Niico Ltd 14732866 false 2023-03-15 2023-12-31 2023-12-31 The principal activity of the company is Providing services using AI technologies to automate business processes within the Education, Public Sector and Healthcare industries Digita Accounts Production Advanced 6.30.9574.0 true true 14732866 2023-03-15 2023-12-31 14732866 2023-12-31 14732866 bus:OrdinaryShareClass1 2023-12-31 14732866 core:CurrentFinancialInstruments 2023-12-31 14732866 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 14732866 core:Non-currentFinancialInstruments 2023-12-31 14732866 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 14732866 core:OfficeEquipment 2023-12-31 14732866 bus:SmallEntities 2023-03-15 2023-12-31 14732866 bus:AuditExemptWithAccountantsReport 2023-03-15 2023-12-31 14732866 bus:FilletedAccounts 2023-03-15 2023-12-31 14732866 bus:SmallCompaniesRegimeForAccounts 2023-03-15 2023-12-31 14732866 bus:RegisteredOffice 2023-03-15 2023-12-31 14732866 bus:Director1 2023-03-15 2023-12-31 14732866 bus:Director2 2023-03-15 2023-12-31 14732866 bus:Director3 2023-03-15 2023-12-31 14732866 bus:OrdinaryShareClass1 2023-03-15 2023-12-31 14732866 bus:PrivateLimitedCompanyLtd 2023-03-15 2023-12-31 14732866 core:OfficeEquipment 2023-03-15 2023-12-31 14732866 countries:UnitedKingdom 2023-03-15 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14732866

Niico Ltd

Unaudited Filleted Financial Statements

for the Period from 15 March 2023 to 31 December 2023

 

Niico Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Niico Ltd

Company Information

Directors

Mr Alistair Sergeant

Naghmeh Askari

Mr Simon Williams

Registered office

167-169 Great Portland Street
Fifth Floor
London
W1W 5PF

Accountants

Delphi Accounting Ltd
Chartered Tax Advisers
Unit M6
Frome Business Park
Manor Road
Frome
Somerset
BA11 4FN

 

Niico Ltd

(Registration number: 14732866)
Balance Sheet as at 31 December 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

2,177

Current assets

 

Debtors

5

98,147

Cash at bank and in hand

 

286,601

 

384,748

Creditors: Amounts falling due within one year

6

(129,046)

Net current assets

 

255,702

Total assets less current liabilities

 

257,879

Creditors: Amounts falling due after more than one year

6

(500,000)

Net liabilities

 

(242,121)

Capital and reserves

 

Called up share capital

7

100

Retained earnings

(242,221)

Shareholders' deficit

 

(242,121)

For the financial period ending 31 December 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 period 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 March 2024 and signed on its behalf by:
 

.........................................
Mr Alistair Sergeant
Director

 

Niico Ltd

Notes to the Unaudited Financial Statements for the Period from 15 March 2023 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
167-169 Great Portland Street
Fifth Floor
London
W1W 5PF
United Kingdom

These financial statements were authorised for issue by the Board on 16 March 2024.

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.

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:

 

Niico Ltd

Notes to the Unaudited Financial Statements for the Period from 15 March 2023 to 31 December 2023

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

 

Niico Ltd

Notes to the Unaudited Financial Statements for the Period from 15 March 2023 to 31 December 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

2,353

2,353

At 31 December 2023

2,353

2,353

Depreciation

Charge for the period

176

176

At 31 December 2023

176

176

Carrying amount

At 31 December 2023

2,177

2,177

5

Debtors

Current

2023
£

Trade debtors

54,204

Prepayments

43,759

Other debtors

184

 

98,147

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

58,730

Taxation and social security

22,979

Accruals and deferred income

46,597

Other creditors

740

129,046

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

8

500,000

 

Niico Ltd

Notes to the Unaudited Financial Statements for the Period from 15 March 2023 to 31 December 2023

7

Share capital

Allotted, called up and fully paid shares

2023

No.

£

Ordinary Shares of £1 each

100

100

   

8

Loans and borrowings

Non-current loans and borrowings

2023
£

Other borrowings

500,000