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REGISTERED NUMBER: 07118109 (England and Wales)








Financial Statements

For The Period 1 April 2023 to 31 December 2023

for

Kingscott Dix Ltd

Kingscott Dix Ltd (Registered number: 07118109)






Contents of the Financial Statements
For The Period 1 April 2023 to 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Kingscott Dix Ltd

Company Information
For The Period 1 April 2023 to 31 December 2023







DIRECTORS: S Baily
P Reynaert
P H Morgan
M G Spashett
P Murphy





REGISTERED OFFICE: Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN





REGISTERED NUMBER: 07118109 (England and Wales)





AUDITORS: SCCA Ltd T/A Strafford & Co
Charterd Accountants & Statutory Auditor
3 The Studios
320 Chorley Old Road
Bolton
B11 4JU

Kingscott Dix Ltd (Registered number: 07118109)

Balance Sheet
31 December 2023

31.12.23 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 430,795 501,943
Tangible assets 5 5,075 8,483
435,870 510,426

CURRENT ASSETS
Stocks - work in progress 20,417 16,860
Debtors 6 953,088 977,983
Cash at bank and in hand 151,531 239,948
1,125,036 1,234,791
CREDITORS
Amounts falling due within one year 7 371,027 631,490
NET CURRENT ASSETS 754,009 603,301
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,189,879

1,113,727

CREDITORS
Amounts falling due after more than one
year

8

(318,699

)

(347,199

)

PROVISIONS FOR LIABILITIES (938 ) (1,322 )
NET ASSETS 870,242 765,206

CAPITAL AND RESERVES
Called up share capital 14,285 14,285
Share premium 163,715 163,715
Capital redemption reserve 200 200
Retained earnings 692,042 587,006
SHAREHOLDERS' FUNDS 870,242 765,206

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

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 27 June 2024 and were signed on its behalf by:





S Baily - Director


Kingscott Dix Ltd (Registered number: 07118109)

Notes to the Financial Statements
For The Period 1 April 2023 to 31 December 2023

1. STATUTORY INFORMATION

Kingscott Dix Ltd 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.

Turnover and income recognition
Turnover is recognised at the fair value of the consideration received or receivable for professional 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 and settlement discounts.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion where it is possible to reliably estimate the stage of completion, costs incurred and costs to completion. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent that the related expenses recognised are recoverable.

Goodwill
Goodwill, is initially measured at cost being the amount paid in connection with the acquisition of businesses. After initial recognition, it is measured at cost less any accumulated amortisation or accumulated impairment losses. Goodwill is being amortised as follows:

2010 Acquisition - over 20 years
2015 Acquisition - over 5 years
2022 Acquisition - over 3 years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on cost
Computer Equipment - 33.33% on cost

Kingscott Dix Ltd (Registered number: 07118109)

Notes to the Financial Statements - continued
For The Period 1 April 2023 to 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are measured at transaction price including transaction costs.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

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 trade and other creditors, bank loans, are recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised at transaction price.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the period 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.


Kingscott Dix Ltd (Registered number: 07118109)

Notes to the Financial Statements - continued
For The Period 1 April 2023 to 31 December 2023

2. ACCOUNTING POLICIES - continued
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 period 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.

Work in progress
Work in progress in respect of contracts where the outcome cannot be assessed with reasonable certainty is valued at the lower of cost and net realisable value. Cost is represented by labour and other direct costs and overheads incurred in bringing each matter to its present state of completion. Net realisable value is the estimated fee charge less further costs expected to be incurred to completion.

Operating leases
Rentals payable under operating leases, including any lease incentives received, are charged to the income statement on a straight line basis over the term of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 33 (2023 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 December 2023 1,784,600
AMORTISATION
At 1 April 2023 1,282,657
Charge for period 71,148
At 31 December 2023 1,353,805
NET BOOK VALUE
At 31 December 2023 430,795
At 31 March 2023 501,943

Kingscott Dix Ltd (Registered number: 07118109)

Notes to the Financial Statements - continued
For The Period 1 April 2023 to 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 243,465
Additions 440
At 31 December 2023 243,905
DEPRECIATION
At 1 April 2023 234,982
Charge for period 3,848
At 31 December 2023 238,830
NET BOOK VALUE
At 31 December 2023 5,075
At 31 March 2023 8,483

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.3.23
£    £   
Trade debtors 388,522 493,262
Amounts recoverable on
contracts 498,439 405,336
Other debtors 66,127 79,385
953,088 977,983

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.3.23
£    £   
Trade creditors 16,252 49,640
Taxation and social security 288,847 364,970
Other creditors 65,928 216,880
371,027 631,490

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.3.23
£    £   
Other creditors 318,699 347,199

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Stafford BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of SCCA Ltd T/A Strafford & Co

Kingscott Dix Ltd (Registered number: 07118109)

Notes to the Financial Statements - continued
For The Period 1 April 2023 to 31 December 2023

10. OTHER FINANCIAL COMMITMENTS

At 31 December 2023 the company had total commitments in respect of non-cancellable operating leases over the lives of those leases of £16,167 (31 March 2023: £52,542).