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REGISTERED NUMBER: 10857780 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Duo Properties Limited

Duo Properties Limited (Registered number: 10857780)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Duo Properties Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: A Warsop
Miss S Antcliff





REGISTERED OFFICE: 4 Yorke Street
Hucknall
Nottingham
NG15 7BT





REGISTERED NUMBER: 10857780 (England and Wales)





ACCOUNTANTS: Smith Cookson
Chartered Accountants
4 Yorke Street
Hucknall
Nottinghamshire
NG15 7BT

Duo Properties Limited (Registered number: 10857780)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Investments 4 182,031 182,031
Investment property 5 1,480,000 1,560,114
1,662,031 1,742,145

CURRENT ASSETS
Debtors 6 234,975 260,822
Cash at bank 2,010 2,701
236,985 263,523
CREDITORS
Amounts falling due within one year 7 808,341 889,884
NET CURRENT LIABILITIES (571,356 ) (626,361 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,090,675

1,115,784

CREDITORS
Amounts falling due after more than one
year

8

(929,529

)

(955,598

)

PROVISIONS FOR LIABILITIES 10 (54,307 ) (54,307 )
NET ASSETS 106,839 105,879

CAPITAL AND RESERVES
Called up share capital 11 1 1
Non-Distributable reserve 12 231,520 231,520
Retained earnings 12 (124,682 ) (125,642 )
SHAREHOLDERS' FUNDS 106,839 105,879

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Duo Properties Limited (Registered number: 10857780)

Balance Sheet - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by:





Miss S Antcliff - Director


Duo Properties Limited (Registered number: 10857780)

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

1. STATUTORY INFORMATION

Duo Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Duo Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Duo Properties Limited (Registered number: 10857780)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 182,031
NET BOOK VALUE
At 30 September 2024 182,031
At 30 September 2023 182,031

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 1,560,114
Disposals (80,114 )
At 30 September 2024 1,480,000
NET BOOK VALUE
At 30 September 2024 1,480,000
At 30 September 2023 1,560,114

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2018 55,000
Valuation in 2019 59,178
Valuation in 2020 15,861
Valuation in 2021 52,160
Valuation in 2022 (1,371 )
Valuation in 2023 55,000
Valuation in 2023 50,000
Cost 1,194,172
1,480,000

If Investment property had not been revalued it would have been included at the following historical cost:

30.9.24 30.9.23
£    £   
Cost 1,194,172 1,274,286

Investment property was valued on an open market basis on 30 September 2024 by the Directors .

Duo Properties Limited (Registered number: 10857780)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. DEBTORS
30.9.24 30.9.23
£    £   
Amounts falling due within one year:
Trade debtors - 106
Amounts owed by group undertakings 28,200 28,200
Other debtors 504 449
28,704 28,755

Amounts falling due after more than one year:
Amounts owed by group undertakings 206,271 232,067

Aggregate amounts 234,975 260,822

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 33,500 33,500
Loan from Logo International Limited 150,358 224,886
Trade creditors 267 8,759
Directors' current accounts 622,313 620,813
Accruals and deferred income 1,903 1,926
808,341 889,884

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans - 1-2 years 33,500 33,500
Bank loans to be repaid
between 2 & 5 years by
instalments 94,865 102,194
Bank loans to be repaid after
5 years by instalments 801,164 816,904
Other loan - 3,000
929,529 955,598

Amounts falling due in more than five years:

Repayable by instalments
Bank loans to be repaid after
5 years by instalments 801,164 816,904
801,164 816,904

Duo Properties Limited (Registered number: 10857780)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Mortgage 963,030 986,097

The mortgage is secured on the Company's properties. But £234,471.32 of this is secured on properties in the subsidiary company.

10. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 54,307 54,307

Deferred
tax
£   
Balance at 1 October 2023 54,307
Balance at 30 September 2024 54,307

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
2 Ordinary 50p 1 1

12. RESERVES
Retained Non-Distributable
earnings reserve Totals
£    £    £   

At 1 October 2023 (125,642 ) 231,520 105,878
Profit for the year 960 960
At 30 September 2024 (124,682 ) 231,520 106,838

13. RELATED PARTY DISCLOSURES

The loan in the balance sheet of £150,358.42 is owed to Logo International Limited, a company which is controlled by the Directors of Duo Properties lImited