Accounts filed on 31-03-2015


Registered number: 3868408






Nicholson Design Consultants Ltd


ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31/03/2015
























Prepared By:
Jackson & Green Accountants, Business & Tax Advisers
1st Floor, Hill House
23-25 Spur Road
Cosham
Hampshire
PO6 3DY


Nicholson Design Consultants Ltd


ABBREVIATED ACCOUNTS


FOR THE YEAR ENDED 31/03/2015

















INDEX TO THE ACCOUNTS




Abbreviated Balance Sheet		2

Notes to the Abbreviated Accounts		3



The company's registered number is 3868408


Registered Number: 3868408

BALANCE SHEET AT 31/03/2015

			2015		2014
	Notes		£		£

FIXED ASSETS
Intangible assets	2		3,424		2,067
Tangible assets	3		6,386		8,605

			9,810		10,672

CURRENT ASSETS
Debtors (amounts falling due within one year)	4	26,729		60,626
Cash at bank and in hand		7,272		52,093
		34,001		112,719
CREDITORS: Amounts falling due within one year		37,115		30,677
NET CURRENT (LIABILITIES) / ASSETS			(3,114)		82,042
TOTAL ASSETS LESS CURRENT LIABILITIES			6,696		92,714


PROVISIONS FOR LIABILITIES			1,046		1,390

NET ASSETS			5,650		91,324

CAPITAL AND RESERVES

Called up share capital	5		800		800
Profit and loss account			4,850		90,524
SHAREHOLDERS' FUNDS			5,650		91,324

For the year ending 31/03/2015 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 29/12/2015 and signed on their behalf by




Mr M J Nicholson
Director

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and are in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).




1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective April 2008).




1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and Machinery		reducing balance 25%
Fixtures and Fittings		reducing balance 25%
Equipment		straight line 33.33%




1d. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.




1e. Pension Costs
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.




1f. Foreign Currency
Transactions in foreign currency are translated at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the exchange rate ruling at that date. Foreign exchange gains and losses are recognised in the income statement. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.




1g. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.




4. DEBTORS	2015	2014
	£	£

Amounts falling due within one year:
Trade debtors	21,390	22,522
VAT	2,111	-
Other debtors	3,228	38,104
	26,729	60,626




5. SHARE CAPITAL	2015	2014
	£	£
Allotted, issued and fully paid:
400 Ordinary shares of £1 each	400	400
400 Class B shares of £1 each	400	400
	800	800




6. RELATED PARTY TRANSACTIONS
An amount of £3,000 (2014: £3,000) is shown within other debtors that relates to an amount owed to the company by Market Focus Partnership, a related business which is solely owned by Mr M J Nicholson and Mrs A L Nicholson directors of Nicholson Limited.
Also within other debtors is a balance of £100 owed to the company by Niche Coffee Limited, a related company owned by one of the directors Mr M J Nicholson.
A total of £nil (2014 £40,000) was proposed in dividends during the year.




7. TURNOVER

The turnover and pre-tax result is attributable to that of design consultants. During the year the company provided services to markets in the UK and France. Sales (as a percentage of net turnover) to international markets totalled 16.45%.

	2015	2014
	£	£
Sales	92,995	139,306
Other Trading Income	27	-
Royalties received	15,306	-
	108,328	139,306




8. TRANSACTIONS WITH DIRECTORS
At the end of the year the company owed the Director Mr M J Nicholson £13,261 (2014 (£19,030)). During the year the company made the following advances to the director, Mr M J Nicholson: Loans totalling £31,729 (2014 £21,739). Repayments of £9,995 (2014 £2,709) were made during the year and dividends were received of £54,025 (2014 £23,400). The maximum amount owed to the company at any point was £19,029 (2014 £24,150). The advances were made interest free and were repayable on demand.
Also at the end of the year the company owed the director Mrs A L Nicholson £15,476 (2014 (£15,917)). During the year the company made the following advances to the director, Mrs A L Nicholson: Loans totalling £32,627 (2014 £21,739). Repayments of £9,995 (2014 £2,225) were made during the year and dividends were received of £54,025 (2014 £23,400). The maximum amount owed to the company by the director at any point was £15,917 (2014 £20,533). The advances were made interest free and were repayable on demand.




9. CONTROLLING PARTY
The company is controlled equally by the directors, Mr M Nicholson and Mrs A Nicholson.