REGISTERED NUMBER: 09904266 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Dixon & Cowton Cabinet Makers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C L Cowton

L P Dixon

REGISTERED OFFICE:

3 Willow Road

NORTHALLERTON

North Yorkshire

DL7 8RX

REGISTERED NUMBER:

09904266 (England and Wales)

ACCOUNTANTS:

King Hope

34 Romanby Road

NORTHALLERTON

North Yorkshire

DL7 8NF

FIXED ASSETS

Tangible assets

4

15,820

19,003

CURRENT ASSETS

Stocks

20,700

22,672

Debtors

5

2,208

10,996

Cash at bank

16,804

22,936

39,712

56,604

CREDITORS

Amounts falling due within one year

6

(40,994

)

(66,069

)

NET CURRENT LIABILITIES

(1,282

)

(9,465

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,538

9,538

CREDITORS

Amounts falling due after more than one year

7

(8,633

)

(3,557

)

PROVISIONS FOR LIABILITIES

9

(3,955

)

(5,426

)

NET ASSETS

1,950

555

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

1,850

455

SHAREHOLDERS' FUNDS

1,950

555

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

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

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 18 September 2025 and were signed on its behalf by:

C L Cowton - Director

1.	STATUTORY INFORMATION

Dixon & Cowton Cabinet Makers Limited 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 represents the value of work completed on construction contracts excluding 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.

Plant and machinery

-

25% on cost

Motor vehicles

-

25% on cost

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

The value of construction contracts in progress at the balance sheet date is assessed according to the percentage stage of completion, taking account of all anticipated future costs and revenue.

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.

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.

Going concern

These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the Directors have carefully considered these risks, including an assessment of uncertainty of future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the Directors consider that the company maintains an appropriate level of liquidity, sufficient to meet the demands of the business. In addition, the company assets are assessed for recoverability on a regular basis, and the Directors consider that the company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the company's ability to continue as a going concern. This the Directors have continued to adopt the going concern basis of accounting in preparing these financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

47,058

45,752

92,810

Additions

14,200

-

14,200

At 31 December 2024

61,258

45,752

107,010

DEPRECIATION

At 1 January 2024

42,354

31,453

73,807

Charge for year

5,946

11,437

17,383

At 31 December 2024

48,300

42,890

91,190

NET BOOK VALUE

At 31 December 2024

12,958

2,862

15,820

At 31 December 2023

4,704

14,299

19,003

The net book value of tangible fixed assets includes £ 15,732 (2023 - £ 18,653 ) in respect of assets held under hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

7,267

CIS deductions

1,386

-

Prepayments and accrued income

822

3,729

2,208

10,996

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

6,284

10,228

Trade creditors

8,229

12,675

Corporation tax

16,319

18,336

Social security and other taxes

5,293

12,135

Directors' current accounts

2,822

2,822

Accruals and deferred income

2,047

9,873

40,994

66,069

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

8,633

3,557

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

14,917

13,785

Obligations under hire purchase contracts are secured on the assets concerned.

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Accelerated capital allowances

3,955

5,426

Deferred

tax

£

Balance at 1 January 2024

5,426

Provided during year

(1,471

)

Balance at 31 December 2024

3,955

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

11.	OTHER FINANCIAL COMMITMENTS

At the reporting date, the company had outstanding commitments for future minimum lease payments under non-cancellable operating lease arrangements in respect of rent totalling £57,000 (2023: £69,000).

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £55,953 (2023 - £50,161) were paid to the directors .

At the balance sheet date the sum of £2,822 was due to directors (2023 - £2,822).

The directors have guaranteed the company's operating lease to the value of £12,000 per annum.

13.	ULTIMATE CONTROLLING PARTY

The controlling parties are C L Cowton and L Dixon by virtue of their equal interest in the equity share capital of the company.