Nicholas James (UK) Limited 31/03/2023 iXBRL

Nicholas James (UK) Limited 31/03/2023 iXBRL

NICHOLAS JAMES (UK) LIMITED - Company Information

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27 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 01613665 2022-04-01 2023-03-31 01613665 2023-03-31 01613665 2022-03-31 01613665 2021-04-01 2022-03-31 01613665 2022-03-31 01613665 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 01613665 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 01613665 bus:Director1 2022-04-01 2023-03-31 01613665 core:WithinOneYear 2023-03-31 01613665 core:WithinOneYear 2022-03-31 01613665 core:FurnitureFittingsToolsEquipment 2022-03-31 01613665 core:FurnitureFittingsToolsEquipment 2023-03-31 01613665 core:ShareCapital 2023-03-31 01613665 core:ShareCapital 2022-03-31 01613665 core:RetainedEarningsAccumulatedLosses 2023-03-31 01613665 core:RetainedEarningsAccumulatedLosses 2022-03-31 01613665 bus:OrdinaryShareClass1 core:ShareCapital 2023-03-31 01613665 bus:OrdinaryShareClass1 core:ShareCapital 2022-03-31 01613665 core:FurnitureFittingsToolsEquipment 2022-03-31 01613665 bus:SmallEntities 2022-04-01 2023-03-31 01613665 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01613665 bus:FullAccounts 2022-04-01 2023-03-31 01613665 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 01613665 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
Company registration number: 01613665
Companies House
Nicholas James (UK) Limited
Unaudited filleted financial statements
31 March 2023
Nicholas James (UK) Limited
Contents
Statement of financial position
Notes to the financial statements
Nicholas James (UK) Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 166,036 181,330
_______ _______
166,036 181,330
Current assets
Stocks 568,186 464,039
Debtors 6 493,769 395,395
Cash at bank and in hand 18,719 40,347
_________ _______
1,080,674 899,781
Creditors: amounts falling due
within one year 7 ( 898,093) ( 772,936)
_______ _______
Net current assets 182,581 126,845
_______ _______
Net assets 348,617 308,175
_______ _______
Capital and reserves
Called up share capital 8 100 100
Profit and loss account 348,517 308,075
_______ _______
Shareholders funds 348,617 308,175
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 07 August 2023 , and are signed on behalf of the board by:
Mr P Mottram Mrs S Mottram
Director Director
Company registration number: 01613665
Nicholas James (UK) Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office and the business is Tower House, Westfield Industrial Estate, Kirk Lane, Yeadon, Leeds, LS19 7LX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
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, and are rounded to the nearest £1.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Fixtures, fittings and equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 27 (2022: 27 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2022 1,130,460 1,130,460
Additions 65,361 65,361
_________ _________
At 31 March 2023 1,195,821 1,195,821
_________ _________
Depreciation
At 1 April 2022 949,130 949,130
Charge for the year 80,655 80,655
_________ _________
At 31 March 2023 1,029,785 1,029,785
_________ _________
Carrying amount
At 31 March 2023 166,036 166,036
_______ _______
At 31 March 2022 181,330 181,330
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 458,235 394,086
Prepayments and accrued income 1,166 1,309
Other debtors 34,368 -
_______ _______
493,769 395,395
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 296,162 244,670
Amounts owed to group undertakings 477,694 379,094
Accruals and deferred income 17,923 53,730
Corporation tax 10,372 6,437
Social security and other taxes 94,057 82,698
Other creditors 1,885 6,307
_______ _______
898,093 772,936
_______ _______
8. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
9. Controlling party
The company is a subsidiary undertaking and regards Nicholas International Limited as its ultimate parent company.