Company Registration No. 09048070 (England and Wales)
Nicholas Wells Antiques Limited
Unaudited accounts
for the year ended 31 October 2023
Nicholas Wells Antiques Limited
Unaudited accounts
Contents
Nicholas Wells Antiques Limited
Company Information
for the year ended 31 October 2023
Director
Nicholas Guy Wells
Company Number
09048070 (England and Wales)
Registered Office
Third Floor
207 Regent Street
London
W1B 3HH
Accountants
Redwood Accountants
26 Martingale Grove
Arborfield Green
Reading
Berkshire
RG2 9HD
Nicholas Wells Antiques Limited
Statement of financial position
as at 31 October 2023
Tangible assets
4,506
4,082
Cash at bank and in hand
31,107
9
Creditors: amounts falling due within one year
(56,645)
(58,568)
Net current assets
156,965
106,582
Total assets less current liabilities
161,471
110,664
Creditors: amounts falling due after more than one year
(79,409)
(80,211)
Called up share capital
3
3
Profit and loss account
82,059
30,450
Shareholders' funds
82,062
30,453
For the year ending 31 October 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 July 2024 and were signed on its behalf by
Nicholas Guy Wells
Director
Company Registration No. 09048070
Nicholas Wells Antiques Limited
Notes to the Accounts
for the year ended 31 October 2023
Nicholas Wells Antiques Limited is a private company, limited by shares, registered in England and Wales, registration number 09048070. The registered office is Third Floor, 207 Regent Street, London, W1B 3HH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Nicholas Wells Antiques Limited
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2022
2,357
3,308
7,961
13,626
At 31 October 2023
2,357
3,308
9,887
15,552
At 1 November 2022
1,838
1,708
5,998
9,544
Charge for the year
130
400
972
1,502
At 31 October 2023
1,968
2,108
6,970
11,046
At 31 October 2023
389
1,200
2,917
4,506
At 31 October 2022
519
1,600
1,963
4,082
Amounts falling due within one year
Trade debtors
27,000
36,900
Other debtors
108,953
74,591
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
-
7,139
Taxes and social security
13,443
2,859
Other creditors
4,250
2,500
Loans from directors
1,004
7,865
7
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
55,000
45,000
Nicholas Wells Antiques Limited
Notes to the Accounts
for the year ended 31 October 2023
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
2 B Ordinary shares of £1 each
2
2
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors loan
(7,865)
41,827
34,966
(1,004)
(7,865)
41,827
34,966
(1,004)
Loans are provided interest free with no set repayment terms.
10
Average number of employees
During the year the average number of employees was 3 (2022: 3).