General Information
Dixon-Jones Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 12353962, registration address 70 Coychurch Road, Bridgend, CF31 2AP.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
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 companys 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.
Taxation
The tax expense for the period comprises current and deferred 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.
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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
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.
Tangible fixed 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:
| Freehold and Leasehold property |
0% |
| Plant and machinery |
20% straight line |
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
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.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 3 (2023 : 3).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Land and buildings |
|
Plant and machinery etc |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 January 2024 |
350,000 |
|
320 |
|
350,320 |
| Additions |
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
| At 31 December 2024 |
350,000 |
|
320 |
|
350,320 |
| Depreciation |
| At 01 January 2024 |
- |
|
192 |
|
192 |
| Charge for year |
- |
|
64 |
|
64 |
| On disposals |
- |
|
- |
|
- |
| At 31 December 2024 |
- |
|
256 |
|
256 |
| Net book values |
| Closing balance as at 31 December 2024 |
350,000 |
|
64 |
|
350,064 |
| Opening balance as at 01 January 2024 |
350,000 |
|
128 |
|
350,128 |
Included within the net book value of land and buildings above is £175,000 (2023 - £175,000) in respect of freehold land and buildings and £175,000 (2023 - £175,000) in respect of long leasehold land and buildings.
Investment properties
The fair value of the company's leasehold property was revalued on 31 December 2024 at £175,000.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £138,888.
The fair value of the company's freehold property was revalued on 31 December 2024 at £175,000.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £124,804.
The properties were revalued by the company directors on an open market value basis.
There has been no valuation of investment property by an independent valuer.
|
| 4. |
Debtors: amounts falling due within one year
|
2024
£ |
|
2023
£ |
| Trade Debtors |
78 |
|
1,731 |
| Other Debtors |
130 |
|
71 |
|
208 |
|
1,802 |
|
| 5. |
Provisions for liabilities
|
2024
£ |
|
2023
£ |
| Deferred Tax |
16,423 |
|
16,423 |
| Charged to Profit & Loss |
(12) |
|
0 |
|
16,411 |
|
16,423 |
|
| 6. |
Reserves
The profit and loss account includes non distributable reserves totalling £69,909 (2023 £69,909). These amounts relate to the revaluation of property.
|
2
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