Company registration number 10653293 (England and Wales)
NICOL HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
NICOL HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mr M G Nicol
Mrs K L Nicol
Company number
10653293
Registered office
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Handelsbanken
Unit 4
The Triangle
Wildwood Drive
Worcester
Worcestershire
WR5 2QX
Lloyds Bank plc
4 The Cross
Worcester
Worcestershire
WR1 3PY
NICOL HOLDINGS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
NICOL HOLDINGS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NICOL HOLDINGS LIMITED FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nicol Holdings Limited for the year ended 31 December 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Nicol Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nicol Holdings Limited and state those matters that we have agreed to state to the board of directors of Nicol Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nicol Holdings Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Nicol Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nicol Holdings Limited. You consider that Nicol Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nicol Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
18 June 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
NICOL HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
272
-
0
Tangible assets
4
766,582
770,573
Investments
5
155
154
767,009
770,727
Current assets
Debtors
6
553,666
365,116
Cash at bank and in hand
4,376
129,758
558,042
494,874
Creditors: amounts falling due within one year
7
(375,281)
(257,831)
Net current assets
182,761
237,043
Total assets less current liabilities
949,770
1,007,770
Creditors: amounts falling due after more than one year
8
(296,134)
(314,536)
Provisions for liabilities
10
(17,596)
(14,131)
Net assets
636,040
679,103
Capital and reserves
Called up share capital
11
200
200
Profit and loss reserves
635,840
678,903
Total equity
636,040
679,103

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

NICOL HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 18 June 2024 and are signed on its behalf by:
Mr M G Nicol
Director
Company registration number 10653293 (England and Wales)
NICOL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

Nicol Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Oakley, Kidderminster Road, Droitwich, Worcestershire, WR9 9AY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents and licences
5 years
1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
not provided
Fixtures and fittings
25% on reducing balance

No depreciation is provided on freehold property. This treatment may be a departure from the requirements of Companies Act 2006 concerning depreciation of fixed assets, however, the company follows a program of regular refurbishment and maintenance of its properties, which includes the reinstatement of the fabric of the buildings where necessary in order to maintain them to a high standard. Accordingly, in the opinion of the directors, any element of depreciation would be immaterial and no provision has been made, as the residual value would be in excess of cost.

NICOL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

NICOL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Intangible fixed assets
Patents and licences
£
Cost
At 1 January 2023
-
0
Additions
340
At 31 December 2023
340
Amortisation and impairment
At 1 January 2023
-
0
Amortisation charged for the year
68
At 31 December 2023
68
Carrying amount
At 31 December 2023
272
At 31 December 2022
-
0
4
Tangible fixed assets
Freehold property
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
754,613
37,834
792,447
Depreciation and impairment
At 1 January 2023
-
0
21,874
21,874
Depreciation charged in the year
-
0
3,991
3,991
At 31 December 2023
-
0
25,865
25,865
Carrying amount
At 31 December 2023
754,613
11,969
766,582
At 31 December 2022
754,613
15,960
770,573
NICOL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
5
Fixed asset investments
2023
2022
£
£
Investments
155
154
Movements in fixed asset investments
Shares in group undertakings and participating interests
£
Cost or valuation
At 1 January 2023
154
Additions
1
At 31 December 2023
155
Carrying amount
At 31 December 2023
155
At 31 December 2022
154
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
266,905
169,170
Other debtors
286,761
195,946
553,666
365,116
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
19,025
19,647
Amounts owed to group undertakings
348,855
231,641
Taxation and social security
6,081
5,221
Other creditors
1,320
1,322
375,281
257,831
NICOL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
296,134
314,536
9
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Bank loans
315,159
334,183
Bank loans are secured by way of a fixed and floating charge over all assets of the company or by way of a government-backed guarantee.
10
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
17,596
14,131
11
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
190
190
190
190
Ordinary B of £1 each
10
10
10
10
200
200
200
200
12
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13
Ultimate controlling party

The ultimate controlling party is Mr M G Nicol.

2023-12-312023-01-01false18 June 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr M G NicolMrs K L Nicolfalsefalse106532932023-01-012023-12-3110653293bus:Director12023-01-012023-12-3110653293bus:Director22023-01-012023-12-3110653293bus:RegisteredOffice2023-01-012023-12-3110653293bus:Agent12023-01-012023-12-31106532932023-12-31106532932022-12-3110653293core:PatentsTrademarksLicencesConcessionsSimilar2023-12-3110653293core:PatentsTrademarksLicencesConcessionsSimilar2022-12-3110653293core:LandBuildingscore:OwnedOrFreeholdAssets2023-12-3110653293core:FurnitureFittings2023-12-3110653293core:LandBuildingscore:OwnedOrFreeholdAssets2022-12-3110653293core:FurnitureFittings2022-12-3110653293core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3110653293core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3110653293core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3110653293core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3110653293core:CurrentFinancialInstruments2023-12-3110653293core:CurrentFinancialInstruments2022-12-3110653293core:ShareCapital2023-12-3110653293core:ShareCapital2022-12-3110653293core:RetainedEarningsAccumulatedLosses2023-12-3110653293core:RetainedEarningsAccumulatedLosses2022-12-3110653293core:ShareCapitalOrdinaryShares2023-12-3110653293core:ShareCapitalOrdinaryShares2022-12-3110653293core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3110653293core:LandBuildingscore:OwnedOrFreeholdAssets2023-01-012023-12-3110653293core:FurnitureFittings2023-01-012023-12-31106532932022-01-012022-12-3110653293core:PatentsTrademarksLicencesConcessionsSimilar2022-12-3110653293core:PatentsTrademarksLicencesConcessionsSimilarcore:ExternallyAcquiredIntangibleAssets2023-01-012023-12-3110653293core:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3110653293core:LandBuildingscore:OwnedOrFreeholdAssets2022-12-3110653293core:FurnitureFittings2022-12-31106532932022-12-3110653293core:WithinOneYear2023-12-3110653293core:WithinOneYear2022-12-3110653293core:Non-currentFinancialInstruments2023-12-3110653293core:Non-currentFinancialInstruments2022-12-3110653293bus:PrivateLimitedCompanyLtd2023-01-012023-12-3110653293bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3110653293bus:FRS1022023-01-012023-12-3110653293bus:AuditExemptWithAccountantsReport2023-01-012023-12-3110653293bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP