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Registration number: 04703533

J Dilnot-Smith Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

(filleted for filing purposes)

 

J Dilnot-Smith Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

J Dilnot-Smith Limited

Company Information

Directors

IP Dilnot-Smith

SA Dilnot-Smith

T E D Dilnot-Smith

Company secretary

Batchelor Coop Ltd

Registered office

184 Gladstone Road
Walmer
Deal
Kent
CT14 7EL

 

J Dilnot-Smith Limited

(Registration number: 04703533)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

2,106,853

2,198,939

Current assets

 

Stocks

7

2,525

60,894

Debtors

8

152,066

79,575

Cash at bank and in hand

 

36,245

92,826

 

190,836

233,295

Creditors: Amounts falling due within one year

9

(114,104)

(136,045)

Net current assets

 

76,732

97,250

Total assets less current liabilities

 

2,183,585

2,296,189

Creditors: Amounts falling due after more than one year

9

(994,187)

(1,055,848)

Provisions for liabilities

(49,341)

(92,034)

Net assets

 

1,140,057

1,148,307

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

1,139,957

1,148,207

Shareholders' funds

 

1,140,057

1,148,307

 

J Dilnot-Smith Limited

(Registration number: 04703533)
Balance Sheet as at 30 April 2024

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.

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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 September 2024 and signed on its behalf by:
 

.........................................
IP Dilnot-Smith
Director

.........................................
SA Dilnot-Smith
Director

.........................................
T E D Dilnot-Smith
Director

 

J Dilnot-Smith Limited

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.

The address of its registered office is:
184 Gladstone Road
Walmer
Deal
Kent
CT14 7EL
England

These financial statements were authorised for issue by the Board on 6 September 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.

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 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.

 

J Dilnot-Smith Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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% on written down value

Plant and equipment

15% on written down value

Fixtures and fittings

15% on written down value

Buildings

Over 50 years

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.

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.

 

J Dilnot-Smith Limited

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

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 15).

 

J Dilnot-Smith Limited

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

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

111,107

185,616

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

500,000

500,000

At 30 April 2024

500,000

500,000

Amortisation

At 1 May 2023

500,000

500,000

At 30 April 2024

500,000

500,000

Carrying amount

At 30 April 2024

-

-

 

J Dilnot-Smith Limited

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

6

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

2,092,576

354,069

84,258

699,139

3,230,042

Additions

12,576

5,523

922

-

19,021

At 30 April 2024

2,105,152

359,592

85,180

699,139

3,249,063

Depreciation

At 1 May 2023

292,617

192,494

64,338

481,654

1,031,103

Charge for the year

28,546

25,065

3,126

54,370

111,107

At 30 April 2024

321,163

217,559

67,464

536,024

1,142,210

Carrying amount

At 30 April 2024

1,783,989

142,033

17,716

163,115

2,106,853

At 30 April 2023

1,799,959

161,575

19,920

217,485

2,198,939

 

J Dilnot-Smith Limited

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

7

Stocks

2024
£

2023
£

Work in progress

-

58,489

Other inventories

2,525

2,405

2,525

60,894

8

Debtors

Current

2024
£

2023
£

Trade debtors

100,075

51,442

Prepayments

12,104

11,568

Other debtors

39,887

16,565

 

152,066

79,575

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

11

65,000

65,800

Taxation and social security

 

7,821

17,205

Other creditors

 

41,283

53,040

 

114,104

136,045

Due after one year

 

Loans and borrowings

11

994,187

1,055,848


Creditors include a bank loan which is secured of £50,000 (2023 - £50,800) by a fixed charge over the company's freehold property.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

994,187

1,055,848

Creditors include a bank loan which is secured of £975,437 (2023 - £1,022,098) by a fixed charge over the company's freehold property.

 

J Dilnot-Smith Limited

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

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100

         

11

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

975,437

1,022,098

Hire purchase contracts

18,750

33,750

994,187

1,055,848

2024
£

2023
£

Current loans and borrowings

Bank borrowings

50,000

50,800

Hire purchase contracts

15,000

15,000

65,000

65,800

 

J Dilnot-Smith Limited

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

12

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

IP Dilnot-Smith

Interest was charged by the company at 2.25%. Interest was charged by the director at 12%.

6,106

34,678

(21,340)

19,444

         
       

SA Dilnot-Smith

Interest was charged by the company at 2.25%. Interest was charged by the director at 12%.

6,105

34,679

(21,340)

19,444

         
       

 

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

IP Dilnot-Smith

Interest was charged by the company at 2.25%. Interest was charged by the director at 12%.

78,206

55,760

(127,860)

6,106

         
       

SA Dilnot-Smith

Interest was charged by the company at 2.25%. Interest was charged by the director at 12%.

78,205

55,760

(127,860)

6,105