Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30No description of principal activity2022-07-01false2728truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02710334 2022-07-01 2023-06-30 02710334 2021-07-01 2022-06-30 02710334 2023-06-30 02710334 2022-06-30 02710334 2021-07-01 02710334 c:Director2 2022-07-01 2023-06-30 02710334 d:Buildings 2022-07-01 2023-06-30 02710334 d:Buildings 2023-06-30 02710334 d:Buildings 2022-06-30 02710334 d:Buildings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02710334 d:PlantMachinery 2022-07-01 2023-06-30 02710334 d:PlantMachinery 2023-06-30 02710334 d:PlantMachinery 2022-06-30 02710334 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02710334 d:FurnitureFittings 2022-07-01 2023-06-30 02710334 d:FurnitureFittings 2023-06-30 02710334 d:FurnitureFittings 2022-06-30 02710334 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02710334 d:OfficeEquipment 2022-07-01 2023-06-30 02710334 d:OfficeEquipment 2023-06-30 02710334 d:OfficeEquipment 2022-06-30 02710334 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02710334 d:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 02710334 d:OtherPropertyPlantEquipment 2023-06-30 02710334 d:OtherPropertyPlantEquipment 2022-06-30 02710334 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02710334 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02710334 d:Goodwill 2022-07-01 2023-06-30 02710334 d:Goodwill 2023-06-30 02710334 d:Goodwill 2022-06-30 02710334 d:CurrentFinancialInstruments 2023-06-30 02710334 d:CurrentFinancialInstruments 2022-06-30 02710334 d:Non-currentFinancialInstruments 2023-06-30 02710334 d:Non-currentFinancialInstruments 2022-06-30 02710334 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02710334 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 02710334 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 02710334 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 02710334 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 02710334 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-30 02710334 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 02710334 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-30 02710334 d:ShareCapital 2023-06-30 02710334 d:ShareCapital 2022-06-30 02710334 d:RetainedEarningsAccumulatedLosses 2023-06-30 02710334 d:RetainedEarningsAccumulatedLosses 2022-06-30 02710334 c:OrdinaryShareClass1 2022-07-01 2023-06-30 02710334 c:OrdinaryShareClass1 2023-06-30 02710334 c:OrdinaryShareClass1 2022-06-30 02710334 c:FRS102 2022-07-01 2023-06-30 02710334 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 02710334 c:FullAccounts 2022-07-01 2023-06-30 02710334 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 02710334 2 2022-07-01 2023-06-30 02710334 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 02710334 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 02710334 d:OtherDeferredTax 2023-06-30 02710334 d:OtherDeferredTax 2022-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02710334










DAWKES MUSIC & WINDCRAFT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023



 
DAWKES MUSIC & WINDCRAFT LIMITED
REGISTERED NUMBER: 02710334

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1
1

Tangible assets
 5 
307,808
285,705

  
307,809
285,706

Current assets
  

Stocks
 6 
985,318
905,864

Debtors: amounts falling due within one year
 7 
75,798
116,583

Cash at bank and in hand
 8 
144,111
26,986

  
1,205,227
1,049,433

Creditors: amounts falling due within one year
 9 
(1,011,777)
(831,200)

Net current assets
  
 
 
193,450
 
 
218,233

Total assets less current liabilities
  
501,259
503,939

Creditors: amounts falling due after more than one year
 10 
(36,667)
(76,667)

Provisions for liabilities
  

Deferred tax
 12 
(76,113)
(65,072)

  
 
 
(76,113)
 
 
(65,072)

Net assets
  
388,479
362,200


Capital and reserves
  

Called up share capital 
 13 
1,000
1,000

Profit and loss account
  
387,479
361,200

  
388,479
362,200


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 statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
DAWKES MUSIC & WINDCRAFT LIMITED
REGISTERED NUMBER: 02710334

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

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




J Dawkes
Director

Date: 10 October 2023

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
DAWKES MUSIC & WINDCRAFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Dawkes Music & Windcraft Limited is a private company, limited by share capital and incorporated in England and Wales.
The company's registered office and principal place of business is The Woodwind & Brass Warehouse, Unit C, Reform Road, Maidenhead, Berkshire, SL6 8BT.

