Company registration number 10911299 (England and Wales)
JOHN DUNCAN LETTINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
JOHN DUNCAN LETTINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
JOHN DUNCAN LETTINGS LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
5,166
Investment property
4
625,000
360,470
625,000
365,636
Current assets
Debtors
5
-
0
8,500
Cash at bank and in hand
85
26
85
8,526
Creditors: amounts falling due within one year
6
(166,946)
(164,196)
Net current liabilities
(166,861)
(155,670)
Total assets less current liabilities
458,139
209,966
Creditors: amounts falling due after more than one year
7
(202,805)
(207,149)
Provisions for liabilities
(64,421)
(1,292)
Net assets
190,913
1,525
Capital and reserves
Called up share capital
8
100
100
Non-distributable profits reserve
9
200,109
-
0
Distributable profit and loss reserves
(9,296)
1,425
Total equity
190,913
1,525
JOHN DUNCAN LETTINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2025
31 August 2025
- 2 -

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question 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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 May 2026 and are signed on its behalf by:
S J Kennedy
Director
Company registration number 10911299 (England and Wales)
JOHN DUNCAN LETTINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 3 -
1
Accounting policies
Company information

John Duncan Lettings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 20 Mosedale Drive, Burnley, BB12 8UJ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is reliant upon the financial support of its directors in order to meet its liabilities as they fall due. The directors have indicated that this support will continue for the foreseeable future and, as a result, have continued to adopt the going concern basis in preparing the financial statements.true

1.3
Revenue

Revenue represents amounts receivable for the letting of investment property, net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% Straight line
Fixtures and fittings
33% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents 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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

JOHN DUNCAN LETTINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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.

JOHN DUNCAN LETTINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2024
26,208
Disposals
(26,208)
At 31 August 2025
-
0
Depreciation and impairment
At 1 September 2024
21,042
Depreciation charged in the year
5,166
Eliminated in respect of disposals
(26,208)
At 31 August 2025
-
0
Carrying amount
At 31 August 2025
-
0
At 31 August 2024
5,166
4
Investment property
2025
£
Fair value
At 1 September 2024
360,470
Revaluations
264,530
At 31 August 2025
625,000

The investment property has been revalued by the company directors.

JOHN DUNCAN LETTINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
4
Investment property
(Continued)
- 6 -
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2025
2024
£
£
Cost
360,470
360,470
Accumulated depreciation
-
-
Carrying amount
360,470
360,470
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
8,500
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
4,615
6,218
Taxation and social security
1,020
2,509
Other creditors
161,311
155,469
166,946
164,196

The company's bank borrowings are secured by a fixed and floating charge over the assets of the company.

Other creditors includes an amount of £155,738 (202 4 - £1 51,391) owed to a company director.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
202,805
207,149
Creditors which fall due after five years are payable as follows:
Payable by instalments
176,206
182,152
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
JOHN DUNCAN LETTINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 7 -
9
Non-distributable profits reserve
2025
2024
£
£
At the beginning of the year
-
-
Non distributable profits in the year
200,109
-
At the end of the year
200,109
-
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