Company registration number 01298220 (England and Wales)
NIKOLAS SHAW LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
NIKOLAS SHAW LIMITED
COMPANY INFORMATION
Directors
R J Shaw
N M Shaw
B T Shaw
S M Shaw
Secretary
R J Shaw
Company number
01298220
Registered office
56-64 St Thomas Street
Scarborough
YO11 1DU
Auditor
Fortus Audit LLP
Equinox House
Clifton Park
Shipton Road
York
YO30 5PA
NIKOLAS SHAW LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of comprehensive income
7
Statement of financial position
8
Statement of changes in equity
10
Statement of cash flows
9
Notes to the financial statements
11 - 19
The following pages do not form part of the financial statements
Detailed trading and profit and loss account
Schedule of administrative expenses
NIKOLAS SHAW LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 30 APRIL 2025
- 1 -

The directors present the strategic report for the period ended 30 April 2025.

Principal activities

The principal activity of the company continued to be that of the operation of the Opera House Casino in Scarborough.

Review of the business

The accounts for the period ended April 30 th 2025 show a loss as a result of lower than expected footfall and trading, influenced by the cost of living increases and government influenced employer costs. Bank Loans continue to be repaid in accordance with loan agreements.

The directors are taking mitigating actions and the future of the business is assured and the directors are confident of the long term prospects.

Principal risks and uncertainties

As with any business, the casino could be affected by future legislation changes which are outside the director’s control. The impact of any changes could be either positive or negative and management ensure that they remain up to date with the latest regulations in order to manage any risks associated with changing protocols or industry standards.

The directors do not foresee significant further adverse impact and as part of the Deepdale Holdings Group, the business is well placed to capitalise on an improving economic situation.

Development and performance

Up to date initiatives have been introduced to manage the business and to control the gaming into the most efficient model.

Opera House will continue to attract primarily a local clientele but it is anticipated that a reputation for excellence will spread throughout the region.

Key performance indicators

2025 2024

Turnover £2,736,924 £3,037,970

Gross profit £2,145,117 £2,358,746

EBITDA £87,024 £515,040

One of the key performance indicators of any casino is footfall. Footfall has remained static year on year. The directors are working towards increasing footfall with the view to augmenting revenue even further.

On behalf of the board

R J Shaw
Director
30 July 2025
NIKOLAS SHAW LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 30 APRIL 2025
- 2 -

The directors present their annual report and financial statements for the period ended 30 April 2025.

Results and dividends

The results for the period are set out on page 7.

Details required in the Directors report are included in the Strategic report as the Directors consider them to be of Strategic importance to the Company..

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

R J Shaw
N M Shaw
B T Shaw
S M Shaw
Auditor

The auditor, Fortus Audit LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
R J Shaw
Director
30 July 2025
NIKOLAS SHAW LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 30 APRIL 2025
- 3 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

NIKOLAS SHAW LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF NIKOLAS SHAW LIMITED
- 4 -
Opinion

We have audited the financial statements of Nikolas Shaw Limited (the 'company') for the period ended 30 April 2025 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 April 2025 and of its loss for the period then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial period for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

NIKOLAS SHAW LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF NIKOLAS SHAW LIMITED
- 5 -
Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The objectives of our audit, in respect to fraud are to identify and assess the risks of material misstatement of the financial statements due to fraud and obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses, and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

Our approach was as follows:

- During our planning process we gained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant of them, which are directly relevant to specific assertions in the financial statements, are those that relate to the reporting framework (FRS102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;

- We gained an understanding of how the company is complying with these frameworks by making enquiries of directors, key management and if necessary, advisors responsible for legal and compliance matters. We observed key controls and made appropriate enquiries following our review of contracts, interim financial data, board minutes and reports provided to the directors;

- We independently assessed the susceptibility of the company's financial statements to material misstatement, including how fraud or error might occur by meeting with directors and senior management with the skills and experience necessary to determine the risk factors which they believe expose the company to susceptibility to fraud and error. We also considered the impact of any business targets, the personal financial circumstances of management and staff to create a driver for fraud. We considered the culture and controls that the company has established to address the risks identified and evaluated the effectiveness of processes and procedures to prevent and detect fraud, and how senior management monitors those processes and controls. Where the risk was considered to be higher, we designed then performed audit procedures to address each identified fraud risk. These procedures included, but were not restricted to, testing large and unusual items, journals, and transactions with high estimation uncertainty. These tests were designed to provide reasonable assurance that the financial statements were free from fraud and error; and

