Acorah Software Products - Accounts Production 14.5.501 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 SC114070 Mr J Nicol Mr W McGuinness Mrs Laura Lane Mrs A Nicol Nicol Boilers Holdings Ltd. true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC114070 2022-11-30 SC114070 2023-11-30 SC114070 2022-12-01 2023-11-30 SC114070 frs-core:CurrentFinancialInstruments 2023-11-30 SC114070 frs-core:Non-currentFinancialInstruments 2023-11-30 SC114070 frs-core:ComputerEquipment 2023-11-30 SC114070 frs-core:ComputerEquipment 2022-12-01 2023-11-30 SC114070 frs-core:ComputerEquipment 2022-11-30 SC114070 frs-core:FurnitureFittings 2023-11-30 SC114070 frs-core:FurnitureFittings 2022-12-01 2023-11-30 SC114070 frs-core:FurnitureFittings 2022-11-30 SC114070 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-30 SC114070 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 SC114070 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-11-30 SC114070 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-30 SC114070 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 SC114070 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-30 SC114070 frs-core:MotorVehicles 2023-11-30 SC114070 frs-core:MotorVehicles 2022-12-01 2023-11-30 SC114070 frs-core:MotorVehicles 2022-11-30 SC114070 frs-core:PlantMachinery 2023-11-30 SC114070 frs-core:PlantMachinery 2022-12-01 2023-11-30 SC114070 frs-core:PlantMachinery 2022-11-30 SC114070 frs-core:ShareCapital 2023-11-30 SC114070 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 SC114070 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC114070 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 SC114070 frs-bus:SmallEntities 2022-12-01 2023-11-30 SC114070 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 SC114070 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 SC114070 1 2022-12-01 2023-11-30 SC114070 frs-core:UnlistedNon-exchangeTraded 2023-11-30 SC114070 frs-core:UnlistedNon-exchangeTraded 2022-11-30 SC114070 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-11-30 SC114070 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-11-30 SC114070 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-11-30 SC114070 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-11-30 SC114070 frs-bus:Director1 2022-12-01 2023-11-30 SC114070 frs-bus:Director2 2022-12-01 2023-11-30 SC114070 frs-bus:Director3 2022-12-01 2023-11-30 SC114070 frs-bus:Director4 2022-12-01 2023-11-30 SC114070 frs-countries:Scotland 2022-12-01 2023-11-30 SC114070 2021-11-30 SC114070 2022-11-30 SC114070 2021-12-01 2022-11-30 SC114070 frs-core:CurrentFinancialInstruments 2022-11-30 SC114070 frs-core:Non-currentFinancialInstruments 2022-11-30 SC114070 frs-core:ShareCapital 2022-11-30 SC114070 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: SC114070
Nicol Boilers Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: SC114070
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,903,393 1,516,553
Investments 5 130,055 130,055
2,033,448 1,646,608
CURRENT ASSETS
Stocks 6 147,374 117,584
Debtors 7 675,757 761,473
Cash at bank and in hand 636,870 986,322
1,460,001 1,865,379
Creditors: Amounts Falling Due Within One Year 8 (458,640 ) (538,545 )
NET CURRENT ASSETS (LIABILITIES) 1,001,361 1,326,834
TOTAL ASSETS LESS CURRENT LIABILITIES 3,034,809 2,973,442
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (195,151 ) (81,666 )
NET ASSETS 2,839,658 2,891,776
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account 2,838,658 2,890,776
SHAREHOLDERS' FUNDS 2,839,658 2,891,776
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Laura Lane
Director
04/03/2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Nicol Boilers Limited is a private company, limited by shares, incorporated in Scotland, registered number SC114070 . The registered office is High Street Industrial Estate, Shotts, Lanarkshire, ML7 5DR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on Cost
Assets under construction 0%
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Boilers 0%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Page 4
2.6. Financial Instruments
The company only has basic financial instruments.

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

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of trasaction costs, and are measured subsequently at amortised cost ussing the effective interest method.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 35 (2022: 36)
35 36
Page 4
Page 5
4. Tangible Assets
Land & Property
Freehold Assets under construction Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 December 2022 1,454,512 8,650 280,748 740,011
Additions - 75,371 28,913 601,985
Disposals - - - (129,802 )
As at 30 November 2023 1,454,512 84,021 309,661 1,212,194
Depreciation
As at 1 December 2022 411,369 - 189,642 391,534
Provided during the period 29,090 - 30,004 229,338
Disposals - - - (96,691 )
As at 30 November 2023 440,459 - 219,646 524,181
Net Book Value
As at 30 November 2023 1,014,053 84,021 90,015 688,013
As at 1 December 2022 1,043,143 8,650 91,106 348,477
Fixtures & Fittings Boilers Total
£ £ £
Cost
As at 1 December 2022 39,668 15,891 2,539,480
Additions 5,914 - 712,183
Disposals - - (129,802 )
As at 30 November 2023 45,582 15,891 3,121,861
Depreciation
As at 1 December 2022 30,382 - 1,022,927
Provided during the period 3,800 - 292,232
Disposals - - (96,691 )
As at 30 November 2023 34,182 - 1,218,468
Net Book Value
As at 30 November 2023 11,400 15,891 1,903,393
As at 1 December 2022 9,286 15,891 1,516,553
Page 5
Page 6
Cost or valuation as at 30 November 2023 represented by:
Land & Property
Freehold Assets under construction Plant & Machinery Motor Vehicles
£ £ £ £
At cost 1,454,512 84,021 309,661 1,212,194
1,454,512 84,021 309,661 1,212,194
Fixtures & Fittings Boilers Total
£ £ £
At cost 45,582 15,891 3,121,861
45,582 15,891 3,121,861
5. Investments
Unlisted
£
Cost
As at 1 December 2022 130,055
As at 30 November 2023 130,055
Provision
As at 1 December 2022 -
As at 30 November 2023 -
Net Book Value
As at 30 November 2023 130,055
As at 1 December 2022 130,055
Fixed Asset Investments were valued on an open market basis on 30 November 2023 by J M Nicol, Director.
6. Stocks
2023 2022
£ £
Materials 147,374 117,584
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 606,955 710,964
Prepayments and accrued income 40,113 18,796
Other debtors < 1 Year 3,316 3,106
650,384 732,866
...CONTINUED
Page 6
Page 7
Due after more than one year
Other debtors >1 Year 25,373 28,607
25,373 28,607
675,757 761,473
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 198,672 196,107
Corporation tax 14,217 116,226
Other taxes and social security 35,343 31,793
VAT 46,296 125,367
Accruals and deferred income 24,982 4,808
Directors' loan accounts 139,130 64,244
458,640 538,545
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 195,151 81,666
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
11. Ultimate Controlling Party
The immediate and ultimate parent undertaking and controlling party is Nicol Boilers Holdings Limited. The registered office of Nicol Boilers Holdings Limited is High Street Industrial Estate, Shotts, Lanarkshire ML7 5DR.

The shares in Nicol Boilers Holdings Ltd are owned by Mrs Laura Lane, Mrs Agnes Nicol, Mr John Nicol and Mr Stuart Nicol.

Page 7