Company registration number 11098317 (England and Wales)
NICK ALLEN HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
NICK ALLEN HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
NICK ALLEN HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,010,547
1,015,435
Investments
4
288,732
288,732
1,299,279
1,304,167
Current assets
Debtors
6
4,630
-
0
Cash at bank and in hand
205,348
15,031
209,978
15,031
Creditors: amounts falling due within one year
7
(958,788)
(769,797)
Net current liabilities
(748,810)
(754,766)
Total assets less current liabilities
550,469
549,401
Creditors: amounts falling due after more than one year
8
(496,750)
(529,750)
Net assets
53,719
19,651
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
10
53,619
19,551
Total equity
53,719
19,651
NICK ALLEN HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -

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

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 12 September 2024 and are signed on its behalf by:
N G Allen
Director
Company registration number 11098317 (England and Wales)
NICK ALLEN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Nick Allen Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Witney Road, Long Hanborough, Witney, Oxfordshire, OX29 8BJ.

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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. 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
Going concern

The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. At 31 December 2023 its current liabilities exceeded its current assets by £753,440. If the company was unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values to their recoverable amount and to provide for future liabilities that may arise and to reclassify fixed assets as current assets.true

 

As current liabilities include £509,173 due to its subsidiary undertaking, Sportif Oxford Limited, and £412,474 due to the director, the director believes that it is appropriate for the financial statements to be prepared on a going concern basis as the subsidiary and director have confirmed they will not require repayment within 12 months of the date of signing these accounts.

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 land and buildings
Land not depreciated. Buildings 50 year straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries 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.

NICK ALLEN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -

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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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 balance sheet 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.

Basic financial assets

Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

NICK ALLEN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2022 - 1).

3
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2023 and 31 December 2023
1,018,286
Depreciation and impairment
At 1 January 2023
2,851
Depreciation charged in the year
4,888
At 31 December 2023
7,739
Carrying amount
At 31 December 2023
1,010,547
At 31 December 2022
1,015,435
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
288,732
288,732
5
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
Indirect
Sportif Oxford Limited
1
Ordinary
100.00
-

Registered office addresses (all UK unless otherwise indicated):

1
Witney Road, Long Hanborough, Witney, Oxfordshire, OX29 8BJ
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
4,630
-
0
NICK ALLEN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
33,000
33,000
Amounts owed to group undertakings
509,173
311,964
Corporation tax
-
0
4,630
Other taxation and social security
4,141
4,500
Other creditors
412,474
415,703
958,788
769,797

Bank loans are secured by fixed charges over certain property and assets of the group.

Included in other creditors is £412,474 (2022 - £415,702) due to the director.

8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
496,750
529,750

Bank loans are secured by fixed charges over certain property and assets of the group.

9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
10
Profit and loss reserves

Profit and loss reserves includes all current period profits, net of dividends paid.

11
Ultimate controlling party

The ultimate controlling party is N G Allen by virtue of his directorship and shareholding.

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