Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30false2023-07-01Manufacture of chemical products73falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14150518 2023-07-01 2024-06-30 14150518 2022-06-06 2023-06-30 14150518 2024-06-30 14150518 2023-06-30 14150518 2022-06-06 14150518 c:Director1 2023-07-01 2024-06-30 14150518 d:Buildings d:LongLeaseholdAssets 2023-07-01 2024-06-30 14150518 d:Buildings d:LongLeaseholdAssets 2024-06-30 14150518 d:Buildings d:LongLeaseholdAssets 2023-06-30 14150518 d:PlantMachinery 2023-07-01 2024-06-30 14150518 d:PlantMachinery 2024-06-30 14150518 d:PlantMachinery 2023-06-30 14150518 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 14150518 d:OfficeEquipment 2023-07-01 2024-06-30 14150518 d:OfficeEquipment 2024-06-30 14150518 d:OfficeEquipment 2023-06-30 14150518 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 14150518 d:ComputerEquipment 2023-07-01 2024-06-30 14150518 d:ComputerEquipment 2024-06-30 14150518 d:ComputerEquipment 2023-06-30 14150518 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 14150518 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 14150518 d:CurrentFinancialInstruments 2024-06-30 14150518 d:CurrentFinancialInstruments 2023-06-30 14150518 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 14150518 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 14150518 d:ShareCapital 2023-07-01 2024-06-30 14150518 d:ShareCapital 2024-06-30 14150518 d:ShareCapital 2022-06-06 2023-06-30 14150518 d:ShareCapital 2023-06-30 14150518 d:ShareCapital 2022-06-06 14150518 d:SharePremium 2023-07-01 2024-06-30 14150518 d:SharePremium 2024-06-30 14150518 d:SharePremium 2022-06-06 2023-06-30 14150518 d:SharePremium 2023-06-30 14150518 d:SharePremium 2022-06-06 14150518 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 14150518 d:RetainedEarningsAccumulatedLosses 2024-06-30 14150518 d:RetainedEarningsAccumulatedLosses 2022-06-06 2023-06-30 14150518 d:RetainedEarningsAccumulatedLosses 2023-06-30 14150518 d:RetainedEarningsAccumulatedLosses 2022-06-06 14150518 c:OrdinaryShareClass1 2023-07-01 2024-06-30 14150518 c:OrdinaryShareClass1 2024-06-30 14150518 c:OrdinaryShareClass1 2023-06-30 14150518 c:OrdinaryShareClass3 2023-07-01 2024-06-30 14150518 c:OrdinaryShareClass3 2024-06-30 14150518 c:OrdinaryShareClass3 2023-06-30 14150518 c:FRS102 2023-07-01 2024-06-30 14150518 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 14150518 c:FullAccounts 2023-07-01 2024-06-30 14150518 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 14150518 d:WithinOneYear 2024-06-30 14150518 d:WithinOneYear 2023-06-30 14150518 d:BetweenOneFiveYears 2024-06-30 14150518 d:BetweenOneFiveYears 2023-06-30 14150518 2 2023-07-01 2024-06-30 14150518 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14150518









WE ARE NIUM LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2024

 
WE ARE NIUM LTD
REGISTERED NUMBER: 14150518

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
544,715
12,211

  
544,715
12,211

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
359,875
8,928

Cash at bank and in hand
  
962,238
2,174,722

  
1,322,113
2,183,650

Creditors: amounts falling due within one year
 6 
(215,465)
(67,891)

NET CURRENT ASSETS
  
 
 
1,106,648
 
 
2,115,759

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,651,363
2,127,970

  

NET ASSETS
  
1,651,363
2,127,970


CAPITAL AND RESERVES
  

Called up share capital 
 7 
19
17

Share premium account
 8 
3,294,411
2,495,320

Profit and loss account
 8 
(1,643,067)
(367,367)

  
1,651,363
2,127,970


Page 1

 
WE ARE NIUM LTD
REGISTERED NUMBER: 14150518
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P Hunter
Director

Date: 20 September 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
WE ARE NIUM LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 JUNE 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 June 2022
17
-
-
17



Loss for the period
-
-
(367,367)
(367,367)

Shares issued during the period
-
2,551,049
-
2,551,049

Share issuance costs
-
(55,729)
-
(55,729)



At 1 July 2023
17
2,495,320
(367,367)
2,127,970



Loss for the period
-
-
(1,275,700)
(1,275,700)

Shares issued during the period
2
799,091
-
799,093


AT 30 JUNE 2024
19
3,294,411
(1,643,067)
1,651,363


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
WE ARE NIUM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


GENERAL INFORMATION

The Company is limited by shares and incorporated in England and Wales. The address of the registered office and the principal trading address is 126a Olympic Avenue, Milton, Abingdon, England, OX14 4SA.
The financial statements are presented in sterling which is the functional currency of the Company.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

GOING CONCERN

The financial statements have ben prepared on the going concern basis which assumes that the Company will continue as a going concern for the foreseeable future. The trading losses reported are consistent with the Company's business plan.
Given the investment received, together with the development progress achieved, the directors have a reasonable expectation that the Company will be able to meet its liabilities as the fall due for the forseseeable future and therefore continue to adopt the going concern basis.

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
WE ARE NIUM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
WE ARE NIUM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property
-
10%
Plant and machinery
-
20%
Office equipment
-
20%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

DEBTORS

Short-term debtors are measured at transaction price, less any impairment.

 
2.10

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the period was 7 (2023 - 3).

Page 6

 
WE ARE NIUM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

4.


TANGIBLE FIXED ASSETS





Long-term leasehold property
Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£
£



COST OR VALUATION


At 1 July 2023
-
-
-
12,931
12,931


Additions
394,116
177,153
6,266
10,790
588,325


Disposals
-
-
-
(3,479)
(3,479)


Transfers between classes
-
5,771
-
(5,771)
-



At 30 June 2024

394,116
182,924
6,266
14,471
597,777



DEPRECIATION


At 1 July 2023
-
-
-
720
720


Charge for the period on owned assets
24,301
24,302
596
3,215
52,414


Disposals
-
-
-
(72)
(72)


Transfers between classes
-
265
-
(265)
-



At 30 June 2024

24,301
24,567
596
3,598
53,062



NET BOOK VALUE



At 30 June 2024
369,815
158,357
5,670
10,873
544,715



At 30 June 2023
-
-
-
12,211
12,211


5.


DEBTORS

2024
2023
£
£


Other debtors
353,094
8,928

Prepayments and accrued income
6,781
-

359,875
8,928


Page 7

 
WE ARE NIUM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
189,765
37,744

Other taxation and social security
12,800
2,344

Other creditors
5,086
-

Accruals and deferred income
7,814
27,803

215,465
67,891


Other creditors include contributions of £5,044 (2023 - £Nil) paybale to the Company's definded contribution pension scheme at the balance sheet date.


7.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,251,647 (2023 - 1,251,647) Ordinary shares of £0.00001 each
13
13
588,881 (2023 - 441,607) Series seed shares of £0.00001 each
6
4

19

17


On 18 April 2024 147,274 Series seed £0.00001 shares were issued at £5.42589 per share.


8.


RESERVES

Share premium account

Includes any premiums recevied on issue of share capital. Any transaction costs associated with issuing of shares are deducted from share premium.

Profit and loss account

Includes all current and prior year retained profits and losses.

Page 8

 
WE ARE NIUM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

9.


COMMITMENTS UNDER OPERATING LEASES

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
50,588
-

Later than 1 year and not later than 5 years
809,404
-

859,992
-

 
Page 9