Ducales Asset No.1 Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI619033

Ducales Asset No.1 Limited

Filleted Abridged Financial Statements

30 September 2025

Ducales Asset No.1 Limited

Abridged Statement of Financial Position

30 September 2025

	2025	2024
Note	£	£

Fixed assets

Tangible fixed assets	5	4,117,140	4,114,377

Current assets

Stocks	11,183	22,104
Debtors	167,982	263,589
Cash at bank and in hand	394,853	336,967
	---------	---------
	574,018	622,660

Creditors: amounts falling due within one year	( 1,657,236)	( 1,826,624)
	------------	------------
Net current liabilities	( 1,083,218)	( 1,203,964)
	------------	------------
Total assets less current liabilities	3,033,922	2,910,413

Provisions

Deferred tax	( 484,558)	( 450,423)
	------------	------------
Net assets	2,549,364	2,459,990
	------------	------------

Capital and reserves

Called up share capital	2	2
Profit and loss account	2,549,362	2,459,988
	------------	------------
Shareholders' funds	2,549,364	2,459,990
	------------	------------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of abridged financial statements.

All of the members have consented to the preparation of abridged financial statements for the year ending 30 September 2025 in accordance with Section 444(2A) of the Companies Act 2006.

Ducales Asset No.1 Limited

Abridged Statement of Financial Position (continued)

30 September 2025

These abridged financial statements were approved by the board of directors and authorised for issue on 18 December 2025 , and are signed on behalf of the board by:

T J Jennings CBE
Director

Company registration number: NI619033

Ducales Asset No.1 Limited

Accounting Policies

Year ended 30 September 2025

Basis of preparation

The financial statements have been prepared on the going concern basis, under the historical cost convention and in accordance with the Companies Act 2006 and applicable United Kingdom accounting standards. The financial statements are prepared in sterling, which is the functional currency of the company. The principal accounting policies adopted are set out below.

Cash flow statement

The company is a wholly owned subsidiary company of a group headed by Ducales Capital Limited, and is included in the consolidated financial statements of that company, which are publicly available. Consequently, the company has taken advantage of the exemption within FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' from preparing a cash flow statement.

Purchased goodwill

Purchased goodwill acquired on the acquisition of a business is stated at cost less amortisation.

The carrying value of goodwill is reviewed for impairment if events or changes in circumstances indicate the carrying value may not be recoverable.

Amortisation is calculated so as to write off the cost of goodwill, less its estimated residual value, over its useful economic life - 10% straight line.

Revenue recognition

Turnover represents hotel income receivable during the period, exclusive of value added tax. Turnover is recognised at the point at which the services are provided.

Deferred tax

Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.

Tangible assets

Tangible fixed assets are stated at cost less accumulated depreciation. The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	2% straight line
Plant & machinery	-	20% straight line
Fixtures and fittings	-	20% straight line
Equipment	-	20% straight line

Inventories

Stocks of consumables are stated at the lower of cost and net realisable value.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Ducales Asset No.1 Limited

Notes to the Abridged Financial Statements

Year ended 30 September 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 16 Talbot Street, Saint Anne's Square, Belfast, BT1 2NF.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

3. Employee information

The average number of persons employed by the company during the year in addition to the directors was 62 (2024: 57).

4. Intangible fixed assets

	£
Cost
At 1 October 2024 and 30 September 2025	650,000
	---------
Amortisation
At 1 October 2024 and 30 September 2025	650,000
	---------
Carrying amount
At 30 September 2025	–
	---------
At 30 September 2024	–
	---------

5. Tangible fixed assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£	£
Cost
At 1 October 2024	5,124,818	936,120	617,826	132,041	6,810,805
Additions	–	–	52,830	78,506	131,336
	------------	---------	---------	---------	------------
At 30 September 2025	5,124,818	936,120	670,656	210,547	6,942,141
	------------	---------	---------	---------	------------
Depreciation
At 1 October 2024	1,124,050	878,521	574,656	119,201	2,696,428
Charge for the year	102,493	14,399	–	11,681	128,573
	------------	---------	---------	---------	------------
At 30 September 2025	1,226,543	892,920	574,656	130,882	2,825,001
	------------	---------	---------	---------	------------
Carrying amount
At 30 September 2025	3,898,275	43,200	96,000	79,665	4,117,140
	------------	---------	---------	---------	------------
At 30 September 2024	4,000,768	57,599	43,170	12,840	4,114,377
	------------	---------	---------	---------	------------

Certain borrowings of Ducales Capital Limited from its shareholders, amounting to £3,720,248 at 30 September 2025 (2024: £3,720,248), have been secured on the assets of the company and by unlimited inter-company cross guarantees.

6. Summary audit opinion

The auditor's report dated 18 December 2025 was unqualified .

The senior statutory auditor was Michael Flannigan , for and on behalf of FEB Chartered Accountants .

7. Related party transactions

Advantage has been taken of the exemption not to disclose related party transactions that are part of the group, provided that any subsidiary involved is wholly owned.

8. Controlling party

The company's immediate holding company is Ducales Trading No.1 Limited, a company incorporated in Northern Ireland. This company does not prepare consolidated financial statements. The company's ultimate holding company is Ducales Capital Limited, a company incorporated in Northern Ireland. Group financial statements for this company are available to the public from Companies House, Second Floor, The Linenhall, 32-38 Linenhall Street, Belfast, BT2 8BG. The ultimate controlling parties are the shareholders of Ducales Capital Limited.