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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
DAWKES MUSIC & WINDCRAFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.3

Revenue

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.

 
2.4

Operating leases

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

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Borrowing costs

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

Page 4

 
DAWKES MUSIC & WINDCRAFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

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.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other 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.

Page 5

 
DAWKES MUSIC & WINDCRAFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.11

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, using the straight-line method.

Depreciation is provided on the following basis:

Improvements to property
-
straight line over the life of the lease
Plant & machinery
-
25%
Fixtures & fittings
-
25%
Office equipment
-
25%
Rental instruments
-
at carrying rates on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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 profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

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.

 
2.15

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.

Page 6

 
DAWKES MUSIC & WINDCRAFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.16

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 balance sheet 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 Balance Sheet.

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 27 (2022 - 28).

Page 7

 
DAWKES MUSIC & WINDCRAFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2022
1



At 30 June 2023

1



Net book value



At 30 June 2023
1



At 30 June 2022
1




5.


Tangible fixed assets





Improvements  to property
Plant & machinery
Fixtures & fittings
Office equipment

£
£
£
£



Cost or valuation


At 1 July 2022
34,117
26,243
31,351
207,204


Additions
-
-
373
4,357


Disposals
-
-
-
-



At 30 June 2023

34,117
26,243
31,724
211,561



Depreciation


At 1 July 2022
30,806
22,087
25,107
185,537


Charge for the year on owned assets
832
1,217
3,035
12,650


Disposals
-
-
-
-



At 30 June 2023

31,638
23,304
28,142
198,187



Net book value



At 30 June 2023
2,479
2,939
3,582
13,374



At 30 June 2022
3,311
4,156
6,244
21,667
Page 8

 
DAWKES MUSIC & WINDCRAFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

           5.Tangible fixed assets (continued)


  Rental   instruments
Total

£
£



Cost or valuation


At 1 July 2022
826,555
1,125,470


Additions
111,026
115,756


Disposals
(25,602)
(25,602)



At 30 June 2023

911,979
1,215,624



Depreciation


At 1 July 2022
576,228
839,765


Charge for the year on owned assets
65,363
83,097


Disposals
(15,046)
(15,046)



At 30 June 2023

626,545
907,816



Net book value



At 30 June 2023
285,434
307,808



At 30 June 2022
250,327
285,705

Page 9

 
DAWKES MUSIC & WINDCRAFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
985,318
905,864



7.


Debtors

2023
2022
£
£

Trade debtors
41,946
81,287

Other debtors
1,248
3,143

Prepayments and accrued income
32,604
32,153

75,798
116,583



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
144,111
26,986

Less: bank overdrafts
-
(9,377)

144,111
17,609



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
9,377

Bank loans
40,000
41,494

Trade creditors
679,992
538,520

Amounts owed to group undertakings
537
537

Corporation tax
62,829
19,712

Other taxation and social security
84,740
67,848

Other creditors
39,946
48,148

Accruals and deferred income
103,733
105,564

1,011,777
831,200


Page 10

 
DAWKES MUSIC & WINDCRAFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
36,667
76,667



11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Amounts falling due within one year
40,000
41,494

Amounts falling due 1-2 years
36,667
40,000

Amounts falling due 2-5 years
-
36,667

76,667
118,161



12.


Deferred taxation




2023
2022


£

£



At beginning of year
(65,072)
(44,361)


Charged to profit or loss
(11,041)
(20,711)



At end of year
(76,113)
(65,072)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(76,333)
(65,274)

Short term timing differences
220
202

(76,113)
(65,072)

Page 11

 
DAWKES MUSIC & WINDCRAFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

13.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1 each
1,000
1,000



14.


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 £10,135 (2022 - £8,776). Contributions totalling £2,092 (2022 - £1,913) were payable to the fund at the balance sheet date and are included in creditors.


15.


Related party transactions

During the period, dividends totalling £229,420 (2022 £132,122) were paid to JDN Holdings Limited, the immediate parent company.


16.


Controlling party

The immediate parent company is JDN Holdings Limited.
The ultimate controlling party is the directors by virtue of their shareholding in the immediate parent company.


Page 12