Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31583772022-04-01falseNo description of principal activity4444truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00719847 2022-04-01 2023-03-31 00719847 2021-04-01 2022-03-31 00719847 2023-03-31 00719847 2022-03-31 00719847 c:Director4 2022-04-01 2023-03-31 00719847 c:Director5 2022-04-01 2023-03-31 00719847 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 00719847 d:Buildings d:LongLeaseholdAssets 2023-03-31 00719847 d:Buildings d:LongLeaseholdAssets 2022-03-31 00719847 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 00719847 d:FurnitureFittings 2022-04-01 2023-03-31 00719847 d:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 00719847 d:OtherPropertyPlantEquipment 2023-03-31 00719847 d:OtherPropertyPlantEquipment 2022-03-31 00719847 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00719847 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 00719847 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00719847 d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 00719847 d:Goodwill 2023-03-31 00719847 d:Goodwill 2022-03-31 00719847 d:CurrentFinancialInstruments 2023-03-31 00719847 d:CurrentFinancialInstruments 2022-03-31 00719847 d:Non-currentFinancialInstruments 2023-03-31 00719847 d:Non-currentFinancialInstruments 2022-03-31 00719847 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00719847 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 00719847 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00719847 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 00719847 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 00719847 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 00719847 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 00719847 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 00719847 d:ShareCapital 2023-03-31 00719847 d:ShareCapital 2022-03-31 00719847 d:CapitalRedemptionReserve 2023-03-31 00719847 d:CapitalRedemptionReserve 2022-03-31 00719847 d:RetainedEarningsAccumulatedLosses 2023-03-31 00719847 d:RetainedEarningsAccumulatedLosses 2022-03-31 00719847 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-03-31 00719847 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-03-31 00719847 c:FRS102 2022-04-01 2023-03-31 00719847 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 00719847 c:FullAccounts 2022-04-01 2023-03-31 00719847 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00719847 d:WithinOneYear 2023-03-31 00719847 d:WithinOneYear 2022-03-31 00719847 d:BetweenOneFiveYears 2023-03-31 00719847 d:BetweenOneFiveYears 2022-03-31 00719847 d:MoreThanFiveYears 2023-03-31 00719847 d:MoreThanFiveYears 2022-03-31 00719847 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 00719847 d:HirePurchaseContracts d:WithinOneYear 2022-03-31 00719847 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 00719847 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-03-31 00719847 2 2022-04-01 2023-03-31 00719847 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-03-31 00719847 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-03-31 00719847 d:LeasedAssetsHeldAsLessee 2023-03-31 00719847 d:LeasedAssetsHeldAsLessee 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 00719847










DIPPLE & CONWAY (NORWICH) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
DIPPLE & CONWAY (NORWICH) LIMITED
REGISTERED NUMBER: 00719847

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 6 
565,030
631,841

  
565,030
631,841

Current assets
  

Stocks
  
240,483
216,267

Debtors
 7 
831,042
684,051

Cash at bank and in hand
  
182,530
246,396

  
1,254,055
1,146,714

Creditors: amounts falling due within one year
 8 
(565,969)
(667,942)

Net current assets
  
 
 
688,086
 
 
478,772

Total assets less current liabilities
  
1,253,116
1,110,613

Creditors: amounts falling due after more than one year
 9 
(129,748)
(117,498)

Provisions for liabilities
  

Deferred tax
  
(115,937)
(126,829)

Other provisions
 12 
(182,826)
(182,826)

  
 
 
(298,763)
 
 
(309,655)

Net assets
  
824,605
683,460


Capital and reserves
  

Called up share capital 
  
1,001
1,001

Capital redemption reserve
  
999
999

Profit and loss account
  
822,605
681,460

  
824,605
683,460


Page 1

 
DIPPLE & CONWAY (NORWICH) LIMITED
REGISTERED NUMBER: 00719847
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M J Conway
B M Conway
Director
Director


Date: 28 August 2023

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
DIPPLE & CONWAY (NORWICH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Dipple & Conway (Norwich) Limited is a private company limited by shares and incorporated in England and Wales, registration number 00719847. The registered office is C/O Larking Gowen 1st Floor Prospect House, Rouen Road, Norwich, Norfolk, United Kingdom, NR1 1RE. The Company's trading address is 19 Castle Street, Norwich, NR2 1PB. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
DIPPLE & CONWAY (NORWICH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Structural alterations to leased buildings
-
Life of lease
Fixtures, fittings, tools & equipment
-
6 to 7 years
Other fixed assets
-

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the the cost of purchase.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the income statement.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment. 

