Caseware UK (AP4) 2021.0.152 2021.0.152 2022-02-282022-02-282true2021-03-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01560840 2021-03-01 2022-02-28 01560840 2020-03-01 2021-02-28 01560840 2022-02-28 01560840 2021-02-28 01560840 c:CompanySecretary1 2021-03-01 2022-02-28 01560840 c:Director1 2021-03-01 2022-02-28 01560840 c:RegisteredOffice 2021-03-01 2022-02-28 01560840 d:PlantMachinery 2021-03-01 2022-02-28 01560840 d:PlantMachinery 2022-02-28 01560840 d:PlantMachinery 2021-02-28 01560840 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-03-01 2022-02-28 01560840 d:CurrentFinancialInstruments 2022-02-28 01560840 d:CurrentFinancialInstruments 2021-02-28 01560840 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 01560840 d:CurrentFinancialInstruments d:WithinOneYear 2021-02-28 01560840 d:ShareCapital 2022-02-28 01560840 d:ShareCapital 2021-02-28 01560840 d:RetainedEarningsAccumulatedLosses 2022-02-28 01560840 d:RetainedEarningsAccumulatedLosses 2021-02-28 01560840 c:OrdinaryShareClass1 2021-03-01 2022-02-28 01560840 c:OrdinaryShareClass1 2022-02-28 01560840 c:OrdinaryShareClass1 2021-02-28 01560840 c:FRS102 2021-03-01 2022-02-28 01560840 c:AuditExempt-NoAccountantsReport 2021-03-01 2022-02-28 01560840 c:FullAccounts 2021-03-01 2022-02-28 01560840 c:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01560840










NICC LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

 
NICC LIMITED
 

COMPANY INFORMATION


DIRECTOR
Mr D M Stewart 




COMPANY SECRETARY
Mrs S A P Stewart



REGISTERED NUMBER
01560840



REGISTERED OFFICE
Unit 4
Grange Industrial Park

Farnham Road

Bradford

West Yorkshire

BD7 3JG




ACCOUNTANTS
EQ Accountants LLP

Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
NICC LIMITED
REGISTERED NUMBER: 01560840

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2022

2022
2021
£
£

FIXED ASSETS
  

Tangible assets
 4 
18,269
20,877

  
18,269
20,877

CURRENT ASSETS
  

Stocks
  
2,850
1,920

Debtors: amounts falling due within one year
 5 
122,005
4,682

Cash at bank and in hand
  
36,443
81,947

  
161,298
88,549

Creditors: amounts falling due within one year
 6 
(58,113)
(10,156)

NET CURRENT ASSETS
  
 
 
103,185
 
 
78,393

TOTAL ASSETS LESS CURRENT LIABILITIES
  
121,454
99,270

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(3,202)
(3,680)

  
 
 
(3,202)
 
 
(3,680)

NET ASSETS
  
118,252
95,590


CAPITAL AND RESERVES
  

Called up share capital 
 7 
100,000
100,000

Profit and loss account
  
18,252
(4,410)

  
118,252
95,590


Page 1

 
NICC LIMITED
REGISTERED NUMBER: 01560840

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 August 2022.



Mr D M Stewart
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
NICC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

1.


GENERAL INFORMATION

 The entity is a private company, limited by shares, incorporated in England with the registration number 01560840. The registered office is Unit 4, Grange Industrial Park, Farnham Road, Bradford, BD7 3JG. The company trades from West Nevay, Newtyle, Blairgowrie, Perthshire, PH12 8SH.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
NICC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

2.ACCOUNTING POLICIES (CONTINUED)


2.4
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Plant and machinery
-
12.5% Reducing balance - 20% Straight line for finance lease assets

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4

 
NICC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

Page 5

 
NICC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

4.


TANGIBLE FIXED ASSETS





Plant and machinery

£



COST OR VALUATION


At 1 March 2021
500,710



At 28 February 2022

500,710



DEPRECIATION


At 1 March 2021
479,833


Charge for the year on owned assets
2,608



At 28 February 2022

482,441



NET BOOK VALUE



At 28 February 2022
18,269



At 28 February 2021
20,877


5.


DEBTORS

2022
2021
£
£


Trade debtors
110,996
-

Other debtors
11,009
4,682

122,005
4,682



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022
2021
£
£

Trade creditors
45,617
-

Other taxation and social security
6,005
7,156

Other creditors
3,491
-

Accruals and deferred income
3,000
3,000

58,113
10,156


Page 6

 
NICC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

7.


SHARE CAPITAL

2022
2021
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100,000 (2021 - 100,000) Ordinary shares of £1.00 each
100,000
100,000



Page 7