- Based on our audit plan and understanding of the risks that specifically affect the company we designed our audit procedures to identify non-compliance with such laws and regulations identified above. Our procedures involved substantive testing of transactions and walkthrough testing of appropriate controls, with a focus on transactions in the books of prime entry that have characteristics that may indicate fraud or error. We looked for unusual patterns, large or unusual transactions, weaknesses in the payments system and new supplier transactions based on our understanding of the business; enquiries of directors and management and the results from previous audit testing; and focused testing, on specific complex areas based on risk. In addition, we completed procedures to conclude on the other information and disclosures in the directors' report and accounts with the requirements of the relevant accounting standards and UK legislation.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

NIKOLAS SHAW LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF NIKOLAS SHAW LIMITED
- 6 -
Frances Howard FCA
Senior Statutory Auditor
For and on behalf of Fortus Audit LLP
1 September 2025
2025-09-01
Equinox House
Clifton Park
Shipton Road
York
YO30 5PA
NIKOLAS SHAW LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 30 APRIL 2025
- 7 -
Period
Year
ended
ended
30 April
31 March
2025
2024
Notes
£
£
Turnover
3
2,736,924
3,037,970
Cost of sales
(591,807)
(679,224)
Gross profit
2,145,117
2,358,746
Administrative expenses
(2,184,672)
(1,942,801)
Other operating income
24,038
6,180
Operating (loss)/profit
4
(15,517)
422,125
Interest receivable and similar income
6
1,160
324
Interest payable and similar expenses
7
(108,536)
(154,987)
(Loss)/profit before taxation
(122,893)
267,462
Tax on (loss)/profit
8
25,682
(67,177)
(Loss)/profit for the financial period
(97,211)
200,285

The income statement has been prepared on the basis that all operations are continuing operations.

NIKOLAS SHAW LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2025
30 April 2025
- 8 -
30 April 2025
31 March 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
9
4,641,536
4,693,053
Investment property
10
90,109
90,109
4,731,645
4,783,162
Current assets
Stocks
11
14,206
16,575
Debtors
12
86,448
39,627
Cash at bank and in hand
333,794
573,354
434,448
629,556
Creditors: amounts falling due within one year
13
(2,704,932)
(3,975,142)
Net current liabilities
(2,270,484)
(3,345,586)
Total assets less current liabilities
2,461,161
1,437,576
Creditors: amounts falling due after more than one year
15
(1,133,889)
(12,500)
Provisions for liabilities
Deferred tax liability
16
198,853
199,446
(198,853)
(199,446)
Net assets
1,128,419
1,225,630
Capital and reserves
Called up share capital
18
100
100
Profit and loss reserves
1,128,319
1,225,530
Total equity
1,128,419
1,225,630
The financial statements were approved by the board of directors and authorised for issue on 30 July 2025 and are signed on its behalf by:
R J Shaw
Director
Company Registration No. 01298220
NIKOLAS SHAW LIMITED
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 30 APRIL 2025
- 9 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
23
347,182
413,502
Interest paid
(108,536)
(154,987)
Income taxes paid
(79,915)
(150,188)
Net cash inflow from operating activities
158,731
108,327
Investing activities
Purchase of tangible fixed assets
(52,424)
(4,863)
Interest received
1,160
324
Net cash used in investing activities
(51,264)
(4,539)
Financing activities
Repayment of bank loans
(347,027)
(165,000)
Net cash used in financing activities
(347,027)
(165,000)
Net decrease in cash and cash equivalents
(239,560)
(61,212)
Cash and cash equivalents at beginning of period
573,354
634,566
Cash and cash equivalents at end of period
333,794
573,354
NIKOLAS SHAW LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 APRIL 2025
- 10 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2023
100
1,025,245
1,025,345
Period ended 31 March 2024:
Profit and total comprehensive income for the period
-
200,285
200,285
Balance at 31 March 2024
100
1,225,530
1,225,630
Period ended 30 April 2025:
Loss and total comprehensive income for the period
-
(97,211)
(97,211)
Balance at 30 April 2025
100
1,128,319
1,128,419
NIKOLAS SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
- 11 -
1
Accounting policies
Company information

