1 April 2022 v2023.30.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP073194392022-04-012023-03-31073194392023-03-31073194392022-03-3107319439core:WithinOneYear2023-03-3107319439core:WithinOneYear2022-03-3107319439core:ShareCapital2023-03-3107319439core:ShareCapital2022-03-3107319439core:RetainedEarningsAccumulatedLosses2023-03-3107319439core:RetainedEarningsAccumulatedLosses2022-03-3107319439bus:Director12022-04-012023-03-3107319439bus:RegisteredOffice2022-04-012023-03-3107319439core:PlantMachinery2022-04-012023-03-3107319439core:FurnitureFittings2022-04-012023-03-31073194392021-04-012022-03-3107319439core:PlantMachinery2022-04-0107319439core:PlantMachinery2023-03-3107319439core:PlantMachinery2022-03-3107319439countries:EnglandWales2022-04-012023-03-3107319439bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3107319439bus:PrivateLimitedCompanyLtd2022-04-012023-03-3107319439bus:SmallEntities2022-04-012023-03-3107319439bus:FullAccounts2022-04-012023-03-31
Company registration number:
07319439
Thandi Nicholls Ltd
Unaudited Filleted Financial Statements for the year ended
31 March 2023
Thandi Nicholls Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Thandi Nicholls Ltd
Year ended
31 March 2023
As described on the statement of financial position, the Board of Directors of
Thandi Nicholls Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 March 2023
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Thandi Nicholls Ltd
Glaisher Drive
Wolverhampton
WV10 9TG
United Kingdom
Thandi Nicholls Ltd
Statement of Financial Position
31 March 2023
20232022
Note££
Fixed assets    
Tangible assets 5
29,767
 
13,455
 
Current assets    
Debtors 6
41,381
 
30,623
 
Cash at bank and in hand
273,747
 
260,366
 
315,128
 
290,989
 
Creditors: amounts falling due within one year 7
(284,313
)
(121,777
)
Net current assets
30,815
 
169,212
 
Total assets less current liabilities 60,582   182,667  
Provisions for liabilities
(5,656
) -  
Net assets
54,926
 
182,667
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
54,826
 
182,567
 
Shareholders funds
54,926
 
182,667
 
For the year ending
31 March 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
1 December 2023
, and are signed on behalf of the board by:
S Thandi
Director
Company registration number:
07319439
Thandi Nicholls Ltd
Notes to the Financial Statements
Year ended
31 March 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Creative Industries Centre
,
Glaisher Drive
,
Wolverhampton
,
West Midlands
,
WV10 9TG
, .

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Transition to FRS 102

The entity transitioned from FRS 105 to FRS 102 as at 1st April 2022.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% straight line
Fixtures and fittings
10% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was
22
(2022:
16.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 April 2022
26,314
 
Additions
21,485
 
At
31 March 2023
47,799
 
Depreciation  
At
1 April 2022
12,859
 
Charge
5,173
 
At
31 March 2023
18,032
 
Carrying amount  
At
31 March 2023
29,767
 
At 31 March 2022
13,455
 

6 Debtors

20232022
££
Trade debtors
24,189
 
9,718
 
Other debtors
17,192
 
20,905
 
41,381
 
30,623
 

7 Creditors: amounts falling due within one year

20232022
££
Taxation and social security
99,044
 
79,990
 
Other creditors
185,269
 
41,787
 
284,313
 
121,777
 

8 Directors' advances, credit and guarantees

The company owed £Nil (2022 - £3,500) to its director as at 31st March 2023.

9 Controlling party

The controlling party was K W Nicholls up to 31st May 2022, from 1st June 2022 the controlling party is UK Landlord Tax Limited (14097048) and the entity is a subsidiary of UK Landlord Tax Limited.