DYKE YAXLEY LIMITED
Company registration number 04746482 (England and Wales)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
DYKE YAXLEY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
DYKE YAXLEY LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
157,521
267,605
Tangible assets
4
207,302
247,324
Investments
5
563,586
563,586
928,409
1,078,515
Current assets
Stocks
7,350
7,350
Debtors
6
2,698,242
2,543,262
Cash at bank and in hand
171,555
71,582
2,877,147
2,622,194
Creditors: amounts falling due within one year
7
(1,611,148)
(1,611,055)
Net current assets
1,265,999
1,011,139
Total assets less current liabilities
2,194,408
2,089,654
Creditors: amounts falling due after more than one year
8
(76,290)
(136,618)
Provisions for liabilities
(49,541)
(46,035)
Net assets
2,068,577
1,907,001
Capital and reserves
Called up share capital
9
747
764
Capital redemption reserve
317
300
Other reserves
88,609
125,234
Profit and loss reserves
1,978,904
1,780,703
Total equity
2,068,577
1,907,001
DYKE YAXLEY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -

For the financial year ended 30 April 2024 the company was entitled to exemption from audit 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 in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 December 2024 and are signed on its behalf by:
A  Young FCA
M  Bramwell FCA
Director
Director
Company registration number 04746482 (England and Wales)
DYKE YAXLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Dyke Yaxley Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Brassey Road, Old Potts Way, Shrewsbury, Shropshire, SY3 7FA.

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 to the extent that it is probable that the economic benefits will flow to the Company and the income can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a businesses combination over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.4
Tangible fixed assets

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:

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, fittings & equipment
10 years straight line
Computer equipment
5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

DYKE YAXLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stocks are stated at the lower of cost and net realisable value, being estimated selling price less costs to complete and sell. Work in progress includes labour and attributable overheads.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.10
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.

1.11
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.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

DYKE YAXLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
109
110
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
1,838,830
Amortisation and impairment
At 1 May 2023
1,571,225
Amortisation charged for the year
110,084
At 30 April 2024
1,681,309
Carrying amount
At 30 April 2024
157,521
At 30 April 2023
267,605
DYKE YAXLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023
1,101,375
Additions
56,226
At 30 April 2024
1,157,601
Depreciation and impairment
At 1 May 2023
854,051
Depreciation charged in the year
96,248
At 30 April 2024
950,299
Carrying amount
At 30 April 2024
207,302
At 30 April 2023
247,324
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
563,586
563,586
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,299,979
1,134,650
Other debtors
1,398,263
1,408,612
2,698,242
2,543,262
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
30,000
29,972
Trade creditors
390,068
380,008
Taxation and social security
777,480
626,068
Other creditors
413,600
575,007
1,611,148
1,611,055
DYKE YAXLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
7
Creditors: amounts falling due within one year
(Continued)
- 7 -

The bank loan and overdraft are secured.

 

8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
51,880
81,908
Other creditors
24,410
54,710
76,290
136,618

The bank loan is subject to a UK Government guarantee. The facility is provided through the Coronavirus Business Interruption Loan Scheme (CBILS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The CBILS guarantee is provided to the lender.

9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of 1p each
13,728
13,728
137
137
B Ordinary shares of 1p each
11,224
11,224
112
112
C Ordinary shares of 1p each
4,300
4,300
43
43
D Ordinary shares of 1p each
6,297
6,297
63
63
E Ordinary shares of 1p each
5,760
5,760
58
58
F Ordinary shares of 1p each
13,728
13,728
137
137
G Ordinary shares of 1p each
13,728
13,728
137
137
J Ordinary shares of 1p each
1,669
3,338
16
33
L Ordinary shares of 1p each
4,360
4,360
44
44
74,794
76,463
747
764

The Ordinary shares except for the J Ordinary shares, all have full voting and capital distribution (including on a winding up) rights. The C, F and L Ordinary shares shall confer upon the holder(s) thereof the right to three votes for every share held, d and the E Ordinary shares shall confer upon the holder(s) thereof the right to ten votes for every nine shares held. All shares except the J Ordinary shares are entitled to a dividend as declared from time to time by the board of Directors but all classes of Ordinary shares shall rank parri passu for entitlement. The shares are not redeemable.

During the period the company purchased 1,669 Ordinary J shares with a nominal value of £0.01 each. The acquisition price was £88,620 and the shares were cancelled on acquisition.

DYKE YAXLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
10
Operating lease commitments
Lessee

Operating lease payments represent rentals payable by the company for certain of its properties. Leases are negotiated for an average term of 15 years and rentals are fixed for an average of 5 years.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
669,771
761,356
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