REGISTERED NUMBER: 05287382 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Nichol & Hill Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S M Carruth

E G Carruth

I A Carruth

REGISTERED OFFICE:

Unit 2 Kellaw Road

Yarm Road Business Park

Darlington

Co. Durham

DL1 4YA

REGISTERED NUMBER:

05287382 (England and Wales)

ACCOUNTANTS:

Anderson Barrowcliff Limited

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

FIXED ASSETS

Intangible assets

4

8,453

-

Tangible assets

5

166,802

110,565

175,255

110,565

CURRENT ASSETS

Stocks

227,193

266,214

Debtors

6

654,619

368,782

Cash at bank and in hand

156,352

227,507

1,038,164

862,503

CREDITORS

Amounts falling due within one year

7

388,241

278,592

NET CURRENT ASSETS

649,923

583,911

TOTAL ASSETS LESS CURRENT LIABILITIES

825,178

694,476

CREDITORS

Amounts falling due after more than one year

8

(38,596

)

(15,944

)

PROVISIONS FOR LIABILITIES

(40,000

)

(17,500

)

NET ASSETS

746,582

661,032

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

746,482

660,932

SHAREHOLDERS' FUNDS

746,582

661,032

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

E G Carruth - Director

1.	STATUTORY INFORMATION

Nichol & Hill Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Intangible assets

Other intangible assets consists of website costs which are being written off over 3 years being the expected useful life of the asset.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Leasehold improvements

-

over the period of the lease

Plant and machinery

-

25% on reducing balance

Fixtures, fittings & equipment

-

33% on cost, 25% on cost and 25% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks and work in progress

Stocks are stated 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 stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Work in progress is valued on the cost based on the percentage complete at the year end.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only 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 balance sheet date that are expected to apply to the reversal of timing differences.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their useful economic lives. Those held under finance leases are depreciated over the useful economic lives or the lease term,whichever is shorter.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable/ payable

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2024

150,001

-

150,001

Additions

-

10,700

10,700

At 31 December 2024

150,001

10,700

160,701

AMORTISATION

At 1 January 2024

150,001

-

150,001

Amortisation for year

-

2,247

2,247

At 31 December 2024

150,001

2,247

152,248

NET BOOK VALUE

At 31 December 2024

-

8,453

8,453

At 31 December 2023

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures,

Leasehold

Plant and

fittings

Motor

improvements

machinery

& equipment

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

22,147

38,204

49,382

117,026

226,759

Additions

1,450

7,919

16,425

71,680

97,474

At 31 December 2024

23,597

46,123

65,807

188,706

324,233

DEPRECIATION

At 1 January 2024

5,057

18,107

37,127

55,903

116,194

Charge for year

4,414

5,841

6,707

24,275

41,237

At 31 December 2024

9,471

23,948

43,834

80,178

157,431

NET BOOK VALUE

At 31 December 2024

14,126

22,175

21,973

108,528

166,802

At 31 December 2023

17,090

20,097

12,255

61,123

110,565

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

79,222

25,626

Amounts owed by group undertakings

549,912

323,300

Prepayments and accrued income

25,485

19,856

654,619

368,782

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

37,508

21,650

Trade creditors

140,971

111,779

Taxation

60,223

1,681

Social security and other taxes

24,890

16,768

VAT

46,449

36,882

Other creditors

4,092

3,357

Accruals & deferred income

74,108

86,475

388,241

278,592

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

38,596

15,944

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

76,104

37,594

Hire purchase contracts are secured on the fixed assets to which they relate.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

11.	OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £12,000 (2023 : £60,000) relating to amounts payable under operating leases.

12.	PARENT UNDERTAKING

The immediate and ultimate parent company is NHC Group Holdings Limited. These financial statements are included in the consolidated financial statements of NHC Group Holdings Limited. The parent's registered office address is Unit 4 Didcot Way, Boldon Business Park, Boldon, NE35 9PD.