Nicholas International Limited 31/03/2023 iXBRL

Nicholas International Limited 31/03/2023 iXBRL

NICHOLAS INTERNATIONAL LIMITED - Company Information

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2 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 01790687 2022-04-01 2023-03-31 01790687 2023-03-31 01790687 2022-03-31 01790687 2021-04-01 2022-03-31 01790687 2022-03-31 01790687 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 01790687 core:MotorVehicles 2022-04-01 2023-03-31 01790687 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 01790687 bus:Director1 2022-04-01 2023-03-31 01790687 core:WithinOneYear 2023-03-31 01790687 core:WithinOneYear 2022-03-31 01790687 core:FurnitureFittingsToolsEquipment 2022-03-31 01790687 core:MotorVehicles 2022-03-31 01790687 core:FurnitureFittingsToolsEquipment 2023-03-31 01790687 core:MotorVehicles 2023-03-31 01790687 core:ShareCapital 2023-03-31 01790687 core:ShareCapital 2022-03-31 01790687 core:RetainedEarningsAccumulatedLosses 2023-03-31 01790687 core:RetainedEarningsAccumulatedLosses 2022-03-31 01790687 bus:OrdinaryShareClass1 core:ShareCapital 2023-03-31 01790687 bus:OrdinaryShareClass1 core:ShareCapital 2022-03-31 01790687 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 01790687 core:Non-currentFinancialInstruments 2023-03-31 01790687 core:Non-currentFinancialInstruments 2022-03-31 01790687 core:FurnitureFittingsToolsEquipment 2022-03-31 01790687 core:MotorVehicles 2022-03-31 01790687 bus:SmallEntities 2022-04-01 2023-03-31 01790687 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01790687 bus:FullAccounts 2022-04-01 2023-03-31 01790687 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 01790687 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
Company registration number: 01790687
Companies House
Nicholas International Limited
Unaudited filleted financial statements
31 March 2023
Nicholas International Limited
Contents
Statement of financial position
Notes to the financial statements
Nicholas International Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 152,464 170,973
Investments 6 31,767 31,767
_______ _______
184,231 202,740
Current assets
Debtors 7 1,489,808 1,591,589
Cash at bank and in hand 2,103,376 1,796,737
_________ _________
3,593,184 3,388,326
Creditors: amounts falling due
within one year 8 ( 2,163,540) ( 1,916,960)
_________ _________
Net current assets 1,429,644 1,471,366
_________ _________
Net assets 1,613,875 1,674,106
_________ _________
Capital and reserves
Called up share capital 9 2 2
Profit and loss account 1,613,873 1,674,104
_________ _________
Shareholders funds 1,613,875 1,674,106
_________ _________
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: 01790687
Nicholas International 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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for management services provided, net of Value Added Tax.
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
Motor vehicles - 25 % 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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
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 2 (2022: 2 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2022 642,205 193,163 835,368
Additions 4,095 134,943 139,038
Disposals - ( 131,564) ( 131,564)
_______ _______ _______
At 31 March 2023 646,300 196,542 842,842
_______ _______ _______
Depreciation
At 1 April 2022 584,466 79,929 664,395
Charge for the year 22,411 39,294 61,705
Disposals - ( 35,722) ( 35,722)
_______ _______ _______
At 31 March 2023 606,877 83,501 690,378
_______ _______ _______
Carrying amount
At 31 March 2023 39,423 113,041 152,464
_______ _______ _______
At 31 March 2022 57,739 113,234 170,973
_______ _______ _______
6. Investments
Shares in group undertakings Total
£ £
Cost
At 1 April 2022 and 31 March 2023 31,767 31,767
_______ _______
Impairment
At 1 April 2022 and 31 March 2023 - -
_______ _______
Carrying amount
At 31 March 2023 31,767 31,767
_______ _______
At 31 March 2022 31,767 31,767
_______ _______
7. Debtors
2023 2022
£ £
Amounts owed by group undertakings 1,488,984 1,589,337
Prepayments and accrued income 824 252
Other debtors - 2,000
_________ _________
1,489,808 1,591,589
_________ _________
8. Creditors: amounts falling due within one year
2023 2022
£ £
Accruals and deferred income 5,500 5,000
Corporation tax 251,041 183,761
Social security and other taxes 6,432 6,520
Director loan accounts 1,900,567 1,721,679
_________ _________
2,163,540 1,916,960
_________ _________
9. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 2 2 2 2
_______ _______ _______ _______