Company Registration No. 00599033 (England and Wales)
DAWKINS INTERNATIONAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 OCTOBER 2022
PAGES FOR FILING WITH REGISTRAR
DAWKINS INTERNATIONAL LIMITED
INDEPENDENT CHARTERED ACCOUNTANT'S REVIEW REPORT TO THE BOARD OF DIRECTORS OF DAWKINS INTERNATIONAL LIMITED FOR THE PERIOD ENDED 29 OCTOBER 2022
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The following reproduces the wording included within the members' version of the financial statements, including references to primary statements and reports which are not included within the filing version:
We have reviewed the financial statements of Dawkins International Limited for the period ended 29 October 2022 which comprise , the balance sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
Directors' Responsibility for the Financial Statements
As explained more fully in the Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.
Accountants' Responsibility
Our responsibility is to express a conclusion on the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised) Engagements to review historical financial statements and ICAEW technical release TECH 09/13AAF (Revised) Assurance review engagements on historical financial statements. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with the United Kingdom Accounting Standards. ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics.
Scope of the Assurance Review
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed procedures, primarily consisting of making enquiries of management and others within the entity, as appropriate, applying analytical procedures, and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK). Accordingly, we do not express an audit opinion on these financial statements.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:
so as to give a true and fair view of the state of the company’s affairs as at 29 October 2022, and of its profit for the period then ended;
in accordance with United Kingdom Generally Accepted Accounting Practice; and
in accordance with the requirements of the Companies Act 2006.
Use of our report
This report is made solely to the company’s directors, as a body, in accordance with the terms of our engagement letter dated 28 January 2022. Our review work has been undertaken so that we might state to the company’s directors those matters we have agreed to state to them in a reviewer’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s directors as a body, for our review work, for this report, or for the conclusions we have formed.
Carpenter Box
25 July 2023
Chartered Accountants
Worthing
Carpenter Box is a trading name of Carpenter Box Limited
DAWKINS INTERNATIONAL LIMITED
BALANCE SHEET
AS AT 29 OCTOBER 2022
29 October 2022
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2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
171,658
132,551
Current assets
Stocks
95,910
13,886
Debtors
4
2,765,425
1,427,646
Cash at bank and in hand
1,477,325
2,858,331
4,338,660
4,299,863
Creditors: amounts falling due within one year
5
(636,716)
(746,539)
Net current assets
3,701,944
3,553,324
Net assets
3,873,602
3,685,875
Capital and reserves
Called up share capital
6
200,000
200,000
Profit and loss reserves
3,673,602
3,485,875
Total equity
3,873,602
3,685,875
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 29 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 July 2023 and are signed on its behalf by:
Mr C E Chitty
Director
Company Registration No. 00599033
DAWKINS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 OCTOBER 2022
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1
Accounting policies
Company information
Dawkins International Limited is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1RL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties and the impact of subsequent events in making their assessment. Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover is recognised at the date of despatch.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
20% per annum on a straight line basis
Motor vehicles
25% diminishing balance per annum
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.6
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
DAWKINS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 OCTOBER 2022
1
Accounting policies
(Continued)
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1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Other financial liabilities
Derivatives, including forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate. The company has not applied hedge accounting in respect to these instruments.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
DAWKINS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 OCTOBER 2022
1
Accounting policies
(Continued)
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1.12
Leases
Rentals payable under operating leases, are charged to income on a straight line basis over the term of the relevant lease.
1.13
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 6 (2021 - 5)
3
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 31 October 2021
123,529
261,310
384,839
Additions
25,468
96,068
121,536
Disposals
(54,659)
(54,659)
At 29 October 2022
148,997
302,719
451,716
Depreciation and impairment
At 31 October 2021
92,504
159,784
252,288
Depreciation charged in the period
18,398
43,854
62,252
Eliminated in respect of disposals
(34,482)
(34,482)
At 29 October 2022
110,902
169,156
280,058
Carrying amount
At 29 October 2022
38,095
133,563
171,658
At 30 October 2021
31,025
101,526
132,551
DAWKINS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 OCTOBER 2022
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4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
2,040,393
1,201,190
Amounts owed by group undertakings
2,335
12,508
Other debtors
702,597
202,948
2,745,325
1,416,646
Deferred tax asset
20,100
11,000
2,765,425
1,427,646
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
563,002
614,755
Taxation and social security
25,883
92,245
Other creditors
47,831
39,539
636,716
746,539
6
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' shares of £1 each
100,000
100,000
100,000
100,000
Ordinary 'B' shares of £1 each
100,000
100,000
100,000
100,000
200,000
200,000
200,000
200,000
7
Financial commitments, guarantees and contingent liabilities
The company has provided a deposit of £50,000 (2021 - £50,000), against which a debenture was recorded in favour of National Westminster Bank Plc, in respect of the forward currency purchase facility.
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2022
2021
£
£
184,390
31,525
DAWKINS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 OCTOBER 2022
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9
Related party transactions
During the year, the company paid £3,540,000 (2021 - £1,980,000), for services received, to a company under the control of a director. Included within other debtors falling due within one year is £Nil (2021 - £10,173) owed by this company.