Nikolas Shaw Limited is a private company limited by shares incorporated in England and Wales. The registered office is 56-64 St Thomas Street, Scarborough, YO11 1DU. The company registration number is 01298220.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Reporting period

The year end has been changed to 30 April 2025 to better fit with the trade of the Company. These financial statements cover the period from 1 April 2024 to 30 April 2025 and the comparative figures cover the period 1 April 2023 to 31 March 2024. The comparative figures are therefore not entirely comparable.

1.4
Turnover

Turnover is recognised at the fair value of gaming win, which represents the difference between gaming wins and losses before deduction of gaming duty, and jackpot machines before machine gaming duty.

Revenues from bars and catering are recorded net of value added tax, where appropriate.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost, together with the relevant proportion of irrecoverable input VAT and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

During the construction phase of the property, prior to its opening, the company capitalised the finance costs comprising of bank charges, bank overdraft interest and loan interest. These are being depreciated in accordance with stated policies.

The residual value of the building is considered to be the "bricks and mortar" valuation of the property. This value is £3,250,000 and it is expected that the company will maintain the building in its current condition to negate the effect of deterioration over time.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold buildings
2% straight line
Plant and machinery
25% reducing balance
Fixtures and fittings
20% reducing balance
Equipment
25% reducing balance
Website development and DRGT
10% straight line

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.

1.6
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price.

NIKOLAS SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 12 -
1.8
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

NIKOLAS SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 13 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue
2025
2024
£
£
Other revenue
Interest income
1,160
324

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

NIKOLAS SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 14 -
4
Operating (loss)/profit
2025
2024
Operating (loss)/profit for the period is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
12,379
10,800
Depreciation of owned tangible fixed assets
102,541
92,915
Loss on disposal of tangible fixed assets
1,400
-
Operating lease charges
15,167
14,000
5
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
2024
Number
Number
Administrative staff
1
2
Management staff
6
6
Gaming and hospitality staff
50
48
Total
57
56

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,268,605
1,054,929
Social security costs
85,235
71,271
Pension costs
22,150
17,753
1,375,990
1,143,953
6
Interest receivable and similar income
2025
2024
£
£
Interest income
Other interest income
1,160
324
7
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
107,905
154,638
Other finance costs:
Other interest
631
349
108,536
154,987
NIKOLAS SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 15 -
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
(25,089)
79,915
Deferred tax
Origination and reversal of timing differences
(593)
(12,738)
Total tax (credit)/charge
(25,682)
67,177

The actual (credit)/charge for the period can be reconciled to the expected (credit)/charge for the period based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
(Loss)/profit before taxation
(122,893)
267,462
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(30,723)
66,866
Tax effect of expenses that are not deductible in determining taxable profit
(82)
311
Unutilised tax losses carried forward
954
-
0
Depreciation on assets not qualifying for tax allowances
4,169
-
0
Taxation (credit)/charge for the period
(25,682)
67,177
9
Tangible fixed assets
Freehold buildings
Plant and machinery
Fixtures and fittings
Equipment
Website development and DRGT
Total
£
£
£
£
£
£
Cost
At 1 April 2024
5,241,018
1,220,345
795,663
228,635
109,437
7,595,098
Additions
-
0
50,378
218
1,828
-
0
52,424
Disposals
-
0
-
0
(4,028)
-
0
-
0
(4,028)
At 30 April 2025
5,241,018
1,270,723
791,853
230,463
109,437
7,643,494
Depreciation
At 1 April 2024
748,224
1,117,077
774,960
217,840
43,944
2,902,045
Depreciation charged in the period
43,134
40,216
4,529
3,274
11,388
102,541
Eliminated in respect of disposals
-
0
-
0
(2,628)
-
0
-
0
(2,628)
At 30 April 2025
791,358
1,157,293
776,861
221,114
55,332
3,001,958
Carrying amount
At 30 April 2025
4,449,660
113,430
14,992
9,349
54,105
4,641,536
At 31 March 2024
4,492,794
103,268
20,703
10,795
65,493
4,693,053
NIKOLAS SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 16 -
10
Investment property
2025
£
Fair value
At 1 April 2024 and 30 April 2025
90,109

