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Company Registration No. 10830908 (England and Wales)
Nicholson Heating Services Ltd Unaudited accounts for the year ended 30 June 2024
Nicholson Heating Services Ltd Company Information for the year ended 30 June 2024
Directors
Ian Nicholson John Nicholson Nicola Nicholson
Company Number
10830908 (England and Wales)
Registered Office
39 Clearwell Place Bedlington NE22 6BN United Kingdom
Accountants
Accounting Inc. Ltd Hoults Yard Walker Rd Newcastle upon Tyne Tyne and Wear NE6 2HL
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Nicholson Heating Services Ltd Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
206,062 
277,709 
Current assets
Inventories
75,000 
75,000 
Debtors
39,243 
15,044 
Cash at bank and in hand
35,148 
27,446 
149,391 
117,490 
Creditors: amounts falling due within one year
(226,497)
(229,820)
Net current liabilities
(77,106)
(112,330)
Total assets less current liabilities
128,956 
165,379 
Creditors: amounts falling due after more than one year
(85,968)
(125,938)
Provisions for liabilities
Deferred tax
(35,031)
(52,765)
Net assets/(liabilities)
7,957 
(13,324)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
7,857 
(13,424)
Shareholders' funds
7,957 
(13,324)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2024 and were signed on its behalf by
Ian Nicholson Director Company Registration No. 10830908
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Nicholson Heating Services Ltd Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Nicholson Heating Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 10830908. The registered office is 39 Clearwell Place, Bedlington, NE22 6BN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance
Motor vehicles
20% Reducing balance
Fixtures & fittings
15% Reducing balance
Computer equipment
20% Straight line
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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Nicholson Heating Services Ltd Notes to the Accounts for the year ended 30 June 2024
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 July 2023
726 
364,831 
19,140 
11,305 
396,002 
Additions
- 
47,102 
- 
- 
47,102 
Disposals
- 
(72,360)
- 
- 
(72,360)
At 30 June 2024
726 
339,573 
19,140 
11,305 
370,744 
Depreciation
At 1 July 2023
301 
104,549 
5,861 
7,582 
118,293 
Charge for the year
85 
42,766 
1,992 
1,546 
46,389 
At 30 June 2024
386 
147,315 
7,853 
9,128 
164,682 
Net book value
At 30 June 2024
340 
192,258 
11,287 
2,177 
206,062 
At 30 June 2023
425 
260,282 
13,279 
3,723 
277,709 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
13,243 
15,044 
Accrued income and prepayments
26,000 
- 
39,243 
15,044 
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Nicholson Heating Services Ltd Notes to the Accounts for the year ended 30 June 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
35,000 
10,000 
VAT
33,364 
25,506 
Obligations under finance leases and hire purchase contracts
50,983 
54,868 
Trade creditors
62,680 
55,534 
Taxes and social security
34,732 
6,866 
Loans from directors
8,358 
75,666 
Accruals
1,380 
1,380 
226,497 
229,820 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
19,399 
20,000 
Obligations under finance leases and hire purchase contracts
66,166 
105,559 
Other creditors
403 
379 
85,968 
125,938 
8
Average number of employees
During the year the average number of employees was 16 (2023: 16).
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