Registered number
02364193
McFadden Nichols Ltd
Filleted Accounts
5 April 2023
McFadden Nichols Ltd
Registered number: 02364193
Balance Sheet
as at 5 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,480 3,480
Investments 4 212,525 253,880
216,005 257,360
Current assets
Debtors 5 129 123
Cash at bank and in hand 1,009 3,357
1,138 3,480
Creditors: amounts falling due within one year 6 (2,573) (930)
Net current (liabilities)/assets (1,435) 2,550
Total assets less current liabilities 214,570 259,910
Provisions for liabilities (22,931) (27,664)
Net assets 191,639 232,246
Capital and reserves
Called up share capital 2 2
Profit and loss account 191,637 232,244
Shareholders' funds 191,639 232,246
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Nichols
Director
Approved by the board on 12 October 2023
McFadden Nichols Ltd
Notes to the Accounts
for the year ended 5 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 6 April 2022 25,641
At 5 April 2023 25,641
Depreciation
At 6 April 2022 22,161
At 5 April 2023 22,161
Net book value
At 5 April 2023 3,480
At 5 April 2022 3,480
4 Investments
Listed
investments
£
Valuation
At 6 April 2022 253,880
Revaluation (24,751)
Disposals (16,604)
At 5 April 2023 212,525
Listed investments 2023 2022
£ £
Historical cost 91,834 108,437
5 Debtors 2023 2022
£ £
Other debtors 129 123
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,613 -
Other creditors 960 930
2,573 930
7 Other information
McFadden Nichols Ltd is a private company limited by shares and incorporated in England. Its registered office is:
58 Blackthorns
Lindfield
Haywards Heath
W Sussex
RH16 2AY
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