REGISTERED NUMBER: 05941429 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

DUVINE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr M Winter

Mr D S Burrows

Mr K T Sillence

REGISTERED OFFICE:

Unit 1

Belbins Business Park

Cupernham Lane

Romsey

Hampshire

SO51 7JF

BUSINESS ADDRESS:

Unit A8

Sturmer Road

Haverhill

Suffolk

CB9 7UU

REGISTERED NUMBER:

05941429 (England and Wales)

SENIOR STATUTORY AUDITOR:

Graham Taylor

AUDITORS:

Langdowns DFK Limited

Statutory Auditor

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

13,008

12,025

13,008

12,025

CURRENT ASSETS

Stocks

776,102

825,121

Debtors

7

421,649

366,106

Cash at bank

376,637

376,513

1,574,388

1,567,740

CREDITORS

Amounts falling due within one year

8

375,869

406,231

NET CURRENT ASSETS

1,198,519

1,161,509

TOTAL ASSETS LESS CURRENT LIABILITIES

1,211,527

1,173,534

PROVISIONS FOR LIABILITIES

3,252

3,006

NET ASSETS

1,208,275

1,170,528

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

1,208,274

1,170,527

SHAREHOLDERS' FUNDS

1,208,275

1,170,528

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 11 September 2025 and were signed on its behalf by:

Mr D S Burrows - Director

1.	STATUTORY INFORMATION

Duvine 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

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

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill

Negative goodwill is the excess of the fair value of the attributable net identifiable assets at the date of acquisition over the purchase consideration. The portion of negative goodwill exceeding the fair value of acquired identifiable non monetary assets is recognised as income on a systematic basis over the remaining weighted average useful life of the identifiable acquired depreciable or amortisable assets.

The amortisation of negative goodwill has been matched to the fair value of the non monetary assets at acquisition. Negative goodwill resulting from fixed assets is written off over their useful economic life. Negative goodwill arising from stock is written off in the period to which the assets are recovered through sale.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Over the remaining term of the lease

Plant and machinery

-

25% straight line

Fixtures and fittings

-

25% straight line

Computer equipment

-

25% straight line

All fixed assets are initially recorded at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

The company has a policy in place to consider obsolete and slow moving stock. The policy considers the length of time that stock has been inactive, the company then applies a percentage reduction to the value of each stock line that meets the parameters of the policy.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company contributes to defined contribution pension schemes. Contributions payable to the pension schemes are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement in administrative expenses.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2024 - 18 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

(130,058

)

AMORTISATION

At 1 April 2024

and 31 March 2025

(130,058

)

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

When the assets and trade of Duvine Developments Limited/Winter Storms Limited were purchased in 2006 the value of the assets acquired were greater than the purchase consideration therefore generating negative goodwill.

The negative goodwill was then treated in accordance with Accounting Standards. This stated that negative goodwill should first be matched to the fair value of the non monetary assets acquired.The proportion relating to stock was released to the Profit and Loss Account over two years and that relating to fixed assets over three years from the date of purchase.

6.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

5,611

45,634

15,993

62,795

130,033

Additions

-

2,885

-

5,229

8,114

At 31 March 2025

5,611

48,519

15,993

68,024

138,147

DEPRECIATION

At 1 April 2024

2,259

45,031

15,993

54,725

118,008

Charge for year

870

851

-

5,410

7,131

At 31 March 2025

3,129

45,882

15,993

60,135

125,139

NET BOOK VALUE

At 31 March 2025

2,482

2,637

-

7,889

13,008

At 31 March 2024

3,352

603

-

8,070

12,025

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

390,591

312,158

Other debtors

31,058

53,948

421,649

366,106

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

131,292

64,253

Amounts owed to group undertakings

132,896

156,196

Taxation and social security

38,497

104,465

Other creditors

73,184

81,317

375,869

406,231

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

£1

1

1

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Graham Taylor (Senior Statutory Auditor)

for and on behalf of Langdowns DFK Limited

11.	OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £50,000 (2024: 98,000). This amount is in relation to operating lease commitments which are payable over the next year (2024: 2 years).

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies where any subsidiary that is a party to the transaction is wholly owned within the group or where transactions have been undertaken under normal market conditions.