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Registration number: 12552100

Dixons Flooring Devon Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Dixons Flooring Devon Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Dixons Flooring Devon Ltd

Company Information

Director

Mr Simon Paul Dixon

Company secretary

Mr Simon Paul Dixon

Registered office

Heath House
Heath Road
Brixham
Devon
TQ5 9BH

Accountants

Neil Wilson Accountancy Limited
Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

Dixons Flooring Devon Ltd

(Registration number: 12552100)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,057

2,250

Current assets

 

Debtors

5

10,429

5,046

Cash at bank and in hand

 

22,088

36,175

 

32,517

41,221

Creditors: Amounts falling due within one year

6

(12,374)

(20,258)

Net current assets

 

20,143

20,963

Total assets less current liabilities

 

23,200

23,213

Provisions for liabilities

(570)

(570)

Net assets

 

22,630

22,643

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

22,628

22,641

Shareholders' funds

 

22,630

22,643

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 October 2024
 

.........................................
Mr Simon Paul Dixon
Company secretary and director

 

Dixons Flooring Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
Heath House
Heath Road
Brixham
Devon
TQ5 9BH

These financial statements were authorised for issue by the director on 2 October 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.

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.

Tax

The tax expense for the period comprises current 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.

 

Dixons Flooring Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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

Motor Vehicles

25% reducing balance

Office Equipment

25% reducing balance

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.

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.

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 Flooring Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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 the director) during the year, was 2 (2023 - 2).

 

Dixons Flooring Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

-

4,000

4,000

Additions

1,827

-

1,827

At 30 April 2024

1,827

4,000

5,827

Depreciation

At 1 May 2023

-

1,750

1,750

Charge for the year

457

563

1,020

At 30 April 2024

457

2,313

2,770

Carrying amount

At 30 April 2024

1,370

1,687

3,057

At 30 April 2023

-

2,250

2,250

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

5,637

-

Amounts owed by related parties

9

-

5,000

Other debtors

 

4,792

46

   

10,429

5,046

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

4,467

-

Taxation and social security

6,747

5,869

Accruals and deferred income

1,160

1,425

Other creditors

-

12,964

12,374

20,258

 

Dixons Flooring Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

8

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £2,000.00 (2023 - £2,000.00) per ordinary share

 

4,000

 

4,000

         

9

Related party transactions

 

Dixons Flooring Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Transactions with the director

2024

At 1 May 2023
£

Advances to director
£

At 30 April 2024
£

Mr Simon Paul Dixon

Director's loan

(12,964)

8,218

(4,746)

       
     

 

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Mr Simon Paul Dixon

Director's loan

(10,915)

2,766

(4,815)

(12,964)

         
       

 

 

Dixons Flooring Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,570

Contributions paid to money purchase schemes

4,500

3,750

17,070

16,320

Dividends paid to the director

   

2024
£

 

2023
£

Mr Simon Paul Dixon

       

Interim dividend paid

 

4,000

 

4,000