01 April 2023 31 March 2024 No principle activity is included 01482283 2023-04-01 01482283 2024-03-31 01482283 2023-04-01 2024-03-31 01482283 2023-03-31 01482283 2022-04-01 2023-03-31 01482283 uk-core:WithinOneYear 2024-03-31 01482283 uk-core:WithinOneYear 2023-03-31 01482283 uk-core:ShareCapital 2024-03-31 01482283 uk-core:ShareCapital 2023-03-31 01482283 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 01482283 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 01482283 uk-bus:Director1 2023-04-01 2024-03-31 01482283 uk-bus:RegisteredOffice 2023-04-01 2024-03-31 01482283 uk-curr:PoundSterling 2023-04-01 2024-03-31 01482283 uk-core:LandBuildings uk-core:OwnedOrFreeholdAssets 2023-03-31 01482283 uk-core:VehiclesPlantMachinery 2023-03-31 01482283 uk-core:FurnitureFittingsToolsEquipment 2023-03-31 01482283 uk-core:LandBuildings uk-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01482283 uk-core:VehiclesPlantMachinery 2023-04-01 2024-03-31 01482283 uk-core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 01482283 uk-core:LandBuildings uk-core:OwnedOrFreeholdAssets 2024-03-31 01482283 uk-core:VehiclesPlantMachinery 2024-03-31 01482283 uk-core:FurnitureFittingsToolsEquipment 2024-03-31 01482283 uk-core:WithinOneYear 2023-04-01 2024-03-31 01482283 uk-bus:FRS102 2023-04-01 2024-03-31 01482283 uk-bus:FullAccounts 2023-04-01 2024-03-31 01482283 uk-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01482283 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  F J DAKIN & SON LTD
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 31 MARCH 2024
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  F J DAKIN & SON LTD
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 MARCH 2024
       
       
  DIRECTORS
       
       
       
  SECRETARY
       
  Mrs S K Dakin
       
  REGISTERED OFFICE
       
  Village Farm
36 Hall Gate
Diseworth
Derby
DE74 2QJ
       
       
  COMPANY REGISTERED NUMBER
       
  01482283
       
       
  BANKERS
       
  HSBC Bank plc
       
       
  ACCOUNTANTS
       
  Jonathan Loescher and Co Ltd
  Chartered Accountants
  The Steading
Jerrys Lane
Packington
Nr Lichfield
Staffs
WS14 9QA
       
       
  CONTENTS
       
  Pages
       
       
  2-3 Statement of Financial Position  
       
       
  4-8 Notes to the Financial Statements  
       
     
  page 1
  F J DAKIN & SON LTD
  Company registered number: 01482283
  STATEMENT OF FINANCIAL POSITION AT 31 March 2024
           
    Note 2024 2023
      £ £ £
  FIXED ASSETS
  Property, plant and equipment 3 297,989 315,739
  CURRENT ASSETS    
  Inventories   97,222 107,195
  Debtors 4 37,155 26,176
  Cash at bank and in hand   1,213 9,222
      135,590 142,593
  CREDITORS: Amounts falling due within one year 5 321,715 301,681
  NET CURRENT LIABILITIES   (186,125) (159,088)
  TOTAL ASSETS LESS CURRENT LIABILITIES   111,864 156,651
           
  PROVISIONS FOR LIABILITIES   - (9,000)
  NET ASSETS   £111,864 £147,651
       
  CAPITAL AND RESERVES
  Called up share capital   99 99
  Retained earnings   111,765 147,552
  SHAREHOLDERS' FUNDS   £111,864 £147,651
       
  The notes on pages 4-8 form part of these financial statements
   
  page 2
  F J DAKIN & SON LTD
  Company registered number: 01482283
  STATEMENT OF FINANCIAL POSITION AT 31 March 2024 (CONT.)
           
    Note 2024 2023
      £ £ £
       
       
  In approving these financial statements as directors of the company we hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
       
  The financial statements were approved and authorised for issue by the board of directors on 05 November 2024
 
  Signed on behalf of the board of directors
 
 
       
  Mr I E Dakin, Director
       
       
  The notes on pages 4-8 form part of these financial statements
   
  page 3
  F J DAKIN & SON LTD
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 31 MARCH 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  F J Dakin & Son Ltd is a company limited by shares incorporated in England and Wales.
         
  Registered office:
  Village Farm
36 Hall Gate
Diseworth
Derby
DE74 2QJ
         
  Basis of accounting
         
  These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Borrowing costs
         
  Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
         
 
         
1e. Taxation
         
  Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
         
 
         
 
  The notes on pages 4-8 form part of these financial statements
   
  page 4
  F J DAKIN & SON LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MARCH 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
       
1f. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
         
1g. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
         
1h. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1i. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
         
1j. Interest bearing borrowings
         
  All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.
         
         
1k. Leased assets
         
  Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
  The notes on pages 4-8 form part of these financial statements
   
  page 5
  F J DAKIN & SON LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MARCH 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1l. Foreign currencies
         
  Transactions in foreign currencies are initially recorded in the entity’s functional currency by applying the spot exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
         
         
1m. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
         
1n. Discontinued operations
         
  A discontinued operation is a component of the Company's business, the operations and cash flows of which can be clearly distinguished from the rest of the Company and which represents a separate major line of business or geographical area of operations, or is part of a signal coordinated disposal of a separate major line of business or geographical area of operations, or is a subsidiary acquired exclusively with a review to resale.
         
         
1o. Provisions
         
  Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
         
         
1p. Judgements and key sources of estimation uncertainty
         
  In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
         
 
         
 
         
  The notes on pages 4-8 form part of these financial statements
   
  page 6
  F J DAKIN & SON LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MARCH 2024
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2024 2023
    No. No.
  Management and administration 1 1
  Production and sales 1 1
    2 2
   
           
3. PROPERTY, PLANT AND EQUIPMENT
      Plant & Fixtures &  
    Freehold Machinery Equipment Total
    £ £ £ £
  Cost
           
  At 1 April 2023 263,854 401,553 17,295 682,702
  Additions other than through business combinations - 360 - 360
           
  At 31 March 2024 263,854 401,913 17,295 683,062
   
  Depreciation
           
  At 1 April 2023 20,198 329,471 17,294 366,963
  For the year - 18,110 - 18,110
  At 31 March 2024 20,198 347,581 17,294 385,073
   
  Net Book Amounts
           
  At 31 March 2024 £243,656 £54,332 £1 £297,989
  At 31 March 2023 £243,656 £72,082 £1 £315,739
   
       
       
4. DEBTORS 2024 2023
    £ £
  Trade debtors 37,155 19,217
  Social security and other taxes - 3,850
  Other debtors - 3,109
    £37,155 £26,176
   
  The notes on pages 4-8 form part of these financial statements
   
  page 7
  F J DAKIN & SON LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MARCH 2024
       
       
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2024 2023
    £ £
  Finance leases and hire purchase contracts - 4,900
  Trade creditors 6,578 3,392
  Other taxes and social security 530 -
  Other creditors 308,707 290,439
  Accruals and deferred income 5,900 2,950
    £321,715 £301,681
   
  The company has granted a fixed and floating charge on all its assets and a legal charge over freehold land to secure the bank overdraft.
  The notes on pages 4-8 form part of these financial statements
   
  page 8