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Company Registration No.01113477 (England and Wales)





DUNDENES LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024



































Riordan O'Sullivan & Co
Chartered Certified Accountants and Statutory Auditors
40 Chamberlayne Road
London
NW10 3JE

 
DUNDENES LIMITED
 
 
COMPANY INFORMATION


Directors
Bernadette McGovern 
Tara Ghosh 




Company secretary
Bernadette McGovern



Registered number
01113477



Registered office
Second Floor, 184 Shepherds Bush Road

London

United Kingdom

W6 7NL




Independent auditors
Riordan O'Sullivan & Co
Chartered Certified Accountants and Statutory Auditors

40 Chamberlayne Road

London

NW10 3JE




Bankers
Metro Bank Plc
One Southampton Row

London

WC1B 5HA




Solicitors
Prince Evans Solicitors LLP
Craven House

40-44 Uxbridge Road

Ealing

London

W5 2BS





 
DUNDENES LIMITED
 

CONTENTS



Page
Balance Sheet
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 7


 
DUNDENES LIMITED
REGISTERED NUMBER:01113477

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
100
100

Investment property
 6 
25,493,119
25,930,620

  
25,493,219
25,930,720

Current assets
  

Debtors
 7 
8,955,258
8,846,436

Current asset investments
 8 
-
35,000

Cash at bank and in hand
  
2,669,636
477,797

  
11,624,894
9,359,233

Creditors: amounts falling due within one year
 9 
(635,892)
(308,748)

Net current assets
  
 
 
10,989,002
 
 
9,050,485

Total assets less current liabilities
  
36,482,221
34,981,205

Provisions for liabilities
  

Deferred tax
 10 
(4,640,933)
(4,716,794)

  
 
 
(4,640,933)
 
 
(4,716,794)

Net assets
  
31,841,288
30,264,411


Capital and reserves
  

Called up share capital 
 11 
251
251

Revaluation reserve
  
13,581,099
13,808,681

Profit and loss account
  
18,259,938
16,455,479

  
31,841,288
30,264,411


Page 1

 
DUNDENES LIMITED
REGISTERED NUMBER:01113477
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 June 2025.




___________________________
Tara Ghosh
Director

Page 2

 
DUNDENES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Dundenes Limited is a private company limited by shares incorporated in England and Wales. The registered office is Second Floor, 184 Shepherds Bush Road, London, United Kingdom, W6 7NL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company.
The company is entitled to the exemption under Section 400 of the Companies Act 2006 from the obligation to prepare group accounts.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents the total invoice value of rent receivable during the year.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

The company operates a defined contribution plan for its employees. Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Amounts not paid are shown in creditors as a liability in the balance sheet.

 
2.5

Current and deferred taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Page 3

 
DUNDENES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Investment property

Investment properties, which are properties held to earn rentals and/or for capital appreciation, are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently they are measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Loan debtors

Loans receivable are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.


3.


Auditor's remuneration

2024
2023
£
£



Fees payable for audit services
7,500
6,500


4.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 4).


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
100



At 31 December 2024
100

Page 4

 
DUNDENES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 January 2024
25,930,620


Disposals
(437,501)



At 31 December 2024
25,493,119

At the balance sheet date, the directors consider the carrying amounts of the investment properties to be approximate to their fair value.





7.


Debtors

2024
2023
£
£

Trade debtors
87,509
60,952

Amounts owed by related undertakings
8,750,000
8,780,028

Other debtors
111,955
-

Prepayments
5,794
5,456

8,955,258
8,846,436


The amounts owed by related undertakings are unsecured, interest-free and repayable on demand.
Included within other debtors is an amount of £104,000 (2023 - £Nil) due from a director. 


8.


Current asset investments

2024
2023
£
£

Classic commercial vehicles
-
35,000


Page 5

 
DUNDENES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
7,956
2,182

Amounts owed to group undertakings
1,000
100

Corporation tax
415,136
107,726

Other taxation and social security
-
9,101

Other creditors
97,808
92,397

Accruals and deferred income
113,992
97,242

635,892
308,748


The amounts owed to group undertakings are unsecured, interest-free and payable on demand.


10.


Deferred taxation




2024
2023


£

£



At beginning of year
4,716,794
4,716,794


Reversal of deferred tax on disposal of investment property
(75,861)
-



At end of year
4,640,933
4,716,794

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluation of investment properties
4,640,933
4,716,794


11.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



251 Ordinary shares shares of £1 each
251
251


Page 6

 
DUNDENES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Revaluation reserve

2024
2023
£
£


At the beginning of the year
13,808,681
13,808,681

Disposal of investment property
(303,443)
-

Reversal of deferred tax on disposal of investment property
75,861
-

At the end of year
13,581,099
13,808,681


13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,482 (2023 - £2,604). Contributions totalling £69 (2023 - £373) were payable to the fund at the balance sheet date and are included in creditors.


14.


Related party transactions

During the year the company advanced sums amounting to £150,000 to directors on aggregate which was the maximum outstanding in the year. The loan is unsecured, interest-free and repayable on demand.


15.


Post balance sheet events

There were no events since the year end which materially affected the company.


16.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 25 June 2025 by Kumar Perumal (Senior Statutory Auditor) on behalf of Riordan O'Sullivan & Co.

 
Page 7