REGISTERED NUMBER: 02070132

NICHOLLS ENGINEERING SYSTEMS LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,008,412

842,304

Investments

5

100

100

1,008,512

842,404

CURRENT ASSETS

Stocks

116,145

201,357

Debtors

6

250,802

414,925

Cash at bank

778,865

741,141

1,145,812

1,357,423

CREDITORS

Amounts falling due within one year

7

235,365

466,278

NET CURRENT ASSETS

910,447

891,145

TOTAL ASSETS LESS CURRENT LIABILITIES

1,918,959

1,733,549

CREDITORS

Amounts falling due after more than one year

8

(143,686

)

(39,188

)

PROVISIONS FOR LIABILITIES

(210,880

)

(145,673

)

NET ASSETS

1,564,393

1,548,688

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,564,293

1,548,588

SHAREHOLDERS' FUNDS

1,564,393

1,548,688

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by:

R C Nicholls - Director

1.	STATUTORY INFORMATION

Nicholls Engineering Systems Limited is a private company limited by shares. The company is registered in England under number 02070132 and the address of the registered office is Barclays Bank Chambers, Stratford-upon-Avon, Warwickshire, CV37 6AH. The company's place of business is Bird Industrial Park, Station Road, Long Marston, Stratford-upon-Avon, CV37 8RP.

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 the value of goods and services (net of VAT) provided to customers during the year with revenue being recognised with respect to the services as contractual activity progresses. The turnover is derived wholly from within the United Kingdom.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Rolling stock

-

10% on reducing balance

Light railway

-

10% on reducing balance

Property

-

2% on cost where provided

Improvements to property

-

2% on cost where provided

Plant and machinery

-

10% on reducing balance

Fixtures, fittings and office equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is deferred and amortised over the period during which the company is expected to benefit.

Government grants

Capital grants received in respect of capital expenditure are credited to deferred income which reduces as credits are made to the profit and loss account over the estimated useful life of the assets to which they relate.

Revenue grants received are credited to the profit and loss account as and when the relevant expenditure has been incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2024

203,438

1,724,515

1,927,953

Additions

-

288,468

288,468

Disposals

-

(21,263

)

(21,263

)

At 30 April 2025

203,438

1,991,720

2,195,158

DEPRECIATION

At 1 May 2024

114,084

971,565

1,085,649

Charge for year

3,836

112,474

116,310

Eliminated on disposal

-

(15,213

)

(15,213

)

At 30 April 2025

117,920

1,068,826

1,186,746

NET BOOK VALUE

At 30 April 2025

85,518

922,894

1,008,412

At 30 April 2024

89,354

752,950

842,304

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 May 2024

478,020

Additions

196,000

Transfer to ownership

(398,025

)

At 30 April 2025

275,995

DEPRECIATION

At 1 May 2024

184,674

Charge for year

25,431

Transfer to ownership

(162,995

)

At 30 April 2025

47,110

NET BOOK VALUE

At 30 April 2025

228,885

At 30 April 2024

293,346

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 May 2024

and 30 April 2025

100

NET BOOK VALUE

At 30 April 2025

100

At 30 April 2024

100

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

134,137

305,508

Other debtors

24,503

13,847

158,640

319,355

Amounts falling due after more than one year:

Amounts owed by group undertakings

92,162

95,570

Aggregate amounts

250,802

414,925

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

35,000

45,822

Trade creditors

164,594

65,597

Taxation and social security

14,852

108,834

Other creditors

10,919

236,025

235,365

466,278

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

4,167

14,167

Hire purchase contracts

135,000

20,000

Other creditors

4,519

5,021

143,686

39,188

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

170,000

65,822