Dexter & Sharpe (Lincoln) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10641502 (England and Wales)

DEXTER & SHARPE (LINCOLN) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs N M Lenton

R A Clawson

J J Holland

D Johnson

D W Nicholson

T J Russell

C R Tyte

REGISTERED OFFICE:

Rollestone House

Bridge Street

Horncastle

Lincolnshire

LN9 5HZ

REGISTERED NUMBER:

10641502 (England and Wales)

FIXED ASSETS

Intangible assets

3

119,979

127,419

Tangible assets

4

6,747

7,863

126,726

135,282

CURRENT ASSETS

Stocks & work in progress

42,106

30,303

Debtors

145,245

142,574

Cash at bank and in hand

14,215

187

201,566

173,064

CREDITORS

Amounts falling due within one year

108,268

92,034

NET CURRENT ASSETS

93,298

81,030

TOTAL ASSETS LESS CURRENT LIABILITIES

220,024

216,312

CREDITORS

Amounts falling due after more than one year

5

(189,094

)

(191,900

)

PROVISIONS FOR LIABILITIES

(1,282

)

(1,494

)

NET ASSETS

29,648

22,918

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

29,548

22,818

SHAREHOLDERS' FUNDS

29,648

22,918

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 3 September 2021 and were signed on its behalf by:

Mrs N M Lenton - Director

J J Holland - Director

1.	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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

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.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2019 - 20 ) .

3.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2020

and 31 December 2020

148,499

AMORTISATION

At 1 January 2020

21,080

Amortisation for year

7,440

At 31 December 2020

28,520

NET BOOK VALUE

At 31 December 2020

119,979

At 31 December 2019

127,419

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2020

and 31 December 2020

12,500

DEPRECIATION

At 1 January 2020

4,637

Charge for year

1,116

At 31 December 2020

5,753

NET BOOK VALUE

At 31 December 2020

6,747

At 31 December 2019

7,863

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2020

2019

£

£

Repayable by instalments

Bank loans more 5 yr by instal

7,500

-