were derived from continuing operations.

 

Durell Holdings Limited

Statement of Comprehensive Income for the Year Ended 30 September 2024

2024
£

2023
£

Profit for the year

10,915,713

4,667,943

Deficit on property, plant and equipment revaluation

(2,124,389)

-

Total comprehensive income for the year

8,791,324

4,667,943

 

Durell Holdings Limited

(Registration number: 13719353)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

9

1,580,000

4,319,029

Investments

10

1,536,131

1,536,131

 

3,116,131

5,855,160

Current assets

 

Debtors

11

9,411,537

427,914

Cash at bank and in hand

 

5,285,420

50,000

 

14,696,957

477,914

Creditors: Amounts falling due within one year

13

(2,817,690)

(129,000)

Net current assets

 

11,879,267

348,914

Net assets

 

14,995,398

6,204,074

Capital and reserves

 

Called up share capital

1,536,131

1,536,131

Revaluation reserve

(2,124,389)

-

Retained earnings

15,583,656

4,667,943

Shareholders' funds

 

14,995,398

6,204,074

For the financial year ending 30 September 2024 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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 23 June 2025 and signed on its behalf by:
 

.........................................
Sarah Evans
Company secretary and director

 

Durell Holdings Limited

(Registration number: 13719353)
Balance Sheet as at 30 September 2024

.........................................
Stuart Durell
Director

.........................................
Mrs Barbara Durell
Director

 

Durell Holdings Limited

Statement of Changes in Equity for the Year Ended 30 September 2024

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 October 2023

1,536,131

-

4,667,943

6,204,074

Profit for the year

-

-

10,915,713

10,915,713

Other comprehensive income

-

(2,124,389)

-

(2,124,389)

Total comprehensive income

-

(2,124,389)

10,915,713

8,791,324

At 30 September 2024

1,536,131

(2,124,389)

15,583,656

14,995,398

Share capital
£

Retained earnings
£

Total
£

At 1 December 2022

1,536,131

-

1,536,131

Profit for the year

-

4,667,943

4,667,943

At 30 September 2023

1,536,131

4,667,943

6,204,074

 

Durell Holdings Limited

Statement of Cash Flows for the Year Ended 30 September 2024

Note

2024
£

2023
£

Cash flows from operating activities

Profit for the year

 

10,915,713

4,667,943

Adjustments to cash flows from non-cash items

 

Profit on disposal of tangible assets

4

(13,385,360)

-

Finance income

6

-

(4,319,029)

Income tax expense

8

2,773,322

-

 

303,675

348,914

Working capital adjustments

 

Increase in trade debtors

11

(8,983,623)

(427,914)

(Decrease)/increase in trade creditors

13

(84,632)

129,000

Net cash flow from operating activities

 

(8,764,580)

50,000

Cash flows from investing activities

 

Interest received

6

-

4,319,029

Acquisitions of tangible assets

-

(4,319,029)

Proceeds from sale of tangible assets

 

14,000,000

-

Net cash flows from investing activities

 

14,000,000

-

Net increase in cash and cash equivalents

 

5,235,420

50,000

Cash and cash equivalents at 1 October

 

50,000

-

Cash and cash equivalents at 30 September

 

5,285,420

50,000

 

Durell Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
Unit 3-4 Burnet Road
Darent Industrial Park
Erith
Dartford
Kent
DA8 2JZ

These financial statements were authorised for issue by the Board on 23 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 financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These 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.

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.

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.

 

Durell Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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:

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

 

Durell Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Turnover

The analysis of the company's turnover for the year from continuing operations is as follows:

2024
£

2023
£

Rental income from investment property

433,979

464,641

Interest received

30,650

-

464,629

464,641

4

Other gains and losses

The analysis of the company's other gains and losses for the year is as follows:

2024
£

2023
£

Gain on disposal of tangible assets

13,385,360

-

5

Operating profit

Arrived at after charging/(crediting)

2024
£

2023
£

Profit on disposal of property, plant and equipment

(13,385,360)

-

6

Other interest receivable and similar income

2024
£

2023
£

7

Staff costs

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

 

Durell Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2024
No.

2023
No.

Administration and support

3

3

3

3

8

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

2,773,322

-

9

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 October 2023

4,319,029

4,319,029

Disposals

(2,739,029)

(2,739,029)

At 30 September 2024

1,580,000

1,580,000

Depreciation

Carrying amount

At 30 September 2024

1,580,000

1,580,000

At 30 September 2023

4,319,029

4,319,029

Included within the net book value of land and buildings above is £1,580,000 (2023 - £4,319,029) in respect of freehold land and buildings.
 

10

Investments

2024
£

2023
£

Investments in subsidiaries

1,536,131

1,536,131

 

Durell Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Subsidiaries

£

Cost or valuation

At 1 October 2023

1,536,131

Provision

Carrying amount

At 30 September 2024

1,536,131

At 30 September 2023

1,536,131

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Fuel Oils (Holdings) Limited

3-4 Burnet Road
Darent industrial Estate
Erith
Dartford
DA8 2JZ

England

Ordinary A

100%

100%

Subsidiary undertakings

Fuel Oils (Holdings) Limited

The principal activity of Fuel Oils (Holdings) Limited is the supply of fuel oils.

11

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

1,660,366

427,914

Other debtors

 

7,751,171

-

   

9,411,537

427,914

12

Cash and cash equivalents

2024
£

2023
£

Cash at bank

5,285,420

50,000

 

Durell Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

13

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

35,368

-

Other payables

 

9,000

129,000

Income tax liability

8

2,773,322

-

 

2,817,690

129,000

14

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

2,254

2,254

2,254

2,254

Ordinary B of £1 each

10,000

10,000

10,000

10,000

Ordinary C of £1 each

790,000

790,000

790,000

790,000

Ordinary D of £1 each

680,000

680,000

680,000

680,000

Preference of £1 each

53,877

53,877

53,877

53,877

1,536,131

1,536,131

1,536,131

1,536,131

15

Parent and ultimate parent undertaking

The company is owed £7,751,171 by the parent company at the year end.

 The company's immediate parent is Fuel Oils Enterprises Limited, incorporated in England.