REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
NICHOLSON GROUP LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
NICHOLSON GROUP LTD |
NICHOLSON GROUP LTD (REGISTERED NUMBER: 06974291) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
NICHOLSON GROUP LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
23 Yarm Road |
Stockton on Tees |
TS18 3NJ |
NICHOLSON GROUP LTD (REGISTERED NUMBER: 06974291) |
ABRIDGED BALANCE SHEET |
31 MAY 2023 |
31/5/23 | 31/5/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
NICHOLSON GROUP LTD (REGISTERED NUMBER: 06974291) |
ABRIDGED BALANCE SHEET - continued |
31 MAY 2023 |
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 |
NICHOLSON GROUP LTD (REGISTERED NUMBER: 06974291) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
1. | STATUTORY INFORMATION |
Nicholson Group Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Leasehold improvements | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
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. |
NICHOLSON GROUP LTD (REGISTERED NUMBER: 06974291) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The director has carefully considered the position of the company at the balance sheet date and expected future cash flows and believes the company is a going concern. The company relies upon the financial support from other group companies to enable it to continue trading. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 June 2022 |
and 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for year |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 June 2022 |
and 31 May 2023 | 201 |
NET BOOK VALUE |
At 31 May 2023 | 201 |
At 31 May 2022 | 201 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
31/5/23 | 31/5/22 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
NICHOLSON GROUP LTD (REGISTERED NUMBER: 06974291) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
5. | FIXED ASSET INVESTMENTS - continued |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
31/5/23 | 31/5/22 |
£ | £ |
Aggregate capital and reserves |
Loss for the year | ( |
) | ( |
) |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
31/5/23 | 31/5/22 |
£ | £ |
Aggregate capital and reserves | ( |
) |
Profit for the year |
6. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
31/5/23 | 31/5/22 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating | leases |
31/5/23 | 31/5/22 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
NICHOLSON GROUP LTD (REGISTERED NUMBER: 06974291) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022: |
31/5/23 | 31/5/22 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Interest on directors loans is charged at a rate of 2% p.a. |
8. | RELATED PARTY DISCLOSURES |
Under FRS102, related party disclosures with other wholly-owned members of the group need not be |
disclosed. Details of group companies are shown in the note above. |
Mrs M Nicholson and Mr J W Nicholson are also directors of other companies outside of the group. |
During the year the company recharged costs amounting to £43,983, £24,035, £15,644,£22,096 and £11,669 to J N Rusticus Ltd, Burnside E-Commerce Fulfillment Ltd, Prospect House Investments Ltd, The Qualis Collection Limited and Prospect Property Management Ltd respectively. |
At the year end £27,561, £15,801, £9,935 and £5,900 was owed by the company to J N Rusticus Ltd, Prospect House Investments Ltd and Burnside E-Commerce Fulfillment Ltd respectively. The Qualis Collection Ld was owed £317 by the company. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mrs M Nicholson. |