Company registration number 02471376 (England and Wales)
NISSENS (UK) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
NISSENS (UK) LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
NISSENS (UK) LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
239
26,072
Current assets
Stocks
915,051
823,584
Debtors
4
1,549,393
1,551,651
Cash at bank and in hand
83,246
128,033
2,547,690
2,503,268
Creditors: amounts falling due within one year
5
(1,638,007)
(1,804,074)
Net current assets
909,683
699,194
Total assets less current liabilities
909,922
725,266
Provisions for liabilities
6,426
-
0
Net assets
916,348
725,266
Capital and reserves
Called up share capital
110,000
110,000
Profit and loss reserves
806,348
615,266
Total equity
916,348
725,266

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved and signed by the director and authorised for issue on 5 October 2023
Mr K  Pedersen
Director
Company Registration No. 02471376
NISSENS (UK) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 May 2021
110,000
482,443
592,443
Year ended 30 April 2022:
Profit and total comprehensive income for the year
-
132,823
132,823
Balance at 30 April 2022
110,000
615,266
725,266
Year ended 30 April 2023:
Profit and total comprehensive income for the year
-
191,082
191,082
Balance at 30 April 2023
110,000
806,348
916,348

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

NISSENS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 3 -
1
Accounting policies
Company information

Nissens (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is No 4 Castle Court 2, Castlegate Way, Dudley, West Midlands, DY1 4RH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the term of the lease (2 years)
Plant and machinery
5 years / 3 years
Fixtures, fittings & equipment
7 years
Motor vehicles
5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

NISSENS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

NISSENS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 5 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees
2023
2022
Number
Number
Total
15
14
NISSENS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2022 and 30 April 2023
59,787
197,735
257,522
Depreciation and impairment
At 1 May 2022
34,669
196,781
231,450
Depreciation charged in the year
25,118
715
25,833
At 30 April 2023
59,787
197,496
257,283
Carrying amount
At 30 April 2023
-
0
239
239
At 30 April 2022
25,118
954
26,072
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,474,078
1,459,598
Other debtors
75,315
92,053
1,549,393
1,551,651
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
66,905
71,780
Amounts owed to group undertakings
939,218
1,042,700
Corporation tax
23,150
19,346
Other taxation and social security
255,026
337,314
Other creditors
353,708
332,934
1,638,007
1,804,074
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

NISSENS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
6
Audit report information
(Continued)
- 7 -
Senior Statutory Auditor:
Wendy Davies
Statutory Auditor:
CK Audit
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
46,162
159,227
8
Parent company

The ultimate parent company is AX V III Nissens ApS, a company incorporated in Denmark.

The immediate parent company is NA International A/S, a company incorporated in Denmark.

Group accounts can be obtained from Ormhojgardvej 9, Dagnaes, DK8700 Horsens, Denmark.

 

2023-04-302022-05-01false05 October 2023CCH SoftwareCCH Accounts Production 2023.100No description of principal activityThis audit opinion is unqualifiedMr K PedersenMr K  Pedersen024713762022-05-012023-04-30024713762023-04-30024713762022-04-3002471376core:LandBuildings2023-04-3002471376core:OtherPropertyPlantEquipment2023-04-3002471376core:LandBuildings2022-04-3002471376core:OtherPropertyPlantEquipment2022-04-3002471376core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3002471376core:CurrentFinancialInstrumentscore:WithinOneYear2022-04-3002471376core:CurrentFinancialInstruments2023-04-3002471376core:CurrentFinancialInstruments2022-04-3002471376core:ShareCapital2023-04-3002471376core:ShareCapital2022-04-3002471376core:RetainedEarningsAccumulatedLosses2023-04-3002471376core:RetainedEarningsAccumulatedLosses2022-04-3002471376core:ShareCapital2021-04-3002471376core:RetainedEarningsAccumulatedLosses2021-04-3002471376bus:CompanySecretaryDirector12022-05-012023-04-3002471376core:RetainedEarningsAccumulatedLosses2021-05-012022-04-30024713762021-05-012022-04-3002471376core:RetainedEarningsAccumulatedLosses2022-05-012023-04-3002471376core:LeaseholdImprovementscore:LeasedAssetsHeldAsLessee2022-05-012023-04-3002471376core:PlantMachinery2022-05-012023-04-3002471376core:FurnitureFittings2022-05-012023-04-3002471376core:MotorVehicles2022-05-012023-04-3002471376core:LandBuildings2022-04-3002471376core:OtherPropertyPlantEquipment2022-04-30024713762022-04-3002471376core:LandBuildings2022-05-012023-04-3002471376core:OtherPropertyPlantEquipment2022-05-012023-04-3002471376core:WithinOneYear2023-04-3002471376core:WithinOneYear2022-04-3002471376bus:PrivateLimitedCompanyLtd2022-05-012023-04-3002471376bus:SmallCompaniesRegimeForAccounts2022-05-012023-04-3002471376bus:FRS1022022-05-012023-04-3002471376bus:Audited2022-05-012023-04-3002471376bus:Director12022-05-012023-04-3002471376bus:CompanySecretary12022-05-012023-04-3002471376bus:FullAccounts2022-05-012023-04-30xbrli:purexbrli:sharesiso4217:GBP