STANLEY J NICHOLAS LTD - Filleted accounts

Registered number

00991658

STANLEY J NICHOLAS LTD

Filleted Accounts

31 August 2024

STANLEY J NICHOLAS LTD
Registered number:		00991658
Balance Sheet
as at 31 August 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		641,069			621,458

Current assets
Stocks		5,000			5,000
Debtors	4	36,246			59,592
Cash at bank and in hand		21,516			57,387
		62,762			121,979

Creditors: amounts falling due within one year	5	(139,752)			(114,855)

Net current (liabilities)/assets			(76,990)			7,124

Total assets less current liabilities			564,079			628,582

Creditors: amounts falling due after more than one year	6		(8,929)			(41,495)



Net assets			555,150			587,087

Capital and reserves
Called up share capital			100			100
Profit and loss account			555,050			586,987

Shareholders' funds			555,150			587,087

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr E Williams-Price
Director
Approved by the board on 18 December 2025

STANLEY J NICHOLAS LTD
Notes to the Accounts
for the year ended 31 August 2024


1	Accounting policies

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings
	Motor vehicles			20% reducing balance
	Fixtures, fittings, tools and equipment			20% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					13		13


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 September 2023	394,539		52,555		841,340		1,288,434
	Additions	62,233		12,075		-		74,308
	At 31 August 2024	456,772		64,630		841,340		1,362,742

	Depreciation
	At 1 September 2023	36,797		33,443		596,736		666,976
	Charge for the year	-		5,776		48,921		54,697
	At 31 August 2024	36,797		39,219		645,657		721,673

	Net book value
	At 31 August 2024	419,975		25,411		195,683		641,069
	At 31 August 2023	357,742		19,112		244,604		621,458


4	Debtors					2024		2023
£							£

	Trade debtors					35,093		58,439
	Other debtors					1,153		1,153
						36,246		59,592


5	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loans and overdrafts					7,143		7,143
	Obligations under finance lease and hire purchase contracts					25,424		52,351
	Trade creditors					37,522		34,027
	Taxation and social security costs					64,210		16,164
	Other creditors					5,453		5,170
						139,752		114,855


6	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					8,929		16,071
	Obligations under finance lease and hire purchase contracts					-		25,424
						8,929		41,495


7	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Mr E G Williams-Price
	Directors loan account	(70)		32,935		(32,873)		(8)

	Mr A Williams-Price
	Directors loan account	(70)		32,935		(32,873)		(8)

		(140)		65,870		(65,746)		(16)


8	Controlling party

	The company is ultimately controlled by the directors by virtue of their shareholding


9	Other information

	STANLEY J NICHOLAS LTD is a private company limited by shares and incorporated in England. Its registered office is:
	The Paddocks
	New Road
	Pengam
	Gwent
	NP12 1QZ