Company registration number 05488196 (England and Wales)
DIMMACK BROTHERS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
DIMMACK BROTHERS LIMITED
COMPANY INFORMATION
Directors
Mr B P Dimmack
Mr M P Dimmack
Secretary
Mr B P Dimmack
Company number
05488196
Registered office
The Old Fold Yard
East End Farm
Asselby
Goole
East Yorkshire
DN14 7HB
Accountants
Haigh Accountants Limited
Grange Cottage
Fulham Lane
Womersley
Doncaster
DN6 9BW
Business address
The Old Fold Yard
East End Farm
Asselby
Goole
East Yorkshire
DN14 7HB
DIMMACK BROTHERS LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Statement of income and retained earnings
3
Balance sheet
4 - 5
Notes to the financial statements
6 - 10
DIMMACK BROTHERS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2023
- 1 -

The directors present their annual report and financial statements for the year ended 30 June 2023.

Principal activities

The principal activity of the company was that of general builders.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr B P Dimmack
Mr M P Dimmack
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr B P Dimmack
Director
6 March 2024
DIMMACK BROTHERS LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF DIMMACK BROTHERS LIMITED
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dimmack Brothers Limited for the year ended 30 June 2023 set out on pages 3 to 10 from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the board of directors of Dimmack Brothers Limited, as a body, in accordance with the terms of our engagement letter dated 25 November 2011. Our work has been undertaken solely to prepare for your approval the financial statements of Dimmack Brothers Limited and state those matters that we have agreed to state to the board of directors of Dimmack Brothers Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dimmack Brothers Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Dimmack Brothers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dimmack Brothers Limited. You consider that Dimmack Brothers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Dimmack Brothers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haigh Accountants Limited
6 March 2024
Certified Accountants
Grange Cottage
Fulham Lane
Womersley
Doncaster
DN6 9BW
DIMMACK BROTHERS LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
2023
2022
£
£
Turnover
3,278,464
2,688,577
Cost of sales
(2,787,873)
(1,946,704)
Gross profit
490,591
741,873
Administrative expenses
(205,965)
(204,969)
Other operating income
654
6,016
Operating profit
285,280
542,920
Interest receivable and similar income
558
-
0
Interest payable and similar expenses
(116,508)
(12,376)
Profit before taxation
169,330
530,544
Tax on profit
(52,203)
(69,463)
Profit for the financial year
117,127
461,081
Retained earnings brought forward
1,137,088
1,812,507
Dividends
-
0
(1,136,500)
Retained earnings carried forward
1,254,215
1,137,088
DIMMACK BROTHERS LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 4 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
330,417
224,982
Current assets
Work in progress
1,920,402
1,088,790
Debtors
4
778,379
720,525
Cash at bank and in hand
309,536
912,116
3,008,317
2,721,431
Creditors: amounts falling due within one year
5
(1,602,153)
(1,253,206)
Net current assets
1,406,164
1,468,225
Total assets less current liabilities
1,736,581
1,693,207
Creditors: amounts falling due after more than one year
6
(425,649)
(539,010)
Provisions for liabilities
(55,697)
(16,089)
Net assets
1,255,235
1,138,108
Capital and reserves
Called up share capital
1,020
1,020
Profit and loss reserves
1,254,215
1,137,088
Total equity
1,255,235
1,138,108

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

DIMMACK BROTHERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2023
30 June 2023
- 5 -
The financial statements were approved by the board of directors and authorised for issue on 6 March 2024 and are signed on its behalf by:
Mr B P Dimmack
Director
Company Registration No. 05488196
DIMMACK BROTHERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
1
Accounting policies
Company information

Dimmack Brothers Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Fold Yard, East End Farm, Asselby, Goole, East Yorkshire, DN14 7HB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
15% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The asset's 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.

DIMMACK BROTHERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 7 -
1.5
Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

 

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

 

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.7
Financial instruments

The company only enters into basic financial instruments 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised 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.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities including short term creditors are measured at the transaction price. 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.

DIMMACK BROTHERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 8 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

DIMMACK BROTHERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 9 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 10 (2022 - 10).

2023
2022
Number
Number
Total
10
10
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022
312,162
Additions
153,337
Disposals
(4,429)
At 30 June 2023
461,070
Depreciation and impairment
At 1 July 2022
87,180
Depreciation charged in the year
45,721
Eliminated in respect of disposals
(2,249)
At 30 June 2023
130,653
Carrying amount
At 30 June 2023
330,417
At 30 June 2022
224,982
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
692,970
202,172
Other debtors
85,409
518,353
778,379
720,525
DIMMACK BROTHERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 10 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
104,210
104,210
Trade creditors
166,029
269,026
Amounts owed to group undertakings
343,889
411,379
Corporation tax
12,595
70,906
Other taxation and social security
11,775
5,580
Other creditors
963,655
392,105
1,602,153
1,253,206
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
295,262
399,472
Other creditors
130,387
139,538
425,649
539,010
7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Loan to Director
-
85,047
201,710
(756,194)
(469,437)
85,047
201,710
(756,194)
(469,437)
DIMMACK BROTHERS LIMITED
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023
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