Lewis Nicholls Associates Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11089545

Lewis Nicholls Associates Limited

Unaudited financial statements

31 March 2025

Lewis Nicholls Associates Limited

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5	12,150	15,644
Investments	6	300	295
		-------	-------
		12,450	15,939

Current assets

Stocks		2,292,866	4,752,916
Debtors	7	4,289,763	926,140
Cash at bank and in hand		26,957	31,187
		-----------	-----------
		6,609,586	5,710,243

Creditors: Amounts falling due within one year	8	( 10,067,008)		( 8,639,861)
		------------		-----------
Net current liabilities			( 3,457,422)		( 2,929,618)
			-----------		-----------
Total assets less current liabilities			( 3,444,972)		( 2,913,679)
			-----------		-----------
Net liabilities			( 3,444,972)		( 2,913,679)
			-----------		-----------

Capital and reserves

Called up share capital	300	300
Profit and loss account	( 3,445,272)	( 2,913,979)
	-----------	-----------
Shareholders deficit	( 3,444,972)	( 2,913,679)
	-----------	-----------

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 income statement has not been delivered.

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 .

Lewis Nicholls Associates Limited

Statement of financial position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

P R Lewis	R P M Lewis
Director	Director

A N Nicholls
Director

Company registration number: 11089545

Lewis Nicholls Associates 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 and Wales. The address of the registered office is Sixty Six, North Quay, Great Yarmouth, Norfolk, NR30 1HE. The trading address is Ketteringham Hall, Church Road, Ketteringham, NR18 9RS.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Going concern

The company has the continued support of the associated companies. The directors therefore expect the company will be able to trade for the foreseeable future and the accounts have therefore been prepared under a going concern basis. Should this basis not be appropriate it may prove necessary to write assets down to their net recoverable value and to provide for additional liabilities that may arise.

Revenue recognition

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Computer Equipment	-	33% straight line
Plant and machinery	-	25% reducing balance
Equipment	-	15% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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 stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of employees during the year was 8 (2024: 7 ).

5. Tangible assets

	Computer Equipment	Fixtures and fittings	Office Equipment	Total
	£	£	£	£
Cost
At 1 April 2024 and 31 March 2025	5,007	18,950	6,804	30,761
	------	-------	------	-------
Depreciation
At 1 April 2024	4,747	8,290	2,080	15,117
Charge for the year	123	2,664	707	3,494
	------	-------	------	-------
At 31 March 2025	4,870	10,954	2,787	18,611
	------	-------	------	-------
Carrying amount
At 31 March 2025	137	7,996	4,017	12,150
	------	-------	------	-------
At 31 March 2024	260	10,660	4,724	15,644
	------	-------	------	-------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024	295
Additions	5
	----
At 31 March 2025	300
	----
Impairment
At 1 April 2024 and 31 March 2025	–
	----

Carrying amount
At 31 March 2025	300
	----
At 31 March 2024	295
	----

7. Debtors

	2025	2024
	£	£
Trade debtors	28,722	10,885
Amounts owed by group undertakings and undertakings in which the company has a participating interest	4,226,793	893,019
Other debtors	34,248	22,236
	-----------	---------
	4,289,763	926,140
	-----------	---------

8. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	2,529,008	1,875,428
Trade creditors	25,466	56,693
Amounts owed to group undertakings and undertakings in which the company has a participating interest	7,433,120	6,690,352
Social security and other taxes	4,205	4,429
Other Creditors	71,970	144
Credit card	( 86)	7,960
Other creditors	3,325	4,855
	------------	-----------
	10,067,008	8,639,861
	------------	-----------

The bank loan is secured upon the company's property development site.

9. Directors' advances, credits and guarantees

During the year the company operated a loan with one of the directors with an interest rate of 2.25%. On 31 March 2025, the balance owed by A N Nicholls to the company was £11,399 (2024: £nil). The maximum amount outstanding during the year was £11,399.

10. Parent company

The parent company of Lewis Nicholls Associates Limited is Lewis Enterprise Investments Limited and its registered address is Sixty Six, North Quay, Great Yarmouth, Norfolk, NR30 1HE.