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REGISTERED NUMBER: 03571121 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Nico (UK) Limited

Nico (UK) Limited (Registered number: 03571121)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nico (UK) Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: G G Nico
A U Nunzi





SECRETARY: A U Nunzi





REGISTERED OFFICE: 94 Orchard Gate
Greenford
Middlesex
UB6 0QP





REGISTERED NUMBER: 03571121 (England and Wales)

Nico (UK) Limited (Registered number: 03571121)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,311 9,944
Investments 5 15,210 15,210
23,521 25,154

CURRENT ASSETS
Debtors 6 127,832 158,186
Cash at bank and in hand 96,982 77,378
224,814 235,564
CREDITORS
Amounts falling due within one year 7 181,604 217,578
NET CURRENT ASSETS 43,210 17,986
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,731

43,140

CREDITORS
Amounts falling due after more than one
year

8

(53,232

)

(28,998

)

PROVISIONS FOR LIABILITIES (1,725 ) (1,889 )
NET ASSETS 11,774 12,253

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,674 12,153
SHAREHOLDERS' FUNDS 11,774 12,253

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

Nico (UK) Limited (Registered number: 03571121)

Balance Sheet - continued
31 July 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:





G G Nico - Director


Nico (UK) Limited (Registered number: 03571121)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Nico (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs
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.

Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Nico (UK) Limited (Registered number: 03571121)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 104,029
Additions 600
At 31 July 2023 104,629
DEPRECIATION
At 1 August 2022 94,085
Charge for year 2,233
At 31 July 2023 96,318
NET BOOK VALUE
At 31 July 2023 8,311
At 31 July 2022 9,944

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2022
and 31 July 2023 15,210
NET BOOK VALUE
At 31 July 2023 15,210
At 31 July 2022 15,210

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 600 32,978
Amounts owed by group undertakings 120,936 103,957
Other debtors 6,296 21,251
127,832 158,186

Nico (UK) Limited (Registered number: 03571121)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 15,430 9,820
Trade creditors 22,143 34,550
Amounts owed to group undertakings 57,358 55,231
Taxation and social security 54,725 79,969
Other creditors 31,948 38,008
181,604 217,578

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 53,232 28,998

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 11,164 -

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.23 31.7.22
£    £   
Within one year 39,627 82,062
Between one and five years 72,577 4,146
112,204 86,208

10. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans and overdrafts 39,664 -

The company's bank loans and overdraft facility are secured over the assets of the company.

11. ULTIMATE PARENT COMPANY AND CONTROLLING PARTY

Nico & Nunzi (Holdings) Limited (incorporated in England) is regarded by the directors as being the company's ultimate parent company.

The ultimate controlling parties are Mr G Nico and Mr A Nunzi.