2022-03-012023-02-282023-02-28false06809872DIXON GRACE RECRUITMENT 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DIXON GRACE RECRUITMENT LIMITED

Registered Number
06809872
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

DIXON GRACE RECRUITMENT LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

PAIN, Robert
POLAND, Andrew

Registered Address

Fairview House
Victoria Place
Carlisle
CA1 1HP

Registered Number

06809872 (England and Wales)
DIXON GRACE RECRUITMENT LIMITED
Statement of Financial Position
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5385513
385513
Current assets
Debtors747,580121,572
Cash at bank and on hand65,936137,305
113,516258,877
Creditors amounts falling due within one year8(80,088)(203,341)
Net current assets (liabilities)33,42855,536
Total assets less current liabilities33,81356,049
Net assets33,81356,049
Capital and reserves
Called up share capital1010
Profit and loss account33,80356,039
Shareholders' funds33,81356,049
The financial statements were approved and authorised for issue by the Board of Directors on 17 November 2023, and are signed on its behalf by:
PAIN, Robert
Director
POLAND, Andrew
Director

Registered Company No. 06809872
DIXON GRACE RECRUITMENT LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis 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.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment25
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Government grants and other government assistance policy
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 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 statement of income and retained earnings in the same period as the related expenditure.
Employee benefits policy
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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.
Valuation of financial instruments policy
The Company 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.
4.Employee information

20232022
Average number of employees during the year3145
5.Property, plant and equipment

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 March 22-4,0164,016
At 28 February 23-4,0164,016
Depreciation and impairment
At 01 March 221703,3333,503
Charge for year-128128
Other adjustments(170)170-
At 28 February 23-3,6313,631
Net book value
At 28 February 23-385385
At 28 February 22(170)683513
6.Off balance sheet pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £10,522 (2022 - £10,264).
7.Debtors

2023

2022

££
Trade debtors / trade receivables47,580121,572
Total47,580121,572
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables21,48092,623
Taxation and social security40,24279,424
Other creditors8,3458,046
Accrued liabilities and deferred income10,02123,248
Total80,088203,341
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. £21,225 is included in trade creditors and is secured by way of a fixed and floating charge in favour of Lloyds TSB.