Nicholsons (Hatfield) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 12477542 (England and Wales)

NICHOLSONS (HATFIELD) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

6

DIRECTORS:

A Del Basso

D Maurello

J P Carroll

PJ McKay

REGISTERED OFFICE:

Broad House

1 The Broadway

Hatfield

Hertfordshire

AL9 5BG

REGISTERED NUMBER:

12477542 (England and Wales)

ACCOUNTANTS:

Jones Hunt & Keelings

Chartered Certified Accountants and

Chartered Tax Advisers

71 Knowl Piece

Wilbury Way

Hitchin

Hertfordshire

SG4 0TY

FIXED ASSETS

Intangible assets

4

360,000

480,000

Tangible assets

5

20,684

32,480

380,684

512,480

CURRENT ASSETS

Debtors

200,738

226,022

Cash at bank

58,942

22,181

259,680

248,203

CREDITORS

Amounts falling due within one year

246,765

267,463

NET CURRENT ASSETS/(LIABILITIES)

12,915

(19,260

)

TOTAL ASSETS LESS CURRENT LIABILITIES

393,599

493,220

CREDITORS

Amounts falling due after more than one year

(605,748

)

(579,198

)

PROVISIONS FOR LIABILITIES

(3,930

)

(6,171

)

NET LIABILITIES

(216,079

)

(92,149

)

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

(216,279

)

(92,349

)

(216,079

)

(92,149

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 December 2023 and were signed on its behalf by:

A Del Basso - Director

D Maurello - Director

1.	STATUTORY INFORMATION

Nicholsons (Hatfield) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover comprises the invoiced cost of services during the year, excluding value added tax, and net of trade discounts. The company's policy is to recognise a sale when the work has been completed and finalised. In respect of on-going services, turnover is recognised by reference to the stage of completion.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

and 31 March 2023

600,000

AMORTISATION

At 1 April 2022

120,000

Amortisation for year

120,000

At 31 March 2023

240,000

NET BOOK VALUE

At 31 March 2023

360,000

At 31 March 2022

480,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

and 31 March 2023

44,305

DEPRECIATION

At 1 April 2022

11,825

Charge for year

11,796

At 31 March 2023

23,621

NET BOOK VALUE

At 31 March 2023

20,684

At 31 March 2022

32,480

6.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Other loans

351,000

450,000

7.	ULTIMATE CONTROLLING PARTY

The company is jointly controlled by A Del Basso and D Maurello.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nicholsons (Hatfield) Limited for the year ended 31 March 2023 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Nicholsons (Hatfield) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nicholsons (Hatfield) Limited and state those matters that we have agreed to state to the Board of Directors of Nicholsons (Hatfield) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Nicholsons (Hatfield) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Nicholsons (Hatfield) Limited. You consider that Nicholsons (Hatfield) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nicholsons (Hatfield) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Jones Hunt & Keelings

Chartered Certified Accountants and

Chartered Tax Advisers

71 Knowl Piece

Wilbury Way

Hitchin

Hertfordshire

SG4 0TY

29 December 2023