1 April 2025 v2026.32.1 limited_company_frs_102_section_1a_v1_1_3 companies_house Software false true true true No description of principal activity false true xbrli:pure xbrli:shares iso4217:GBP 07319439 2025-04-01 2026-03-31 07319439 2026-03-31 07319439 2025-03-31 07319439 core:WithinOneYear 2026-03-31 07319439 core:WithinOneYear 2025-03-31 07319439 core:ShareCapital 2026-03-31 07319439 core:ShareCapital 2025-03-31 07319439 core:RetainedEarningsAccumulatedLosses 2026-03-31 07319439 core:RetainedEarningsAccumulatedLosses 2025-03-31 07319439 bus:Director1 2025-04-01 2026-03-31 07319439 bus:RegisteredOffice 2025-04-01 2026-03-31 07319439 core:OfficeEquipment 2025-04-01 2026-03-31 07319439 core:FurnitureFittings 2025-04-01 2026-03-31 07319439 2024-04-01 2025-03-31 07319439 core:PlantMachinery 2025-04-01 07319439 core:PlantMachinery 2025-04-01 2026-03-31 07319439 core:PlantMachinery 2026-03-31 07319439 core:PlantMachinery 2025-03-31 07319439 core:AfterOneYear 2026-03-31 07319439 core:AfterOneYear 2025-03-31 07319439 core:BetweenOneFiveYears 2026-03-31 07319439 core:BetweenOneFiveYears 2025-03-31 07319439 1 2025-04-01 2026-03-31 07319439 countries:EnglandWales 2025-04-01 2026-03-31 07319439 bus:AuditExempt-NoAccountantsReport 2025-04-01 2026-03-31 07319439 bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 07319439 bus:SmallEntities 2025-04-01 2026-03-31 07319439 bus:FullAccounts 2025-04-01 2026-03-31
Company registration number:
07319439
Thandi Nicholls Ltd
Unaudited Filleted Financial Statements for the year ended
31 March 2026
Thandi Nicholls Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Thandi Nicholls Ltd
Year ended
31 March 2026
As described on the statement of financial position, the Board of Directors of
Thandi Nicholls Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 March 2026
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Thandi Nicholls Ltd
Accountants & Tax Advisors
Creative Industries Centre, Glaisher Drive
Wolverhampton
West Midlands
WV10 9TG
United Kingdom
Thandi Nicholls Ltd
Statement of Financial Position
31 March 2026

|  | 2026 | 2025
--- | --- | --- | ---
| Note | £ | £
Fixed assets |  |  |  |  |
Tangible assets | 5 | 21,611 |  | 17,139 |
Current assets |  |  |  |  |
Debtors | 6 | 237,451 |  | 206,218 |
Cash at bank and in hand |  | 264,895 |  | 86,262 |
|  | 502,346 |  | 292,480 |
Creditors: amounts falling due within one year | 7 | (203,986 | ) | (199,098 | )
Net current assets |  | 298,360 |  | 93,382 |
Total assets less current liabilities |  | 319,971 |  | 110,521 |
Provisions for liabilities |  | (5,402 | ) | (2,499 | )
Net assets |  | 314,569 |  | 108,022 |
Capital and reserves |  |  |  |  |
Called up share capital |  | 100 |  | 100 |
Profit and loss account |  | 314,469 |  | 107,922 |
Shareholders funds |  | 314,569 |  | 108,022 |

For the year ending
31 March 2026
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
31 July 2026
, and are signed on behalf of the board by:

S Thandi
Director

Company registration number:
07319439
Thandi Nicholls Ltd
Notes to the Financial Statements
Year ended
31 March 2026

## 1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Creative Industries Centre
,
Glaisher Drive
,
Wolverhampton
,
West Midlands
,
WV10 9TG
, United Kingdom.

## 2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

## Going concern

The director does not anticipate any changes to the current company activity for the foreseeable future and will have sufficient funds to continue to meet its liabilities as they fall due for at least twelve months from the date of the approval of the financial statements. Therefore, the financial statements have been prepared on a going concern basis.

## Turnover

The turnover represents the amounts derived from the provision of services which fall within the company's ordinary activities, stated net of value-added tax. Revenue is recognised when the service is performed and the customer is invoiced.

## Current tax

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.

## Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Office equipment | 25% straight line
Fixtures and fittings | 10% straight line

## Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

## Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

## Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

## Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

## Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

## Defined contribution pension plan

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.

## Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

## 4 Average number of employees

The average number of persons employed by the company during the year was
22
(2025:
23.00
).

## 5 Tangible assets

| Plant and machinery etc.
--- | ---
| £
Cost |  |
At 1 April 2025 | 38,345 |
Additions | 12,796 |
At 31 March 2026 | 51,141 |
Depreciation |  |
At 1 April 2025 | 21,206 |
Charge | 8,324 |
At 31 March 2026 | 29,530 |
Carrying amount |  |
At 31 March 2026 | 21,611 |
At 31 March 2025 | 17,139 |

## 6 Debtors

| 2026 | 2025
--- | --- | ---
| £ | £
Trade debtors | 27,351 |  | 21,887 |
Other debtors | 210,100 |  | 184,331 |
| 237,451 |  | 206,218 |

The debtors above include the following amounts falling due after more than one year:

| 2026 | 2025
--- | --- | ---
| £ | £
Trade debtors | 27,351 |  | 21,887 |
Other debtors | 210,100 |  | 184,381 |
| 237,451 |  | 206,268 |

## 7 Creditors: amounts falling due within one year

| 2026 | 2025
--- | --- | ---
| £ | £
Trade creditors | 13,028 |  | - |
Taxation and social security | 155,174 |  | 126,524 |
Other creditors | 35,784 |  | 72,574 |
| 203,986 |  | 199,098 |

## 8 Operating leases

The company as lessor |  |  |  |
| 2026 | 2025
--- | --- | ---
| £ | £
Not later than 1 year | 19,278 |  | 11,102.00 |
Later than 1 year and not later than 5 years | 14,945 |  | 20,315.00 |
| 34,223 |  | 31,417 |

## 9 Director's advances, credit and guarantees

The following aggregate advances and credits have been made to the director/s
Balance b/fwd: £2,550
Plus private transactions: £3,036
Plus advances £20,000
Less amounts repaid: £23,702
Balance c/fwd: £1,884

## 10 Related party transactions

During the year the company entered into the following transactions with related parties:

| 2026 | 2025
--- | --- | ---
| £ | £
Intercompany Loan - My Rental Accounts Ltd | 79,853 |  | 35,706 |

Amounts owed by My Rental Accounts Limited (company registration number 14959031), a company wholly owned by Mr S Thandi, who is also a director of the company, amounted to £79,853 at the accounting period end (2025: £35,706).

## 11 Controlling party

The immediate parent company is UK Landlord Tax Limited, a company registered in the United Kingdom (company registration number 14097048), which owns 100 per cent of the issued share capital of the company. The ultimate controlling party is Mr S Thandi, by virtue of his shareholding in UK Landlord Tax Limited.