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REGISTERED NUMBER: 00458145 (England and Wales)
















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Robert Dixon Limited

Robert Dixon Limited (Registered number: 00458145)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Robert Dixon Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: P J Dixon
E J Dixon





REGISTERED OFFICE: Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN





BUSINESS ADDRESS: Mill Studio Business Centre
Crane Mead
Ware
Hertfordshire
SG12 9PY





REGISTERED NUMBER: 00458145 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

Robert Dixon Limited (Registered number: 00458145)

Abridged Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 1,282,876 1,285,258
Investments 6 10,949 10,949
Investment property 7 5,302,500 5,302,500
6,596,326 6,598,708

CURRENT ASSETS
Stocks 8,734,478 7,135,172
Debtors 986,910 1,415,364
Cash at bank and in hand 212,027 1,029,378
9,933,415 9,579,914
CREDITORS
Amounts falling due within one year 315,336 328,998
NET CURRENT ASSETS 9,618,079 9,250,916
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,214,405

15,849,624

CREDITORS
Amounts falling due after more than one
year

(1,350,000

)

(1,000,000

)

PROVISIONS FOR LIABILITIES 9 (1,342,150 ) (1,342,126 )
NET ASSETS 13,522,255 13,507,498

CAPITAL AND RESERVES
Called up share capital 10 886 886
Revaluation reserve 11 192,909 192,909
Capital redemption reserve 114 114
Non distributable reserves 3,806,913 3,806,913
Retained earnings 9,521,433 9,506,676
SHAREHOLDERS' FUNDS 13,522,255 13,507,498

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Robert Dixon Limited (Registered number: 00458145)

Abridged Balance Sheet - continued
28 February 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 November 2023 and were signed on its behalf by:





P J Dixon - Director


Robert Dixon Limited (Registered number: 00458145)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Robert Dixon Limited 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 as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Preparation of consolidated financial statements
The financial statements contain information about Robert Dixon Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents sales to external customers at invoiced amounts less value added tax. Income is received from tenants for occupation of properties and the recharging of associated services, and for membership to the golf course. Income is recognised over the period to which it relates.

Goodwill
Goodwill has arisen on the acquisition of Mill Studio Business Centre and has been calculated as the difference between the consideration and the fair value of the assets and liabilities acquired. Due to the immaterial value of the Goodwill, no provision for amortisation has been made.

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.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Disposals of land and property are accounted for on completion.

No charge has been made for depreciation on freehold buildings. This is due to the residual value of the buildings being considered to be not less than current net book value having regard to the continued refurbishment works that have occurred and that are continuing to take place in forthcoming years.

Government grants
Government grants are recognised in the financial statements using the accruals model. Grants that are received in respect of expenses or losses already incurred by the entity are recognised in profit and loss in the period when the grant becomes receivable.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Robert Dixon Limited (Registered number: 00458145)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

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.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method

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.

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.

Valuation of investments
Investments held as fixed assets are stated at cost less any provision for impairment. Investments held as current assets are stated at the lower of cost and net realisable value.

Robert Dixon Limited (Registered number: 00458145)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2022
and 28 February 2023 1
NET BOOK VALUE

At 28 February 2023 1
At 28 February 2022 1

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 March 2022 1,597,941
Additions 13,232
Disposals (2,495 )
At 28 February 2023 1,608,678
DEPRECIATION
At 1 March 2022 312,683
Charge for year 13,119
At 28 February 2023 325,802
NET BOOK VALUE
At 28 February 2023 1,282,876
At 28 February 2022 1,285,258

Cost or valuation at 28 February 2023 is represented by:

Totals
£   
Valuation in 2011 (53,574 )
Valuation in 2013 510,786
Valuation in 2020 (200,000 )
Cost 1,351,466
1,608,678

The company's freehold property was revalued as at 28 February 2021, following from the valuation undertaken by John Arkwright & Co, a professional qualified independent Chartered Surveyor. The valuation report was undertaken by John Arkwright & Co on 19 February 2021. The Directors consider the movement in valuation from the valuation report date to the revaluation date, to be immaterial. The historical cost of these assets was £982,788 (2022: £982,788).

Robert Dixon Limited (Registered number: 00458145)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 March 2022
and 28 February 2023 11,049
PROVISIONS
At 1 March 2022
and 28 February 2023 100
NET BOOK VALUE
At 28 February 2023 10,949
At 28 February 2022 10,949

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 5,302,500
NET BOOK VALUE
At 28 February 2023 5,302,500
At 28 February 2022 5,302,500

The company's freehold property was revalued as at 28 February 2021, following from the valuation undertaken by John Arkwright & Co, a professional qualified independent Chartered Surveyor. The valuation report was undertaken by John Arkwright & Co on 19 February 2021. The Directors consider the movement in valuation from the valuation report date to the revaluation date, to be immaterial. The historical cost of the Investment property held at 28 February 2023 is £219,115 (2022: £219,115).

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2021 5,083,385
Cost 219,115
5,302,500

8. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 1,350,000 1,000,000

Handelsbanken plc has two fixed and floating charges over the assets of the company. The charges are registered at Companies House under charge code 0045 8145 0004 & charge code 0045 8145 0005

Robert Dixon Limited (Registered number: 00458145)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

9. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax
Accelerated capital allowances 8,875 8,851
Revaluations 1,333,275 1,333,275
1,342,150 1,342,126

Deferred
tax
£   
Balance at 1 March 2022 1,342,126
Accelerated capital allowances 24
Balance at 28 February 2023 1,342,150

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
886 Ordinary £1 886 886

11. RESERVES
Revaluation
reserve
£   
At 1 March 2022
and 28 February 2023 192,909

12. PENSION COMMITMENTS

The company operates a defined contribution 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 £6,586 (2022: £6,867). The pension contributions outstanding at the year end amounted to £2,256 (2022: £1,327).