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Registration number: 13477441

The Nick (Staffordshire) Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024

 

The Nick (Staffordshire) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

The Nick (Staffordshire) Limited

(Registration number: 13477441)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,572

6,123

Current assets

 

Stocks

1,350

1,350

Debtors

5

210

450

Cash at bank and in hand

 

455

573

 

2,015

2,373

Creditors: Amounts falling due within one year

6

(99,539)

(67,910)

Net current liabilities

 

(97,524)

(65,537)

Net liabilities

 

(93,952)

(59,414)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(94,052)

(59,514)

Shareholders' deficit

 

(93,952)

(59,414)

For the financial year ending 30 June 2024 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 year 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 November 2024 and signed on its behalf by:
 

.........................................
Mr Stephen Paul Beaumont
Director

 

The Nick (Staffordshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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:
Drayton Beaumont Building
Merrial Street
Newcastle-Under-Lyme
Staffordshire
ST5 2AE
UK

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the directors. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

 

The Nick (Staffordshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Gym equipment

25% reducing balance

Computer equipment

25% straight line

Fixtures and fittings

25% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

The Nick (Staffordshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

8,137

3,657

11,794

At 30 June 2024

8,137

3,657

11,794

Depreciation

At 1 July 2023

4,070

1,601

5,671

Charge for the year

2,036

515

2,551

At 30 June 2024

6,106

2,116

8,222

Carrying amount

At 30 June 2024

2,031

1,541

3,572

At 30 June 2023

4,067

2,056

6,123

5

Debtors

Current

2024
£

2023
£

Trade debtors

110

350

Other debtors

100

100

 

210

450

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

87,239

60,470

Accruals and deferred income

600

1,440

Other creditors

11,700

6,000

99,539

67,910