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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
Page
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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
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Nicholas Wells Antiques Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,506 
4,082 
Current assets
Inventories
46,550 
53,650 
Debtors
135,953 
111,491 
Cash at bank and in hand
31,107 
9 
213,610 
165,150 
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)
Net assets
82,062 
30,453 
Capital and reserves
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
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Nicholas Wells Antiques Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred taxation
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
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.
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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 
Additions
- 
- 
1,926 
1,926 
At 31 October 2023
2,357 
3,308 
9,887 
15,552 
Depreciation
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 
Net book value
At 31 October 2023
389 
1,200 
2,917 
4,506 
At 31 October 2022
519 
1,600 
1,963 
4,082 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
27,000 
36,900 
Other debtors
108,953 
74,591 
135,953 
111,491 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
7,139 
VAT
998 
1,355 
Taxes and social security
13,443 
2,859 
Other creditors
4,250 
2,500 
Loans from directors
1,004 
7,865 
Accruals
36,950 
36,850 
56,645 
58,568 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
24,409 
35,211 
Other creditors
55,000 
45,000 
79,409 
80,211 
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Nicholas Wells Antiques Limited Notes to the Accounts for the year ended 31 October 2023
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
2 B Ordinary shares of £1 each
2 
2 
3 
3 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Nicholas Guy Wells
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).
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