Page 4

 
DIPPLE & CONWAY (NORWICH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable.

 
2.13

Operating leases: the Company as lessee

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

 
2.14

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.15

Pensions

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

Page 5

 
DIPPLE & CONWAY (NORWICH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.16

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.17

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.18

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.19

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.


3.


Employees

The average monthly number of employees, including directors, during the year was 44 (2022 - 44).

Page 6

 
DIPPLE & CONWAY (NORWICH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Dividends

2023
2022
£
£


Dividends
280,000
550,000

280,000
550,000


5.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
76,000



At 31 March 2023

76,000



Amortisation


At 1 April 2022
76,000



At 31 March 2023

76,000



Net book value



At 31 March 2023
-



At 31 March 2022
-



Page 7

 
DIPPLE & CONWAY (NORWICH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Tangible fixed assets





Leasehold property improvements
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 April 2022
926,557
565,514
1,492,071


Additions
-
72,541
72,541


Disposals
-
(7,537)
(7,537)



At 31 March 2023

926,557
630,518
1,557,075



Depreciation


At 1 April 2022
537,164
323,066
860,230


Charge for the year on owned assets
58,377
43,450
101,827


Charge for the year on financed assets
-
37,483
37,483


Disposals
-
(7,495)
(7,495)



At 31 March 2023

595,541
396,504
992,045



Net book value



At 31 March 2023
331,016
234,014
565,030



At 31 March 2022
389,393
242,448
631,841

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Other fixed assets
100,042
99,406

100,042
99,406

Page 8

 
DIPPLE & CONWAY (NORWICH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
83,750
50,000

83,750
50,000

Due within one year

Trade debtors
57,679
67,252

Amounts owed by group undertakings
579,558
447,976

Other debtors
57,661
49,181

Prepayments and accrued income
52,394
69,642

831,042
684,051


Page 9

 
DIPPLE & CONWAY (NORWICH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
36,586
42,282

Other loans
22,808
52,528

Trade creditors
167,124
200,672

Corporation tax
118,725
183,867

Other taxation and social security
34,898
21,163

Obligations under finance lease and hire purchase contracts
59,326
48,918

Other creditors
19,175
16,183

Accruals and deferred income
107,327
102,329

565,969
667,942


The following liabilities were secured:

2023
2022
£
£



Other loans
18,371
-

18,371
-

Details of security provided:

The above loan is secured by fixed, floating and pledge charges over all the property and undertakings of the company.

Page 10

 
DIPPLE & CONWAY (NORWICH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
36,702

Other loans
81,629
-

Net obligations under finance leases and hire purchase contracts
43,853
66,623

Trade creditors
4,266
14,173

129,748
117,498


The following liabilities were secured:

2023
2022
£
£



Other loans
81,629
-

81,629
-

Details of security provided:

The above loan is secured by fixed, floating and pledge charges over all the property and undertakings of the company.

Page 11

 
DIPPLE & CONWAY (NORWICH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
36,586
42,282

Other loans
22,808
52,528


59,394
94,810

Amounts falling due 1-2 years

Bank loans
-
36,702

Other loans
19,151
-


19,151
36,702

Amounts falling due 2-5 years

Other loans
62,478
-


62,478
-


141,023
131,512



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
59,326
48,918

Between 1-5 years
43,853
66,622

103,179
115,540

Page 12

 
DIPPLE & CONWAY (NORWICH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

12.


Provisions





Other provision

£





At 1 April 2022
182,826



At 31 March 2023
182,826


13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £39,923 (2022: £137,154). Contributions totalling £1,883 (2022: £1,590) were payable to the fund at the statement of financial position date. 


14.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
111,072
97,430

Later than 1 year and not later than 5 years
418,723
388,041

Later than 5 years
39,896
135,646

569,691
621,117


15.


Transactions with directors

At the year end the directors owed the company £84,836 (2022: £50,902). Amounts repaid during the year totalled £7,166. Amounts advanced in the year totalled £40,000. Interest has been charged on this amounting to £1,100 (2022: £902), being at a rate of 2%. 


16.


Related party transactions

The company has taken advantage of the exemption under section 33.1A, allowing wholly owned group members to depart from the requirements to disclose transactions with other group companies.

 
Page 13