Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3122false2023-01-01falseNo description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00153588 2023-01-01 2023-12-31 00153588 2022-01-01 2022-12-31 00153588 2023-12-31 00153588 2022-12-31 00153588 c:Director1 2023-01-01 2023-12-31 00153588 d:Buildings 2023-12-31 00153588 d:Buildings 2022-12-31 00153588 d:LandBuildings 2023-12-31 00153588 d:LandBuildings 2022-12-31 00153588 d:OfficeEquipment 2023-01-01 2023-12-31 00153588 d:OtherPropertyPlantEquipment 2023-12-31 00153588 d:OtherPropertyPlantEquipment 2022-12-31 00153588 d:CurrentFinancialInstruments 2023-12-31 00153588 d:CurrentFinancialInstruments 2022-12-31 00153588 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00153588 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00153588 d:UKTax 2023-01-01 2023-12-31 00153588 d:UKTax 2022-01-01 2022-12-31 00153588 d:ShareCapital 2023-12-31 00153588 d:ShareCapital 2022-12-31 00153588 d:RevaluationReserve 2023-12-31 00153588 d:RevaluationReserve 2022-12-31 00153588 d:RetainedEarningsAccumulatedLosses 2023-12-31 00153588 d:RetainedEarningsAccumulatedLosses 2022-12-31 00153588 c:FRS102 2023-01-01 2023-12-31 00153588 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00153588 c:FullAccounts 2023-01-01 2023-12-31 00153588 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00153588 d:OtherDeferredTax 2023-12-31 00153588 d:OtherDeferredTax 2022-12-31 00153588 2 2023-01-01 2023-12-31 00153588 5 2023-01-01 2023-12-31 00153588 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 00153588








WM.NICHOLES & SON LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED  31 DECEMBER 2023

 
WM.NICHOLES & SON LIMITED
REGISTERED NUMBER: 00153588

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,019,101
1,019,101

  
1,019,101
1,019,101

Current assets
  

Debtors: amounts falling due within one year
 6 
377
351

Cash at bank and in hand
  
255,191
208,997

  
255,568
209,348

Creditors: amounts falling due within one year
 7 
(13,230)
(12,736)

Net current assets
  
 
 
242,338
 
 
196,612

Total assets less current liabilities
  
1,261,439
1,215,713

Provisions for liabilities
  

Deferred tax
 8 
(155,434)
(155,434)

  
 
 
(155,434)
 
 
(155,434)

Net assets
  
1,106,005
1,060,279


Capital and reserves
  

Called up share capital 
  
6,000
6,000

Revaluation reserve
  
466,302
466,302

Profit and loss account
  
633,703
587,977

  
1,106,005
1,060,279


The directors consider 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 year in question in accordance with section 476 of the Companies Act 2006.

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.


 
Page 1

 
WM.NICHOLES & SON LIMITED
REGISTERED NUMBER: 00153588
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements have been prepared 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 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 18 September 2024.




S J Nicholes
Director

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

Page 2

 
WM.NICHOLES & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

WM.Nicholes & Son Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 12 Chambers Lane, Willesden Green, London, NW10 2RJ.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue comprises net rental income invoiced by the company.

 
2.3

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings as received.

 
2.4

Current and deferred taxation

The tax expense for the year 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.

Page 3

 
WM.NICHOLES & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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, using the straight-line method.

Depreciation is provided on the following basis:

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.

 
2.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.8

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.9

Creditors

Short term creditors are measured at the transaction price. 

Page 4

 
WM.NICHOLES & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
11,220
10,816


11,220
10,816


Total current tax
11,220
10,816

Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of 19% and 25% from 1st April 2023 (2022 - 19%).


Page 5

 
WM.NICHOLES & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
4.Taxation (continued)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


5.


Fixed Assets





Land and buildings
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 January 2023
1,019,101
639
1,019,740



At 31 December 2023

1,019,101
639
1,019,740



Depreciation


At 1 January 2023
-
639
639



At 31 December 2023

-
639
639



Net book value



At 31 December 2023
1,019,101
-
1,019,101



At 31 December 2022
1,019,101
-
1,019,101




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
1,019,101
1,019,101

1,019,101
1,019,101


In the opinion of the directors the market value of the investment property has not changed significantly since the date of the last valuation.

Page 6

 
WM.NICHOLES & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Prepayments
377
351

377
351



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
11,220
10,816

Accruals
2,010
1,920

13,230
12,736



8.


Deferred taxation




2023


£






At beginning of year
(155,434)



At end of year
(155,434)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


On property revaluation
(155,434)
(155,434)

(155,434)
(155,434)


9.


Controlling party

The two directors S J Nicholes and C M E Nicholes (The Nicholes Family) control the company by virtue of owning the majority of the issued share capital.

 
Page 7