Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01truetrue8No description of principal activityfalse7The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC243828 2023-04-01 2024-03-31 SC243828 2021-11-01 2023-03-31 SC243828 2024-03-31 SC243828 2023-03-31 SC243828 c:CompanySecretary1 2023-04-01 2024-03-31 SC243828 c:Director1 2023-04-01 2024-03-31 SC243828 c:RegisteredOffice 2023-04-01 2024-03-31 SC243828 d:Buildings 2023-04-01 2024-03-31 SC243828 d:Buildings 2024-03-31 SC243828 d:Buildings 2023-03-31 SC243828 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC243828 d:PlantMachinery 2023-04-01 2024-03-31 SC243828 d:PlantMachinery 2024-03-31 SC243828 d:PlantMachinery 2023-03-31 SC243828 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC243828 d:MotorVehicles 2023-04-01 2024-03-31 SC243828 d:MotorVehicles 2024-03-31 SC243828 d:MotorVehicles 2023-03-31 SC243828 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC243828 d:OfficeEquipment 2023-04-01 2024-03-31 SC243828 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC243828 d:CurrentFinancialInstruments 2024-03-31 SC243828 d:CurrentFinancialInstruments 2023-03-31 SC243828 d:Non-currentFinancialInstruments 2024-03-31 SC243828 d:Non-currentFinancialInstruments 2023-03-31 SC243828 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC243828 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC243828 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC243828 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC243828 d:ShareCapital 2024-03-31 SC243828 d:ShareCapital 2023-03-31 SC243828 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC243828 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC243828 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC243828 c:OrdinaryShareClass1 2024-03-31 SC243828 c:OrdinaryShareClass1 2023-03-31 SC243828 c:FRS102 2023-04-01 2024-03-31 SC243828 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC243828 c:FullAccounts 2023-04-01 2024-03-31 SC243828 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC243828 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC243828










NISSEN CHRISTMAS TREES LIMITED
FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 MARCH 2024

 
NISSEN CHRISTMAS TREES LIMITED
 

COMPANY INFORMATION


Director
Anders Nissen 




Company secretary
Mrs Amanda Nissen



Registered number
SC243828



Registered office
Bankfield, Balbeuchley
Auchterhouse

Dundee

DD3 0QX




Accountants
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
NISSEN CHRISTMAS TREES LIMITED
REGISTERED NUMBER: SC243828

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

FIXED ASSETS
  

Tangible fixed assets
  
2,443,439
2,107,705

Investments
 5 
50
50

  
2,443,489
2,107,755

CURRENT ASSETS
  

Stocks
  
938,595
985,789

Debtors: amounts falling due within one year
 6 
21,979
22,124

Cash at bank and in hand
  
14,986
108,156

  
975,560
1,116,069

Creditors: amounts falling due within one year
 7 
(383,062)
(404,508)

NET CURRENT ASSETS
  
 
 
592,498
 
 
711,561

TOTAL ASSETS LESS CURRENT LIABILITIES
  
3,035,987
2,819,316

Creditors: amounts falling due after more than one year
 8 
(485,865)
(281,241)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(46,142)
(64,842)

  
 
 
(46,142)
 
 
(64,842)

NET ASSETS
  
2,503,980
2,473,233


CAPITAL AND RESERVES
  

Called up share capital 
 9 
4
4

Profit and loss account
  
2,503,976
2,473,229

  
2,503,980
2,473,233


Page 1

 
NISSEN CHRISTMAS TREES LIMITED
REGISTERED NUMBER: SC243828

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the 12 months in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 July 2024.




Anders Nissen
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
NISSEN CHRISTMAS TREES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

Nissen Christmas Trees Limited is a private company, limited by shares, incorporated  in Scotland with registration number SC243828. The registered office is Bankfield, Balbeuchley, Auchterhouse, Dundee, Scotland, DD3 0QX.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
NISSEN CHRISTMAS TREES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

CURRENT AND DEFERRED TAXATION

The tax expense for the 12 months comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as per noted below.

Depreciation is provided on the following basis:

Heritable property
-
4%
straight line
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
NISSEN CHRISTMAS TREES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.8

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including the director, during the 12 months was as follows:


  12 months ended
       31 March
   17 months ended
        31 March
        2024
        2023
            No.
            No.







Employees
8
7

Page 5

 
NISSEN CHRISTMAS TREES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 MARCH 2024

4.


TANGIBLE FIXED ASSETS





Heritable property
Plant and machinery
Motor vehicles
Total

£
£
£
£



COST OR VALUATION


At 1 April 2023
1,884,015
510,015
44,859
2,438,889


Additions
352,487
12,133
68,500
433,120



At 31 March 2024

2,236,502
522,148
113,359
2,872,009



DEPRECIATION


At 1 April 2023
34,761
267,749
28,674
331,184


Charge for the 12 months on owned assets
12,613
63,602
21,171
97,386



At 31 March 2024

47,374
331,351
49,845
428,570



NET BOOK VALUE



At 31 March 2024
2,189,128
190,797
63,514
2,443,439



At 31 March 2023
1,849,254
242,266
16,185
2,107,705


5.


FIXED ASSET INVESTMENTS





Trade investments

£





At 1 April 2023
50





6.


DEBTORS

2024
2023
£
£


Trade debtors
16,084
-

Other debtors
1,591
13,121

Prepayments and accrued income
4,304
9,003

21,979
22,124


Page 6

 
NISSEN CHRISTMAS TREES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 MARCH 2024

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
141,465
154,755

Trade creditors
22,277
13,730

Other taxation and social security
43,448
144,765

Obligations under finance lease and hire purchase contracts
34,663
22,010

Other creditors
131,941
59,265

Accruals and deferred income
9,268
9,983

383,062
404,508


Bank loans are secured by a floating charge covering all the property, land or undertaking of the company.


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
466,531
255,870

Net obligations under finance leases and hire purchase contracts
16,706
22,010

Other creditors
2,628
3,361

485,865
281,241


Bank loans are secured by a floating charge covering all the property, land or undertaking of the company.


9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



4 (2023 - 4) Ordinary shares of £1.00 each
4
4



Page 7