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Nikkeith Limited

Registration number : 10397920



















Annual Report and Unaudited Financial Statements

for the year ended 31 March 2023

 

Nikkeith Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 11

Detailed Profit and Loss Account

12 to 13

 

Nikkeith Limited

Company Information

Directors

Mrs Nikki Lindsay

Mr Keith Lindsay

Registered office

Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

Accountants

McParland Williams Limited
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

 

Nikkeith Limited

Directors' Report for the year ended 31 March 2023

The directors present their report and the financial statements for the year ended 31 March 2023.

Directors of the company

The directors who held office during the year were as follows:

Mrs Nikki Lindsay

Mr Keith Lindsay

Principal activity

The principal activity of the company is that of property management.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 15 November 2023 and signed on its behalf by:

.........................................
Mrs Nikki Lindsay
Director

.........................................
Mr Keith Lindsay
Director

 
     
 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of Nikkeith Limited
for the year ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Nikkeith Limited for the year ended 31 March 2023 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Nikkeith Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Nikkeith Limited and state those matters that we have agreed to state to the Board of Directors of Nikkeith Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nikkeith Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Nikkeith Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Nikkeith Limited. You consider that Nikkeith Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Nikkeith Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

image-name

McParland Williams Limited
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

15 November 2023

 

Nikkeith Limited

Profit and Loss Account for the year ended 31 March 2023

Note

2023
£

2022
£

Turnover

 

6,695

14,880

Cost of sales

 

(826)

(5,901)

Gross profit

 

5,869

8,979

Administrative expenses

 

(6,985)

(3,962)

Operating (loss)/profit

 

(1,116)

5,017

(Loss)/profit before tax

(1,116)

5,017

Taxation

4

(51)

(926)

(Loss)/profit for the financial year

 

(1,167)

4,091

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Nikkeith Limited

Statement of Comprehensive Income for the Year Ended 31 March 2023

2023
£

2022
£

(Loss)/profit for the year

(1,167)

4,091

Total comprehensive income for the year

(1,167)

4,091

 

Nikkeith Limited

(Registration number: 10397920)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

80

160

Current assets

 

Debtors

6

-

595

Cash at bank and in hand

 

538

20,212

 

538

20,807

Creditors: Amounts falling due within one year

7

(1,692)

(20,874)

Net current liabilities

 

(1,154)

(67)

Net (liabilities)/assets

 

(1,074)

93

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(1,076)

91

Total equity

 

(1,074)

93

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 15 November 2023 and signed on its behalf by:
 

.........................................
Mrs Nikki Lindsay
Director

.........................................
Mr Keith Lindsay
Director

 
     
 

Nikkeith Limited

Statement of Changes in Equity for the Year Ended 31 March 2023

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

2

91

93

Loss for the year

-

(1,167)

(1,167)

At 31 March 2023

2

(1,076)

(1,074)

Share capital
£

Retained earnings
£

Total
£

At 1 April 2021

2

-

2

Profit for the year

-

4,091

4,091

Dividends

-

(4,000)

(4,000)

At 31 March 2022

2

91

93

 

Nikkeith Limited

Notes to the Unaudited Financial Statements for the year ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

These financial statements were authorised for issue by the Board on 15 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Nikkeith Limited

Notes to the Unaudited Financial Statements for the year ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Nikkeith Limited

Notes to the Unaudited Financial Statements for the year ended 31 March 2023

4

Taxation

Tax charged/(credited) in the income statement

2023
 £

2022
 £

Current taxation

UK corporation tax

51

926

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

240

240

At 31 March 2023

240

240

Depreciation

At 1 April 2022

80

80

Charge for the year

80

80

At 31 March 2023

160

160

Carrying amount

At 31 March 2023

80

80

At 31 March 2022

160

160

 

Nikkeith Limited

Notes to the Unaudited Financial Statements for the year ended 31 March 2023

6

Debtors

2023
£

2022
£

Accrued income

-

595

-

595

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

51

926

Other creditors

1,641

19,948

1,692

20,874

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         
 

Nikkeith Limited

Detailed Profit and Loss Account for the Year Ended 31 March 2023

2023
 £

2022
 £

Turnover (analysed below)

6,695

14,880

Cost of sales (analysed below)

(826)

(5,901)

Gross profit

5,869

8,979

Gross profit (%)

87.66%

60.34%

Administrative expenses

Establishment costs (analysed below)

(520)

(561)

General administrative expenses (analysed below)

(6,324)

(3,266)

Finance charges (analysed below)

(61)

(55)

Depreciation costs (analysed below)

(80)

(80)

(6,985)

(3,962)

Operating (loss)/profit

(1,116)

5,017

(Loss)/profit before tax

(1,116)

5,017

 

Nikkeith Limited

Detailed Profit and Loss Account for the Year Ended 31 March 2023

2023
£

2022
£

   

Turnover

Rendering of services, UK

6,695

14,880

   

Cost of sales

Purchases

826

5,901

   

Establishment costs

Use of home as office

520

520

Repairs and renewals

-

41

520

561

   

General administrative expenses

Telephone and fax

701

622

Computer software and maintenance costs

-

60

Printing, postage and stationery

60

60

Sundry expenses

734

260

Travel and subsistence

3,526

1,675

Customer entertaining

1,303

89

Accountancy fees

-

500

6,324

3,266

   

Finance charges

Bank charges

61

55

   

Depreciation costs

Depreciation of office equipment

80

80