Nicholas Wilson (Blackburn) Limited Filleted accounts for Companies House (small and micro)

NICHOLAS WILSON (BLACKBURN) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05512949

NICHOLAS WILSON (BLACKBURN) LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 July 2021

NICHOLAS WILSON (BLACKBURN) LIMITED

STATEMENT OF FINANCIAL POSITION

31 July 2021

	2021		2020
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		4,297		4,646

CURRENT ASSETS

Debtors	6	2,175	–
Cash at bank and in hand		37,096	20,784
		--------	--------
		39,271	20,784

CREDITORS: amounts falling due within one year	7	23,705		10,493
		--------		--------
NET CURRENT ASSETS			15,566		10,291
			--------		--------
TOTAL ASSETS LESS CURRENT LIABILITIES			19,863		14,937

PROVISIONS

Taxation including deferred tax	816	883
	--------	--------
NET ASSETS	19,047	14,054
	--------	--------

CAPITAL AND RESERVES

Called up share capital	2	2
Profit and loss account	19,045	14,052
	--------	--------
SHAREHOLDERS FUNDS	19,047	14,054
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

NICHOLAS WILSON (BLACKBURN) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 July 2021

These financial statements were approved by the board of directors and authorised for issue on 14 January 2022 , and are signed on behalf of the board by:

N. Wilson
Director

Company registration number: 05512949

NICHOLAS WILSON (BLACKBURN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2021

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Guardian House, 42 Preston New Road, Blackburn, Lancashire, BB2 6AH.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Government grants or assistance of a revenue nature are recognised in the same period as the related expenditure. Where the grant is for the purpose of giving immediate financial support with no future related costs the income is recognised in the period in which it becomes receivable.

(d) Revenue recognition

The turnover shown in the profit and loss account represents the invoice value of goods supplied and services provided during the year, exclusive of Value Added Tax.

(e) Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

(f) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(g) Depreciation

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

Plant & Machinery	-	10% per annum reducing balance
Motor Vehicles	-	25% per annum reducing balance
Equipment	-	`10% per annum reducing balance`

(h) Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

(i) Financial instruments

Basic financial instruments are recognised at amortised cost.

(j) Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 1 (2020: 1 ).

5. TANGIBLE ASSETS

	Plant & Machinery	Motor Vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 August 2020	7,794	7,009	1,413	16,216
Additions	539	–	–	539
	-------	-------	-------	--------
At 31 July 2021	8,333	7,009	1,413	16,755
	-------	-------	-------	--------
Depreciation
At 1 August 2020	4,259	6,791	520	11,570
Charge for the year	367	55	466	888
	-------	-------	-------	--------
At 31 July 2021	4,626	6,846	986	12,458
	-------	-------	-------	--------
Carrying amount
At 31 July 2021	3,707	163	427	4,297
	-------	-------	-------	--------
At 31 July 2020	3,535	218	893	4,646
	-------	-------	-------	--------

6. DEBTORS

	2021	2020
	£	£
Trade debtors	2,175	–
	-------	----

7. CREDITORS: amounts falling due within one year

	2021	2020
	£	£
Accruals and deferred income	1,080	875
Corporation tax	4,075	1,086
Director loan accounts	18,550	8,532
	--------	--------
	23,705	10,493
	--------	--------

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

There are no transactions with directors that require disclosure under FRS 102 Section 1A.

9. RELATED PARTY TRANSACTIONS

The company was under the control of Mr N. Wilson throughout the year. Mr N. Wilson is the managing director and majority shareholder. During the year the company paid dividends to the director amounting to £12,000.