Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31true2023-02-01falseNo description of principal activity11falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05371834 2023-02-01 2024-01-31 05371834 2022-02-01 2023-01-31 05371834 2024-01-31 05371834 2023-01-31 05371834 c:Director1 2023-02-01 2024-01-31 05371834 d:FurnitureFittings 2023-02-01 2024-01-31 05371834 d:FurnitureFittings 2024-01-31 05371834 d:FurnitureFittings 2023-01-31 05371834 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 05371834 d:CurrentFinancialInstruments 2024-01-31 05371834 d:CurrentFinancialInstruments 2023-01-31 05371834 d:Non-currentFinancialInstruments 2024-01-31 05371834 d:Non-currentFinancialInstruments 2023-01-31 05371834 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 05371834 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 05371834 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 05371834 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 05371834 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 05371834 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 05371834 d:ShareCapital 2024-01-31 05371834 d:ShareCapital 2023-01-31 05371834 d:RetainedEarningsAccumulatedLosses 2024-01-31 05371834 d:RetainedEarningsAccumulatedLosses 2023-01-31 05371834 c:FRS102 2023-02-01 2024-01-31 05371834 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 05371834 c:FullAccounts 2023-02-01 2024-01-31 05371834 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05371834 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 05371834 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 05371834 d:TaxLossesCarry-forwardsDeferredTax 2024-01-31 05371834 d:TaxLossesCarry-forwardsDeferredTax 2023-01-31 05371834 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 05371834










NICHOLAS HOMES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
NICHOLAS HOMES LIMITED
REGISTERED NUMBER: 05371834

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,454
995

  
1,454
995

Current assets
  

Stocks
  
391,918
57,097

Debtors: amounts falling due within one year
 5 
51,710
15,806

Cash at bank and in hand
 6 
93,356
12

  
536,984
72,915

Creditors: amounts falling due within one year
 7 
(30,323)
(57,602)

Net current assets
  
 
 
506,661
 
 
15,313

Total assets less current liabilities
  
508,115
16,308

Creditors: amounts falling due after more than one year
 8 
(549,811)
(29,080)

  

Net liabilities
  
(41,696)
(12,772)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(41,697)
(12,773)

  
(41,696)
(12,772)


Page 1

 
NICHOLAS HOMES LIMITED
REGISTERED NUMBER: 05371834

BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 October 2024.




N A Golding
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
NICHOLAS HOMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
1.2

Going concern

The company had net liabilities of £41,696 at 31 January 2024. However, the director is of the opinion that the company has and will continue to have the support of its creditors for the foreseeable future. In the light of this factor, the director considers it appropriate to adopt the going concern basis in preparation of these financial statements.

 
1.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
1.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
NICHOLAS HOMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)

 
1.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
1.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
1.8

Stock

Stocks and work in progress are valued by the director at cost.

 
1.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
NICHOLAS HOMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)

 
1.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


2.


General information

Nicholas Homes Limited is a private limited company incorporated in England and Wales. The Registered Office is Kingsridge House, 601 London Road, Westcliff on Sea, Essex, SS0 9PE.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
NICHOLAS HOMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 February 2023
4,047


Additions
708



At 31 January 2024

4,755



Depreciation


At 1 February 2023
3,052


Charge for the year on owned assets
249



At 31 January 2024

3,301



Net book value



At 31 January 2024
1,454



At 31 January 2023
995

Page 6

 
NICHOLAS HOMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Other debtors
4,500
440

Prepayments and accrued income
16,057
-

Deferred taxation
31,153
15,366

51,710
15,806



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
93,356
12

93,356
12



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
2,061
1,250

Other creditors
18,262
46,352

30,323
57,602



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
549,811
29,080

549,811
29,080


Page 7

 
NICHOLAS HOMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000


Amounts falling due 2-5 years

Bank loans
549,811
29,080


549,811
29,080


559,811
39,080


Page 8

 
NICHOLAS HOMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Deferred taxation




2024


£






At beginning of year
15,366


Charged to profit or loss
15,787



At end of year
31,153

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(364)
(189)

Tax losses carried forward
31,517
15,555

31,153
15,366


Page 9