Registration number:
Dawson & Killen Ltd
for the Year Ended 30 September 2021
Dawson & Killen Ltd
Contents
Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Dawson & Killen Ltd
(Registration number: 09791268)
Abridged Balance Sheet as at 30 September 2021
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2021 |
2020 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Dawson & Killen Ltd
(Registration number: 09791268)
Abridged Balance Sheet as at 30 September 2021
For the financial year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
Mr RC Dawson
Director
Mr JR Killen
Director
Dawson & Killen Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2021
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Statement of compliance
These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold property |
0% straight line |
Long leasehold property |
0% straight line |
Investment property
Dawson & Killen Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2021
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Cost or valuation |
Depreciation |
Carrying amount |
At 30 September 2021 |
Investment properties
2021 |
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At 1 October |
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The directors consider the valuation to be a fair reflection of the open market value of the properties.
There has been no valuation of investment property by an independent valuer.
Creditors: amounts falling due within one year |
Creditors include bank loans which are secured of £101,900.00 (2020 - £96,400.00).
Creditors: amounts falling due after more than one year |
Creditors include bank loans which are secured of £926,170.00 (2020 - £1,033,580.00).
Dawson & Killen Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2021
Creditors include bank loans repayable by instalments of £416,670.00 (2020 - £551,580.00) due after more than five years.
National Westminder Bank PLC hold both fixed and floating charges over the assets in the company in relation to the debt outstanding.