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REGISTERED NUMBER: SC028536 (Scotland)















J. & H.M. DICKSON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






J. & H.M. DICKSON LIMITED (REGISTERED NUMBER: SC028536)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 10

Accountants' Report 11

J. & H.M. DICKSON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Alan Dickson
Bruce Jamie Dickson





SECRETARY: Barbara Dickson





REGISTERED OFFICE: 15 Seath Road
Rutherglen Industrial Estate
Rutherglen
Glasgow
G73 1RW





REGISTERED NUMBER: SC028536 (Scotland)





ACCOUNTANTS: Azets
Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA

J. & H.M. DICKSON LIMITED (REGISTERED NUMBER: SC028536)

BALANCE SHEET
30 SEPTEMBER 2024

30/9/24 30/9/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,315,207 1,277,508

CURRENT ASSETS
Stocks 5 453,546 421,381
Debtors 6 260,341 920,421
Cash at bank 549,475 477,682
1,263,362 1,819,484
CREDITORS
Amounts falling due within one year 7 1,025,481 1,546,136
NET CURRENT ASSETS 237,881 273,348
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,553,088

1,550,856

CREDITORS
Amounts falling due after more than one
year

8

(5,423

)

(6,490

)

PROVISIONS FOR LIABILITIES 9 (54,170 ) (41,814 )

ACCRUALS AND DEFERRED INCOME (13,428 ) (13,759 )
NET ASSETS 1,480,067 1,488,793

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 1,470,067 1,478,793
SHAREHOLDERS' FUNDS 1,480,067 1,488,793

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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 financial statements, so far as applicable to the company.

J. & H.M. DICKSON LIMITED (REGISTERED NUMBER: SC028536)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2024 and were signed on its behalf by:





Alan Dickson - Director


J. & H.M. DICKSON LIMITED (REGISTERED NUMBER: SC028536)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

J & H.M. Dickson Limited is a private limited company, limited by shares, and registered in Scotland. The company's registered number is SC028536 and registered office address is 15 Seath Road,Rutherglen Industrial Estate, Rutherglen,Glasgow G73 1RW.

The nature of the Company's operations and its principal activity is that of sack manufacturer.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

Inventories are assessed for evidence of obsolescence and a provision is made against any inventory unlikely to be sold, or where stock is sold post year end at a loss.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax. The company's policy is to recognise a sale when substantively all risks and rewards in connection with the goods have been passed to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

J. & H.M. DICKSON LIMITED (REGISTERED NUMBER: SC028536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost.

Subsequent to initial recognition
i. investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in profit or loss in the period that they arise; and

ii. no depreciation is provided in respect of investment properties applying the fair value model.

If a reliable measure is not available without undue cost or effort for an item of investment property, this item is thereafter accounted for as tangible fixed assets in accordance with section 17 until a reliable measure of fair value becomes available.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

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.

Derivative financial instruments
Derivative financial instruments are recognised at fair value. The gain or loss on remeasurement to fair value is recognised immediately in profit or loss. However, where derivatives qualify for hedge accounting, recognition of any resultant gain or loss depends on the nature of the item being hedged.

Foreign currency forward contracts
Foreign currency forward contracts are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at fair value through profit or loss. Outstanding derivatives at year end are included within other debtors.


J. & H.M. DICKSON LIMITED (REGISTERED NUMBER: SC028536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

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

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leases
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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

J. & H.M. DICKSON LIMITED (REGISTERED NUMBER: SC028536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.

An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 21 ) .

J. & H.M. DICKSON LIMITED (REGISTERED NUMBER: SC028536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2023 1,302,931 426,225 113,667
Additions 23,875 59,524 7,796
Disposals - (21,092 ) -
At 30 September 2024 1,326,806 464,657 121,463
DEPRECIATION
At 1 October 2023 169,837 372,936 87,210
Charge for year 7,597 23,065 4,275
Eliminated on disposal - (17,339 ) -
At 30 September 2024 177,434 378,662 91,485
NET BOOK VALUE
At 30 September 2024 1,149,372 85,995 29,978
At 30 September 2023 1,133,094 53,289 26,457

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 63,205 32,101 1,938,129
Additions - 5,356 96,551
Disposals - - (21,092 )
At 30 September 2024 63,205 37,457 2,013,588
DEPRECIATION
At 1 October 2023 14,162 16,476 660,621
Charge for year 12,262 7,900 55,099
Eliminated on disposal - - (17,339 )
At 30 September 2024 26,424 24,376 698,381
NET BOOK VALUE
At 30 September 2024 36,781 13,081 1,315,207
At 30 September 2023 49,043 15,625 1,277,508

5. STOCKS
30/9/24 30/9/23
£    £   
Work-in-progress 8,026 2,004
Finished goods 445,520 419,377
453,546 421,381

J. & H.M. DICKSON LIMITED (REGISTERED NUMBER: SC028536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Trade debtors 256,503 918,419
Prepayments and accrued income 3,838 2,002
260,341 920,421

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Other loans 1,067 1,067
Trade creditors 633,581 1,038,442
Social security and other taxes 95,527 121,272
Value added tax 214,093 288,946
Other creditors 41,934 55,961
Directors' current accounts 1,620 9,037
Accruals and deferred income 37,659 31,411
1,025,481 1,546,136

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/9/24 30/9/23
£    £   
Other loans - 2-5 years 4,267 4,267
Other loans more 5yrs instal 1,156 2,223
5,423 6,490

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 1,156 2,223

9. PROVISIONS FOR LIABILITIES
30/9/24 30/9/23
£    £   
Deferred tax 54,170 41,814

Deferred
tax
£   
Balance at 1 October 2023 41,814
Accelerated capital allowances 12,356
Balance at 30 September 2024 54,170

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company benefitted from an interest free, unsecured loan from its director Alan Dickson. The balance outstanding at 30th September 2024 was £1,620 (2023 - £9,037).

J. & H.M. DICKSON LIMITED (REGISTERED NUMBER: SC028536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Alan Dickson.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
J. & H.M. DICKSON LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J. & H.M. Dickson Limited for the year ended 30 September 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes 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 J. & H.M. Dickson Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J. & H.M. Dickson Limited and state those matters that we have agreed to state to the Board of Directors of J. & H.M. Dickson Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J. & H.M. Dickson Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that J. & H.M. Dickson Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of J. & H.M. Dickson Limited. You consider that J. & H.M. Dickson 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 financial statements of J. & H.M. Dickson 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 financial statements.






Azets
Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA


12 December 2024