Investment property comprises £90,109. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

11
Stocks
2025
2024
£
£
Raw materials and consumables
14,206
16,575
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
270
479
Corporation tax recoverable
25,089
-
0
Amounts owed by group undertakings
500
500
Prepayments and accrued income
60,589
38,648
86,448
39,627
13
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
14
86,667
1,555,083
Trade creditors
58,276
54,994
Amounts owed to group undertakings
1,953,330
1,671,433
Corporation tax
-
0
79,915
Other taxation and social security
32,192
37,473
Other creditors
535,666
550,168
Accruals and deferred income
38,801
26,076
2,704,932
3,975,142

The bank loan is secured by way of a fixed and floating charge over the company's assets.

NIKOLAS SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 17 -
14
Loans and overdrafts
2025
2024
£
£
Bank loans
1,220,556
1,567,583
Payable within one year
86,667
1,555,083
Payable after one year
1,133,889
12,500

The bank overdraft and loan are secured by a 1st legal charge over The Old Opera House, St Thomas Street, Scarborough, which is the freehold property of the company, a debenture over all assets of the company, a personal guarantee in favour of the bank from Mr and Mrs Shaw capped at £700,000, a guarantee for £172,000 granted by Nikolas Shaw Limited in favour of the bank and a £2,681,000 guarantee from Nobles Seaton Carew in favour of the bank.

15
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
14
1,133,889
12,500

The bank loan is secured by way of a fixed and floating charge over the company's assets.

16
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
198,853
199,446
2025
Movements in the period:
£
Liability at 1 April 2024
199,446
Credit to profit or loss
(593)
Liability at 30 April 2025
198,853
Balance per TB
198,853
Warning - Difference exists; check stat db entries
-
There were no deferred tax movements in the period.

The deferred tax liability set out above is expected to reverse within [12 months] and relates to accelerated capital allowances that are expected to mature within the same period.

NIKOLAS SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 18 -
17
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
22,150
17,753

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

18
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Authorised
Ordinary of £1 each
1,000
1,000
1,000
1,000
Issued and fully paid
Ordinary of £1 each
100
100
100
100
19
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
15,800
17,741
Between two and five years
60,500
62,300
In over five years
54,833
70,000
131,133
150,041
20
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2025
2024
£
£
Aggregate compensation
126,613
112,282
21
Directors' transactions

Advances or credits have been granted by the company to its directors and by its directors to the company as follows:

Description
% Rate
Opening balance
Closing balance
£
£
Directors loans
-
371,096
371,096
NIKOLAS SHAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
21
Directors' transactions
(Continued)
- 19 -
371,096
371,096
22
Ultimate controlling party

The company was under the control of Deepdale Holdings (Scarborough) Limited during the year.

The largest group in which the results of the company are consolidated is that headed by Deepdale Holdings (Scarborough) Limited, a company registered in England and Wales. The registered office of Deepdale Holdings (Scarborough) Limited is 56-64 St. Thomas Street, Scarborough, England, YO11 1DU.

