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REGISTERED NUMBER: 08064362 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

JAMES P DIXON LTD

JAMES P DIXON LTD (REGISTERED NUMBER: 08064362)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JAMES P DIXON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr J P Dixon
Mrs G A Dixon





REGISTERED OFFICE: Suite 4, East Barton Barns
East Barton Road
Great Barton
Bury St. Edmunds
Suffolk
IP31 2QY





REGISTERED NUMBER: 08064362 (England and Wales)





ACCOUNTANTS: Twinn Accountants Limited
Suite 4, East Barton Barns
East Barton Road
Great Barton
Bury St. Edmunds
Suffolk
IP31 2QY

JAMES P DIXON LTD (REGISTERED NUMBER: 08064362)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 245,077 275,626

CURRENT ASSETS
Stocks 5 79,675 33,306
Debtors 6 268,696 240,088
Cash at bank and in hand 68,728 43,242
417,099 316,636
CREDITORS
Amounts falling due within one year 7 455,521 280,493
NET CURRENT (LIABILITIES)/ASSETS (38,422 ) 36,143
TOTAL ASSETS LESS CURRENT
LIABILITIES

206,655

311,769

CREDITORS
Amounts falling due after more than one
year

8

(114,764

)

(221,615

)

PROVISIONS FOR LIABILITIES (16,907 ) (20,739 )
NET ASSETS 74,984 69,415

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 74,974 69,405
74,984 69,415

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

JAMES P DIXON LTD (REGISTERED NUMBER: 08064362)

BALANCE SHEET - continued
31 MAY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2025 and were signed on its behalf by:





Mr J P Dixon - Director


JAMES P DIXON LTD (REGISTERED NUMBER: 08064362)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

James P Dixon Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 2% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

JAMES P DIXON LTD (REGISTERED NUMBER: 08064362)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 June 2023 107,031 44,434 151,466
Additions - - 4,480
Disposals - - (10,000 )
At 31 May 2024 107,031 44,434 145,946
DEPRECIATION
At 1 June 2023 - 3,556 73,891
Charge for year - 889 20,514
Eliminated on disposal - - (10,000 )
At 31 May 2024 - 4,445 84,405
NET BOOK VALUE
At 31 May 2024 107,031 39,989 61,541
At 31 May 2023 107,031 40,878 77,575

JAMES P DIXON LTD (REGISTERED NUMBER: 08064362)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 194,440 10,927 508,298
Additions - 372 4,852
Disposals (5,000 ) (416 ) (15,416 )
At 31 May 2024 189,440 10,883 497,734
DEPRECIATION
At 1 June 2023 148,396 6,829 232,672
Charge for year 11,117 1,065 33,585
Eliminated on disposal (3,418 ) (182 ) (13,600 )
At 31 May 2024 156,095 7,712 252,657
NET BOOK VALUE
At 31 May 2024 33,345 3,171 245,077
At 31 May 2023 46,044 4,098 275,626

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023 58,085 36,000 94,085
Additions 230 - 230
At 31 May 2024 58,315 36,000 94,315
DEPRECIATION
At 1 June 2023 - 15,750 15,750
Charge for year 14,579 5,063 19,642
At 31 May 2024 14,579 20,813 35,392
NET BOOK VALUE
At 31 May 2024 43,736 15,187 58,923
At 31 May 2023 58,085 20,250 78,335

5. STOCKS
2024 2023
£    £   
Stocks 79,675 33,306

JAMES P DIXON LTD (REGISTERED NUMBER: 08064362)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 209,994 234,267
Other debtors 2,397 4,287
VAT 52,365 -
Prepayments 3,940 1,534
268,696 240,088

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 99,153 95,803
Hire purchase contracts 19,718 31,183
Trade creditors 319,228 137,355
Corporation tax 5,698 -
Social security and other taxes 2,727 2,029
VAT - 1,595
Other creditors 218 4,146
Accrued expenses 8,779 8,382
455,521 280,493

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 6,305 6,049
Bank loans - 2-5 years 20,564 19,728
Bank loans more 5 yr by instal 6,811 13,952
Hire purchase contracts 38,801 57,078
Directors' loan accounts 42,283 124,808
114,764 221,615

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,811 13,952