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COMPANY REGISTRATION NUMBER: 03829289
C DICKS AND SONS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 October 2024
C DICKS AND SONS LIMITED
STATEMENT OF FINANCIAL POSITION
31 October 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
587,714
526,354
CURRENT ASSETS
Debtors
6
38,092
26,486
Cash at bank and in hand
2,082,823
1,562,076
------------
------------
2,120,915
1,588,562
CREDITORS: amounts falling due within one year
7
295,954
225,293
------------
------------
NET CURRENT ASSETS
1,824,961
1,363,269
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
2,412,675
1,889,623
CREDITORS: amounts falling due after more than one year
8
14,476
36,449
PROVISIONS
113,119
122,412
------------
------------
NET ASSETS
2,285,080
1,730,762
------------
------------
CAPITAL AND RESERVES
Called up share capital fully paid
20
20
Capital redemption reserve
10
10
Profit and loss account
2,285,050
1,730,732
------------
------------
SHAREHOLDERS FUNDS
2,285,080
1,730,762
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
C DICKS AND SONS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:
Mr A T Dicks
Director
Company registration number: 03829289
C DICKS AND SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OCTOBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Northfield Lodge, Orlingbury Road, Isham, Kettering, Northamptonshire, NN14 1HW, United Kingdom.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured 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.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
Over 25 years straight line
Plant & Machinery
-
15% reducing balance
Motor vehicles
-
25% straight line
Equipment
-
33% straight line
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. TANGIBLE ASSETS
Freehold property
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 November 2023
292,598
643,936
59,997
67,845
1,064,376
Additions
14,687
10,031
165,394
3,700
193,812
Disposals
( 59,997)
( 59,997)
---------
---------
---------
--------
------------
At 31 October 2024
307,285
653,967
165,394
71,545
1,198,191
---------
---------
---------
--------
------------
Depreciation
At 1 November 2023
60,756
396,033
24,999
56,234
538,022
Charge for the year
12,292
36,563
41,349
7,250
97,454
Disposals
( 24,999)
( 24,999)
---------
---------
---------
--------
------------
At 31 October 2024
73,048
432,596
41,349
63,484
610,477
---------
---------
---------
--------
------------
Carrying amount
At 31 October 2024
234,237
221,371
124,045
8,061
587,714
---------
---------
---------
--------
------------
At 31 October 2023
231,842
247,903
34,998
11,611
526,354
---------
---------
---------
--------
------------
6. DEBTORS
2024
2023
£
£
Trade debtors
17,501
6,852
Other debtors
20,591
19,634
--------
--------
38,092
26,486
--------
--------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
35,003
63,257
Corporation tax
201,580
101,646
Social security and other taxes
853
2,594
Other creditors
58,518
57,796
---------
---------
295,954
225,293
---------
---------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Other creditors
14,476
36,449
--------
--------
Included within other creditors is an amount of £41,875 (2023 - £45,047) which is secured on the company's assets.