Duo Tech Holdings Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07059519 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 July 2022

for

Duo Tech Holdings Limited

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

B Baker

M Colman

S Madan

Fulcrum Technologies Ltd

REGISTERED OFFICE:

Feeder Road

Bristol

BS2 0TH

REGISTERED NUMBER:

07059519 (England and Wales)

ACCOUNTANTS:

Kingscote Accountancy Limited

77A Alma Road

Clifton

Bristol

BS8 2DP

The directors present their report with the financial statements of the company for the year ended 31 July 2022.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 August 2021 to the date of this report.

B Baker

M Colman

S Madan

Fulcrum Technologies Ltd

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

S Madan - Director

22 February 2023

FIXED ASSETS

Tangible assets

4

11,725

17,159

CURRENT ASSETS

Stocks

180,524

209,474

Debtors

5

71,067

192,338

Cash at bank

6,221

118,927

257,812

520,739

CREDITORS

Amounts falling due within one year

6

158,326

417,781

NET CURRENT ASSETS

99,486

102,958

TOTAL ASSETS LESS CURRENT LIABILITIES

111,211

120,117

CREDITORS

Amounts falling due after more than one year

7

(38,850

)

(48,294

)

PROVISIONS FOR LIABILITIES

(392

)

(473

)

NET ASSETS

71,969

71,350

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

71,869

71,250

SHAREHOLDERS' FUNDS

71,969

71,350

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2023 and were signed on its behalf by:

S Madan - Director

1.	STATUTORY INFORMATION

Duo Tech Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Current or deferred 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2021

and 31 July 2022

36,113

DEPRECIATION

At 1 August 2021

18,954

Charge for year

5,434

At 31 July 2022

24,388

NET BOOK VALUE

At 31 July 2022

11,725

At 31 July 2021

17,159

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Trade debtors

67,328

150,822

Other debtors

3,739

41,516

71,067

192,338

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Trade creditors

44,106

194,312

Taxation and social security

6,220

(27,135

)

Other creditors

108,000

250,604

158,326

417,781

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.22

31.7.21

£

£

Bank loans

38,850

48,294

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2022 and 31 July 2021:

31.7.22

31.7.21

£

£

B Baker

Balance outstanding at start of year

(10,216

)

(1,209

)

Amounts advanced

10,216

40,993

Amounts repaid

-

(50,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(10,216

)

9.	RELATED PARTY DISCLOSURES

During the year Duo Tech Holdings Ltd recharged £41,774 of administration costs to Bristol Television Film Services Ltd.

Bristol Television Film Services Ltd is a connected company due to its Director B Baker.

During the year Duo Tech Holdings Ltd purchased goods and services totalling £185,215 from Colman Holdings Ltd, Colman Packaging Ltd, Colman Packing Ltd and Surviral Ltd, all of which are connected companies by virtue of their Director M Colman.

During the year Duo Tech Holdings Ltd purchased services totalling £31,517 from Coaction consulting Ltd, a connected company by virtue of its Director S Madan.

During the year Duo Tech Holdings Ltd purchased services totalling £32,023 from Fulcrum Technologies Ltd, a connected company by virtue of its Director R Prosser.