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Registration number: SC412058

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Duplex Innovations Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Duplex Innovations Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 6

 

Duplex Innovations Ltd

Company Information

Directors

Gordon Dingwall Innes

Jacqueline Susan Innes

Registered office

Orchardlea
196 Main Street
Callander
Perthshire
FK17 8BG

Bankers

Bank of Scotland
PO Box 1000
BX2 1LB

Accountants

RGA Scotland Limited Chartered Accountants
Orchardlea
Callander
FK17 8BG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Duplex Innovations Ltd
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Duplex Innovations Ltd for the year ended 31 March 2025 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.
 

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

This is in accordance with the requirements of the ACCA and, to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Duplex Innovations Ltd and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that Duplex Innovations Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Duplex Innovations Ltd. You consider that Duplex Innovations Ltd 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 Duplex Innovations Ltd. 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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....................................................................

RGA Scotland Limited
Chartered Accountants
Orchardlea
Callander
FK17 8BG


 

26 June 2025

 

Duplex Innovations Ltd

(Registration number: SC412058)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

344

344

Current assets

 

Debtors

5

-

3,057

Cash at bank and in hand

 

306

29

 

306

3,086

Creditors: Amounts falling due within one year

6

(20,594)

(13,454)

Net current liabilities

 

(20,288)

(10,368)

Total assets less current liabilities

 

(19,944)

(10,024)

Creditors: Amounts falling due after more than one year

6

(947)

(6,627)

Net liabilities

 

(20,891)

(16,651)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(20,991)

(16,751)

Shareholders' deficit

 

(20,891)

(16,651)

For the financial year ending 31 March 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.

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 26 June 2025 and signed on its behalf by:
 

.........................................
Gordon Dingwall Innes
Director

 

Duplex Innovations Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

1

General information

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

The address of its registered office is:
Orchardlea
196 Main Street
Callander
Perthshire
FK17 8BG

These financial statements were authorised for issue by the Board on 26 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 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 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.

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.

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.

 

Duplex Innovations Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

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.

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

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

344

344

At 31 March 2025

344

344

Depreciation

Carrying amount

At 31 March 2025

344

344

At 31 March 2024

344

344

 

Duplex Innovations Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

5

Debtors

Current

2025
£

2024
£

Prepayments

-

3,057

 

-

3,057

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

18,994

11,894

Taxation and social security

 

-

(40)

Accruals and deferred income

 

1,600

1,600

 

20,594

13,454

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

947

6,627

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

947

6,627

Current loans and borrowings

2025
£

2024
£

Bank borrowings

5,680

5,680

Director current account

13,314

6,214

18,994

11,894