Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312024-01-01falseNo description of principal activity2121falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08612195 2024-01-01 2024-12-31 08612195 2024-12-31 08612195 2022-08-01 2023-12-31 08612195 2023-12-31 08612195 c:CompanySecretary1 2024-01-01 2024-12-31 08612195 c:Director1 2024-01-01 2024-12-31 08612195 c:RegisteredOffice 2024-01-01 2024-12-31 08612195 d:PlantMachinery 2024-01-01 2024-12-31 08612195 d:PlantMachinery 2024-12-31 08612195 d:PlantMachinery 2023-12-31 08612195 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08612195 d:MotorVehicles 2024-01-01 2024-12-31 08612195 d:MotorVehicles 2024-12-31 08612195 d:MotorVehicles 2023-12-31 08612195 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08612195 d:FurnitureFittings 2024-01-01 2024-12-31 08612195 d:FurnitureFittings 2024-12-31 08612195 d:FurnitureFittings 2023-12-31 08612195 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08612195 d:OfficeEquipment 2024-01-01 2024-12-31 08612195 d:OfficeEquipment 2024-12-31 08612195 d:OfficeEquipment 2023-12-31 08612195 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08612195 d:ComputerEquipment 2024-01-01 2024-12-31 08612195 d:ComputerEquipment 2024-12-31 08612195 d:ComputerEquipment 2023-12-31 08612195 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08612195 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 08612195 d:OtherPropertyPlantEquipment 2024-12-31 08612195 d:OtherPropertyPlantEquipment 2023-12-31 08612195 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08612195 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08612195 d:CurrentFinancialInstruments 2024-12-31 08612195 d:CurrentFinancialInstruments 2023-12-31 08612195 d:Non-currentFinancialInstruments 2024-12-31 08612195 d:Non-currentFinancialInstruments 2023-12-31 08612195 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 08612195 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08612195 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 08612195 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 08612195 d:ShareCapital 2024-12-31 08612195 d:ShareCapital 2023-12-31 08612195 d:RetainedEarningsAccumulatedLosses 2024-12-31 08612195 d:RetainedEarningsAccumulatedLosses 2023-12-31 08612195 c:FRS102 2024-01-01 2024-12-31 08612195 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 08612195 c:FullAccounts 2024-01-01 2024-12-31 08612195 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08612195 d:WithinOneYear 2024-12-31 08612195 d:WithinOneYear 2023-12-31 08612195 d:BetweenOneFiveYears 2024-12-31 08612195 d:BetweenOneFiveYears 2023-12-31 08612195 d:HirePurchaseContracts d:WithinOneYear 2024-12-31 08612195 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 08612195 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-12-31 08612195 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 08612195 4 2024-01-01 2024-12-31 08612195 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Company registration number: 08612195







UNAUDITED DIRECTOR'S REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


ROBERT NICHOLAS LIMITED






































img63fb.png                        

 


ROBERT NICHOLAS LIMITED
 


 
COMPANY INFORMATION


Director
R N Thallon 




Company secretary
L Thallon



Registered number
08612195



Registered office
Office 27 Base Innovation Centre
Broxhead House

60 Barbados Road

Bordon

GU35 0FX




Accountants
Menzies LLP
Chartered Accountants

Victoria House

50-58 Victoria Road

Farnborough

Hampshire

GU14 7PG





 


ROBERT NICHOLAS LIMITED
 



CONTENTS



Page
Director's Report
1
Statement of Income and Retained Earnings
2
Statement of Financial Position
3 - 4
Notes to the Financial Statements
5 - 11


 


ROBERT NICHOLAS LIMITED
 


 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The Director presents his report and the financial statements for the year ended 31 December 2024.

