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REGISTERED NUMBER: 09904266 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Dixon & Cowton Cabinet Makers Limited

Dixon & Cowton Cabinet Makers Limited (Registered number: 09904266)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dixon & Cowton Cabinet Makers Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C L Cowton
L P Dixon





REGISTERED OFFICE: 3 Willow Road
NORTHALLERTON
North Yorkshire
DL7 8RX





REGISTERED NUMBER: 09904266 (England and Wales)





ACCOUNTANTS: King Hope
Chartered Accountants
34 Romanby Road
NORTHALLERTON
North Yorkshire
DL7 8NF

Dixon & Cowton Cabinet Makers Limited (Registered number: 09904266)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 19,003 41,310

CURRENT ASSETS
Stocks 22,672 5,192
Debtors 5 10,996 3,215
Cash at bank 22,936 46,874
56,604 55,281
CREDITORS
Amounts falling due within one year 6 (66,069 ) (71,582 )
NET CURRENT LIABILITIES (9,465 ) (16,301 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,538

25,009

CREDITORS
Amounts falling due after more than one
year

7

(3,557

)

(13,784

)

PROVISIONS FOR LIABILITIES 9 (5,426 ) (8,362 )
NET ASSETS 555 2,863

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 455 2,763
SHAREHOLDERS' FUNDS 555 2,863

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Dixon & Cowton Cabinet Makers Limited (Registered number: 09904266)

Balance Sheet - continued
31 December 2023


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 23 August 2024 and were signed on its behalf by:





C L Cowton - Director


Dixon & Cowton Cabinet Makers Limited (Registered number: 09904266)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Dixon & Cowton Cabinet Makers 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.

Turnover
Turnover represents the value of work completed on construction contracts excluding value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost

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 calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

The value of construction contracts in progress at the balance sheet date is assessed according to the percentage stage of completion, taking account of all anticipated future costs and revenue.

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.

Dixon & Cowton Cabinet Makers Limited (Registered number: 09904266)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 46,953 45,752 92,705
Additions 105 - 105
At 31 December 2023 47,058 45,752 92,810
DEPRECIATION
At 1 January 2023 31,379 20,016 51,395
Charge for year 10,975 11,437 22,412
At 31 December 2023 42,354 31,453 73,807
NET BOOK VALUE
At 31 December 2023 4,704 14,299 19,003
At 31 December 2022 15,574 25,736 41,310

The net book value of tangible fixed assets includes £ 18,653 (2022 - £ 32,224 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,267 2,888
Prepayments and accrued income 3,729 327
10,996 3,215

Dixon & Cowton Cabinet Makers Limited (Registered number: 09904266)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 10,228 10,228
Payments on account - 14,353
Trade creditors 12,675 12,549
Corporation tax 18,336 3,156
Social security and other taxes 12,135 12,310
Directors' current accounts 2,822 2,822
Accruals and deferred income 9,873 16,164
66,069 71,582

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 3,557 13,784

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 13,785 24,012

Obligations under hire purchase contracts are secured on the assets concerned.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 5,426 8,362

Deferred
tax
£   
Balance at 1 January 2023 8,362
Credit to Income Statement during year (2,936 )
Balance at 31 December 2023 5,426

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £50,161 (2022 - £43,161) were paid to the directors .

Dixon & Cowton Cabinet Makers Limited (Registered number: 09904266)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. RELATED PARTY DISCLOSURES - continued

At the balance sheet date the sum of £2,822 was due to directors (2022 - £2,822).

The directors have guaranteed the company's operating lease to the value of £12,000 per annum.

12. ULTIMATE CONTROLLING PARTY

The controlling parties are L Dixon and C L Cowton by virtue of their equal interest in the equity share capital of the company.