01 September 2023 31 August 2024 No principle activity is included 08644681 2023-09-01 08644681 2024-08-31 08644681 2023-09-01 2024-08-31 08644681 2023-08-31 08644681 2022-09-01 2023-08-31 08644681 uk-core:WithinOneYear 2024-08-31 08644681 uk-core:WithinOneYear 2023-08-31 08644681 uk-core:ShareCapital 2024-08-31 08644681 uk-core:ShareCapital 2023-08-31 08644681 uk-core:RetainedEarningsAccumulatedLosses 2024-08-31 08644681 uk-core:RetainedEarningsAccumulatedLosses 2023-08-31 08644681 uk-bus:RegisteredOffice 2023-09-01 2024-08-31 08644681 uk-curr:PoundSterling 2023-09-01 2024-08-31 08644681 uk-bus:FRS102 2023-09-01 2024-08-31 08644681 uk-bus:FullAccounts 2023-09-01 2024-08-31 08644681 uk-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 08644681 uk-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  NICHOLAS LOFTS LIMITED
   
   
   
  UNAUDITED ABRIDGED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 31 AUGUST 2024
   
   
   
   
   
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
  NICHOLAS LOFTS LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 AUGUST 2024
       
       
  DIRECTOR
       
  J Nicholas
       
       
  REGISTERED OFFICE
       
  235 The Ridgeway
Enfield
Middlesex
EN2 8AD
       
       
  COMPANY REGISTERED NUMBER
       
  08644681
       
       
  ACCOUNTANTS
       
  P B Genender & Co
  Chartered Certified Accountants
  Highridge House
235 The Ridgeway
Enfield
Middlesex EN2 8AD
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
   
  Page 1
   
  NICHOLAS LOFTS LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 AUGUST 2024
       
       
       
       
       
       
       
       
  CONTENTS
       
  Pages
       
  3 Abridged Statement of Financial Position  
       
  4-5 Notes to the Financial Statements  
       
     
   
  Page 2
   
  NICHOLAS LOFTS LIMITED
  Company Registered Number: 08644681
  ABRIDGED STATEMENT OF FINANCIAL POSITION AT 31 August 2024
           
    Note 2024 2023
      £ £ £
  CURRENT ASSETS
  Inventories   41,100 22,350
  Debtors   30,366 1,873
  Cash at bank   136,336 158,370
      207,802 182,593
  CREDITORS: Amounts falling due within one year 3 80,529 95,842
  NET CURRENT ASSETS   127,273 86,751
  NET ASSETS   £127,273 £86,751
       
  CAPITAL AND RESERVES
  Called up Share Capital   1 1
  Retained Earnings   127,272 86,750
  SHAREHOLDERS' FUNDS   £127,273 £86,751
       
       
       
  In approving these financial statements as director of the company I hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements, so far as they are applicable to the company.
 
 
       
  These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies
       
  All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 August 2024 in accordance with Section 444 (2A) of the Companies Act 2006
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered
  The financial statements were approved and authorised for issue by the board of directors on 03 March 2025
 
  Signed on behalf of the board of directors
 
 
       
  J Nicholas, Director
       
       
   
  Page 3
   
  NICHOLAS LOFTS LIMITED
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 31 AUGUST 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of Compliance
         
  Nicholas Lofts Limited is a Limited Company incorporated in England and Wales.
         
  Registered office: Trading Address    
  235 The Ridgeway
Enfield
Middlesex
EN2 8AD
  These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 September 2023.
         
         
         
  Basis of accounting
         
  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" and the Companies Act 2006.
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue Recognition
         
  Income is recognised when goods and services have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Taxation
         
         
  Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
         
1e. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
         
1f. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1g. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
   
  Page 4
   
  NICHOLAS LOFTS LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 AUGUST 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1h. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
         
1i. Provisions
         
  Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
         
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2024 2023
    No. No.
  Management and administration 3 2
   
       
       
3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2024 2023
    £ £
  Trade Creditors 35,038 39,385
  Corporation Tax 9,600 15,000
  Other Taxes and Social Security 18,572 23,771
  Other Creditors 12,714 7,138
  Accruals and deferred income 4,605 10,548
    £80,529 £95,842
   
   
  Page 5