Silverfin false false 31/10/2024 01/11/2023 31/10/2024 Alison Jane Nice 25/10/2024 12/11/2002 Larissa Helen Nice 12/07/2023 Matthew William Nice 12/11/2002 Sam Henry Nice 01/10/2017 William Matthew Nice 16/08/2016 10 July 2025 The principle activity of the company during the year continued to be the sale of timber and building materials. 04587945 2024-10-31 04587945 bus:Director1 2024-10-31 04587945 bus:Director2 2024-10-31 04587945 bus:Director3 2024-10-31 04587945 bus:Director4 2024-10-31 04587945 bus:Director5 2024-10-31 04587945 2023-10-31 04587945 core:CurrentFinancialInstruments 2024-10-31 04587945 core:CurrentFinancialInstruments 2023-10-31 04587945 core:ShareCapital 2024-10-31 04587945 core:ShareCapital 2023-10-31 04587945 core:RetainedEarningsAccumulatedLosses 2024-10-31 04587945 core:RetainedEarningsAccumulatedLosses 2023-10-31 04587945 core:LeaseholdImprovements 2023-10-31 04587945 core:PlantMachinery 2023-10-31 04587945 core:Vehicles 2023-10-31 04587945 core:OfficeEquipment 2023-10-31 04587945 core:ComputerEquipment 2023-10-31 04587945 core:LeaseholdImprovements 2024-10-31 04587945 core:PlantMachinery 2024-10-31 04587945 core:Vehicles 2024-10-31 04587945 core:OfficeEquipment 2024-10-31 04587945 core:ComputerEquipment 2024-10-31 04587945 core:ImmediateParent core:CurrentFinancialInstruments 2024-10-31 04587945 core:ImmediateParent core:CurrentFinancialInstruments 2023-10-31 04587945 bus:OrdinaryShareClass1 2024-10-31 04587945 bus:OrdinaryShareClass2 2024-10-31 04587945 bus:OrdinaryShareClass3 2024-10-31 04587945 2023-11-01 2024-10-31 04587945 bus:FilletedAccounts 2023-11-01 2024-10-31 04587945 bus:SmallEntities 2023-11-01 2024-10-31 04587945 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 04587945 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 04587945 bus:Director1 2023-11-01 2024-10-31 04587945 bus:Director2 2023-11-01 2024-10-31 04587945 bus:Director3 2023-11-01 2024-10-31 04587945 bus:Director4 2023-11-01 2024-10-31 04587945 bus:Director5 2023-11-01 2024-10-31 04587945 core:LeaseholdImprovements core:TopRangeValue 2023-11-01 2024-10-31 04587945 core:PlantMachinery 2023-11-01 2024-10-31 04587945 core:Vehicles 2023-11-01 2024-10-31 04587945 core:OfficeEquipment 2023-11-01 2024-10-31 04587945 core:ComputerEquipment 2023-11-01 2024-10-31 04587945 2022-11-01 2023-10-31 04587945 core:LeaseholdImprovements 2023-11-01 2024-10-31 04587945 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 04587945 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 04587945 bus:OrdinaryShareClass2 2023-11-01 2024-10-31 04587945 bus:OrdinaryShareClass2 2022-11-01 2023-10-31 04587945 bus:OrdinaryShareClass3 2023-11-01 2024-10-31 04587945 bus:OrdinaryShareClass3 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04587945 (England and Wales)

M. W. NICE LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

M. W. NICE LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

M. W. NICE LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2024
M. W. NICE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2024
DIRECTORS Alison Jane Nice (Resigned 25 October 2024)
Larissa Helen Nice
Matthew William Nice
Sam Henry Nice
William Matthew Nice
REGISTERED OFFICE Brickfields Farm
Culford
Bury St Edmunds
Suffolk
IP28 6UD
United Kingdom
COMPANY NUMBER 04587945 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
M. W. NICE LIMITED

BALANCE SHEET

As at 31 October 2024
M. W. NICE LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 613,082 609,795
613,082 609,795
Current assets
Stocks 4 1,571,154 1,276,752
Debtors 5 1,400,844 782,133
Cash at bank and in hand 927,611 1,230,167
3,899,609 3,289,052
Creditors: amounts falling due within one year 6 ( 875,814) ( 742,216)
Net current assets 3,023,795 2,546,836
Total assets less current liabilities 3,636,877 3,156,631
Net assets 3,636,877 3,156,631
Capital and reserves
Called-up share capital 7 400 300
Profit and loss account 3,636,477 3,156,331
Total shareholders' funds 3,636,877 3,156,631

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 financial statements of M. W. NICE LIMITED (registered number: 04587945) were approved and authorised for issue by the Board of Directors on 10 July 2025. They were signed on its behalf by:

Matthew William Nice
Director
M. W. NICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
M. W. NICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

M. W. NICE LIMITED (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Brickfields Farm, Culford, Bury St Edmunds, Suffolk, IP28 6UD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 21 20

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Office equipment Computer equipment Total
£ £ £ £ £ £
Cost
At 01 November 2023 58,265 738,978 510,411 10,008 11,531 1,329,193
Additions 0 90,684 104,440 0 2,220 197,344
Disposals 0 ( 28,950) ( 21,570) 0 0 ( 50,520)
At 31 October 2024 58,265 800,712 593,281 10,008 13,751 1,476,017
Accumulated depreciation
At 01 November 2023 47,148 341,528 317,774 6,206 6,742 719,398
Charge for the financial year 1,486 107,964 55,820 950 1,308 167,528
Disposals 0 ( 12,665) ( 11,326) 0 0 ( 23,991)
At 31 October 2024 48,634 436,827 362,268 7,156 8,050 862,935
Net book value
At 31 October 2024 9,631 363,885 231,013 2,852 5,701 613,082
At 31 October 2023 11,117 397,450 192,637 3,802 4,789 609,795

4. Stocks

2024 2023
£ £
Stocks 1,571,154 1,276,752

5. Debtors

2024 2023
£ £
Trade debtors 813,176 721,232
Amounts owed by Group undertakings ( 12,432) 53,486
Amounts owed by Parent undertakings 600,100 0
Other debtors 0 7,415
1,400,844 782,133

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 610,050 553,937
Taxation and social security 258,634 162,946
Other creditors 7,130 25,333
875,814 742,216

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each (2023: 100 shares of £ 1.00 each) 200 100
100 B ordinary shares of £ 1.00 each 100 100
100 C ordinary shares of £ 1.00 each 100 100
400 300

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Amounts owed to M.W. Nice & Sons Ltd (12,432) 53,486

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to the directors of the company (572) (20,572)