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Registered number: 11568427
Dawes Accountants Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 April 2024
Dawes Accountants Limited
ICAEW
100 Queen Street
Newton Abbot
TQ12 2EU
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 11568427
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 159,378 170,942
Tangible Assets 5 301,389 305,216
460,767 476,158
CURRENT ASSETS
Stocks 82,500 67,500
Debtors 95,285 124,923
Cash at bank and in hand 23,636 12,399
201,421 204,822
Creditors: Amounts Falling Due Within One Year (164,657 ) (116,099 )
NET CURRENT ASSETS (LIABILITIES) 36,764 88,723
TOTAL ASSETS LESS CURRENT LIABILITIES 497,531 564,881
Creditors: Amounts Falling Due After More Than One Year (429,867 ) (424,021 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (6,447 ) (5,674 )
NET ASSETS 61,217 135,186
CAPITAL AND RESERVES
Called up share capital 8 303 303
Revaluation reserve 10 40,611 40,611
Profit and Loss Account 20,303 94,272
SHAREHOLDERS' FUNDS 61,217 135,186
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 April 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Ashley Dawes
Director
30/01/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Dawes Accountants Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11568427 . The registered office is 100 Queen Street, Newton Abbot, Devon, TQ12 2EU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Revaluation Policy
Leasehold Length of lease
Plant & Machinery 20% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 20% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
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 timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees ( Full time and Part time ), including directors, during the year was: 15 (2023: 16)
15 16
4. Intangible Assets
Total
£
Cost
As at 1 May 2023 210,926
As at 30 April 2024 210,926
Amortisation
As at 1 May 2023 39,984
Provided during the period 11,564
As at 30 April 2024 51,548
Net Book Value
As at 30 April 2024 159,378
As at 1 May 2023 170,942
5. Tangible Assets
Total
£
Cost
As at 1 May 2023 337,703
Additions 7,832
As at 30 April 2024 345,535
Depreciation
As at 1 May 2023 32,487
Provided during the period 11,659
As at 30 April 2024 44,146
Net Book Value
As at 30 April 2024 301,389
As at 1 May 2023 305,216
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6. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 242,574 134,134
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 6,447 5,674
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 303 303
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year - 11,766
- 11,766
10. Reserves
Revaluation Reserve
£
As at 1 May 2023 40,611
As at 30 April 2024 40,611
11. Related Party Transactions
Included within other debtors is an amount owed by Accountant Jobs Ltd £ 32,949 (2023: £ 30,097) a company owned and controlled by the Directors.
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