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COMPANY REGISTRATION NUMBER: 01893062
Nico (Consultants) Limited
Filleted Unaudited Financial Statements
For the year ended
30 April 2024
Nico (Consultants) Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
2,655
3,476
Current assets
Stocks
263
126
Debtors
6
8,460
7,100
Cash at bank and in hand
2,505
3,911
--------
--------
11,228
11,137
Creditors: amounts falling due within one year
7
4,902
4,161
--------
--------
Net current assets
6,326
6,976
-------
--------
Total assets less current liabilities
8,981
10,452
Creditors: amounts falling due after more than one year
8
6,576
7,829
-------
--------
Net assets
2,405
2,623
-------
--------
Capital and reserves
Called up share capital
3
3
Profit and loss account
2,402
2,620
-------
-------
Shareholders funds
2,405
2,623
-------
-------
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 statement of income and retained earnings has not been delivered.
For the year ending 30 April 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 .
Nico (Consultants) Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 23 January 2025 , and are signed on behalf of the board by:
T P Nicholls
Director
Company registration number: 01893062
Nico (Consultants) Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 17 Allison Street, Featherstone, Pontefract, West Yorkshire, WF7 5BL.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it, and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts. Revenue is recognised upon completion of work when the amount of revenue and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
(d) Current tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
15% reducing balance
Fixtures & Fittings
-
20% reducing balance
Motor Vehicles
-
25% reducing balance
(g) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(h) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
(i) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023 and 30 April 2024
2,826
5,288
11,681
19,795
-------
-------
--------
--------
Depreciation
At 1 May 2023
2,488
5,246
8,585
16,319
Charge for the year
42
5
774
821
-------
-------
--------
--------
At 30 April 2024
2,530
5,251
9,359
17,140
-------
-------
--------
--------
Carrying amount
At 30 April 2024
296
37
2,322
2,655
-------
-------
--------
--------
At 30 April 2023
338
42
3,096
3,476
-------
-------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
8,460
7,100
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,350
1,400
Trade creditors
909
Accruals
1,062
1,020
Corporation tax
952
1,741
Social security and other taxes
629
-------
-------
4,902
4,161
-------
-------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
6,576
7,829
-------
-------
9. Director's advances, credits and guarantees
During the year the director made a loan available to the company. The loan was interest free. At the year end date the balance due to the director totalled £0 (2023: £0).