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REGISTERED NUMBER: 01161375 (England and Wales)



















Financial Statements

for the Year Ended 31 March 2024

for

Nottingham Industrial Cleaners Limited

Nottingham Industrial Cleaners Limited (Registered number: 01161375)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Nottingham Industrial Cleaners Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A Barge
S A Barge
N P Hunt





REGISTERED OFFICE: Elizabeth House
Wigman Road
Bilborough
Nottingham
NG8 3HY





REGISTERED NUMBER: 01161375 (England and Wales)





AUDITORS: Bates Weston Audit Ltd
Statutory Auditors
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Nottingham Industrial Cleaners Limited (Registered number: 01161375)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 860,107 875,044

CURRENT ASSETS
Stocks 750 750
Debtors 5 1,586,270 1,315,714
Cash at bank and in hand 1,025 882
1,588,045 1,317,346
CREDITORS
Amounts falling due within one year 6 1,367,747 1,217,290
NET CURRENT ASSETS 220,298 100,056
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,080,405

975,100

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 1,075,405 970,100
SHAREHOLDERS' FUNDS 1,080,405 975,100

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by:





A Barge - Director


Nottingham Industrial Cleaners Limited (Registered number: 01161375)

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

1. STATUTORY INFORMATION

Nottingham Industrial Cleaners Limited 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.

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 net invoiced sales of goods and services, excluding value added tax. Turnover is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the company will receive the agreed upon payment. Turnover relating to the provision of services is accounted for in the year in which the services are provided. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment loss. 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 provided at the following annual rates in order to write off each asset over its estimated useful life:

Long leasehold- 2% on cost
Plant and equipment- 20% reducing balance
Fixtures and fittings- 20% reducing balance
Motor vehicles- 25% on cost

Freehold land is not depreciated.

The assets' residual values, useful lives and the 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 within 'administrative expenses' in the profit and loss account.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is based on purchase invoice price on a first in first out basis.

Net realisable value is based on the estimated selling price less further costs expected to be incurred to completion and disposal.

At each reporting date, stock is assessed for impairment. If impaired, the carrying amount is reduced and the impairment loss is recognised immediately in the profit and loss account.


Nottingham Industrial Cleaners Limited (Registered number: 01161375)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax arises from timing differences between taxable total profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

A deferred tax asset is recognised only when it is more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences and losses can be deducted.

Provision is made at current rates for taxation deferred in respect of all material timing differences.

Pension costs and other post-retirement benefits
The company operates defined contribution plans for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as an expense when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Related parties
The company is a wholly owned subsidiary undertaking of NIC Group Limited. The company has taken advantage of the exemption contained within Section 1A "Small Entities" of Financial Reporting Standard 102 and has therefore not disclosed transactions with entities which form part of the group, other than as normally disclosed in the notes to the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 657 (2023 - 650 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold equipment fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 961,449 265,877 29,391 515,770 1,772,487
Additions - - 16,250 120,135 136,385
Disposals - - - (159,480 ) (159,480 )
At 31 March 2024 961,449 265,877 45,641 476,425 1,749,392
DEPRECIATION
At 1 April 2023 327,180 247,144 26,199 296,920 897,443
Charge for year 14,129 813 832 108,318 124,092
Eliminated on disposal - - - (132,250 ) (132,250 )
At 31 March 2024 341,309 247,957 27,031 272,988 889,285
NET BOOK VALUE
At 31 March 2024 620,140 17,920 18,610 203,437 860,107
At 31 March 2023 634,269 18,733 3,192 218,850 875,044

Included in the cost of long leasehold property is land of £255,023 (2023: £255,023) which is not depreciated.

Nottingham Industrial Cleaners Limited (Registered number: 01161375)

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

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 1,369,530 1,111,710
Amounts owed by group undertakings 168,641 158,673
Directors' current accounts 4,781 4,781
Tax 1,518 5,122
Prepayments 12,900 5,800
1,557,370 1,286,086

Amounts falling due after more than one year:
Deferred tax asset 28,900 29,628

Aggregate amounts 1,586,270 1,315,714

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 257,066 227,618
Trade creditors 73,260 44,959
Amounts owed to group undertakings 11,116 11,116
Tax 36,000 32,000
Social security and other taxes 471,974 399,944
Other creditors 72,889 72,270
Directors' current accounts 10,297 4,255
Accrued expenses 435,145 425,128
1,367,747 1,217,290

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 257,066 227,618

Bank overdrafts are secured by way of a debenture, with fixed and floating charges over certain fixed assets held by the company.

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Neal FCA CTA (Senior Statutory Auditor)
for and on behalf of Bates Weston Audit Ltd

9. OTHER FINANCIAL COMMITMENTS

The company has a contingent liability in respect of a composite guarantee given to National Westminster Bank Plc to secure borrowings within the NIC Group Ltd group of companies. At the balance sheet date, the net amount of the group liability was £Nil (2023: £Nil).

Nottingham Industrial Cleaners Limited (Registered number: 01161375)

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

10. ULTIMATE PARENT COMPANY

The company's ultimate parent undertaking is NIC Group Limited, Elizabeth House, Wigman Road, Bilborough, Nottingham, NG8 3HY. Copies of the consolidated financial statements of NIC Group Limited are available from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.