2023-02-012024-01-312024-01-31false12545902NICHOL HOLDINGS 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NICHOL HOLDINGS LIMITED

Registered Number
12545902
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

NICHOL HOLDINGS LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

NICHOL, John

Registered Address

Willowholme Industrial Estate
Willow Holme Road
Carlisle
CA2 5RT

Registered Number

12545902 (England and Wales)
NICHOL HOLDINGS LIMITED
Statement of Financial Position
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property3180,702180,702
180,702180,702
Current assets
Debtors415,00015,000
Cash at bank and on hand67,18845,032
82,18860,032
Creditors amounts falling due within one year5(188,102)(188,718)
Net current assets (liabilities)(105,914)(128,686)
Total assets less current liabilities74,78852,016
Net assets74,78852,016
Capital and reserves
Called up share capital1,0001,000
Profit and loss account73,78851,016
Shareholders' funds74,78852,016
The financial statements were approved and authorised for issue by the Director on 4 July 2024, and are signed on its behalf by:
NICHOL, John
Director
Registered Company No. 12545902
NICHOL HOLDINGS LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.
Finance leases and hire purchase contracts
Rental income from operating leases is credited to the Income Statement on a straight line basis over the lease term.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company 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.
2.Average number of employees

20242023
Average number of employees during the year11
3.Investment property
On 2 July 2021 the director valued the investment property on an open market basis for existing use. It is the opinion of the director that this valuation has not materially altered at the period end date. Had the investment property been measured at historical cost the amount would have been £180,702.

£
Fair value at 01 February 23180,702
At 31 January 24180,702
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables15,00015,000
Total15,00015,000
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security5,3426,108
Other creditors180,702180,702
Accrued liabilities and deferred income2,0581,908
Total188,102188,718