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Registration number: 12720657

K Dawson Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 July 2024

 

K Dawson Ltd

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 7

 

K Dawson Ltd

Company Information

Directors

K L Dawson

C Dawson

Registered office

76 Front Street
Prudhoe
Northumberland
NE42 5PU

Accountants

Heritage Accountancy Limited
Chartered Certified Accountants76 Front Street
Prudhoe
Northumberland
NE42 5PU

 

K Dawson Ltd

(Registration number: 12720657)
Abridged Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,165

3,903

Current assets

 

Debtors

5

53,790

48,186

Cash at bank and in hand

 

40,027

83,696

 

93,817

131,882

Prepayments and accrued income

 

605

272

Creditors: Amounts falling due within one year

(6,934)

(4,429)

Net current assets

 

87,488

127,725

Net assets

 

89,653

131,628

Capital and reserves

 

Called up share capital

6

4

4

Retained earnings

89,649

131,624

Shareholders' funds

 

89,653

131,628

For the financial year ending 31 July 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and 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 29 January 2025 and signed on its behalf by:
 

.........................................
C Dawson
Director

 

K Dawson Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
76 Front Street
Prudhoe
Northumberland
NE42 5PU
England

These financial statements were authorised for issue by the Board on 29 January 2025.

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 abridged 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 abridged 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current 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.

 

K Dawson Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

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.

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

Fixtures & fittings

15% reducing balance

Office equipment

25% straight line

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.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

K Dawson Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

8,750

8,750

Additions

262

262

At 31 July 2024

9,012

9,012

Depreciation

At 1 August 2023

4,847

4,847

Charge for the year

2,000

2,000

At 31 July 2024

6,847

6,847

Carrying amount

At 31 July 2024

2,165

2,165

At 31 July 2023

3,903

3,903

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

K Dawson Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

2024

2023

No.

£

No.

£

Ordinary Share Capital of £1 each

2

2

2

2

A Ordinary Share Capital of £1 each

1

1

1

1

B Ordinary Share Capital of £1 each

1

1

1

1

4

4

4

4

7

Related party transactions

 

K Dawson Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,570

Contributions paid to money purchase schemes

2,400

2,400

14,970

14,970