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Registration number: 08148689

NH Shopfitting & Interiors Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

NH Shopfitting & Interiors Limited

Contents

Company Information

1

Directors' Report

2

Balance Sheet and Notes to the Financial Statements

3 to 10

 

NH Shopfitting & Interiors Limited

Company Information

Directors

S Jordan

M Nichols

C Jordan

A Nichols

Registered office

Harwin House
Bolingbroke Road
Fairfield Industrial Estate
Louth
Lincolnshire
LN11 0WA

 

NH Shopfitting & Interiors Limited

Directors' Report for the Year Ended 31 October 2024

The Directors present their report and the financial statements for the year ended 31 October 2024.

Directors of the Company

The Directors who held office during the year were as follows:

S Jordan

M Nichols

C Jordan

A Nichols

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 23 June 2025 and signed on its behalf by:
 

.........................................
S Jordan
Director

.........................................
M Nichols
Director

 

NH Shopfitting & Interiors Limited

(Registration number: 08148689)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

935,702

852,711

Current assets

 

Stocks

6

98,750

98,750

Debtors

7

3,653,129

3,030,859

Cash at bank and in hand

 

1,422,988

1,412,151

 

5,174,867

4,541,760

Creditors: Amounts falling due within one year

8

(3,376,116)

(3,270,416)

Net current assets

 

1,798,751

1,271,344

Total assets less current liabilities

 

2,734,453

2,124,055

Creditors: Amounts falling due after more than one year

8

(26,271)

(130,307)

Provisions for liabilities

(177,508)

(212,975)

Net assets

 

2,530,674

1,780,773

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

2,530,574

1,780,673

Shareholders' funds

 

2,530,674

1,780,773

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 June 2025 and signed on its behalf by:
 

.........................................
S Jordan
Director

.........................................
M Nichols
Director

 
     
 

NH Shopfitting & Interiors Limited

(Registration number: 08148689)
Balance Sheet as at 31 October 2024

Notes to the Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital incorporated in United Kingdom (England & Wales) and the company registration number is 08148689.

The address of its registered office is:
Harwin House
Bolingbroke Road
Fairfield Industrial Estate
Louth
Lincolnshire
LN11 0WA

These financial statements cover the individual entity, NH Shopfitting & Interiors Limited.

These financial statements were authorised for issue by the Board on 23 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Group accounts not prepared

The company is part of a small group. The company has taken advatange of the exemption provided by section 398 of the Companies Act 2006 and has not prepared group accounts..

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

NH Shopfitting & Interiors Limited

(Registration number: 08148689)
Balance Sheet as at 31 October 2024

Notes to the Financial Statements for the Year Ended 31 October 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

5 years straight line

Plant and machinery

5 years straight line

Office equipment

33% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

NH Shopfitting & Interiors Limited

(Registration number: 08148689)
Balance Sheet as at 31 October 2024

Notes to the Financial Statements for the Year Ended 31 October 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

NH Shopfitting & Interiors Limited

(Registration number: 08148689)
Balance Sheet as at 31 October 2024

Notes to the Financial Statements for the Year Ended 31 October 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 24 (2023 - 22).

 

NH Shopfitting & Interiors Limited

(Registration number: 08148689)
Balance Sheet as at 31 October 2024

Notes to the Financial Statements for the Year Ended 31 October 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2023

137,845

137,845

At 31 October 2024

137,845

137,845

Amortisation

At 1 November 2023

137,845

137,845

At 31 October 2024

137,845

137,845

Carrying amount

At 31 October 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

749,650

549,032

1,298,682

Additions

17,291

298,606

315,897

Disposals

(15,000)

(27,000)

(42,000)

At 31 October 2024

751,941

820,638

1,572,579

Depreciation

At 1 November 2023

334,579

111,391

445,970

Charge for the year

98,612

115,395

214,007

Eliminated on disposal

(8,250)

(14,850)

(23,100)

At 31 October 2024

424,941

211,936

636,877

Carrying amount

At 31 October 2024

327,000

608,702

935,702

At 31 October 2023

415,070

437,641

852,711

 

NH Shopfitting & Interiors Limited

(Registration number: 08148689)
Balance Sheet as at 31 October 2024

Notes to the Financial Statements for the Year Ended 31 October 2024

6

Stocks

2024
£

2023
£

Other inventories

98,750

98,750

7

Debtors

Current

2024
£

2023
£

Trade debtors

2,566,955

862,698

Prepayments

68,103

74,163

Other debtors

1,018,071

2,093,998

 

3,653,129

3,030,859

 

NH Shopfitting & Interiors Limited

(Registration number: 08148689)
Balance Sheet as at 31 October 2024

Notes to the Financial Statements for the Year Ended 31 October 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

158,841

183,289

Trade creditors

 

915,626

635,198

Taxation and social security

 

796,422

391,002

Accruals and deferred income

 

10,604

42,983

Other creditors

 

1,494,623

2,017,944

 

3,376,116

3,270,416

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100

       

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Hire purchase contracts

26,271

22,361

Other borrowings

-

107,946

26,271

130,307

2024
£

2023
£

Current loans and borrowings

Hire purchase contracts

50,896

35,576

Other borrowings

107,945

147,713

158,841

183,289

11

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are assets under hire purchase secured of £77,167 (2023 - £57,937). £50,896 due in one year and £26,271 due over one year. The assets under hire purchase contracts are secured against the company's total assets.