Registered number
07177523
Nicab Limited
Filleted Accounts
30 April 2024
Nicab Limited
Registered number: 07177523
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 208,502 194,412
Current assets
Stocks 10,000 10,000
Debtors 4 632,245 294,695
Cash at bank and in hand 671,466 658,782
1,313,711 963,477
Creditors: amounts falling due within one year 5 (1,081,768) (747,206)
Net current assets 231,943 216,271
Net assets 440,445 410,683
Capital and reserves
Called up share capital 100 100
Profit and loss account 440,345 410,583
Shareholders' funds 440,445 410,683
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Locke
Director
Approved by the board on 2 August 2024
Nicab Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 20 20
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 239,827
Additions 62,629
At 30 April 2024 302,456
Depreciation
At 1 May 2023 45,415
Charge for the year 48,539
At 30 April 2024 93,954
Net book value
At 30 April 2024 208,502
At 30 April 2023 194,412
4 Debtors 2024 2023
£ £
Trade debtors 605,391 262,333
Other debtors 26,854 32,362
632,245 294,695
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 31,055 14,283
Trade creditors 620,301 429,819
Corporation tax 29,633 -
Other taxes and social security costs 97,878 29,442
Other creditors 302,901 273,662
1,081,768 747,206
6 Other information
Nicab Limited is a private company limited by shares and incorporated in England. Its registered office is:
7 Silverstone Park
Silverstone
Towcester
Northants
NN12 8TJ
Nicab Limited 07177523 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts April 2024 N Locke No description of principal activity 07177523 2022-05-01 2023-04-30 07177523 core:WithinOneYear 2023-04-30 07177523 core:ShareCapital 2023-04-30 07177523 core:RetainedEarningsAccumulatedLosses 2023-04-30 07177523 2023-05-01 2024-04-30 07177523 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07177523 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 07177523 bus:Director40 2023-05-01 2024-04-30 07177523 1 2023-05-01 2024-04-30 07177523 core:PlantMachinery 2023-05-01 2024-04-30 07177523 countries:England 2023-05-01 2024-04-30 07177523 bus:FRS102 2023-05-01 2024-04-30 07177523 bus:FilletedAccounts 2023-05-01 2024-04-30 07177523 2024-04-30 07177523 core:WithinOneYear 2024-04-30 07177523 core:ShareCapital 2024-04-30 07177523 core:RetainedEarningsAccumulatedLosses 2024-04-30 07177523 core:PlantMachinery 2024-04-30 07177523 2023-04-30 07177523 core:PlantMachinery 2023-04-30 iso4217:GBP xbrli:pure