0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 260,000 260,000 260,000 5,200 5,200 5,200 xbrli:pure xbrli:shares iso4217:GBP SC291352 2023-04-01 2024-03-31 SC291352 2024-03-31 SC291352 2023-03-31 SC291352 2022-04-01 2023-03-31 SC291352 2023-03-31 SC291352 2022-03-31 SC291352 bus:Director2 2023-04-01 2024-03-31 SC291352 core:WithinOneYear 2024-03-31 SC291352 core:WithinOneYear 2023-03-31 SC291352 core:AfterOneYear 2024-03-31 SC291352 core:AfterOneYear 2023-03-31 SC291352 core:ShareCapital 2024-03-31 SC291352 core:ShareCapital 2023-03-31 SC291352 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC291352 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC291352 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 SC291352 core:Non-currentFinancialInstruments 2024-03-31 SC291352 core:Non-currentFinancialInstruments 2023-03-31 SC291352 core:LandBuildings 2024-03-31 SC291352 core:LandBuildings 2023-03-31 SC291352 bus:Director2 2023-03-31 SC291352 bus:Director2 2022-04-01 2023-03-31 SC291352 bus:SmallEntities 2023-04-01 2024-03-31 SC291352 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC291352 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC291352 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC291352 bus:FullAccounts 2023-04-01 2024-03-31 SC291352 core:Subsidiary1 2023-04-01 2024-03-31 SC291352 core:Subsidiary1 2024-03-31 SC291352 core:Subsidiary1 2023-03-31
COMPANY REGISTRATION NUMBER: SC291352
John McNicol & Co. (Holdings) Limited
Filleted Unaudited Financial Statements
31 March 2024
John McNicol & Co. (Holdings) Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
260,000
260,000
Investments
5
5,200
5,200
---------
---------
265,200
265,200
Current assets
Debtors
6
32,887
Cash at bank and in hand
38,980
29,639
--------
--------
38,980
62,526
Creditors: amounts falling due within one year
7
222,490
198,087
---------
---------
Net current liabilities
183,510
135,561
---------
---------
Total assets less current liabilities
81,690
129,639
Creditors: amounts falling due after more than one year
8
36,250
36,250
--------
---------
Net assets
45,440
93,389
--------
---------
Capital and reserves
Called up share capital
5,100
5,100
Profit and loss account
40,340
88,289
--------
--------
Shareholders funds
45,440
93,389
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
John McNicol & Co. (Holdings) Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 24 November 2024 , and are signed on behalf of the board by:
N.D. McNicol
Director
Company registration number: SC291352
John McNicol & Co. (Holdings) Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 123 Elliot Street, Glasgow, G3 8EY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .
4. Tangible assets
Land and buildings
£
Cost
At 1 April 2023 and 31 March 2024
260,000
---------
Depreciation
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
260,000
---------
At 31 March 2023
260,000
---------
5. Investments
Shares in group undertakings
£
Cost
At 1 April 2023 and 31 March 2024
5,200
-------
Impairment
At 1 April 2023 and 31 March 2024
-------
Carrying amount
At 31 March 2024
5,200
-------
At 31 March 2023
5,200
-------
The company owns 100% of the issued share capital of the companies listed below,
2023 2022
£ £
Aggregate capital and reserves
John McNicol & Co (EE) Limited 240,961 144,657
Profit and (loss) for the year
John McNicol & Co (EE) Limited 96,304 38,740
Under the provision of section 248 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
6. Debtors
2024
2023
£
£
Other debtors
32,887
----
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
145,641
112,939
Corporation tax
8,299
Other creditors
76,849
76,849
---------
---------
222,490
198,087
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
36,250
36,250
--------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
N.D. McNicol
----
----
----
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
N.D. McNicol
24,588
24,588
----
--------
--------
10. Related party transactions
Control:- In the directors' opinion no one party had ultimate control of the company at the balance sheet date. Transactions:- The balance due to John McNicol & Co (Electrical Engineers) Limited , a subsidiary company, at 31 March 2024 amounted to £ 145,640 (2023: £ 112,939 ).