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Registered Number 00659149

JOHN DIXON HOMES LIMITED

Abbreviated Accounts

31 July 2016

JOHN DIXON HOMES LIMITED Registered Number 00659149

Abbreviated Balance Sheet as at 31 July 2016

Notes 2016 2015
£ £
Called up share capital not paid - -
Fixed assets
Tangible assets 2 1,162 546
Investments 3 33 33
1,195 579
Current assets
Stocks 378,771 203,771
Debtors 43,169 34,902
Cash at bank and in hand 255 223,383
422,195 462,056
Creditors: amounts falling due within one year (20,226) (25,606)
Net current assets (liabilities) 401,969 436,450
Total assets less current liabilities 403,164 437,029
Provisions for liabilities (239) (78)
Total net assets (liabilities) 402,925 436,951
Capital and reserves
Called up share capital 5,250 5,250
Other reserves 4,750 4,750
Profit and loss account 392,925 426,951
Shareholders' funds 402,925 436,951
  • For the year ending 31 July 2016 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.

Approved by the Board on 12 April 2017

And signed on their behalf by:
John Dixon, Director

JOHN DIXON HOMES LIMITED Registered Number 00659149

Notes to the Abbreviated Accounts for the period ended 31 July 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible assets depreciation policy
Fixed assets

Fixed assets other than investment properties are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - 20% straight line
Fixtures & Fittings - 20% straight line

Valuation information and policy
Stocks

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

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Other accounting policies
Deferred taxation

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

2Tangible fixed assets
£
Cost
At 1 August 2015 10,038
Additions 1,071
Disposals -
Revaluations -
Transfers -
At 31 July 2016 11,109
Depreciation
At 1 August 2015 9,492
Charge for the year 455
On disposals -
At 31 July 2016 9,947
Net book values
At 31 July 2016 1,162
At 31 July 2015 546

3Fixed assets Investments
Fixed assets other than investment properties are initially recorded at cost.