DUCAS LTD

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Kreston Reeves Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“It has been widely reported that some of the group companies are in dispute with the UK Tax Authority. In November 2024 HMRC issued a claim against FL Capital Holdings Limited, Ducas Limited and Enix Services Limited in an ex parte hearing at the High Court. A Freezing Order was issued against the assets of the three companies with a provision to allow bank transactions in the 'ordinary and proper' course of business which has allowed the companies to continue to trade. This matter is due to be heard in the First Tier Tax Tribunal during April and May of 2026. The directors remain confident of the position of the group.”

Significant events

• “It has been widely reported that some of the group companies are in dispute with the UK Tax Authority. In November 2024 HMRC issued a claim against FL Capital Holdings Limited, Ducas Limited and Enix Services Limited in an ex parte hearing at the High Court. A Freezing Order was issued against the assets of the three companies with a provision to allow bank transactions in the 'ordinary and proper' course of business which has allowed the companies to continue to trade.”
• “Also, at the time of publication, the directors are waiting for HM Treasury to release the final wording of legislation, due to come into law from April 2026, that may impact some of the operations of the group. Work is under way to create new products and processes to meet future requirements of clients with launch expected to take place in early 2026. In conjunction with these changes in legislation, the group has undertaken a significant cost cutting exercise which includes staff restructuring and a reduction of overheads in order to match expected levels of future profitability.”
• “The directors proposed dividends of £374,745 after the balance sheet date.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -20.5%

  £563,990,150 → £448,647,917

• Cash

  +43.8%

  £2,529,201 → £3,637,291

• Net assets

  -15.1%

  £3,294,593 → £2,796,810

• Employees

  -17.1%

  591 → 490

• Operating profit

  -30.4%

  £13,091,000 → £9,115,670

• Profit before tax

  -25.9%

  £13,275,907 → £9,833,709

• Wages

  -15.8%

  £16,401,129 → £13,816,441

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers