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Registration number: 08789293

Dibble Brothers Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Dibble Brothers Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 16

 

Dibble Brothers Limited

Company Information

Directors

Mr RJ Dibble

Mr CJ Dibble

Registered office

24 Southfield
Polegate
East Sussex
BN26 5LX

Accountants

Gold Accountants Limited
24 Southfield
Polegate
East Sussex
BN26 5LX

 

Dibble Brothers Limited

Directors' Report for the Year Ended 30 November 2023

The directors present their report and the financial statements for the year ended 30 November 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr RJ Dibble

Mr CJ Dibble

Principal activity

The principal activity of the company is garden maintenance services

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 

.........................................
Mr RJ Dibble
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Dibble Brothers Limited
for the Year Ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dibble Brothers Limited for the year ended 30 November 2023 as set out on pages 4 to 16 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Dibble Brothers Limited, as a body, in accordance with the terms of our engagement letter dated 6 December 2016. Our work has been undertaken solely to prepare for your approval the accounts of Dibble Brothers Limited and state those matters that we have agreed to state to the Board of Directors of Dibble Brothers Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dibble Brothers Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Dibble Brothers Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Dibble Brothers Limited. You consider that Dibble Brothers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Dibble Brothers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Gold Accountants Limited
24 Southfield
Polegate
East Sussex
BN26 5LX

29 November 2024

 

Dibble Brothers Limited

Profit and Loss Account for the Year Ended 30 November 2023

Note

2023
£

2022
£

Turnover

 

209,085

225,321

Cost of sales

 

(40,515)

(52,532)

Gross profit

 

168,570

172,789

Administrative expenses

 

(139,872)

(137,030)

Operating profit

 

28,698

35,759

Other interest receivable and similar income

 

6

1

Profit before tax

4

28,704

35,760

Tax on profit

 

(6,145)

(7,434)

Profit for the financial year

 

22,559

28,326

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Dibble Brothers Limited

Statement of Comprehensive Income for the Year Ended 30 November 2023

2023
£

2022
£

Profit for the year

22,559

28,326

Total comprehensive income for the year

22,559

28,326

 

Dibble Brothers Limited

(Registration number: 08789293)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

3,501

7,162

Tangible assets

6

10,429

13,200

 

13,930

20,362

Current assets

 

Stocks

7

1,760

1,200

Debtors

8

72,605

68,428

 

74,365

69,628

Creditors: Amounts falling due within one year

9

(61,328)

(45,583)

Net current assets

 

13,037

24,045

Total assets less current liabilities

 

26,967

44,407

Creditors: Amounts falling due after more than one year

9

(25,833)

(35,833)

Net assets

 

1,134

8,574

Capital and reserves

 

Called up share capital

10

2

2

Retained earnings

1,132

8,572

Shareholders' funds

 

1,134

8,574

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 

.........................................
Mr CJ Dibble
Director

 

Dibble Brothers Limited

Statement of Changes in Equity for the Year Ended 30 November 2023

Share capital
£

Retained earnings
£

Total
£

At 1 December 2022

2

8,573

8,575

Profit for the year

-

22,559

22,559

Dividends

-

(30,000)

(30,000)

At 30 November 2023

2

1,132

1,134

Share capital
£

Retained earnings
£

Total
£

At 1 December 2021

2

10,246

10,248

Profit for the year

-

28,326

28,326

Dividends

-

(30,000)

(30,000)

At 30 November 2022

2

8,572

8,574

 

Dibble Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
24 Southfield
Polegate
East Sussex
BN26 5LX
United Kingdom

These financial statements were authorised for issue by the Board on 29 November 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.

 

Dibble Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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

Furniture, fixtures and equipment

25% straight line

Plant & machinery

20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise fee

10 year straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Dibble Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

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 directors) during the year, was 4 (2022 - 5).

4

Profit before tax

Arrived at after charging/(crediting)

 

Dibble Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

2023
£

2022
£

Depreciation expense

2,931

3,985

Amortisation expense

3,662

3,662

 

Dibble Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2022

36,617

36,617

At 30 November 2023

36,617

36,617

Amortisation

At 1 December 2022

29,455

29,455

Amortisation charge

3,661

3,661

At 30 November 2023

33,116

33,116

Carrying amount

At 30 November 2023

3,501

3,501

At 30 November 2022

7,162

7,162

6

Tangible assets

Fixtures and fittings
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 December 2022

3,058

37,223

40,281

Additions

119

42

161

At 30 November 2023

3,177

37,265

40,442

Depreciation

At 1 December 2022

2,740

24,341

27,081

Charge for the year

347

2,585

2,932

At 30 November 2023

3,087

26,926

30,013

Carrying amount

At 30 November 2023

90

10,339

10,429

At 30 November 2022

318

12,882

13,200

7

Stocks

2023
£

2022
£

Raw materials and consumables

1,760

1,200

 

Dibble Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

8

Debtors

Current

2023
£

2022
£

Trade debtors

13,676

3,479

Prepayments

1,735

1,734

Other debtors

57,194

63,215

 

72,605

68,428

 

Dibble Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

11

249

3,601

Trade creditors

 

(3,021)

3,281

Taxation and social security

 

38,679

18,202

Accruals and deferred income

 

19,800

19,800

Other creditors

 

5,621

699

 

61,328

45,583

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

25,833

35,833

10

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

11

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

25,833

35,833

Current loans and borrowings

2023
£

2022
£

Bank borrowings

-

(1,000)

Bank overdrafts

249

4,601

249

3,601

 

Dibble Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

12

Dividends

Final dividends paid

2023
£

2022
£

Final dividend of £15,000.00 per each Ordinary shares

30,000

30,000

 

 

13

Related party transactions

 

Dibble Brothers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

28,200

22,740

Contributions paid to money purchase schemes

583

77

28,783

22,817