23
Cash generated from operations
2025
2024
£
£
(Loss)/profit for the period after tax
(97,211)
200,285
Adjustments for:
Taxation (credited)/charged
(25,682)
67,177
Finance costs
108,536
154,987
Investment income
(1,160)
(324)
Loss on disposal of tangible fixed assets
1,400
-
Depreciation and impairment of tangible fixed assets
102,541
92,915
Movements in working capital:
Decrease/(increase) in stocks
2,369
(1,412)
(Increase)/decrease in debtors
(21,732)
50,645
Increase/(decrease) in creditors
278,121
(150,771)
Cash generated from operations
347,182
413,502
24
Analysis of changes in net debt
1 April 2024
Cash flows
30 April 2025
£
£
£
Cash at bank and in hand
573,354
(239,560)
333,794
Borrowings excluding overdrafts
(1,567,583)
347,027
(1,220,556)
(994,229)
107,467
(886,762)
- 20 -
NIKOLAS SHAW LIMITED
MANAGEMENT INFORMATION
PERIOD ENDED 30 APRIL 2025
The following pages do not form part of the financial statements
2025-04-30 2024-04-01 false false false CCH Software CCH Accounts Production 2025.200 N M Shaw B T Shaw S M Shaw S M Shaw R J Shaw 01298220 2024-04-01 2025-04-30 01298220 bus:CompanySecretaryDirector1 2024-04-01 2025-04-30 01298220 bus:Director1 2024-04-01 2025-04-30 01298220 bus:Director2 2024-04-01 2025-04-30 01298220 bus:Director3 2024-04-01 2025-04-30 01298220 bus:CompanySecretary1 2024-04-01 2025-04-30 01298220 bus:Director4 2024-04-01 2025-04-30 01298220 bus:RegisteredOffice 2024-04-01 2025-04-30 01298220 2025-04-30 01298220 2023-04-01 2024-03-31 01298220 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 01298220 core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-04-30 01298220 2024-03-31 01298220 core:LandBuildings core:OwnedOrFreeholdAssets 2025-04-30 01298220 core:PlantMachinery 2025-04-30 01298220 core:FurnitureFittings 2025-04-30 01298220 core:ComputerEquipment 2025-04-30 01298220 core:MotorVehicles 2025-04-30 01298220 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 01298220 core:PlantMachinery 2024-03-31 01298220 core:FurnitureFittings 2024-03-31 01298220 core:ComputerEquipment 2024-03-31 01298220 core:MotorVehicles 2024-03-31 01298220 core:CurrentFinancialInstruments core:WithinOneYear 2025-04-30 01298220 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 01298220 core:Non-currentFinancialInstruments core:AfterOneYear 2025-04-30 01298220 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 01298220 core:CurrentFinancialInstruments 2025-04-30 01298220 core:CurrentFinancialInstruments 2024-03-31 01298220 core:ShareCapital 2025-04-30 01298220 core:ShareCapital 2024-03-31 01298220 core:RetainedEarningsAccumulatedLosses 2025-04-30 01298220 core:RetainedEarningsAccumulatedLosses 2024-03-31 01298220 core:ShareCapital 2023-03-31 01298220 core:RetainedEarningsAccumulatedLosses 2023-03-31 01298220 core:ShareCapitalOrdinaryShareClass1 2025-04-30 01298220 core:ShareCapitalOrdinaryShareClass1 2024-03-31 01298220 1 2024-04-01 2025-04-30 01298220 1 2023-04-01 2024-03-31 01298220 2024-03-31 01298220 2023-03-31 01298220 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-04-30 01298220 core:PlantMachinery 2024-04-01 2025-04-30 01298220 core:FurnitureFittings 2024-04-01 2025-04-30 01298220 core:ComputerEquipment 2024-04-01 2025-04-30 01298220 core:MotorVehicles 2024-04-01 2025-04-30 01298220 core:UKTax 2024-04-01 2025-04-30 01298220 core:UKTax 2023-04-01 2024-03-31 01298220 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 01298220 core:PlantMachinery 2024-03-31 01298220 core:FurnitureFittings 2024-03-31 01298220 core:ComputerEquipment 2024-03-31 01298220 core:MotorVehicles 2024-03-31 01298220 core:Non-currentFinancialInstruments 2025-04-30 01298220 core:Non-currentFinancialInstruments 2024-03-31 01298220 bus:OrdinaryShareClass1 2024-04-01 2025-04-30 01298220 bus:OrdinaryShareClass1 2025-04-30 01298220 bus:OrdinaryShareClass1 2024-03-31 01298220 core:WithinOneYear 2025-04-30 01298220 core:BetweenTwoFiveYears 2025-04-30 01298220 core:MoreThanFiveYears 2025-04-30 01298220 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-04-30 01298220 bus:FRS102 2024-04-01 2025-04-30 01298220 bus:Audited 2024-04-01 2025-04-30 01298220 bus:FullAccounts 2024-04-01 2025-04-30 xbrli:pure xbrli:shares iso4217:GBP