Registration number:
Durell Holdings Limited
for the Year Ended 30 September 2024
Durell Holdings Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Unaudited Financial Statements |
Durell Holdings Limited
Company Information
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Directors |
Sarah Evans Stuart Durell Mrs Barbara Durell |
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Company secretary |
Sarah Evans |
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Registered office |
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Accountants |
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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
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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:
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
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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.
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Chartered Accountants
342 Regents Park Road
London
N3 2LJ
Durell Holdings Limited
Profit and Loss Account for the Year Ended 30 September 2024
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Note |
2024 |
2023 |
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Turnover |
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Gross profit |
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Administrative expenses |
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( |
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Operating profit |
13,689,035 |
348,914 |
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Income from shares in group undertakings |
- |
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Profit before tax |
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Tax on profit |
( |
- |
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Profit for the financial year |
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The above results were derived from continuing operations.
Durell Holdings Limited
Statement of Comprehensive Income for the Year Ended 30 September 2024
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2024 |
2023 |
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Profit for the year |
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Deficit on property, plant and equipment revaluation |
( |
- |
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Total comprehensive income for the year |
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Durell Holdings Limited
(Registration number: 13719353)
Balance Sheet as at 30 September 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,536,131 |
1,536,131 |
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Revaluation reserve |
(2,124,389) |
- |
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Retained earnings |
15,583,656 |
4,667,943 |
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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:
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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
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Durell Holdings Limited
(Registration number: 13719353)
Balance Sheet as at 30 September 2024
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Durell Holdings Limited
Statement of Changes in Equity for the Year Ended 30 September 2024
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Share capital |
Revaluation reserve |
Retained earnings |
Total |
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At 1 October 2023 |
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- |
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Profit for the year |
- |
- |
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Other comprehensive income |
- |
( |
- |
( |
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Total comprehensive income |
- |
( |
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At 30 September 2024 |
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( |
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Share capital |
Retained earnings |
Total |
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At 1 December 2022 |
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- |
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Profit for the year |
- |
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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
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Note |
2024 |
2023 |
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Cash flows from operating activities |
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Profit for the year |
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Adjustments to cash flows from non-cash items |
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Profit on disposal of tangible assets |
( |
- |
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Finance income |
- |
( |
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Income tax expense |
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- |
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Working capital adjustments |
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Increase in trade debtors |
( |
( |
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(Decrease)/increase in trade creditors |
( |
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Net cash flow from operating activities |
( |
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Cash flows from investing activities |
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Interest received |
- |
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Acquisitions of tangible assets |
- |
( |
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Proceeds from sale of tangible assets |
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- |
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Net cash flows from investing activities |
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- |
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Net increase in cash and cash equivalents |
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Cash and cash equivalents at 1 October |
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- |
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Cash and cash equivalents at 30 September |
5,285,420 |
50,000 |
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Durell Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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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.
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Turnover |
The analysis of the company's turnover for the year from continuing operations is as follows:
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2024 |
2023 |
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Rental income from investment property |
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Interest received |
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- |
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Other gains and losses |
The analysis of the company's other gains and losses for the year is as follows:
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2024 |
2023 |
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Gain on disposal of tangible assets |
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- |
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Operating profit |
Arrived at after charging/(crediting)
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2024 |
2023 |
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Profit on disposal of property, plant and equipment |
( |
- |
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Other interest receivable and similar income |
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2024 |
2023 |
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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
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2024 |
2023 |
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Administration and support |
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Taxation |
Tax charged/(credited) in the profit and loss account
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2024 |
2023 |
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Current taxation |
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UK corporation tax |
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- |
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Tangible assets |
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Land and buildings |
Total |
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Cost or valuation |
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At 1 October 2023 |
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Disposals |
( |
( |
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At 30 September 2024 |
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Depreciation |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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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.
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Investments |
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2024 |
2023 |
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Investments in subsidiaries |
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Durell Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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Subsidiaries |
£ |
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Cost or valuation |
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At 1 October 2023 |
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Provision |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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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:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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3-4 Burnet Road
England |
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Subsidiary undertakings |
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Fuel Oils (Holdings) Limited The principal activity of Fuel Oils (Holdings) Limited is |
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Debtors |
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Current |
Note |
2024 |
2023 |
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Amounts owed by related parties |
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Other debtors |
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- |
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Cash and cash equivalents |
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2024 |
2023 |
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Cash at bank |
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Durell Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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Creditors |
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Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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- |
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Other payables |
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Income tax liability |
2,773,322 |
- |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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2,254 |
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2,254 |
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10,000 |
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10,000 |
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790,000 |
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790,000 |
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680,000 |
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680,000 |
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53,877 |
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53,877 |
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Parent and ultimate parent undertaking |
The company's immediate parent is