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Company No: 00736808 (England and Wales)

GEORGE DIXON (PLANT) LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

GEORGE DIXON (PLANT) LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

GEORGE DIXON (PLANT) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2023
GEORGE DIXON (PLANT) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 58 239
Investment property 4 1,002,791 1,002,791
1,002,849 1,003,030
Current assets
Debtors 5 480 425
Cash at bank and in hand 5,577 1,957
6,057 2,382
Creditors: amounts falling due within one year 6 ( 284,477) ( 286,451)
Net current liabilities (278,420) (284,069)
Total assets less current liabilities 724,429 718,961
Provision for liabilities ( 51,743) ( 51,743)
Net assets 672,686 667,218
Capital and reserves
Called-up share capital 7 4,000 4,000
Profit and loss account 668,686 663,218
Total shareholders' funds 672,686 667,218

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of George Dixon (Plant) Limited (registered number: 00736808) were approved and authorised for issue by the Director on 16 November 2023. They were signed on its behalf by:

G Durston
Director
GEORGE DIXON (PLANT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
GEORGE DIXON (PLANT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

George Dixon (Plant) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 01 October 2022 10,794 590 11,384
At 30 September 2023 10,794 590 11,384
Accumulated depreciation
At 01 October 2022 10,731 414 11,145
Charge for the financial year 63 118 181
At 30 September 2023 10,794 532 11,326
Net book value
At 30 September 2023 0 58 58
At 30 September 2022 63 176 239

4. Investment property

Investment property
£
Valuation
As at 01 October 2022 1,002,791
As at 30 September 2023 1,002,791

Historic cost

If the investment properties had been accounted for cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 524,997 524,997

5. Debtors

2023 2022
£ £
Prepayments 480 425

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 3,450 777
Accruals and deferred income 3,253 2,700
Taxation and social security 1,197 2,852
Other creditors 276,577 280,122
284,477 286,451

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
4,000 Ordinary shares of £ 1.00 each 4,000 4,000

8. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amount owed to the entity's director by the company at year end 272,331 275,876

The amount is included within other creditors. The loan is interest free and there is no fixed date for repayment.