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REGISTERED NUMBER: 05987437 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Paul Cameron Nicholson Limited

Paul Cameron Nicholson Limited (Registered number: 05987437)






Contents of the Financial Statements
for the year ended 30 September 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Paul Cameron Nicholson Limited

Company Information
for the year ended 30 September 2023







DIRECTORS: P C Nicholson
Mrs S L Nicholson





SECRETARY: Mrs S L Nicholson





REGISTERED OFFICE: Datum House
Electra Way
Crewe
Cheshire
CW1 6ZF





REGISTERED NUMBER: 05987437 (England and Wales)

Paul Cameron Nicholson Limited (Registered number: 05987437)

Statement of Financial Position
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 143 191
143 191

CURRENT ASSETS
Stocks 5,300 5,000
Debtors 7 - 19,293
Cash at bank 1,922 2,918
7,222 27,211
CREDITORS
Amounts falling due within one year 8 31,809 27,286
NET CURRENT LIABILITIES (24,587 ) (75 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(24,444

)

116

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (24,544 ) 16
SHAREHOLDERS' FUNDS (24,444 ) 116

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

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

Paul Cameron Nicholson Limited (Registered number: 05987437)

Statement of Financial Position - continued
30 September 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 January 2024 and were signed on its behalf by:





P C Nicholson - Director


Paul Cameron Nicholson Limited (Registered number: 05987437)

Notes to the Financial Statements
for the year ended 30 September 2023

1. STATUTORY INFORMATION

Paul Cameron Nicholson Limited ('The Company') is primarily engaged in the retail of menswear.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the registered office is Datum House, Electra Way, Crewe, Cheshire, CW1 6ZF. The principle place of business is 7 Pillory Street, Nantwich, Cheshire, CW5 5BZ. The registered number can be found on the Company Information page.

The functional and presentational currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Summary of significant accounting policies
The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern
No other material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

On this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Paul Cameron Nicholson Limited (Registered number: 05987437)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates so as to write off their cost less residual amounts over their estimated useful economic lives. Assets are also reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the assets carrying amount exceeds its recoverable amount.

Plant and machinery- 25% on reducing balance
Fixtures and fittings- 25% on reducing balance
Computer equipment- 33% on cost

The residual values and useful lives of assets are reviewed and adjusted if appropriate at each statement of financial position date.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value).

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the discounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Paul Cameron Nicholson Limited (Registered number: 05987437)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

3. ACCOUNTING POLICIES - continued

Impairment of assets
Assets not measured at fair value are reviewed for any indications that the asset may be impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 45,000
AMORTISATION
At 1 October 2022
and 30 September 2023 45,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 October 2022
and 30 September 2023 1,029 560 1,178 2,767
DEPRECIATION
At 1 October 2022 925 473 1,178 2,576
Charge for year 26 22 - 48
At 30 September 2023 951 495 1,178 2,624
NET BOOK VALUE
At 30 September 2023 78 65 - 143
At 30 September 2022 104 87 - 191

Paul Cameron Nicholson Limited (Registered number: 05987437)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 19,293

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 17,429 13,863
Taxation and social security 12,731 11,974
Other creditors 1,649 1,449
31,809 27,286

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
P C Nicholson
Balance outstanding at start of year 19,293 9,766
Amounts advanced 15,780 42,200
Amounts repaid - (22,906 )
Amounts written off (35,073 ) (9,767 )
Amounts waived - -
Balance outstanding at end of year - 19,293