Paul Dixon Limited - Period Ending 2014-06-30

Registration number: 04447644

Paul Dixon Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2014
 

Paul Dixon Limited
(Registration number: 04447644)
Abbreviated Balance Sheet at 30 June 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			32,548			19,057
Current assets
Stocks					500			35,776
Debtors					213,943			2,318
Cash at bank and in hand					207,522			223,961
					421,965			262,055
Creditors: Amounts falling due within one year					(168,203)			(96,304)
Net current assets					253,762			165,751
Total assets less current liabilities					286,310			184,808
Provisions for liabilities					(6,002)			(3,193)
Net assets					280,308			181,615
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					280,208			181,515
Shareholders' funds					280,308			181,615

The notes on pages 3 to 4 form an integral part of these financial statements.
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Paul Dixon Limited
(Registration number: 04447644)
Abbreviated Balance Sheet at 30 June 2014
......... continued

For the year ending 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 26 January 2015 and signed on its behalf by:

.........................................
Mr P A Dixon
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
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Paul Dixon Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% straight line basis
Motor vehicles	25% straight line basis
Office equipment	33.3% straight line basis

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work in progress that is in relation to a contract has been valued using UITF40 guidelines.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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Paul Dixon Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 July 2013		15,000			59,561			74,561
Additions		-			21,502			21,502
Disposals		-			(26,848)			(26,848)
At 30 June 2014		15,000			54,215			69,215
Depreciation
At 1 July 2013		15,000			40,504			55,504
Charge for the year		-			8,013			8,013
Eliminated on disposals		-			(26,850)			(26,850)
At 30 June 2014		15,000			21,667			36,667
Net book value
At 30 June 2014		-			32,548			32,548
At 30 June 2013		-			19,057			19,057

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

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