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REGISTERED NUMBER: 06974291 (England and Wales)




















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: Mrs M Nicholson
Mr J W Nicholson





REGISTERED OFFICE: Burnside House
Cambridge Road
Middlesbrough
TS3 8AG





REGISTERED NUMBER: 06974291 (England and Wales)





ACCOUNTANTS: Lyons & Co Ltd
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 4 379,112 421,712
Investments 5 201 201
379,313 421,913

CURRENT ASSETS
Debtors - 19,252
Cash at bank 1,000 6,691
1,000 25,943
CREDITORS
Amounts falling due within one year 500,385 479,404
NET CURRENT LIABILITIES (499,385 ) (453,461 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(120,072

)

(31,548

)

CREDITORS
Amounts falling due after more than one
year

(72,182

)

(118,288

)

PROVISIONS FOR LIABILITIES (15,299 ) (19,177 )
NET LIABILITIES (207,553 ) (169,013 )

CAPITAL AND RESERVES
Called up share capital 1,300 1,300
Retained earnings (208,853 ) (170,313 )
SHAREHOLDERS' FUNDS (207,553 ) (169,013 )

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

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

NICHOLSON GROUP LTD (REGISTERED NUMBER: 06974291)

ABRIDGED BALANCE SHEET - continued
31 MAY 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 December 2023 and were signed on its behalf by:





Mrs M Nicholson - Director


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 private company, limited by shares , registered in England and Wales. 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.
Leasehold improvements - 20% on cost and 10% on cost
Plant and machinery - 20% on reducing balance and 10% on reducing balance
Motor vehicles - 33% on reducing balance
Computer equipment - 33% on cost

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 8 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022
and 31 May 2023 654,961
DEPRECIATION
At 1 June 2022 233,249
Charge for year 42,600
At 31 May 2023 275,849
NET BOOK VALUE
At 31 May 2023 379,112
At 31 May 2022 421,712

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:


Box Clever Storage Solutions Ltd
Registered office:
Nature of business: Storage
%
Class of shares: holding
Ordinary 100.00
31/5/23 31/5/22
£    £   
Aggregate capital and reserves 136,888 109,352
Profit for the year 27,536 90,023

NICHOLSON GROUP LTD (REGISTERED NUMBER: 06974291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

5. FIXED ASSET INVESTMENTS - continued

Nicholsons Hi-ab Ltd
Registered office:
Nature of business: Hi-ab crane Hauliers
%
Class of shares: holding
Ordinary 100.00
31/5/23 31/5/22
£    £   
Aggregate capital and reserves 28,212 11,054
Loss for the year (39,265 ) (76,746 )

Burnside Distribution Ltd
Registered office:
Nature of business: E Commerce fulfilment
%
Class of shares: holding
Ordinary 100.00
31/5/23 31/5/22
£    £   
Aggregate capital and reserves 26,082 (18,794 )
Profit for the year 44,876 1,702

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 36,106 41,164
Between one and five years 52,182 88,288
88,288 129,452

Non-cancellable operating leases
31/5/23 31/5/22
£    £   
Within one year 110,000 102,887
Between one and five years 440,000 440,000
In more than five years 339,166 449,166
889,166 992,053

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
£    £   
Mr J W Nicholson
Balance outstanding at start of year - 72,000
Amounts advanced - 771
Amounts repaid - (72,771 )
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.