IRIS Accounts Production v24.2.0.383 05736035 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057360352023-03-31057360352024-03-31057360352023-04-012024-03-31057360352022-03-31057360352022-04-012023-03-31057360352023-03-3105736035ns15:EnglandWales2023-04-012024-03-3105736035ns14:PoundSterling2023-04-012024-03-3105736035ns10:Director12023-04-012024-03-3105736035ns10:Director22023-04-012024-03-3105736035ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3105736035ns10:SmallEntities2023-04-012024-03-3105736035ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3105736035ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3105736035ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3105736035ns10:FullAccounts2023-04-012024-03-3105736035ns10:CompanySecretary12023-04-012024-03-3105736035ns10:RegisteredOffice2023-04-012024-03-3105736035ns5:CurrentFinancialInstruments2024-03-3105736035ns5:CurrentFinancialInstruments2023-03-3105736035ns5:Non-currentFinancialInstruments2024-03-3105736035ns5:Non-currentFinancialInstruments2023-03-3105736035ns5:ShareCapital2024-03-3105736035ns5:ShareCapital2023-03-3105736035ns5:RetainedEarningsAccumulatedLosses2024-03-3105736035ns5:RetainedEarningsAccumulatedLosses2023-03-3105736035ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-04-012024-03-3105736035ns5:LeaseholdImprovements2023-04-012024-03-3105736035ns5:PlantMachinery2023-04-012024-03-3105736035ns5:MotorVehicles2023-04-012024-03-3105736035ns5:ComputerEquipment2023-04-012024-03-3105736035ns5:LandBuildings2023-03-3105736035ns5:LeaseholdImprovements2023-03-3105736035ns5:PlantMachinery2023-03-3105736035ns5:LandBuildings2023-04-012024-03-3105736035ns5:LandBuildings2024-03-3105736035ns5:LeaseholdImprovements2024-03-3105736035ns5:PlantMachinery2024-03-3105736035ns5:LandBuildings2023-03-3105736035ns5:LeaseholdImprovements2023-03-3105736035ns5:PlantMachinery2023-03-3105736035ns5:MotorVehicles2023-03-3105736035ns5:ComputerEquipment2023-03-3105736035ns5:MotorVehicles2024-03-3105736035ns5:ComputerEquipment2024-03-3105736035ns5:MotorVehicles2023-03-3105736035ns5:ComputerEquipment2023-03-3105736035ns5:CostValuation2023-03-3105736035ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3105736035ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: 05736035 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

G T Nicholson & Son Limited

G T Nicholson & Son Limited (Registered number: 05736035)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G T Nicholson & Son Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr G T Nicholson
Mr E Nicholson





SECRETARY: Mrs C A Nicholson





REGISTERED OFFICE: Briscoe Farm
Hutton Mulgrave
Whitby
North Yorkshire
YO21 3SF





REGISTERED NUMBER: 05736035 (England and Wales)





ACCOUNTANTS: Philip Burley & Co
Chartered Accountants
28 Bagdale
Whitby
YO21 1QL

G T Nicholson & Son Limited (Registered number: 05736035)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,898,573 1,428,444
Investments 5 123,495 123,495
2,022,068 1,551,939

CURRENT ASSETS
Stocks 273,901 302,596
Debtors 6 1,235,581 846,286
Cash at bank 16,920 198,662
1,526,402 1,347,544
CREDITORS
Amounts falling due within one year 7 970,133 779,115
NET CURRENT ASSETS 556,269 568,429
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,578,337

2,120,368

CREDITORS
Amounts falling due after more than one
year

8

(609,690

)

(145,228

)

PROVISIONS FOR LIABILITIES (83,459 ) (83,592 )
NET ASSETS 1,885,188 1,891,548

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 1,885,185 1,891,545
SHAREHOLDERS' FUNDS 1,885,188 1,891,548

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.

G T Nicholson & Son Limited (Registered number: 05736035)

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 23 September 2024 and were signed on its behalf by:




Mr G T Nicholson - Director



Mr E Nicholson - Director


G T Nicholson & Son Limited (Registered number: 05736035)

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

1. STATUTORY INFORMATION

G T Nicholson & Son 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 25% on reducing balance
Tenants improvements - 25% on reducing balance
Plant and machinery - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Tractors - 20% on reducing balance

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.

G T Nicholson & Son Limited (Registered number: 05736035)

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 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Freehold Tenants Plant and
property improvements machinery
£    £    £   
COST
At 1 April 2023 749,010 239,475 690,797
Additions 591,594 69,789 14,237
Disposals (177,306 ) - (35,455 )
At 31 March 2024 1,163,298 309,264 669,579
DEPRECIATION
At 1 April 2023 - - 365,997
Charge for year - - 32,169
Eliminated on disposal - - (18,061 )
At 31 March 2024 - - 380,105
NET BOOK VALUE
At 31 March 2024 1,163,298 309,264 289,474
At 31 March 2023 749,010 239,475 324,800

Motor
vehicles Tractors Totals
£    £    £   
COST
At 1 April 2023 22,896 333,106 2,035,284
Additions - 57,000 732,620
Disposals - (36,132 ) (248,893 )
At 31 March 2024 22,896 353,974 2,519,011
DEPRECIATION
At 1 April 2023 21,427 219,416 606,840
Charge for year 294 33,841 66,304
Eliminated on disposal - (34,645 ) (52,706 )
At 31 March 2024 21,721 218,612 620,438
NET BOOK VALUE
At 31 March 2024 1,175 135,362 1,898,573
At 31 March 2023 1,469 113,690 1,428,444

G T Nicholson & Son Limited (Registered number: 05736035)

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

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 123,495
NET BOOK VALUE
At 31 March 2024 123,495
At 31 March 2023 123,495

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,176,000 833,225
Other debtors 59,581 13,061
1,235,581 846,286

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 19,531 19,500
Hire purchase contracts 41,018 44,016
Trade creditors 266,292 35,715
Taxation and social security 157,758 213,282
Other creditors 485,534 466,602
970,133 779,115

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 590,035 104,811
Hire purchase contracts 19,655 40,417
609,690 145,228

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 501,000 14,711