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REGISTERED NUMBER: NI012694 (Northern Ireland)












J H McNickle & Sons Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023






J H McNickle & Sons Limited (Registered number: NI012694)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Statement of Changes in Equity 4

Notes to the Financial Statements 5


J H McNickle & Sons Limited

Company Information
for the year ended 31 March 2023







DIRECTOR: Mr B McNickle



SECRETARY: Mrs L Clements



REGISTERED OFFICE: 5 Sloefield Drive
Carrickfergus
Co. Antrim
BT38 8GX



REGISTERED NUMBER: NI012694 (Northern Ireland)



ACCOUNTANTS: Agnew Mitchell & Cairns
184 Rashee Road
Ballyclare
Co. Antrim
BT39 9JB



BANKERS: Barclays Bank
17 - 21 Belfast Place
Belfast
BT1 1EL

J H McNickle & Sons Limited (Registered number: NI012694)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 584,108 594,958
584,108 594,958

CURRENT ASSETS
Stocks 73,527 43,962
Debtors 6 137,682 128,981
Cash at bank and in hand 84,934 81,952
296,143 254,895
CREDITORS
Amounts falling due within one year 7 209,786 193,967
NET CURRENT ASSETS 86,357 60,928
TOTAL ASSETS LESS CURRENT
LIABILITIES

670,465

655,886

CREDITORS
Amounts falling due after more than one
year

8

(394,240

)

(432,364

)

PROVISIONS FOR LIABILITIES (14,980 ) (13,762 )
NET ASSETS 261,245 209,760

CAPITAL AND RESERVES
Called up share capital 22,200 22,200
Capital redemption reserve 14,800 14,800
Retained earnings 224,245 172,760
SHAREHOLDERS' FUNDS 261,245 209,760

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 director acknowledges his 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.

J H McNickle & Sons Limited (Registered number: NI012694)

Balance Sheet - continued
31 March 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 director and authorised for issue on 29 September 2023 and were signed by:





Mr B McNickle - Director


J H McNickle & Sons Limited (Registered number: NI012694)

Statement of Changes in Equity
for the year ended 31 March 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   

Balance at 1 April 2021 22,200 106,320 14,800 143,320

Changes in equity
Total comprehensive income - 66,440 - 66,440
Balance at 31 March 2022 22,200 172,760 14,800 209,760

Changes in equity
Total comprehensive income - 51,485 - 51,485
Balance at 31 March 2023 22,200 224,245 14,800 261,245

J H McNickle & Sons Limited (Registered number: NI012694)

Notes to the Financial Statements
for the year ended 31 March 2023


1. STATUTORY INFORMATION

J H McNickle & Sons Limited is a private company, limited by shares , registered in Northern Ireland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2.5% on cost
Plant and machinery etc - 25% on cost and 10% on cost

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.

J H McNickle & Sons Limited (Registered number: NI012694)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 14 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 2,680
AMORTISATION
At 1 April 2022
and 31 March 2023 2,680
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

J H McNickle & Sons Limited (Registered number: NI012694)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 682,532 303,457 985,989
Additions - 20,912 20,912
At 31 March 2023 682,532 324,369 1,006,901
DEPRECIATION
At 1 April 2022 159,883 231,148 391,031
Charge for year 17,063 14,699 31,762
At 31 March 2023 176,946 245,847 422,793
NET BOOK VALUE
At 31 March 2023 505,586 78,522 584,108
At 31 March 2022 522,649 72,309 594,958

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 137,682 124,586
Other debtors - 4,395
137,682 128,981

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 55,639 46,782
Hire purchase contracts (see note 9) - 3,337
Trade creditors 32,469 38,203
Taxation and social security 31,346 23,007
Other creditors 90,332 82,638
209,786 193,967

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 394,240 432,364

J H McNickle & Sons Limited (Registered number: NI012694)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 162,584 230,459
Bounce Back Loan 15,627 -
178,211 230,459

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year - 3,337

Non-cancellable operating leases
2023 2022
£    £   
Within one year 3,434 3,434
Between one and five years 4,580 8,014
8,014 11,448

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 449,879 479,146
Hire purchase contracts - 3,337
449,879 482,483

At 31 March 2023 the Company had provided Barclays Bank with the following security for its borrowings.

A fixed and floating charge over 5 Sloefield Drive, Trooperslane, Carrickfergus.