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REGISTERED NUMBER: 09516142 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Nic Joly Limited

Nic Joly Limited (Registered number: 09516142)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Statement of Changes in Equity 4

Notes to the Financial Statements 5


Nic Joly Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N A Joly
Mrs C J Joly





REGISTERED OFFICE: Prospect Road
Alresford
Hampshire
SO24 9QF





REGISTERED NUMBER: 09516142 (England and Wales)





ACCOUNTANTS: Butler & Co Alresford Limited
Chartered Accountants
Bennett House
The Dean
Alresford
Hampshire
SO24 9BH

Nic Joly Limited (Registered number: 09516142)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,646 34,164
Investments 5 84,848 84,848
124,494 119,012

CURRENT ASSETS
Stocks 2,750 750
Debtors 6 121,441 158,048
Cash at bank 108,495 166,905
232,686 325,703
CREDITORS
Amounts falling due within one year 7 142,967 133,541
NET CURRENT ASSETS 89,719 192,162
TOTAL ASSETS LESS CURRENT
LIABILITIES

214,213

311,174

CREDITORS
Amounts falling due after more than one
year

8

(30,111

)

(34,906

)

PROVISIONS FOR LIABILITIES 9 (3,287 ) (2,550 )
NET ASSETS 180,815 273,718

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 180,715 273,618
SHAREHOLDERS' FUNDS 180,815 273,718

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Nic Joly Limited (Registered number: 09516142)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:





N A Joly - Director


Nic Joly Limited (Registered number: 09516142)

Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 100 207,242 207,342

Changes in equity
Profit for the year - 190,376 190,376
Total comprehensive income - 190,376 190,376
Dividends - (124,000 ) (124,000 )
Balance at 31 March 2023 100 273,618 273,718

Changes in equity
Profit for the year - 53,097 53,097
Total comprehensive income - 53,097 53,097
Dividends - (146,000 ) (146,000 )
Balance at 31 March 2024 100 180,715 180,815

Nic Joly Limited (Registered number: 09516142)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Nic Joly Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Debtors includes amounts recoverable on service contracts. Where the outcome of a transaction can be estimated reliably, revenue is recognised by reference to the stage of completion of the transaction at the balance sheet date (in accordance with FRS 102 paragraph 23.14).

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance basis
Motor vehicles - 10% on cost
Computer equipment - 33% reducing balance basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Nic Joly Limited (Registered number: 09516142)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 17,502 27,491 5,000 9,764 59,757
Additions 5,934 - - 3,829 9,763
At 31 March 2024 23,436 27,491 5,000 13,593 69,520
DEPRECIATION
At 1 April 2023 - 18,588 500 6,505 25,593
Charge for year - 1,521 500 2,260 4,281
At 31 March 2024 - 20,109 1,000 8,765 29,874
NET BOOK VALUE
At 31 March 2024 23,436 7,382 4,000 4,828 39,646
At 31 March 2023 17,502 8,903 4,500 3,259 34,164

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 84,848
NET BOOK VALUE
At 31 March 2024 84,848
At 31 March 2023 84,848

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts recoverable on service contracts 31,510 88,742
N J Arts Limited 64,519 48,217
Directors' current accounts 23,412 19,589
Prepayments 2,000 1,500
121,441 158,048

Nic Joly Limited (Registered number: 09516142)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 13,000 26,000
BBLS (Bounce Back Loan Scheme) 6,000 6,000
Trade creditors 74,359 33,257
Corporation tax 17,129 43,683
Social security and other taxes 4,055 567
VAT 13,248 16,096
Accrued expenses 15,176 7,938
142,967 133,541

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
BBLS (Bounce Back Loan Scheme) 30,111 34,906

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,287 2,550

Deferred
tax
£   
Balance at 1 April 2023 2,550
Accelerated capital allowances 737
Balance at 31 March 2024 3,287

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
40 Ordinary 'A' £1 40 40
40 Ordinary 'B' £1 40 40
20 Ordinary 'C' £1 20 20
100 100

The Ordinary 'A' shares, Ordinary 'B' shares and Ordinary 'C' shares rank pari passu in all respects except that dividends may be paid to the holders of one class of shares to the exclusion of the other at the director's discretion.

Nic Joly Limited (Registered number: 09516142)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
N A Joly
Balance outstanding at start of year 9,737 9,409
Amounts advanced 1,969 328
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,706 9,737

Mrs C J Joly
Balance outstanding at start of year 9,852 9,409
Amounts advanced 1,854 443
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,706 9,852

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £146,000 (2023 - £124,000) were paid to the directors .

N J Arts Limited
A company owned by the directors

During the period under review the company paid rent amounting to £18,000 (2023 - £18,000) to N J Arts Limited.

Amount due from related party at balance sheet date
2024 2023
£ £
N A Joly - director 11,706 9,737
Mrs C J Joly - director 11,706 9,852
N J Arts Limited 64,519 48,217

13. ULTIMATE CONTROLLING PARTY

During the period under review the company was under the control of the directors, all shareholders of the company.