Nottingham Industrial Cleaners Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01161375 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Nottingham Industrial Cleaners Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Barge

S A Barge

REGISTERED OFFICE:

Elizabeth House

Wigman Road

Bilborough

Nottingham

NG8 3HY

REGISTERED NUMBER:

01161375 (England and Wales)

AUDITORS:

Bates Weston Audit Ltd

Statutory Auditors

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

FIXED ASSETS

Tangible assets

4

872,532

860,107

CURRENT ASSETS

Stocks

750

Debtors

5

1,411,604

1,586,270

Cash at bank and in hand

957

1,025

1,413,311

1,588,045

CREDITORS

Amounts falling due within one year

6

1,114,960

1,367,747

NET CURRENT ASSETS

298,351

220,298

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,170,883

1,080,405

CAPITAL AND RESERVES

Called up share capital

5,000

Retained earnings

1,165,883

1,075,405

SHAREHOLDERS' FUNDS

1,170,883

1,080,405

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2025 and were signed on its behalf by:

A Barge - Director

1.	STATUTORY INFORMATION

Nottingham Industrial Cleaners 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.

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 represents net invoiced sales of goods and services, excluding value added tax. Turnover is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the company will receive the agreed upon payment. Turnover relating to the provision of services is accounted for in the year in which the services are provided.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment loss. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Long leasehold

- 2% on cost

Plant and equipment

- 20% reducing balance

Fixtures and fittings

- 20% reducing balance

Motor vehicles

- 25% on cost

Freehold land is not depreciated.

The assets' residual values, useful lives and the depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'administrative expenses' in the profit and loss account.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is based on purchase invoice price on a first in first out basis.

Net realisable value is based on the estimated selling price less further costs expected to be incurred to completion and disposal.

At each reporting date, stock is assessed for impairment. If impaired, the carrying amount is reduced and the impairment loss is recognised immediately in the profit and loss account.

Deferred tax

Deferred tax arises from timing differences between taxable total profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

A deferred tax asset is recognised only when it is more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences and losses can be deducted.

Provision is made at current rates for taxation deferred in respect of all material timing differences.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term highly liquid investment with original maturities of three months or less.

Pension costs and other post-retirement benefits

The company operates defined contribution plans for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as an expense when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Related parties

The company is a wholly owned subsidiary undertaking of NIC Group Limited. The company has taken advantage of the exemption contained within Section 1A "Small Entities" of Financial Reporting Standard 102 and has therefore not disclosed transactions with entities which form part of the group, other than as normally disclosed in the notes to the financial statements.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 621 (2024 - 657 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Motor

leasehold

equipment

fittings

vehicles

Totals

£

COST

At 1 April 2024

961,449

265,877

45,641

476,425

1,749,392

Additions

-

163,711

Disposals

-

(137,571

)

(137,571

)

At 31 March 2025

961,449

265,877

45,641

502,565

1,775,532

DEPRECIATION

At 1 April 2024

341,309

247,957

27,031

272,988

889,285

Charge for year

14,129

665

3,396

94,561

112,751

Eliminated on disposal

-

(99,036

)

(99,036

)

At 31 March 2025

355,438

248,622

30,427

268,513

903,000

NET BOOK VALUE

At 31 March 2025

606,011

17,255

15,214

234,052

872,532

At 31 March 2024

620,140

17,920

18,610

203,437

860,107

Included in the cost of long leasehold property is land of £255,023 (2024: £255,023) which is not depreciated.

5.

DEBTORS

2025

2024

£

Amounts falling due within one year:

Trade debtors

1,209,990

1,369,530

Amounts owed by group undertakings

154,812

168,641

Directors' current accounts

161

4,781

Tax

-

1,518

Prepayments

13,550

12,900

1,378,513

1,557,370

Amounts falling due after more than one year:

Deferred tax asset

33,091

28,900

Aggregate amounts

1,411,604

1,586,270

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

173,770

257,066

Trade creditors

45,910

73,260

Amounts owed to group undertakings

-

11,116

Tax

10,000

36,000

Social security and other taxes

467,336

471,974

Other creditors

5,740

72,889

Directors' current accounts

-

10,297

Accrued expenses

412,204

435,145

1,114,960

1,367,747

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank overdrafts

173,770

257,066

Bank overdrafts are secured by way of a debenture, with fixed and floating charges over certain fixed assets held by the company.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Neal FCA CTA (Senior Statutory Auditor)

for and on behalf of Bates Weston Audit Ltd

9.	OTHER FINANCIAL COMMITMENTS

The company has a contingent liability in respect of a composite guarantee given to National Westminster Bank Plc to secure borrowings within the NIC Group Ltd group of companies. At the balance sheet date, the net amount of the group liability was £Nil (2024: £Nil).

10.	ULTIMATE PARENT COMPANY

The company's ultimate parent undertaking is NIC Group Limited, Elizabeth House, Wigman Road, Bilborough, Nottingham, NG8 3HY. Copies of the consolidated financial statements of NIC Group Limited are available from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.