| Charles Dixey Limited |
| Registered number: |
06517395 |
| Balance Sheet |
| as at 28 February 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,690,000 |
|
|
1,690,000 |
| Investments |
4 |
|
|
112,832 |
|
|
112,832 |
|
|
|
|
1,802,832 |
|
|
1,802,832 |
|
| Current assets |
| Debtors |
5 |
|
209,907 |
|
|
1,235 |
| Cash at bank and in hand |
|
|
3,856 |
|
|
122,174 |
|
|
|
213,763 |
|
|
123,409 |
|
| Creditors: amounts falling due within one year |
6 |
|
(201,190) |
|
|
(189,081) |
|
| Net current assets/(liabilities) |
|
|
|
12,573 |
|
|
(65,672) |
|
| Total assets less current liabilities |
|
|
|
1,815,405 |
|
|
1,737,160 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(139,000) |
|
|
(121,000) |
|
|
|
| Net assets |
|
|
|
1,676,405 |
|
|
1,616,160 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
505 |
|
|
505 |
| Share premium |
|
|
|
1,123,348 |
|
|
1,123,348 |
| Undistributable reserve |
8 |
|
|
285,314 |
|
|
285,314 |
| Profit and loss account |
|
|
|
267,238 |
|
|
206,993 |
|
| Shareholders' funds |
|
|
|
1,676,405 |
|
|
1,616,160 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
| S.J. Palmer |
| Director |
| Approved by the board on 16 September 2025 |
|
| Charles Dixey Limited |
| Notes to the Accounts |
| for the year ended 28 February 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
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 is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Freehold buildings |
Not depreciated |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and 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. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 March 2024 |
1,690,000 |
|
At 28 February 2025 |
1,690,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 28 February 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 28 February 2025 |
1,690,000 |
|
At 29 February 2024 |
1,690,000 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
478,847 |
|
478,847 |
|
Cumulative depreciation based on historical cost |
(166,039) |
|
(166,039) |
|
|
|
|
|
|
312,808 |
|
312,808 |
|
In the year ending February 2021 C.W. Dixey & Son Ltd, a wholly owned subsidiary, transferred its portfolio of properties (and the management of them) to Charles Dixey Ltd. The properties are reflected in these accounts at the director’s estimate of their current market value. |
|
|
| 4 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 March 2024 |
112,832 |
|
|
At 28 February 2025 |
112,832 |
|
|
|
|
|
|
|
|
|
|
Charles Dixey Ltd’s investments comprise a shareholding in two subsidiary undertakings.
The company’s investment of £31,777 represents the cost (less provision for impairment) of acquiring 100% of the ordinary share capital of C.W. Dixey & Son Ltd which is registered in England and Wales. C.W. Dixey & Son Ltd owns and manages intellectual property. At 28 February 2025, the aggregate amount of the share capital and reserves of C.W. Dixey & Son Ltd amounted to £31,777 (2024: £31,777) and the profit for the year to that date was £Nil (2024: £Nil).
Details of C.W. Dixey & Son Ltd’s subsidiary undertaking can be found in the accounts of that company.
The company’s investment of £81,055 represents the cost of acquiring 100% of the ordinary share capital of Dixey of London Ltd which is registered in England and Wales. Dixey of London Ltd designs and markets luxury goods, specifically eyewear and associated leather products. At 28 February 2025, the aggregate amount of the share capital and reserves of Dixey of London Ltd amounted to £324,267 (2024: £314,243) and the profit for the year to that date was £10,024 (2024: profit of £13,345). |
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Loan to Director |
|
|
|
|
209,000 |
|
- |
|
Other debtors |
907 |
|
1,235 |
|
|
|
|
|
|
209,907 |
|
1,235 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors and prepayments |
4,708 |
|
1,340 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
179,605 |
|
172,201 |
|
Taxation and social security costs |
16,877 |
|
15,540 |
|
|
|
|
|
|
201,190 |
|
189,081 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Tenant deposits |
12,000 |
|
21,000 |
|
Shareholder loan (repayable after more than 5 years) |
127,000 |
|
100,000 |
|
|
|
|
|
|
139,000 |
|
121,000 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Undistributable reserve |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 March 2024 |
285,314 |
|
285,314 |
|
|
At 28 February 2025 |
285,314 |
|
285,314 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
S.J. Palmer |
|
21/02/2025 |
- |
|
209,000 |
|
- |
|
209,000 |
|
|
|
- |
|
209,000 |
|
- |
|
209,000 |
|
|
|
|
|
|
|
|
|
|
| 10 |
Other information |
|
|
During the two years ending 28th February 2025, the director, together with members of his close family, controlled the company.Charles Dixey Limited is a Private Company limited by shares and incorporated in England and Wales. Its registered office is: |
|
21 The Barton |
|
Cobham |
|
Surrey |
|
KT11 2NJ |