Company No: 08405362 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Investments	3	1,034,193		1,035,000
		1,034,193		1,035,000
Current assets
Debtors	4	90		90
Cash at bank and in hand		8,924		8,865
		9,014		8,955
Creditors: amounts falling due within one year	5	( 855,189)		( 886,393)
Net current liabilities		(846,175)		(877,438)
Total assets less current liabilities		188,018		157,562
Net assets		188,018		157,562
Capital and reserves
Called-up share capital	6	15		15
Profit and loss account		188,003		157,547
Total shareholders' funds		188,018		157,562

For the financial year ending 28 February 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Duchy Enterprises Limited (registered number: 08405362) were approved and authorised for issue by the Board of Directors on 14 October 2025. They were signed on its behalf by:

Mrs K M Ellery Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Duchy Enterprises Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 17 17, Esplanade Road, Newquay, TR7 1QB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable in the activities of open-ended investment companies. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Fixed asset investments

	Loans		Total
	£		£
Cost or valuation before impairment
At 01 March 2024	1,035,000		1,035,000
Disposals	( 807)		( 807)
At 28 February 2025	1,034,193		1,034,193
Carrying value at 28 February 2025	1,034,193		1,034,193
Carrying value at 29 February 2024	1,035,000		1,035,000

4. Debtors

	2025		2024
	£		£
Other debtors	90		90

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Amounts owed to Group undertakings	504,920		422,920
Taxation and social security	9,280		8,007
Other creditors	340,989		455,466
	855,189		886,393

6. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.15 each	15		15

7. Related party transactions

Other related party transactions

	2025		2024
	£		£
Anderson Lloyd International Limited (BVI)	504,920		422,919

At the balance sheet date company owed £504,920 to Anderson Lloyd International Limited (BVI) under common control.