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REGISTERED NUMBER: 05416207 (England and Wales)


Nissen UK Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 December 2023






Nissen UK Limited (Registered number: 05416207)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Nissen UK Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: Mr I Sharif
Mr J Vogt





SECRETARY: Mr K Fandrich





REGISTERED OFFICE: 239-241 Kennington Lane
London
SE11 5QU





REGISTERED NUMBER: 05416207 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Nissen UK Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nissen UK Limited for the year ended 31 December 2023 which comprise the Abridged Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Nissen UK Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nissen UK Limited and state those matters that we have agreed to state to the Board of Directors of Nissen UK Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nissen UK Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Nissen UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nissen UK Limited. You consider that Nissen UK 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 financial statements of Nissen UK 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 financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


12 September 2024

Nissen UK Limited (Registered number: 05416207)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 5 5

CURRENT ASSETS
Inventories 65,482 54,887
Debtors 5 1,074,342 461,354
Cash at bank 461,585 686,740
1,601,409 1,202,981
CREDITORS
Amounts falling due within one year 6 954,823 433,898
NET CURRENT ASSETS 646,586 769,083
TOTAL ASSETS LESS CURRENT
LIABILITIES

646,591

769,088

CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Retained earnings 9 636,591 759,088
SHAREHOLDERS' FUNDS 646,591 769,088

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 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.

Nissen UK Limited (Registered number: 05416207)

Statement of Financial Position - 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.

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 12 September 2024 and were signed on its behalf by:





Mr I Sharif - Director


Nissen UK Limited (Registered number: 05416207)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Nissen 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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

Turnover is recognised when the customers take delivery of the goods and is derived from ordinary activities of the business.

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 - 25% on cost

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

Cost of stocks is valued using the first in first out stock valuation method. Net realisable value is the estimated selling price less cost to sell.

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 statement of financial position date.


Nissen UK Limited (Registered number: 05416207)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
In the directors' assessment of the company's ability to continue as a going concern, there are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Nissen UK Limited (Registered number: 05416207)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 9,656
DEPRECIATION
At 1 January 2023
and 31 December 2023 9,651
NET BOOK VALUE
At 31 December 2023 5
At 31 December 2022 5

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,015,580 353,664
Nissen Plast 58,640 107,670
Deferred tax asset 16 20
Prepayments 106 -
1,074,342 461,354

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 634,650 178,640
Tax 57,426 69,542
Social security and other taxes 8,463 7,252
VAT 206,341 151,130
Accrued expenses 47,943 27,334
954,823 433,898

7. DEFERRED TAX
£   
Balance at 1 January 2023 (20 )
Charge to Income Statement during year 4
Timing difference
Balance at 31 December 2023 (16 )

Nissen UK Limited (Registered number: 05416207)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000

9. RESERVES
Retained
earnings
£   

At 1 January 2023 759,088
Profit for the year 177,503
Dividends (300,000 )
At 31 December 2023 636,591

10. RELATED PARTY DISCLOSURES

Nordelektro GmbH+Co.KG

This company holds 95% shareholding of this company.

Adolf Nissen Electrobau GmbH+Co.KG

This company is a subsidiary of Nordelektro GmbH+Co.KG. During the year Nissen UK Limited has purchased goods amounting to £2,408,569 (2022- £2,676,746).

Nissen Plast

This company is a subsidiary of Nordelektro GmbH+Co.KG. An amount due from at year end was £58,640 (2022 - £107,670).