REGISTERED NUMBER: 09774814 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Nicholsons Accountants Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R Hallsworth

Mrs G F Green

Mrs J L Brown

Mr S L Robinson

Mrs E K Brown

REGISTERED OFFICE:

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

REGISTERED NUMBER:

09774814 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

FIXED ASSETS

Intangible assets

4

1,100,000

1,100,000

Tangible assets

5

165,701

186,280

Investments

6

1

1

1,265,702

1,286,281

CURRENT ASSETS

Stocks

480,277

456,027

Debtors

846,055

972,642

Cash at bank and in hand

23,198

85,906

1,349,530

1,514,575

CREDITORS

Amounts falling due within one year

654,511

747,816

NET CURRENT ASSETS

695,019

766,759

TOTAL ASSETS LESS CURRENT LIABILITIES

1,960,721

2,053,040

CREDITORS

Amounts falling due after more than one year

(173,194

)

(342,450

)

PROVISIONS FOR LIABILITIES

(126,707

)

(118,970

)

NET ASSETS

1,660,820

1,591,620

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

1,660,520

1,591,320

SHAREHOLDERS' FUNDS

1,660,820

1,591,620

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 December 2025 and were signed on its behalf by:

Mr R Hallsworth - Director

1.	STATUTORY INFORMATION

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

Goodwill

Goodwill is stated at cost and not amortised. An annual impairment review is conducted by the Directors to establish whether this value requires adjustment. The impairment review aims to establish whether the market value for goodwill is more than the carrying value. In accordance with UK GAAP no increase to the value of goodwill is made should the impairment review indicate an increase in value.

Tangible fixed assets

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

Improvements to property

-

4% on cost

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost and 20% on cost

Stocks

Stocks and work in progress are valued at the lower of cost or net realisable value, after making due allowance for provisions for work in progress that will not be invoiced.

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measures at the present value of future payments, discounted at a market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

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.

Provisions

Provisions are recognised when there is a present obligation, either legal or constructive, as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2024 - 56 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

1,100,000

NET BOOK VALUE

At 31 March 2025

1,100,000

At 31 March 2024

1,100,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

258,876

Additions

7,087

Disposals

(14,764

)

At 31 March 2025

251,199

DEPRECIATION

At 1 April 2024

72,596

Charge for year

23,478

Eliminated on disposal

(10,576

)

At 31 March 2025

85,498

NET BOOK VALUE

At 31 March 2025

165,701

At 31 March 2024

186,280

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2024

and 31 March 2025

1

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

7.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

46,568

23,918

Between one and five years

812

-

47,380

23,918

Non-cancellable

operating leases

2025

2024

£

£

Within one year

125,000

125,000

Between one and five years

250,000

125,000

In more than five years

-

250,000

375,000

500,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdraft

64,671

-

Hire purchase contracts

47,380

23,918

Bank loans

-

60,371

112,051

84,289

Liabilities are secured on the assets for which the finance is held.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

Mr R Hallsworth

Balance outstanding at start of year

-

-

Amounts advanced

21,883

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

21,883

-

10.	RELATED PARTY DISCLOSURES

Directors' loans at the year end were £744 (2024: 150,314). These loans are on an interest free basis. Repayment of the loans is agreed annually and correctly shown within both creditors due within one year and those due after one year.

The company's bankers hold a debenture and one of the Directors has given a personal guarantee..