Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01false33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10675423 2022-01-01 2022-12-31 10675423 2021-01-01 2021-12-31 10675423 2022-12-31 10675423 2021-12-31 10675423 c:Director4 2022-01-01 2022-12-31 10675423 d:MotorVehicles 2022-01-01 2022-12-31 10675423 d:MotorVehicles 2022-12-31 10675423 d:MotorVehicles 2021-12-31 10675423 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 10675423 d:CurrentFinancialInstruments 2022-12-31 10675423 d:CurrentFinancialInstruments 2021-12-31 10675423 d:Non-currentFinancialInstruments 2022-12-31 10675423 d:Non-currentFinancialInstruments 2021-12-31 10675423 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10675423 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 10675423 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10675423 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 10675423 d:ShareCapital 2022-12-31 10675423 d:ShareCapital 2021-12-31 10675423 d:RetainedEarningsAccumulatedLosses 2022-12-31 10675423 d:RetainedEarningsAccumulatedLosses 2021-12-31 10675423 c:FRS102 2022-01-01 2022-12-31 10675423 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 10675423 c:FullAccounts 2022-01-01 2022-12-31 10675423 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 10675423 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 10675423 d:HirePurchaseContracts d:WithinOneYear 2021-12-31 10675423 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 10675423 d:HirePurchaseContracts d:BetweenOneFiveYears 2021-12-31 10675423 2 2022-01-01 2022-12-31 10675423 6 2022-01-01 2022-12-31 10675423 e:PoundSterling 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 10675423










NICHOLAS MFC LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
NICHOLAS MFC LTD
REGISTERED NUMBER: 10675423

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
64,183
-

Investments
 5 
170
-

  
64,353
-

Current assets
  

Debtors: amounts falling due within one year
 6 
244,894
165,209

Cash at bank and in hand
 7 
5,692,490
512,139

  
5,937,384
677,348

Creditors: amounts falling due within one year
 8 
(5,303,579)
(52,306)

Net current assets
  
 
 
633,805
 
 
625,042

Total assets less current liabilities
  
698,158
625,042

Creditors: amounts falling due after more than one year
  
(46,460)
-

  

Net assets
  
651,698
625,042


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
651,598
624,942

  
651,698
625,042


Page 1

 
NICHOLAS MFC LTD
REGISTERED NUMBER: 10675423
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account or the directors' report in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R Robinson
Director

Date: 23 December 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
NICHOLAS MFC LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

The company is a private company limited by shares, incorporated in England and Wales. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
NICHOLAS MFC LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 4

 
NICHOLAS MFC LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.10
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2021 - 3).

Page 5

 
NICHOLAS MFC LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Motor vehicles

£



Cost 


Additions
71,314



At 31 December 2022

71,314



Depreciation


Charge for the year on owned assets
7,131



At 31 December 2022

7,131



Net book value



At 31 December 2022
64,183



At 31 December 2021
-


5.


Fixed asset investments





Investments in associates

£



Valuation


Additions
170



At 31 December 2022
170




Page 6

 
NICHOLAS MFC LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Debtors

2022
2021
£
£


Other debtors
244,794
165,109

Called up share capital not paid
100
100

244,894
165,209



7.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
5,692,490
512,139



8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Corporation tax
-
3,766

Obligations under finance lease and hire purchase contracts
8,905
-

Other creditors
5,290,174
44,400

Accruals and deferred income
4,500
4,140

5,303,579
52,306



9.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Net obligations under finance leases and hire purchase contracts
46,460
-


Page 7

 
NICHOLAS MFC LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2022
2021
£
£


Within one year
8,905
-

Between 1-5 years
46,460
-

55,365
-

 
Page 8