Dill & Sons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00806857 (England and Wales)

DILL & SONS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P S Dill

Mrs F E Dill

P Moynihan

Mrs K Turner

SECRETARY:

Mrs F E Dill

REGISTERED OFFICE:

Clare House

57 Ingram Road

Holbeck

Leeds

Yorkshire

LS11 9RQ

REGISTERED NUMBER:

00806857 (England and Wales)

AUDITORS:

DSC Accountants Ltd

Chartered Accountants

Statutory Auditors

Tattersall House

East Parade

Harrogate

North Yorkshire

HG1 5LT

FIXED ASSETS

Tangible assets

4

333,100

345,883

Investments

5

-

-

333,100

345,883

CURRENT ASSETS

Stocks

157,652

149,746

Debtors

6

201,435

153,434

Cash at bank and in hand

684

8,042

359,771

311,222

CREDITORS

Amounts falling due within one year

7

285,076

257,082

NET CURRENT ASSETS

74,695

54,140

TOTAL ASSETS LESS CURRENT LIABILITIES

407,795

400,023

CREDITORS

Amounts falling due after more than one year

8

(58,773

)

(62,802

)

PROVISIONS FOR LIABILITIES

(37,000

)

(39,000

)

NET ASSETS

312,022

298,221

CAPITAL AND RESERVES

Called up share capital

11

30,100

30,100

Retained earnings

281,922

268,121

SHAREHOLDERS' FUNDS

312,022

298,221

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 on 25 March 2020 and were signed on its behalf by:

Mrs F E Dill - Director

P S Dill - Director

1.	STATUTORY INFORMATION

Dill & Sons 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

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.

Freehold property

-

2% on cost

Fixtures and fittings

-

20% and 25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2018 - 33 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2019

167,500

210,578

313,851

691,929

Additions

-

2,157

70,298

72,455

Disposals

-

-

(44,678

)

(44,678

)

At 31 December 2019

167,500

212,735

339,471

719,706

DEPRECIATION

At 1 January 2019

28,475

196,442

121,129

346,046

Charge for year

1,675

3,672

61,043

66,390

Eliminated on disposal

-

-

(25,830

)

(25,830

)

At 31 December 2019

30,150

200,114

156,342

386,606

NET BOOK VALUE

At 31 December 2019

137,350

12,621

183,129

333,100

At 31 December 2018

139,025

14,136

192,722

345,883

The net book value of tangible fixed assets includes £ 183,130 (2018 - £ 192,723 ) in respect of assets held under

hire purchase contracts.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2019

and 31 December 2019

3,337

PROVISIONS

At 1 January 2019

and 31 December 2019

3,337

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

193,596

145,437

Prepayments

7,839

7,997

201,435

153,434

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

26

-

Hire purchase contracts (see note 9)

56,859

62,851

Trade creditors

106,425

100,571

Tax

11,423

9,355

Social security and other taxes

24,989

23,596

VAT

65,873

44,848

Other creditors

11,335

8,184

Accrued expenses

8,146

7,677

285,076

257,082

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts (see note 9)

58,773

62,802

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2019

2018

£

£

Net obligations repayable:

Within one year

56,859

62,851

Between one and five years

58,773

62,802

115,632

125,653

Non-cancellable operating

leases

2019

2018

£

£

Within one year

33,056

33,704

Between one and five years

61,170

83,467

94,226

117,171

10.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Hire purchase contracts

115,632

125,653

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

30,100

Ordinary

£1

30,100

30,100

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Campbell (Senior Statutory Auditor)

for and on behalf of DSC Accountants Ltd

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs F E Dill.