Registered number
03236351
Jeffrey Nicholas Limited
Filleted Accounts
31 July 2024
Jeffrey Nicholas Limited
Registered number: 03236351
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 310,089 309,000
Current assets
Debtors 5 - 3,108
Cash at bank and in hand 183,183 114,629
183,183 117,737
Creditors: amounts falling due within one year 6 (113,069) (67,577)
Net current assets 70,114 50,160
Total assets less current liabilities 380,203 359,160
Creditors: amounts falling due after more than one year 7 (63,179) (74,263)
Net assets 317,024 284,897
Capital and reserves
Called up share capital 2 2
Capital redemption reserve 9 (42,500) (42,500)
Profit and loss account 359,522 327,395
Shareholders' funds 317,024 284,897
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J A Dean
Director
Approved by the board on 5 March 2025
Jeffrey Nicholas Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 4,375
At 31 July 2024 4,375
Amortisation
At 1 August 2023 4,375
At 31 July 2024 4,375
Net book value
At 31 July 2024 -
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2023 309,000 25,376 334,376
Additions - 1,452 1,452
At 31 July 2024 309,000 26,828 335,828
Depreciation
At 1 August 2023 - 25,376 25,376
Charge for the year - 363 363
At 31 July 2024 - 25,739 25,739
Net book value
At 31 July 2024 309,000 1,089 310,089
At 31 July 2023 309,000 - 309,000
5 Debtors 2024 2023
£ £
Trade debtors - 3,108
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 18,889 18,762
Trade creditors 582 316
Taxation and social security costs 16,219 8,011
Directors loan account 52,039 40,488
Deferred income 24,668 -
Other creditors 672 -
113,069 67,577
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 63,179 74,263
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 82,068 93,025
Bank loans are secured by way of fixed and floating charge over all the assets of the company.
9 Capital redemption reserve 2024 2023
£ £
At 1 August 2023 (42,500) (42,500)
At 31 July 2024 (42,500) (42,500)
10 Related party transactions
During the year the director J Dean loaned the company £52,039 (2023 - £40,488) on an interest free basis. This is included within creditors.

There is no set repayment date.
11 Controlling party
The ultimate controlling party is the director J Dean who holds 100% of the issued share capital of the company.
12 Other information
Jeffrey Nicholas Limited is a private company limited by shares and incorporated in England. Its registered office is:
71 Cross Street
Islington
London
N1 2BB
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