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WILLIAM DIXON & ASSOCIATES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






WILLIAM DIXON & ASSOCIATES LTD (REGISTERED NUMBER: 07167341)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WILLIAM DIXON & ASSOCIATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: W D Dixon
R J Edney
Adaptable Services Group Ltd





REGISTERED OFFICE: Hartham Park
Hartham Lane
Corsham
Wiltshire
SN13 0RP





REGISTERED NUMBER: 07167341 (England and Wales)





ACCOUNTANTS: Bowen Accountants Ltd
Chartered Accountants
Unit 1 Gate Farm
High Street
Sutton Benger
Chippenham
Wiltshire
SN15 4RE

WILLIAM DIXON & ASSOCIATES LTD (REGISTERED NUMBER: 07167341)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 377,591 448,895
Tangible assets 5 10,042 10,235
Investments 6 2,380 2,380
390,013 461,510

CURRENT ASSETS
Debtors 7 224,543 189,013
Prepayments and accrued income 4,647 963
Cash at bank 106,681 62,520
335,871 252,496
CREDITORS
Amounts falling due within one year 8 214,207 208,607
NET CURRENT ASSETS 121,664 43,889
TOTAL ASSETS LESS CURRENT
LIABILITIES

511,677

505,399

CREDITORS
Amounts falling due after more than one
year

9

(5,833

)

(75,833

)

PROVISIONS FOR LIABILITIES 10 (2,510 ) (2,559 )

ACCRUALS AND DEFERRED INCOME (7,798 ) (2,773 )
NET ASSETS 495,536 424,234

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 495,436 424,134
SHAREHOLDERS' FUNDS 495,536 424,234

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

WILLIAM DIXON & ASSOCIATES LTD (REGISTERED NUMBER: 07167341)

BALANCE SHEET - continued
31 MARCH 2023


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 17 October 2023 and were signed on its behalf by:




W D Dixon - Director



R J Edney - Director


WILLIAM DIXON & ASSOCIATES LTD (REGISTERED NUMBER: 07167341)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

William Dixon & Associates Ltd 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 recognised when the company obtains rights to consideration.

Goodwill
Goodwill represents the purchase of businesses and is being amortised over their estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 15% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

WILLIAM DIXON & ASSOCIATES LTD (REGISTERED NUMBER: 07167341)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 713,045
AMORTISATION
At 1 April 2022 264,150
Amortisation for year 71,304
At 31 March 2023 335,454
NET BOOK VALUE
At 31 March 2023 377,591
At 31 March 2022 448,895

The goodwill relates to an addition made in the year ended 31 March 2021. It represents the original investment value of the acquisition of a subsidiary, Nolan Philips Financial Ltd. Following the subsidiary being liquidated, the trade has been transferred into William Dixon & Associates Ltd and the cost of the investment has been converted into goodwill.

5. TANGIBLE FIXED ASSETS
Leasehold Office Computer
improvements equipment equipment Totals
£    £    £    £   
COST
At 1 April 2022 2,116 11,947 19,650 33,713
Additions - 1,105 2,098 3,203
Disposals (2,116 ) (330 ) (5,801 ) (8,247 )
At 31 March 2023 - 12,722 15,947 28,669
DEPRECIATION
At 1 April 2022 1,094 7,890 14,494 23,478
Charge for year 154 668 1,399 2,221
Eliminated on disposal (1,248 ) - (5,824 ) (7,072 )
At 31 March 2023 - 8,558 10,069 18,627
NET BOOK VALUE
At 31 March 2023 - 4,164 5,878 10,042
At 31 March 2022 1,022 4,057 5,156 10,235

WILLIAM DIXON & ASSOCIATES LTD (REGISTERED NUMBER: 07167341)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 2,380
NET BOOK VALUE
At 31 March 2023 2,380
At 31 March 2022 2,380

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 131,302 116,975
Other debtors 20,628 2,765
Directors' current accounts 54,911 51,571
Tax 17,702 17,702
224,543 189,013

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 70,000 70,000
Trade creditors 44,849 35,236
Tax 95,113 96,173
Social security and other taxes 4,245 7,198
214,207 208,607

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years 5,833 70,000
Other loans - 2-5 years - 5,833
5,833 75,833

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,510 2,559

WILLIAM DIXON & ASSOCIATES LTD (REGISTERED NUMBER: 07167341)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 2,559
Provided during year (49 )
Balance at 31 March 2023 2,510

11. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included on the balance sheet is £4,633.02 which is the operating lease on a photocopier, which is due to expire in 2024.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
W D Dixon
Balance outstanding at start of year 14,895 12,219
Amounts advanced 1,070 2,676
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,965 14,895

R J Edney
Balance outstanding at start of year 36,676 34,295
Amounts advanced 1,506 2,381
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 38,182 36,676

Adaptable Services Group Ltd
Balance outstanding at start of year - -
Amounts advanced 764 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 764 -

Interest has been charged on loans greater than £10,000 at the official rate of interest. The loans are repayable on demand.

13. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its directors, who act in concert.