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Registered number: 8864412
Nicwood Logistics Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Barclay-Stretton Accountants
Members of the Institute of Financial Accountants
Barclay House
35 Borough Road
Burton on Trent
Staffordshire
DE14 2DA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 8864412
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 548,746 386,091
548,746 386,091
CURRENT ASSETS
Debtors 5 1,195,476 1,241,063
Cash at bank and in hand 292,404 774,924
1,487,880 2,015,987
Creditors: Amounts Falling Due Within One Year 6 (659,871 ) (722,714 )
NET CURRENT ASSETS (LIABILITIES) 828,009 1,293,273
TOTAL ASSETS LESS CURRENT LIABILITIES 1,376,755 1,679,364
PROVISIONS FOR LIABILITIES
Provisions For Charges (39,717 ) -
Deferred Taxation (95,926 ) (63,922 )
NET ASSETS 1,241,112 1,615,442
CAPITAL AND RESERVES
Called up share capital 8 4 4
Profit and Loss Account 1,241,108 1,615,438
SHAREHOLDERS' FUNDS 1,241,112 1,615,442
Page 1
Page 2
For the year ending 31 January 2024 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gary Woodward
Director
31/10/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Nicwood Logistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 8864412 . The registered office is Barclay House, 35 Borough Road, Burton on Trent, Staffordshire, DE14 2DA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on the reducing balance basis
Motor Vehicles 25% on the reducing balance basis
Leased vehicles 25% on the reducing balance basis
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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Page 4
2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 5 5
Sales, marketing and distribution 29 39
34 44
4. Tangible Assets
Plant & Machinery Motor Vehicles Leased vehicles Total
£ £ £ £
Cost
As at 1 February 2023 529,031 272,203 78,000 879,234
Additions 272,449 55,075 - 327,524
Disposals (55,813 ) (36,000 ) - (91,813 )
As at 31 January 2024 745,667 291,278 78,000 1,114,945
Depreciation
As at 1 February 2023 280,491 193,152 19,500 493,143
Provided during the period 76,784 24,271 14,625 115,680
Disposals (13,031 ) (29,593 ) - (42,624 )
As at 31 January 2024 344,244 187,830 34,125 566,199
Net Book Value
As at 31 January 2024 401,423 103,448 43,875 548,746
As at 1 February 2023 248,540 79,051 58,500 386,091
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 967,579 1,185,278
Prepayments and accrued income 148,293 41,240
Other debtors 1,900 1,900
Tenants improvements 8,838 8,838
Corporation tax recoverable assets 24,114 -
Net wages 3,204 3,214
...CONTINUED
Page 4
Page 5
Directors' loan accounts 21,300 206
Called up share capital not paid 4 4
Amounts owed by other participating interests 20,244 383
1,195,476 1,241,063
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 115 13,000
Trade creditors 542,381 185,796
Corporation tax - 130,520
Other taxes and social security 17,407 21,164
VAT 12,905 341,953
Other creditors 9,241 7,202
Accruals and deferred income 77,822 23,079
659,871 722,714
7. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 115 13,000
8. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 4 4
Amount of Allotted, Called Up Share Capital 4 4
2024 2023
Allotted, called up and fully paid £ £
4 Ordinary Shares of £ 1.000 each 4 4
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr Adrian Nicholas 206 21,300 206 - 21,300
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2024 2023
£ £
Mr Gary Woodward 100,000 50,000
Mr Adrian Nicholas 100,000 50,000
Page 5
Page 6
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 400,000 200,000
11. Ultimate Controlling Party
The company does not have an ultimate controlling party.
Page 6