IRIS Accounts Production v24.2.0.383 SC649584 director 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC6495842022-12-31SC6495842023-12-31SC6495842023-01-012023-12-31SC6495842021-12-31SC6495842022-01-012022-12-31SC6495842022-12-31SC649584ns15:Scotland2023-01-012023-12-31SC649584ns14:PoundSterling2023-01-012023-12-31SC649584ns10:Director12023-01-012023-12-31SC649584ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC649584ns10:SmallEntities2023-01-012023-12-31SC649584ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC649584ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC649584ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC649584ns10:FullAccounts2023-01-012023-12-31SC649584ns10:RegisteredOffice2023-01-012023-12-31SC649584ns5:CurrentFinancialInstruments2023-12-31SC649584ns5:CurrentFinancialInstruments2022-12-31SC649584ns5:Non-currentFinancialInstruments2023-12-31SC649584ns5:Non-currentFinancialInstruments2022-12-31SC649584ns5:ShareCapital2023-12-31SC649584ns5:ShareCapital2022-12-31SC649584ns5:RetainedEarningsAccumulatedLosses2023-12-31SC649584ns5:RetainedEarningsAccumulatedLosses2022-12-31SC649584ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-01-012023-12-31SC649584ns5:PlantMachinery2023-01-012023-12-31SC649584ns5:FurnitureFittings2023-01-012023-12-31SC649584ns5:MotorVehicles2023-01-012023-12-31SC649584ns5:ComputerEquipment2023-01-012023-12-31SC649584ns5:LandBuildings2022-12-31SC649584ns5:PlantMachinery2022-12-31SC649584ns5:FurnitureFittings2022-12-31SC649584ns5:LandBuildings2023-01-012023-12-31SC649584ns5:LandBuildings2023-12-31SC649584ns5:PlantMachinery2023-12-31SC649584ns5:FurnitureFittings2023-12-31SC649584ns5:LandBuildings2022-12-31SC649584ns5:PlantMachinery2022-12-31SC649584ns5:FurnitureFittings2022-12-31SC649584ns5:MotorVehicles2022-12-31SC649584ns5:ComputerEquipment2022-12-31SC649584ns5:MotorVehicles2023-12-31SC649584ns5:ComputerEquipment2023-12-31SC649584ns5:MotorVehicles2022-12-31SC649584ns5:ComputerEquipment2022-12-31SC649584ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31SC649584ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: SC649584 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NIKNAR LTD

NIKNAR LTD (REGISTERED NUMBER: SC649584)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NIKNAR LTD

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTOR: R P G Rankin





REGISTERED OFFICE: Kilchoan Hotel
Kilchoan
ACHARACLE
Argyll
PH36 4LH





REGISTERED NUMBER: SC649584 (Scotland)





ACCOUNTANTS: R A Clement Associates
5 Argyll Square
OBAN
Argyll
PA34 4AZ

NIKNAR LTD (REGISTERED NUMBER: SC649584)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 369,820 393,020

CURRENT ASSETS
Stocks 1,275 7,726
Debtors 5 157 4,514
Cash at bank and in hand 207,064 168,343
208,496 180,583
CREDITORS
Amounts falling due within one year 6 60,902 41,329
NET CURRENT ASSETS 147,594 139,254
TOTAL ASSETS LESS CURRENT
LIABILITIES

517,414

532,274

CREDITORS
Amounts falling due after more than one year 7 (416,183 ) (446,037 )

PROVISIONS FOR LIABILITIES (13,476 ) (16,760 )
NET ASSETS 87,755 69,477

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 87,655 69,377
SHAREHOLDERS' FUNDS 87,755 69,477

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NIKNAR LTD (REGISTERED NUMBER: SC649584)

BALANCE SHEET - continued
31 December 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 director and authorised for issue on 2 September 2024 and were signed by:





R P G Rankin - Director


NIKNAR LTD (REGISTERED NUMBER: SC649584)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Niknar Ltd is a private company, limited by shares , registered in Scotland. 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.

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.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 and other post-retirement benefits
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

NIKNAR LTD (REGISTERED NUMBER: SC649584)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 324,886 40,837 124,283
Additions - 979 6,000
At 31 December 2023 324,886 41,816 130,283
DEPRECIATION
At 1 January 2023 19,494 21,158 69,420
Charge for year 6,498 5,165 15,215
At 31 December 2023 25,992 26,323 84,635
NET BOOK VALUE
At 31 December 2023 298,894 15,493 45,648
At 31 December 2022 305,392 19,679 54,863

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 22,773 1,513 514,292
Additions - 268 7,247
At 31 December 2023 22,773 1,781 521,539
DEPRECIATION
At 1 January 2023 9,963 1,237 121,272
Charge for year 3,202 367 30,447
At 31 December 2023 13,165 1,604 151,719
NET BOOK VALUE
At 31 December 2023 9,608 177 369,820
At 31 December 2022 12,810 276 393,020

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 157 363
Other debtors - 4,151
157 4,514

NIKNAR LTD (REGISTERED NUMBER: SC649584)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 21,678 20,845
Hire purchase contracts 3,735 3,735
Trade creditors 3,748 881
Taxation and social security 21,857 9,569
Other creditors 9,884 6,299
60,902 41,329

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 293,609 316,141
Hire purchase contracts 6,535 10,269
Other creditors 116,039 119,627
416,183 446,037

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 227,566 243,726
Other loans more 5yrs instal 98,336 101,924
325,902 345,650

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
The Royal Bank of Scotland Plc 287,017 298,936

The Royal Bank of Scotland PLC has floating charges over all the property or undertaking of the company.