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REGISTERED NUMBER: 04475088 (England and Wales)









Report of the Director and

Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Nichols & Co (Accountancy) Limited

Nichols & Co (Accountancy) Limited (Registered number: 04475088)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 5


Nichols & Co (Accountancy) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr S Nichols





SECRETARY: Mrs LM Nichols





REGISTERED OFFICE: Unit 7
Mulberry Place
Pinnell Road
Eltham
London
SE9 6AR





REGISTERED NUMBER: 04475088 (England and Wales)





ACCOUNTANTS: Nichols & Co ( Accountancy ) Limited
Chartered Accountants
Unit 7
Mulberry Place
Pinnell Road
Eltham
London
SE9 6AR

Nichols & Co (Accountancy) Limited (Registered number: 04475088)

Report of the Director
for the Year Ended 31 December 2023

The director presents his report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the provision of accountancy, audit and taxation services.

DIRECTOR
Mr S Nichols held office during the whole of the period from 1 January 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr S Nichols - Director


13 September 2024

Nichols & Co (Accountancy) Limited (Registered number: 04475088)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 17,364 25,512
17,364 25,512

CURRENT ASSETS
Stocks 107,426 95,533
Debtors 6 317,459 215,266
Cash at bank 289,469 499,472
714,354 810,271
CREDITORS
Amounts falling due within one year 7 (337,338 ) (372,330 )
NET CURRENT ASSETS 377,016 437,941
TOTAL ASSETS LESS CURRENT
LIABILITIES

394,380

463,453

CREDITORS
Amounts falling due after more than one
year

8

(79,167

)

(129,167

)

PROVISIONS FOR LIABILITIES (3,716 ) -
NET ASSETS 311,497 334,286

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 311,397 334,186
SHAREHOLDERS' FUNDS 311,497 334,286

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Nichols & Co (Accountancy) Limited (Registered number: 04475088)

Balance Sheet - continued
31 December 2023


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 director and authorised for issue on 13 September 2024 and were signed by:





Mr S Nichols - Director


Nichols & Co (Accountancy) Limited (Registered number: 04475088)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Nichols & Co (Accountancy) 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.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of business in 2003 and a new business acquired in 2013, is being amortised evenly over its estimated useful life of 5 years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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% on reducing balance
Computer equipment - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Nichols & Co (Accountancy) Limited (Registered number: 04475088)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

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 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 January 2023
and 31 December 2023 447,000
AMORTISATION
At 1 January 2023
and 31 December 2023 447,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 1 January 2023 17,488 13,485 96,023 126,996
Additions - - 532 532
At 31 December 2023 17,488 13,485 96,555 127,528
DEPRECIATION
At 1 January 2023 13,187 11,949 76,348 101,484
Charge for year 1,433 512 6,735 8,680
At 31 December 2023 14,620 12,461 83,083 110,164
NET BOOK VALUE
At 31 December 2023 2,868 1,024 13,472 17,364
At 31 December 2022 4,301 1,536 19,675 25,512

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Trade debtors 292,751 207,728
Other debtors 24,708 7,538
317,459 215,266

Nichols & Co (Accountancy) Limited (Registered number: 04475088)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Payments on account 44,053 43,071
Trade creditors 24,426 23,955
Taxation and social security 213,048 240,336
Other creditors 55,811 64,968
337,338 372,330

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£ £
Other creditors 79,167 129,167

9. ULTIMATE CONTROLLING PARTY

Mr S Nichols controls the company by virtue of his shareholdings.