REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th September 2024 |
for |
HERBERT DICKINSON (FURNITURE AND MUSIC) |
LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th September 2024 |
for |
HERBERT DICKINSON (FURNITURE AND MUSIC) |
LIMITED |
HERBERT DICKINSON (FURNITURE AND MUSIC) |
LIMITED (REGISTERED NUMBER: 00437306) |
Contents of the Financial Statements |
for the Year Ended 30th September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
HERBERT DICKINSON (FURNITURE AND MUSIC) |
LIMITED |
Company Information |
for the Year Ended 30th September 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
41 St Thomas's Road |
Chorley |
Lancashire |
PR7 1JE |
HERBERT DICKINSON (FURNITURE AND MUSIC) |
LIMITED (REGISTERED NUMBER: 00437306) |
Balance Sheet |
30th September 2024 |
30.9.24 | 30.9.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
HERBERT DICKINSON (FURNITURE AND MUSIC) |
LIMITED (REGISTERED NUMBER: 00437306) |
Balance Sheet - continued |
30th September 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
HERBERT DICKINSON (FURNITURE AND MUSIC) |
LIMITED (REGISTERED NUMBER: 00437306) |
Notes to the Financial Statements |
for the Year Ended 30th September 2024 |
1. | STATUTORY INFORMATION |
Herbert Dickinson (Furniture and Music) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Income is measured at the fair value of the consideration received or receivable and represents amounts received for goods supplied and services rendered, stated net of discounts and of Value Added Tax. |
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
In a departure from FRS 102 Section 1A for small entities, no depreciation is provided in respect of freehold properties. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. The directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view. |
Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. |
If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all 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. |
HERBERT DICKINSON (FURNITURE AND MUSIC) |
LIMITED (REGISTERED NUMBER: 00437306) |
Notes to the Financial Statements - continued |
for the Year Ended 30th September 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
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 includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities. |
Going concern |
Since the balance date, the directors have made the decision for the company to cease trading. As a result of this, the financial statements have been prepared on a basis other than that of a going concern, which includes, where appropriate, writing down the company's assets to net realisable value. Provision has also been made for any contractual commitments that have become onerous at the balance sheet date. The financial statements do not include any provision for the future costs of terminating the business of the company except to the extent that such costs were committed at the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
HERBERT DICKINSON (FURNITURE AND MUSIC) |
LIMITED (REGISTERED NUMBER: 00437306) |
Notes to the Financial Statements - continued |
for the Year Ended 30th September 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor |
property | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1st October 2023 |
Disposals | ( |
) | ( |
) |
Revaluations | ( |
) | ( |
) |
At 30th September 2024 |
DEPRECIATION |
At 1st October 2023 |
Charge for year |
At 30th September 2024 |
NET BOOK VALUE |
At 30th September 2024 |
At 30th September 2023 |
Cost or valuation at 30th September 2024 is represented by: |
Fixtures |
Freehold | and | Motor |
property | fittings | vehicles | Totals |
£ | £ | £ | £ |
Valuation in 1994 | 25,000 | - | - | 25,000 |
Valuation in 2007 | 316,722 | - | - | 316,722 |
Valuation in 2023 | 93,210 | - | - | 93,210 |
Valuation in 2024 | (161,857 | ) | - | - | (161,857 | ) |
Cost | 218,925 | 28,962 | 6,000 | 253,887 |
492,000 | 28,962 | 6,000 | 526,962 |
If freehold property had not been revalued it would have been included at the following historical cost: |
30.9.24 | 30.9.23 |
£ | £ |
Cost | 218,925 | 255,278 |
Freehold property was valued on an open market basis on 30th September 2024 by the directors . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
VAT |
Prepayments and accrued income |
HERBERT DICKINSON (FURNITURE AND MUSIC) |
LIMITED (REGISTERED NUMBER: 00437306) |
Notes to the Financial Statements - continued |
for the Year Ended 30th September 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Trade creditors |
Social security and other taxes |
Directors' current accounts | 13,500 | 13,500 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Directors' current accounts | 188,250 | 288,250 |
8. | RELATED PARTY DISCLOSURES |
At the 30th September 2024 the company owed £201,750 to its directors (2023: £301,750). No interest has been charged to the company in respect of these loans and there are no formal repayment dates for these loans. £188,250 (2023: £288,250) of these loans is classified in creditors due after more than one year. |
9. | POST BALANCE SHEET EVENTS |
The company's directors previously made the decision to voluntarily cease the trade of the company and are currently in the process of winding down all operations. As a result, these accounts have not been prepared on the going concern basis. The directors anticipate that the company will have sufficient funds available to settle all liabilities in full. |