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REGISTERED NUMBER: SC635949 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

NICHOL SMITH INVESTMENTS LTD

NICHOL SMITH INVESTMENTS LTD (REGISTERED NUMBER: SC635949)

Contents of the Financial Statements
for the Year Ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NICHOL SMITH INVESTMENTS LTD

Company Information
for the Year Ended 31 July 2023







DIRECTORS: S McSkimming
R McSkimming





REGISTERED OFFICE: 5 Carden Place
Aberdeen
AB10 1UT





REGISTERED NUMBER: SC635949 (Scotland)






NICHOL SMITH INVESTMENTS LTD (REGISTERED NUMBER: SC635949)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,956 34,343
Investment property 5 388,176 -
419,132 34,343

CURRENT ASSETS
Stocks 292,256 278,450
Debtors 6 128,440 124,093
Cash at bank 5,987 65,866
426,683 468,409
CREDITORS
Amounts falling due within one year 7 609,413 478,081
NET CURRENT LIABILITIES (182,730 ) (9,672 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

236,402

24,671

CREDITORS
Amounts falling due after more than one
year

8

304,912

39,705
NET LIABILITIES (68,510 ) (15,034 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (68,610 ) (15,134 )
(68,510 ) (15,034 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

NICHOL SMITH INVESTMENTS LTD (REGISTERED NUMBER: SC635949)

Balance Sheet - continued
31 July 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 29 January 2024 and were signed on its behalf by:





R McSkimming - Director


NICHOL SMITH INVESTMENTS LTD (REGISTERED NUMBER: SC635949)

Notes to the Financial Statements
for the Year Ended 31 July 2023


1. STATUTORY INFORMATION

Nichol Smith Investments Ltd is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 15% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

NICHOL SMITH INVESTMENTS LTD (REGISTERED NUMBER: SC635949)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


2. ACCOUNTING POLICIES - continued

Going concern
These accounts have been prepared on the going concern basis, on the understanding the directors and shareholders will continue to financially support the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 August 2022 - 39,249 39,249
Additions 3,000 - 3,000
At 31 July 2023 3,000 39,249 42,249
DEPRECIATION
At 1 August 2022 - 4,906 4,906
Charge for year 500 5,887 6,387
At 31 July 2023 500 10,793 11,293
NET BOOK VALUE
At 31 July 2023 2,500 28,456 30,956
At 31 July 2022 - 34,343 34,343

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 388,176
At 31 July 2023 388,176
NET BOOK VALUE
At 31 July 2023 388,176

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 128,440 124,093

NICHOL SMITH INVESTMENTS LTD (REGISTERED NUMBER: SC635949)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 948 -
Amounts owed to group undertakings 44,226 -
Other creditors 564,239 478,081
609,413 478,081

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 304,912 39,705

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 203,384 19,705

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors