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Nicol & Andrew Holdings Limited

Annual Report and Unaudited Financial Statements
Period from 13 September 2022 to 31 October 2023

Registration number: 14352663

 

Nicol & Andrew Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Nicol & Andrew Holdings Limited

Company Information

Directors

Mr G T M Karlsson

Mr D S Sneddon

Registered office

28 Speed House
Barbican
London
EC2Y 8AT

Accountants

Francis Clark LLP
Chartered Accountants
Ground Floor
90 Victoria Street
Bristol
BS1 6DP

 

Nicol & Andrew Holdings Limited

Balance Sheet

31 October 2023

Note

2023
£

Fixed assets

 

Investments

4

14,635

Capital and reserves

 

Called up share capital

5

14,635

Shareholders' funds

 

14,635

For the financial period ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 October 2024 and signed on its behalf by:
 

.........................................
Mr D S Sneddon
Director

Company Registration Number: 14352663

 

Nicol & Andrew Holdings Limited

Notes to the Unaudited Financial Statements

Period from 13 September 2022 to 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
28 Speed House
Barbican
London
EC2Y 8AT
England

These financial statements were authorised for issue by the Board on 29 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and Companies Act 2006. The disclosure requirements of Section 1A have been applied other than where additional disclosure is required to show a true and fair view.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors consider the prospects of the Group to be strong for the next 12 months with a growing order book and strengthening relationships with key customers. Improvement actions and synergies with the Leviathan Engineering Group further underpin this confidence.

Consequently, the directors are confident that the Group will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concen basis.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Nicol & Andrew Holdings Limited

Notes to the Unaudited Financial Statements

Period from 13 September 2022 to 31 October 2023

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0.

4

Investments

2023
£

Investments in subsidiaries

14,635

Subsidiaries

£

Cost or valuation

Additions

14,635

Carrying amount

At 31 October 2023

14,635

 

Nicol & Andrew Holdings Limited

Notes to the Unaudited Financial Statements

Period from 13 September 2022 to 31 October 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Nicol & Andrew Limited

28 Speed House Barbican
London
England
EC2Y 8AT

England and Wales

Ordinary shares

100%

0%

Nicol & Andrew MSPE Limited

28 Speed House Barbican
London
England
EC2Y 8AT

England and Wales

Ordinary shares

100%

0%

Hempstead & Johnson

28 Speed House Barbican
London
England
EC2Y 8AT

England and Wales

Ordinary shares

100%

0%

The subsidiaries were all acquired on the 24th March 2023.

Subsidiary undertakings

Nicol & Andrew Limited

The principal activity of Nicol & Andrew Limited is repair of marine and other machinery.

Nicol & Andrew MSPE Limited

The principal activity of Nicol & Andrew MSPE Limited is protective coating and refurbishment of equipment exposed to high wear environments .

Hempstead & Johnson

The principal activity of Hempstead & Johnson is precision engineering.

 

Nicol & Andrew Holdings Limited

Notes to the Unaudited Financial Statements

Period from 13 September 2022 to 31 October 2023

5

Share capital

2023

No

£

Ordinary shares of £1 each

14,635

14,635

6

Parent and ultimate parent undertaking

The company's immediate parent is Leviathan Newco 3 Limited, incorporated in England & Wales .

 The ultimate parent is Leviathan Engineering Limited, incorporated in England & Wales.

 

Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is Leviathan Newco 3 Limited, incorporated in England & Wales.

The address of Leviathan Newco 3 Limited is:
28 Speed House, Barbican, London, England, EC2Y 8AT