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REGISTERED NUMBER: SC616681 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NIKC (SCOTLAND) LTD

NIKC (SCOTLAND) LTD (REGISTERED NUMBER: SC616681)






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


NIKC (SCOTLAND) LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTOR: Mrs N Boyd





REGISTERED OFFICE: 6 Miller Road
Ayr
KA7 2AY





REGISTERED NUMBER: SC616681 (Scotland)





ACCOUNTANTS: K M Stewart & Company
6 Miller Road
Ayr
KA7 2AY

NIKC (SCOTLAND) LTD (REGISTERED NUMBER: SC616681)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,029 48,685

CURRENT ASSETS
Debtors 5 500 429
Cash at bank and in hand 5,650 2,717
6,150 3,146
CREDITORS
Amounts falling due within one year 6 15,702 20,225
NET CURRENT LIABILITIES (9,552 ) (17,079 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,477

31,606

CREDITORS
Amounts falling due after more than one
year

7

(5,667

)

(9,667

)

PROVISIONS FOR LIABILITIES (8,175 ) (9,250 )
NET ASSETS 19,635 12,689

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 19,535 12,589
SHAREHOLDERS' FUNDS 19,635 12,689

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 her 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.

NIKC (SCOTLAND) LTD (REGISTERED NUMBER: SC616681)

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 25 September 2024 and were signed by:





Mrs N Boyd - Director


NIKC (SCOTLAND) LTD (REGISTERED NUMBER: SC616681)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

NIKC (Scotland) 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.

Functional currency
The financial statements are presented in British Pounds Sterling which is the functional currency. Figures are shown to the nearest whole pound.

Significant judgements and estimates
The preparation of financial statements requires the use of certain accounting estimates . It also requires the Directors to exercise judgement in applying the Companies Accounting policies. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements, are disclosed below:

Estimation Uncertainty

Recoverability of Debtors
The Company assesses the recoverability of Debtors on an individual basis, taking into consideration payment history, and perceived liquidity. Where it is considered that there is a higher than normal risk to the recoverability of these, provision is made against the recoverability of these debts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and other taxes.

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 - 10% on cost
Fixtures and fittings - 15% on reducing balance

Financial instruments
Classification
The Company believes all financial instruments are Basic Financial Instruments. Therefore, the Company recognises these in accordance with Section 11 of the Financial Reporting Standard.

Recognition and measurement
The company's debt instruments are measured at amortised cost using the effective interest rate method.

Impairment
Financial instruments are reviewed annually for impairment.

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.

NIKC (SCOTLAND) LTD (REGISTERED NUMBER: SC616681)

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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 47,040 7,901 54,941
DEPRECIATION
At 1 January 2023 4,704 1,552 6,256
Charge for year 4,704 952 5,656
At 31 December 2023 9,408 2,504 11,912
NET BOOK VALUE
At 31 December 2023 37,632 5,397 43,029
At 31 December 2022 42,336 6,349 48,685

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 500 429

NIKC (SCOTLAND) LTD (REGISTERED NUMBER: SC616681)

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 4,000 4,000
Trade creditors 235 5,228
Other creditors 11,467 10,997
15,702 20,225

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 5,667 9,667

The bank loan is repayable in instalments over 6 years. The loan is guaranteed by government and carries an interest rate of 2.5% p.a.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 January 2023 12,589
Profit for the year 6,946
At 31 December 2023 19,535

10. RELATED PARTY DISCLOSURES

Other creditors balance includes £78 (2022: £Nil) payable to JDNC (Scotland) Limited. Miss Nikki Coachrane is common director in both companies.