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Company Registration No. 12102451 (England and Wales)
NIKO ONE LIMITED Unaudited accounts for the year ended 31 July 2023
NIKO ONE LIMITED Unaudited accounts Contents
Page
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NIKO ONE LIMITED Company Information for the year ended 31 July 2023
Director
Nikoloz Gvelesiani
Company Number
12102451 (England and Wales)
Registered Office
8 ADDISON AVENUE HOUNSLOW TW3 4AP ENGLAND
Accountants
Adamant Accountants Ltd Office S8, Boleyn House 776-778 Barking Road London E13 9PJ
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NIKO ONE LIMITED Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Called up share capital not paid
1 
1 
Fixed assets
Tangible assets
3,563 
4,610 
Current assets
Debtors
10,736 
8,614 
Cash at bank and in hand
- 
2,059 
10,736 
10,673 
Creditors: amounts falling due within one year
(6,382)
(7,155)
Net current assets
4,354 
3,518 
Total assets less current liabilities
7,918 
8,129 
Creditors: amounts falling due after more than one year
(6,547)
(9,258)
Net assets/(liabilities)
1,371 
(1,129)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
1,370 
(1,130)
Shareholders' funds
1,371 
(1,129)
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 April 2024 and were signed on its behalf by
Nikoloz Gvelesiani Director Company Registration No. 12102451
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NIKO ONE LIMITED Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
NIKO ONE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12102451. The registered office is 8 ADDISON AVENUE, HOUNSLOW, TW3 4AP, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. The principal accounting polices adopted are set out below.
Presentation currency
The accounts are presented in £ sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
3.1. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Sale of goods 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. Rendering of services Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
3.2. Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on reducing balance
Computer equipment
33% on cost
3.3. Cash at bank and in hands
Cash at bank and in hands are basic financial assets and include cash in hand and deposits held with financial institutions repayable without penalty on notice of non more than 24 hours.
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NIKO ONE LIMITED Notes to the Accounts for the year ended 31 July 2023
3.4. Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets.
Basic financial assets including debtors, cash and bank balances, with no stated interest rate and receivable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
Basic financial liabilities.
IBasic financial liabilities including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.
3.5. Equity instruments
Equity instruments issued by the company are recognised at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
3.6. 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 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 substantively enacted by the reporting end date.
Deferred Tax
Deferred tax liabilities are generally recognised for all timing differences and differed tax assets that are recognised to extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
3.7. Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders and directors at an annual general meeting.
3.8. Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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NIKO ONE LIMITED Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2022
5,700 
1,697 
7,397 
At 31 July 2023
5,700 
1,697 
7,397 
Depreciation
At 1 August 2022
2,227 
560 
2,787 
Charge for the year
868 
179 
1,047 
At 31 July 2023
3,095 
739 
3,834 
Net book value
At 31 July 2023
2,605 
958 
3,563 
At 31 July 2022
3,473 
1,137 
4,610 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
10,736 
6,880 
Amounts falling due after more than one year
Other debtors
- 
1,734 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
223 
- 
Taxes and social security
1,071 
1,008 
Proposed dividends
3,000 
2,000 
Other creditors
500 
- 
Loans from directors
1,588 
4,147 
6,382 
7,155 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
6,547 
9,258 
8
Loans to directors
There are no set terms as to repayment of these balances and no interest accrued thereon.
9
Average number of employees
During the year the average number of employees was 0 (2022: 2).
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