Business review

The year ended 31 December 2024 has demonstrated the resilience and ambition of Robert Nicholas Limited as we continue to deliver on our strategy of controlled growth with sustainable profitability. In a period of continued investment and expansion, the Company has improved turnover, strengthened margins, and enhanced its overall financial position — all while remaining profitable throughout.
Turnover for the year reached £4.3 million, a strong result for a 12-month period when compared to £4.9 million achieved over the prior 17-month span. Gross profit margin increased to 28.2% and operating profit rose by 59% to £165,504. Profit before tax quadrupled to £80,480, despite ongoing investment in workforce development, plant, and infrastructure. This performance is particularly notable given our strategic decision to prioritise long-term capability and delivery capacity over short-term profit maximisation.
The Company’s balance sheet reflects this progress. Net assets increased by 62% to £208,538, and current net assets rose by 71% to £138,510. Cash at bank grew by almost 80% to £218,016, enhancing liquidity and our ability to self-finance working capital as project scale increases.
These results reflect not only stronger commercial and operational execution but also a clear focus on building a resilient, growth-ready business. Our continued success in specialist temporary works in water remains a core strength, frequently acting as a gateway to wider construction opportunities. Furthermore, our role as main contractor on a growing number of projects has improved both risk control and commercial returns.
We continue to invest in our people, culture, and systems — recognising that sustainable growth depends on capability, trust, and delivery excellence. With a stable platform, a growing pipeline, and a clear strategic direction, Robert Nicholas Limited remains focused on its ambition to scale responsibly and profitably in the years ahead.

Director

The Director who served during the year was:

R N Thallon 

Small companies note

In preparing this report, the Director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf by:
 





R N Thallon
Director

Date: 30 June 2025

Page 1

 


ROBERT NICHOLAS LIMITED
 


 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024

Year ended
31 December
17 month period ended
31 December
2024
2023
Note
£
£

  

Turnover
  
4,329,445
4,990,446

Cost of sales
  
(3,108,051)
(3,613,699)

Gross profit
  
1,221,394
1,376,747

Administrative expenses
  
(1,055,890)
(1,158,524)

Exceptional administrative expenses
 4 
-
(114,261)

Operating profit
  
165,504
103,962

Interest receivable and similar income
  
863
258

Interest payable and similar expenses
  
(85,887)
(84,860)

Profit before tax
  
80,480
19,360

Tax on profit
  
6,989
-

Profit after tax
  
87,469
19,360

  

  

Retained earnings at the beginning of the year
  
128,467
109,107

Profit for the year
  
87,469
19,360

Dividends declared and paid
  
(7,400)
-

Retained earnings at the end of the year
  
208,536
128,467
The notes on pages 5 to 11 form part of these financial statements.

Page 2

 


ROBERT NICHOLAS LIMITED
REGISTERED NUMBER:08612195



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
396,369
368,609

  
396,369
368,609

Current assets
  

Work in progress
  
190,903
162,569

Debtors: amounts falling due within one year
 6 
454,949
753,956

Cash at bank and in hand
  
218,016
121,284

  
863,868
1,037,809

Creditors: amounts falling due within one year
 7 
(725,358)
(956,974)

Net current assets
  
 
 
138,510
 
 
80,835

Total assets less current liabilities
  
534,879
449,444

Creditors: amounts falling due after more than one year
 8 
(326,341)
(320,975)

  

Net assets
  
208,538
128,469


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
208,536
128,467

  
208,538
128,469


Page 3

 


ROBERT NICHOLAS LIMITED
REGISTERED NUMBER:08612195


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R N Thallon
Director

Date: 30 June 2025

The notes on pages 5 to 11 form part of these financial statements.

Page 4

 


ROBERT NICHOLAS LIMITED
 


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

1.


General information

Robert Nicholas Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office, which is the principal place of business, is disclosed on the company information page.
In the prior year the accounting period was extended to a 17 month period ended 31 December 2023 to assist with internal management reporting, and consequently the comparative figures which cover a 17 month period are not entirely comparable. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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 is reduced for estimated customer returns, rebates and other similar allowances. 
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
 
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

 
2.3

Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. 
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

Page 5

 


ROBERT NICHOLAS LIMITED
 


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

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

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

The current 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.5

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Dams and barriers
-
10%
Straight line
Office equipment
-
25%
Straight line
Computer equipment
-
25%
Reducing balance
Assets under construction
-
No depreciation is charged whilst assets are under construction

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 


ROBERT NICHOLAS LIMITED
 


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

2.Accounting policies (continued)

 
2.7

Work in progress

Work in progress is valued at the lower of cost and net realisable value.  Costs consist of direct materials, labour and attributable overheads.  Net realisable value is based on the estimated contract value or selling price. less any further costs to completion and realisation.


