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Unaudited Financial Statements for the Year Ended 31 March 2019 |
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Dueltitan Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2019 |
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for |
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Dueltitan Limited |
Dueltitan Limited (Registered number: 04709007) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Dueltitan Limited |
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Company Information |
for the Year Ended 31 March 2019 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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22 DeMontfort Street |
Leicester |
Leicestershire |
LE1 7GB |
Dueltitan Limited (Registered number: 04709007) |
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Abridged Balance Sheet |
31 March 2019 |
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31.3.19 | 31.3.18 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 3 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
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NET ASSETS/(LIABILITIES) |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 5 |
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Retained earnings | 5 | ( |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and
387 of the Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the
company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Dueltitan Limited (Registered number: 04709007) |
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Abridged Balance Sheet - continued |
31 March 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Dueltitan Limited (Registered number: 04709007) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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Dueltitan Limited is a
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The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Changes in accounting policies |
This is the first year that the Financial Statements have been prepared under FRS102 as the |
company no longer meets the requirements of the FRS105 micro-entity scheme. All |
comparatives are restated under FRS102. |
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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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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
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Going concern |
The company is dependent upon the director's loan and the continued support of its |
bankers. On this basis, the director considers it appropriate to prepare the financial |
statements on a going concern basis. The financial statements do not include any |
adjustments that would result from a withdrawal of the loan facilities by the company's |
bankers or director. |
Dueltitan Limited (Registered number: 04709007) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Income from fixed asset investment |
Income from fixed asset investments comprises rent on the company's investment property |
and is accounted for on a receivable basis. |
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3. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2018 |
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Revaluations | 130,000 |
At 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 | 68,800 |
Charge for year | (68,800 | ) |
At 31 March 2019 | - |
NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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Fair value at 31 March 2019 is represented by: |
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Valuation in 2010 | 68,033 |
Valuation in 2019 | 130,000 |
Cost | 361,967 |
560,000 |
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If investment property had not been revalued it would have been included at the following |
historical cost: |
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31.3.19 | 31.3.18 |
as |
restated |
£ | £ |
Cost | 361,967 | 361,967 |
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Investment property was valued on an open market basis on 31 March 2010 by the directors |
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Dueltitan Limited (Registered number: 04709007) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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4. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.19 | 31.3.18 |
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restated |
£ | £ |
Bank loans |
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5. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 April 2018 | ( |
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(37,230 | ) |
Profit for the year |
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No description | 1,349 |
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200,149 |
At 31 March 2019 | ( |
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171,320 |