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REGISTERED NUMBER: 05228800 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

NIC SPROSON LTD

NIC SPROSON LTD (REGISTERED NUMBER: 05228800)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NIC SPROSON LTD

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: N J Sproson
Mrs C A M Prindezis





REGISTERED OFFICE: 52 Barbourne Road
Worcester
WR1 1JA





REGISTERED NUMBER: 05228800 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY

NIC SPROSON LTD (REGISTERED NUMBER: 05228800)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 52,900 15,767
52,900 15,767

CURRENT ASSETS
Stocks 43,562 40,244
Debtors 6 22,356 56,427
Cash at bank and in hand 206,042 171,365
271,960 268,036
CREDITORS
Amounts falling due within one year 7 59,654 61,464
NET CURRENT ASSETS 212,306 206,572
TOTAL ASSETS LESS CURRENT
LIABILITIES

265,206

222,339

CREDITORS
Amounts falling due after more than one
year

8

(56,871

)

(32,387

)

PROVISIONS FOR LIABILITIES (10,052 ) (2,996 )
NET ASSETS 198,283 186,956

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 198,183 186,856
SHAREHOLDERS' FUNDS 198,283 186,956

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 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.

NIC SPROSON LTD (REGISTERED NUMBER: 05228800)

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 Board of Directors and authorised for issue on 17 November 2023 and were signed on its behalf by:





N J Sproson - Director


NIC SPROSON LTD (REGISTERED NUMBER: 05228800)

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


1. STATUTORY INFORMATION

Nic Sproson Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

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 etc - 25% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

NIC SPROSON LTD (REGISTERED NUMBER: 05228800)

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


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The assets of the scheme are held separately from those of the company in independently administered schemes.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 175,000
AMORTISATION
At 1 April 2022
and 31 March 2023 175,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 62,228
Additions 54,601
At 31 March 2023 116,829
DEPRECIATION
At 1 April 2022 46,461
Charge for year 17,468
At 31 March 2023 63,929
NET BOOK VALUE
At 31 March 2023 52,900
At 31 March 2022 15,767

NIC SPROSON LTD (REGISTERED NUMBER: 05228800)

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


6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 5,539 1,219
Other debtors 13,468 55,208
19,007 56,427

Amounts falling due after more than one year:
Other debtors 3,349 -

Aggregate amounts 22,356 56,427

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,952 9,707
Finance leases 4,078 -
Trade creditors 29,123 23,692
Taxation and social security 13,405 24,742
Other creditors 3,096 3,323
59,654 61,464

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,436 32,387
Finance leases 34,435 -
56,871 32,387

Amounts falling due in more than five years:

Repayable by instalments
Finance leases 12,687 -

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the director’s current account was overdrawn, the maximum amount £50,710 (2022 £48,067) and the year end balance was £6,958 (2022 £48,067).

10. ULTIMATE CONTROLLING PARTY

The controlling party is N J Sproson.