Company registration number 11196410 (England and Wales)
DR C. DIPPER LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
DR C. DIPPER LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
DR C. DIPPER LTD
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
397
706
Current assets
Debtors
5
7,395
3,978
Cash at bank and in hand
579
82
7,974
4,060
Creditors: amounts falling due within one year
6
(8,013)
(4,584)
Net current liabilities
(39)
(524)
Total assets less current liabilities
358
182
Provisions for liabilities
(75)
(177)
Net assets
283
5
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
281
3
Total equity
283
5
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on
22 October 2024
22 October 2024
and are signed on its behalf by:
Dr Christian Dipper
Director
Company registration number 11196410 (England and Wales)
DR C. DIPPER LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information
Dr C. Dipper Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 13 High Street, Gosforth, Newcastle Upon Tyne, NE3 4AD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% reducing balance
Computer equipment
33% straight line
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.
1.5
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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.
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.
DR C. DIPPER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Total
2
2
DR C. DIPPER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 4 -
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
5,990
2,544
Deferred tax
Origination and reversal of timing differences
(102)
Other adjustments
138
Total deferred tax
(102)
138
Total tax charge
5,888
2,682
4
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 March 2023 and 29 February 2024
225
848
1,073
Depreciation
At 1 March 2023
110
257
367
Depreciation charged in the year
29
280
309
At 29 February 2024
139
537
676
Carrying amount
At 29 February 2024
86
311
397
At 28 February 2023
115
591
706
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,780
Other debtors
4,615
3,978
7,395
3,978
DR C. DIPPER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
5,973
2,544
Other creditors
2,040
2,040
8,013
4,584
7
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
1 ordinary share of £1 each
1
1
1 ordinary A share of £1 each
1
1
2
2
8
Related party transactions
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due from related parties
£
£
Directors
4,615
3,976
There are no set terms as to repayment of this balance and no interest accruing thereon.