 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 21 (2023 - 21).


4.


Exceptional items

Year ended
31 December
17 month period ended
31 December
2024
2023
£
£


Exceptional items
-
114,261

-
114,261

During the previous period Robert Nicholas Limited was forced to instigate adjudication proceedings against the principal contractor on one contract due to a payment dispute. Although the adjudicator's award found in favour of Robert Nicholas Limited in all contested matters, the dispute gave rise to substantial expert witness and legal costs which have been reflected in the financial statements as an exceptional item.

Page 7

ROBERT NICHOLAS LIMITED
  
 
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024



5.


Tangible fixed assets






Plant and machinery
Motor vehicles
Dams and barriers
Office equipment
Computer equipment
Assets under construction
Total

£
£
£
£
£
£
£



Cost or valuation


At 1 January 2024
97,148
198,938
257,586
-
12,902
8,150
574,724


Additions
2,735
17,470
90,299
1,114
2,286
-
113,904


Disposals
(67)
(29,990)
-
-
-
-
(30,057)


Transfers between classes
-
-
8,150
-
-
(8,150)
-



At 31 December 2024

99,816
186,418
356,035
1,114
15,188
-
658,571



Depreciation


At 1 January 2024
51,121
105,670
44,385
-
4,939
-
206,115


Charge for the year on owned assets
11,993
21,660
30,095
221
2,378
-
66,347


Disposals
-
(10,260)
-
-
-
-
(10,260)



At 31 December 2024

63,114
117,070
74,480
221
7,317
-
262,202



Net book value



At 31 December 2024
36,702
69,348
281,555
893
7,871
-
396,369



At 31 December 2023
46,027
93,268
213,201
-
7,963
8,150
368,609

Page 8
 


ROBERT NICHOLAS LIMITED
 


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

6.


Debtors

2024
2023
£
£


Trade debtors
359,166
582,265

Other debtors
33,496
102,497

Prepayments and accrued income
55,298
69,194

Deferred taxation
6,989
-

454,949
753,956


The deferred tax asset is regarded as due in more than one year.


7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
169,205
169,182

Other loans
7,277
-

Trade creditors
468,141
683,383

Other taxation and social security
33,581
32,797

Obligations under finance lease and hire purchase contracts
19,315
15,559

Other creditors
4,268
33,781

Accruals and deferred income
23,571
22,272

725,358
956,974


The following liabilities were secured:

2024
2023
£
£



Bank loans
38,295
33,845

Other creditors
-
3,898

38,295
37,743

Details of security provided:

The bank loans and other creditors shown above are secured by a fixed and floating charge over the assets of the company.

Page 9

 


ROBERT NICHOLAS LIMITED
 


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

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
168,179
151,899

Other loans
67,345
100,000

Net obligations under finance leases and hire purchase contracts
43,468
69,076

Trade creditors
47,349
-

326,341
320,975


The following liabilities were secured:

2024
2023
£
£



Bank loans
54,743
91,272

Other loans
67,345
100,000

122,088
191,272

Details of security provided:

The bank loans shown above are secured by a fixed and floating charge over the assets of the company. Other loans are secured by a fixed charge over Motor Vehicles and Plant and Machinery up to a maximum value of £100,000.


9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
19,315
15,559

Between 1-5 years
43,468
69,076

62,783
84,635

Page 10

 


ROBERT NICHOLAS LIMITED
 


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

10.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
17,721
23,684

Later than 1 year and not later than 5 years
4,890
15,996

22,611
39,680


11.


Related party transactions

Included within other creditors due within 1 year is a balance of £nil (2023 - £25,728) due to the director. This loan has been provided interest free and is considered repayable on demand. A long term loan of £67,345 (2023 - £100,000) has also been provided by the director and is reported within creditors falling due in more than 1 year. This loan has also been provided on an interest free basis.

 
Page 11