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Registration number: 09013413

Dixons Landscapes Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Dixons Landscapes Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Dixons Landscapes Limited

Company Information

Directors

Mr J Dixon

Mrs J Dixon

Registered office

Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Dixons Landscapes Limited

(Registration number: 09013413)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

50,000

Tangible assets

5

232,969

171,215

 

232,969

221,215

Current assets

 

Stocks

6

4,689

2,091

Debtors

7

53,195

60,201

Cash at bank and in hand

 

251,247

271,833

 

309,131

334,125

Creditors: Amounts falling due within one year

8

(316,141)

(348,167)

Net current liabilities

 

(7,010)

(14,042)

Total assets less current liabilities

 

225,959

207,173

Creditors: Amounts falling due after more than one year

8

(56,604)

(55,224)

Provisions for liabilities

(46,954)

(25,312)

Net assets

 

122,401

126,637

Capital and reserves

 

Called up share capital

100

100

Retained earnings

122,301

126,537

Shareholders' funds

 

122,401

126,637

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Dixons Landscapes Limited

(Registration number: 09013413)
Balance Sheet as at 31 May 2024

Approved and authorised by the Board on 30 July 2024 and signed on its behalf by:
 

.........................................
Mr J Dixon
Director

.........................................
Mrs J Dixon
Director

 

Dixons Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD
England

These financial statements were authorised for issue by the Board on 30 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

 

Dixons Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance basis

Furniture, fittings and equipment

15% & 33% reducing balance basis

Motor vehicles

25% reducing balance basis

Buildings

Over 10 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

 

Dixons Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Dixons Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2023 - 24).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 June 2023

500,000

500,000

At 31 May 2024

500,000

500,000

Amortisation

At 1 June 2023

450,000

450,000

Amortisation charge

50,000

50,000

At 31 May 2024

500,000

500,000

Carrying amount

At 31 May 2024

-

-

At 31 May 2023

50,000

50,000

 

Dixons Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 June 2023

-

73,694

374,653

17,198

465,545

Additions

10,485

4,024

92,307

36,877

143,693

Disposals

-

-

(83,872)

-

(83,872)

At 31 May 2024

10,485

77,718

383,088

54,075

525,366

Depreciation

At 1 June 2023

-

45,014

238,064

11,252

294,330

Charge for the year

1,048

5,642

53,357

6,423

66,470

Eliminated on disposal

-

-

(68,403)

-

(68,403)

At 31 May 2024

1,048

50,656

223,018

17,675

292,397

Carrying amount

At 31 May 2024

9,437

27,062

160,070

36,400

232,969

At 31 May 2023

-

28,680

136,589

5,946

171,215

Included within the net book value of land and buildings above is £9,437 (2023 - £Nil) in respect of freehold land and buildings and £Nil (2023 - £Nil) in respect of short leasehold land and buildings.
 

 

Dixons Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Stocks

2024
£

2023
£

Other inventories

4,689

2,091

7

Debtors

Current

2024
£

2023
£

Trade debtors

43,371

59,201

Prepayments

2,453

-

Other debtors

7,371

1,000

 

53,195

60,201

 

Dixons Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

71,424

57,953

Trade creditors

 

71,716

88,897

Taxation and social security

 

129,308

138,931

Accruals and deferred income

 

4,536

3,200

Other creditors

 

39,157

59,186

 

316,141

348,167

Creditors due within one year include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £61,283 (2023 - £48,062).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

56,604

55,224

Creditors due after more than one year include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £41,808 (2023 - £30,283).

 

Dixons Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

14,796

24,941

Finance lease liabilities

41,808

30,283

56,604

55,224

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,141

9,891

Finance lease liabilities

61,283

48,062

71,424

57,953

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £42,000 (2023 - £57,000).