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REGISTERED NUMBER: 01273596 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

NIGEL HOLMES LIMITED

NIGEL HOLMES LIMITED (REGISTERED NUMBER: 01273596)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NIGEL HOLMES LIMITED

COMPANY INFORMATION
for the Year Ended 31 JANUARY 2023







DIRECTORS: Mr N M Holmes
Mrs S Holmes





SECRETARY: Mrs S Holmes





REGISTERED OFFICE: 327 Clifton Drive South
Lytham St Annes
Lancashire
FY8 1HN





REGISTERED NUMBER: 01273596 (England and Wales)





ACCOUNTANTS: Whitehead & Howarth
327 Clifton Drive South
Lytham St Annes
Lancashire
FY8 1HN

NIGEL HOLMES LIMITED (REGISTERED NUMBER: 01273596)

BALANCE SHEET
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,740 7,525

CURRENT ASSETS
Stocks 141,365 89,667
Debtors 5 2,258 3,062
Cash at bank and in hand 199,217 270,678
342,840 363,407
CREDITORS
Amounts falling due within one year 6 230,694 245,774
NET CURRENT ASSETS 112,146 117,633
TOTAL ASSETS LESS CURRENT
LIABILITIES

118,886

125,158

CREDITORS
Amounts falling due after more than one
year

7

23,958

33,333
NET ASSETS 94,928 91,825

CAPITAL AND RESERVES
Called up share capital 9 5,004 5,004
Retained earnings 10 89,924 86,821
SHAREHOLDERS' FUNDS 94,928 91,825

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

NIGEL HOLMES LIMITED (REGISTERED NUMBER: 01273596)

BALANCE SHEET - continued
31 JANUARY 2023


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

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 19 October 2023 and were signed on its behalf by:




Mr N M Holmes - Director



Mrs S Holmes - Director


NIGEL HOLMES LIMITED (REGISTERED NUMBER: 01273596)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 JANUARY 2023

1. STATUTORY INFORMATION

Nigel Holmes 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 represents net invoiced sales of goods attributable to the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are initially recorded at historic cost and stated in the balance sheet at their net book value, being the amount of capital expenditure less accumulated depreciation.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 7 (2022 - 6 ) .

NIGEL HOLMES LIMITED (REGISTERED NUMBER: 01273596)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 JANUARY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2022 30,713 5,005 35,718
Additions - 1,026 1,026
Disposals - (914 ) (914 )
At 31 January 2023 30,713 5,117 35,830
DEPRECIATION
At 1 February 2022 25,408 2,785 28,193
Charge for year 796 744 1,540
Eliminated on disposal - (643 ) (643 )
At 31 January 2023 26,204 2,886 29,090
NET BOOK VALUE
At 31 January 2023 4,509 2,231 6,740
At 31 January 2022 5,305 2,220 7,525

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Prepayments 2,258 3,062

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 51,953 18,652
Tax 10,030 24,508
Social security and other taxes 362 2,650
VAT 19,877 28,780
Other creditors 226 528
Directors' current accounts 135,368 158,068
Accruals and deferred income 2,878 2,588
230,694 245,774

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 13,958 23,333
23,958 33,333

NIGEL HOLMES LIMITED (REGISTERED NUMBER: 01273596)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 JANUARY 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.23 31.1.22
£    £   
Within one year 41,430 41,430
Between one and five years 65,598 107,028
107,028 148,458

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
5,004 Ordinary £1 5,004 5,004

10. RESERVES
Retained
earnings
£   

At 1 February 2022 86,821
Profit for the year 43,103
Dividends (40,000 )
At 31 January 2023 89,924

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from directors subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£    £   
Mr N M Holmes
Balance outstanding at start of year 78,703 80,093
Amounts advanced 2,250 2,250
Amounts repaid (12,846 ) (3,640 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 68,107 78,703

Mrs S Holmes
Balance outstanding at start of year 79,365 81,637
Amounts advanced 234 234
Amounts repaid (12,338 ) (2,506 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 67,261 79,365

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors, who own 100% of the issued share capital of the company.