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REGISTERED NUMBER: 03020915 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

N C WILSON LIMITED

N C WILSON LIMITED (REGISTERED NUMBER: 03020915)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


N C WILSON LIMITED (REGISTERED NUMBER: 03020915)

BALANCE SHEET
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 245,388 240,548

CURRENT ASSETS
Stocks 8,126 978,684
Debtors 5 857,320 644,119
Cash at bank 419,912 660,308
1,285,358 2,283,111
CREDITORS
Amounts falling due within one year 6 36,538 756,326
NET CURRENT ASSETS 1,248,820 1,526,785
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,494,208

1,767,333

PROVISIONS FOR LIABILITIES 48,976 60,137
NET ASSETS 1,445,232 1,707,196

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,444,232 1,706,196
SHAREHOLDERS' FUNDS 1,445,232 1,707,196

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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 financial statements, so far as applicable to the company.

N C WILSON LIMITED (REGISTERED NUMBER: 03020915)

BALANCE SHEET - continued
31 OCTOBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





N C Wilson - Director


N C WILSON LIMITED (REGISTERED NUMBER: 03020915)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

N C Wilson Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03020915

Registered office: Quarry House
Hutts Lane
Grewelthorpe
Ripon
North Yorkshire
HG4 3DA

The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Revenue in respect of house sales is recognised on legal completion.

In respect of contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Building equipment - 15% on reducing balance
Office equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment.

N C WILSON LIMITED (REGISTERED NUMBER: 03020915)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Creditors
Short term creditors are measured at the transaction price.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost using the effective rate of interest.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Building Office Motor
improvements equipment equipment vehicles Totals
£    £    £    £    £   
COST
At 1 November 2023 - 368,568 10,539 26,000 405,107
Additions 49,484 98,800 - - 148,284
Disposals - (156,222 ) - - (156,222 )
At 31 October 2024 49,484 311,146 10,539 26,000 397,169
DEPRECIATION
At 1 November 2023 - 143,494 7,862 13,203 164,559
Charge for year - 25,028 401 3,199 28,628
Eliminated on disposal - (41,406 ) - - (41,406 )
At 31 October 2024 - 127,116 8,263 16,402 151,781
NET BOOK VALUE
At 31 October 2024 49,484 184,030 2,276 9,598 245,388
At 31 October 2023 - 225,074 2,677 12,797 240,548

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 804 3,394
Other debtors 840,000 576,757
Directors' current accounts - 38,432
Corporation Tax 8,088 -
VAT 5,874 4,344
Prepayments and accrued income 2,554 21,192
857,320 644,119

N C WILSON LIMITED (REGISTERED NUMBER: 03020915)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 12,810 417
Social security and other taxes 2,392 18,328
Directors' current accounts 10,832 -
Accruals and deferred income 10,504 737,581
36,538 756,326

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors borrowed £185,240 (2023: £156,160) from the company and repaid £234,504 (2023: £136,225) to the company during the year. An amount of £10,832 is owed to the directors at the 31 October 2024 (£38,432 was owed to the company by the directors at 31 October 2023).

8. RELATED PARTY DISCLOSURES

Members of key management personnel have given a joint personal guarantee of £100,000 in respect of the bank overdraft facility.

During the year, members of key management personnel received interest free loans from the company, full details of which are shown in note 7.