J.T. Nixon & Sons Limited 31/03/2025 iXBRL

Company registration number: 05199389

J.T. Nixon & Sons Limited

Unaudited filleted financial statements

31 March 2025

J.T. Nixon & Sons Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	279,180		305,530
		_______		_______
			279,180		305,530

Current assets
Stocks		442,102		407,422
Debtors	6	34,236		43,400
Cash at bank and in hand		73,743		66,832
		_______		_______
		550,081		517,654
Creditors: amounts falling due
within one year	7	( 509,315)		( 537,993)
		_______		_______
Net current assets/(liabilities)			40,766		( 20,339)
			_______		_______
Total assets less current liabilities			319,946		285,191

Creditors: amounts falling due
after more than one year	8		( 34,256)		( 78,948)

Provisions for liabilities			( 66,000)		( 72,000)

			_______		_______
Net assets			219,690		134,243
			_______		_______

Capital and reserves
Called up share capital			15		15
Profit and loss account			219,675		134,228
			_______		_______
Shareholders funds			219,690		134,243
			_______		_______

For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 14 August 2025 , and are signed on behalf of the board by:

Mr D J Nixon

Director

Company registration number: 05199389

J.T. Nixon & Sons Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is J.T. Nixon & Sons Limited, Stotsfold Farm, Steel, Hexham, Northumberland, NE47 0HP.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity and are rounded to the nearest £1.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	10 %	straight line
Motor vehicles	-	25 %	straight line
Improvements	-	4 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Improve - ments	Total
	£	£	£	£
Cost
At 1 April 2024	756,297	53,882	68,137	878,316
Additions	46,435	-	-	46,435
Disposals	( 41,277)	-	-	( 41,277)
	_______	_______	_______	_______
At 31 March 2025	761,455	53,882	68,137	883,474
	_______	_______	_______	_______
Depreciation
At 1 April 2024	497,557	24,442	50,787	572,786
Charge for the year	51,545	13,470	2,740	67,755
Disposals	( 36,247)	-	-	( 36,247)
	_______	_______	_______	_______
At 31 March 2025	512,855	37,912	53,527	604,294
	_______	_______	_______	_______
Carrying amount
At 31 March 2025	248,600	15,970	14,610	279,180
	_______	_______	_______	_______
At 31 March 2024	258,740	29,440	17,350	305,530
	_______	_______	_______	_______

6. Debtors

	2025	2024
	£	£
Trade debtors	-	1,999
Other debtors	34,236	41,401
	_______	_______
	34,236	43,400
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	6,894	6,894
Trade creditors	98,322	94,686
Corporation tax	33,719	6,985
Social security and other taxes	170	360
Other creditors	370,210	429,068
	_______	_______
	509,315	537,993
	_______	_______

The other loan of £6,894 (31 March 2024 £6,894) is secured by a personal guarantee by one of the directors. Obligations under hire purchase contracts and finance leases of £37,798 (31 March 2024 £39,440) are secured on the asset the agreement relates to.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	14,936	21,830
Other creditors	19,320	57,118
	_______	_______
	34,256	78,948
	_______	_______

The other loan of £14,936 (31 March 2024 £21,830) is secured by a personal guarantee by one of the directors. Obligations under hire purchase contracts and finance leases of £19,320 (31 March 2024 £57,118) are secured on the asset the agreement relates to.

9. Related party transactions

During the year a dividend of £1,500 (31 March 2024 £3,000) was paid to the directors.

10. Controlling party

The company has no overall controlling party. Two of the directors are equal shareholders in the company.