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REGISTERED NUMBER: 13828281 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

G G NICHOLSON LTD

G G NICHOLSON LTD (REGISTERED NUMBER: 13828281)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


G G NICHOLSON LTD

Company Information
for the Year Ended 31 January 2024







DIRECTOR: G G Nicholson





REGISTERED OFFICE: Unit A6
Chaucer Business Park
Dittons Road
Polegate
East Sussex
BN26 6QH





REGISTERED NUMBER: 13828281 (England and Wales)





ACCOUNTANTS: MDJ Services Limited
Unit A6
Chaucer Business Park
Dittons Road
Polegate
East Sussex
BN26 6QH

G G NICHOLSON LTD (REGISTERED NUMBER: 13828281)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 316,054 316,054

CURRENT ASSETS
Cash at bank 2,352 1,692

CREDITORS
Amounts falling due within one year 5 330,857 333,361
NET CURRENT LIABILITIES (328,505 ) (331,669 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(12,451

)

(15,615

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (12,452 ) (15,616 )
SHAREHOLDERS' FUNDS (12,451 ) (15,615 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 October 2024 and were signed by:





G G Nicholson - Director


G G NICHOLSON LTD (REGISTERED NUMBER: 13828281)

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

1. STATUTORY INFORMATION

G G Nicholson Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents rents and service charges receivable net of VAT.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are those properties that are held either to earn rental income or for capital appreciation or both.

Investment properties are measured initially at cost including transaction costs and thereafter are stated at fair value, which reflects market conditions at the balance sheet date. Surpluses and deficits arising from changes in the fair value of investment properties are recognised in the Statement of Comprehensive Income in the year in which they arise.

Investment properties are stated at fair value as determined by the directors. The fair value of the company's property portfolio is based upon external valuations and is inherently subjective. The fair value represents the amount at which the assets could be exchanged between a knowledgeable, willing buyer and a knowledgeable, willing seller in an arms-length transaction at the date of valuation. The fair value of each of the properties has been assessed by the directors. In determining the fair value of investment properties, the directors make use of historical and current market data as well as existing lease agreements.

Additions and disposals of investment properties are recognised in the accounts when contracts are completed.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


G G NICHOLSON LTD (REGISTERED NUMBER: 13828281)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 316,054
NET BOOK VALUE
At 31 January 2024 316,054
At 31 January 2023 316,054

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors (1 ) -
Other creditors 330,858 333,361
330,857 333,361