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REGISTERED NUMBER: 02812034 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 30 April 2023

for

L.C. Nicholas Limited

L.C. Nicholas Limited (Registered number: 02812034)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L.C. Nicholas Limited

Company Information
for the Year Ended 30 April 2023







DIRECTOR: L D Nicholas





REGISTERED OFFICE: 12a Marlborough Place
BRIGHTON
East Sussex
BN1 1WN





REGISTERED NUMBER: 02812034 (England and Wales)





ACCOUNTANTS: Clarke Goodhand Smith Limited
12a Marlborough Place
BRIGHTON
East Sussex
BN1 1WN

L.C. Nicholas Limited (Registered number: 02812034)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 238,625 217,643

CURRENT ASSETS
Stocks 416,760 345,014
Debtors 5 5,473 28,210
Cash at bank 756,523 807,207
1,178,756 1,180,431
CREDITORS
Amounts falling due within one
year

6

98,553

112,187
NET CURRENT ASSETS 1,080,203 1,068,244
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,318,828

1,285,887

CREDITORS
Amounts falling due after more
than one year

7

(14,447

)

-

PROVISIONS FOR LIABILITIES 8 (5,093 ) (997 )
NET ASSETS 1,299,288 1,284,890

CAPITAL AND RESERVES
Called up share capital 9 300 300
Revaluation reserve 10 233,184 233,184
Retained earnings 10 1,065,804 1,051,406
SHAREHOLDERS' FUNDS 1,299,288 1,284,890

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

L.C. Nicholas Limited (Registered number: 02812034)

Balance Sheet - continued
30 April 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 1 November 2023 and were signed by:





L D Nicholas - Director


L.C. Nicholas Limited (Registered number: 02812034)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

L.C. Nicholas 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 and services, 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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

L.C. Nicholas Limited (Registered number: 02812034)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

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.

Freehold investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 May 2022 177,960 32,522 2,504
Additions - - 594
Disposals - - -
At 30 April 2023 177,960 32,522 3,098
DEPRECIATION
At 1 May 2022 628 - 1,226
Charge for year - - 375
Eliminated on disposal - - -
At 30 April 2023 628 - 1,601
NET BOOK VALUE
At 30 April 2023 177,332 32,522 1,497
At 30 April 2022 177,332 32,522 1,278

L.C. Nicholas Limited (Registered number: 02812034)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2022 960 43,360 2,203 259,509
Additions - 32,451 42 33,087
Disposals - (11,500 ) - (11,500 )
At 30 April 2023 960 64,311 2,245 281,096
DEPRECIATION
At 1 May 2022 271 37,755 1,986 41,866
Charge for year 104 8,832 65 9,376
Eliminated on disposal - (8,771 ) - (8,771 )
At 30 April 2023 375 37,816 2,051 42,471
NET BOOK VALUE
At 30 April 2023 585 26,495 194 238,625
At 30 April 2022 689 5,605 217 217,643

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 214 22,000
Tax 319 -
VAT - 2,076
Prepayments and accrued income 4,940 4,134
5,473 28,210

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Hire purchase contracts 10,180 -
Trade creditors 31,177 17,538
Tax - 56,308
Social security and other taxes 2,455 2,448
VAT 9,390 -
Other creditors 1,500 1,000
Rent deposits held 700 700
Barclaycard 359 607
CIS 959 1,056
Director's current account 37,703 28,400
Accruals and deferred income 4,130 4,130
98,553 112,187

L.C. Nicholas Limited (Registered number: 02812034)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.23 30.4.22
£    £   
Hire purchase contracts 14,447 -

8. PROVISIONS FOR LIABILITIES
30.4.23 30.4.22
£    £   
Deferred tax 5,093 997

Deferred
tax
£   
Balance at 1 May 2022 997
Accelerated capital allowances 4,096
Balance at 30 April 2023 5,093

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
300 Ordinary £1 300 300

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 May 2022 1,051,406 233,184 1,284,590
Profit for the year 24,398 24,398
Dividends (10,000 ) (10,000 )
At 30 April 2023 1,065,804 233,184 1,298,988

11. CONTROLLING PARTY

The company was controlled by its director, L D Nicholas, throughout the period.