REGISTERED NUMBER: 09235809 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

ST. NICOLAS LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

10,926

4,750

10,926

4,750

CURRENT ASSETS

Stocks

696,999

819,656

Debtors

6

1,613,406

1,283,683

Cash at bank and in hand

282,980

104,071

2,593,385

2,207,410

CREDITORS

Amounts falling due within one year

7

587,744

602,960

NET CURRENT ASSETS

2,005,641

1,604,450

TOTAL ASSETS LESS CURRENT LIABILITIES

2,016,567

1,609,200

PROVISIONS FOR LIABILITIES

2,500

1,000

NET ASSETS

2,014,067

1,608,200

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,013,967

1,608,100

SHAREHOLDERS' FUNDS

2,014,067

1,608,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:

A J M Cripwell - Director

1.	STATUTORY INFORMATION

St. Nicolas Limited is a private company limited by shares and incorporated in England, its registered number 09235809. Its registered office is Admiral House, Waterfront East, Brierley Hill, DY5 1XG.

The financial statement are presented in Sterling, which is the functional currency of the company.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, has been fully amortised.

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.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

No depreciation is charged on the company's freehold property since, in the opinion of the directors, the expected useful life is sufficiently long and the estimated residual value is sufficiently high that any such depreciation would be immaterial.

Stocks

Stock is valued at the lower of cost and net realisable value as follows:

Goods for resale - purchase cost on a first in, first out basis.

Provisions are included based on assumptions around the anticipated saleability of older stock.

Financial instruments

Basic financial instruments, including trade and other debtors, bank loans and other loans are initially recognised at transaction price, unless the transaction constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts discounted at a market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

1,000,000

AMORTISATION

At 1 April 2024

and 31 March 2025

1,000,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

76,793

Additions

7,800

At 31 March 2025

84,593

DEPRECIATION

At 1 April 2024

72,043

Charge for year

1,624

At 31 March 2025

73,667

NET BOOK VALUE

At 31 March 2025

10,926

At 31 March 2024

4,750

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

301,152

466,966

Amounts owed by group undertakings

1,276,695

-

Amounts owed by related companies

-

806,810

Other debtors

35,559

9,907

1,613,406

1,283,683

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

77,609

180,644

Taxation and social security

273,392

187,702

Other creditors

236,743

234,614

587,744

602,960

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Between one and five years

441,667

-

9.	RELATED PARTY DISCLOSURES

The company is party to a loan with another business owned by certain of the directors. At the balance sheet date £213,190 was owed to that company (2024 -£786,810). The loan is unsecured, interest free and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

On 12 March 2024 the company became a wholly owned subsidiary of Overtowan Limited, a company controlled by the directors of this company.