Company registration number: 03655538
Annual report and unaudited financial statements
for the year ended 31 October 2025
for
Duellist Holdings Limited
Pages for filing with the Registrar
Company registration number: 03655538
Duellist Holdings Limited
Balance sheet
as at 31 October 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 4 52,660 55,493
Investments 5 15,252 15,252
67,912 70,745
Current assets
Debtors 24,754,424 23,176,553
Cash at bank and in hand 171,136 107,266
24,925,560 23,283,819
Creditors: amounts falling due within one year
(22,337,328) (21,009,256)
Net current assets 2,588,232 2,274,563
Total assets less current liabilities 2,656,144 2,345,308
NET ASSETS 2,656,144 2,345,308
Capital and reserves
Called up share capital 2 2
Profit and loss account 2,656,142 2,345,306
TOTAL EQUITY 2,656,144 2,345,308
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 October 2025.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 03655538
Duellist Holdings Limited
Balance sheet - continued
as at 31 October 2025
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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 28 October 2026 and signed on its behalf by:
A Taylor, Director
28 October 2026
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Duellist Holdings Limited
Notes to the financial statements
for the year ended 31 October 2025
1 Company information
Duellist Holdings Limited is a private company registered in England and Wales. Its registered number is 03655538. The company is limited by shares. Its registered office is Matrix Studios, 91a Peterborough Road, London, SW6 3BU.
2 Accounting policies
Basis of preparing the financial statements
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. The financial statements have been prepared under the historic cost convention.
Presentation currency
The company’s financial statements are presented in sterling.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company’s ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Exemption from preparation of consolidated financial statements
The financial statements contain information about Duellist Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
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Duellist Holdings Limited
Notes to the financial statements - continued
for the year ended 31 October 2025
2 Accounting policies - continued
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings:
Freehold property - 2% straight line
Plant and machinery etc.:
Freehold property improvements - 20% straight line
Music/studio equipment - 25% straight line
Property improvements - 20% straight line
Aviation equipment - 25% straight line
Office and computer equipment - 20% straight line
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
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.
3 Average number of employees
During the year the average number of employees was 5 (2024 - 5).
4 Tangible fixed assets
Land and buildings
Plant and machinery etc.

Totals
£ £ £
Cost
At 1 November 2024 115,250 277,249 392,499
At 31 October 2025 115,250 277,249 392,499
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Duellist Holdings Limited
Notes to the financial statements - continued
for the year ended 31 October 2025
4 Tangible fixed assets - continued
Depreciation
At 1 November 2024 79,818 257,188 337,006
Charge for year 2,305 528 2,833
At 31 October 2025 82,123 257,716 339,839
Net book value
At 31 October 2025 33,127 19,533 52,660
At 31 October 2024 35,432 20,061 55,493
5 Fixed asset investments
Investments other than loans
Other investments other than loans


£
Cost
At 1 November 2024 15,252
At 31 October 2025 15,252
Net book value
At 31 October 2025 15,252
At 31 October 2024 15,252
6 Financial instruments
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Duellist Holdings Limited
Notes to the financial statements - continued
for the year ended 31 October 2025
6 Financial instruments - continued
A financial asset or financial liability is recognised only when the company becomes party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in a non-derivative financial instrument that is equity of the issuer is publicly traded or the fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recongised.















7 Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 ’The Financial Reporting Standard applicable in the UK and Republic of Ireland’, not to disclose related party transactions with wholly owned subsidiaries within the group. In the year the following transactions occurred between a company in which owners of Duellist Holdings Limited also hold a participating interest: At the balance sheet date, Caerdav Flight Training Limited owed Duellist Holdings Limited £3,850,463. The amount is classified as current and repayable on demand, no interest is charged. During the year, Caerdav Limited was advanced £500,000 and repaid £nil. At the balance sheet date, Caerdav Limited owed Duellist Holdings Limited £19,973,912. The amount is classified as current and repayable on demand, no interest is charged.





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