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Registered Number: 12353962
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2023

for

DIXON-JONES PROPERTIES LIMITED

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 350,128    350,192 
350,128    350,192 
Current assets      
Debtors 4 1,802    1,789 
Creditors: amount falling due within one year (248,929)   (255,862)
Net current assets (247,127)   (254,073)
 
Total assets less current liabilities 103,001    96,119 
Provisions for liabilities 5 (16,423)   (16,435)
Net assets 86,578    79,684 
 

Capital and reserves
     
Called up share capital 3    3 
Profit and loss account 86,575    79,681 
Shareholders' funds 86,578    79,684 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 11 September 2024 and were signed on its behalf by:


-------------------------------
Heather Dixon-Jones
Director
1
General Information
Dixon-Jones Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 12353962, registration address 70 Coychurch Road, Bridgend, CF31 2AP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
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 companys activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Taxation
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 taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
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.
Tangible fixed 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:
Freehold and Leasehold property 0%
Plant and machinery 20% straight line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 3).
3.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 01 January 2023 300,000    320    300,320 
Additions    
Disposals    
Revaluations 50,000      50,000 
At 31 December 2023 350,000    320    350,320 
Depreciation
At 01 January 2023   128    128 
Charge for year   64    64 
On disposals    
At 31 December 2023   192    192 
Net book values
Closing balance as at 31 December 2023 350,000    128    350,128 
Opening balance as at 01 January 2023 350,000    192    350,192 

Included within the net book value of land and buildings above is £175,000 (2022 - £175,000) in respect of freehold land and buildings and £175,000 (2022 - £175,000) in respect of long leasehold land and buildings.

Investment properties

The fair value of the company's leasehold property was revalued on 31 December 2023 at £175,000.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £138,888.

The fair value of the company's freehold property was revalued on 31 December 2023 at £175,000.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £124,804.

The properties were revalued by the company directors on an open market value basis.

There has been no valuation of investment property by an independent valuer.

4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 1,731    1,428 
Other Debtors 71    361 
1,802    1,789 

5.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 16,423    16,435 
16,423    16,435 

6.

Reserves

The profit and loss account includes non distributable reserves totaling £69,909 (2022 £69,909). These amounts relate to the revaluation of property.
2