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REGISTERED NUMBER: 03099062 (England and Wales)



































Unaudited Financial Statements

for the Year Ended 31 December 2023

for

NICHE OPERABLE SYSTEMS LIMITED

NICHE OPERABLE SYSTEMS LIMITED (REGISTERED NUMBER: 03099062)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NICHE OPERABLE SYSTEMS LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Hendrik Jan Klooster





REGISTERED OFFICE: Cleveland House
1-10 Sitwell Street
KINGSTON UPON HULL
East Yorkshire
HU8 7BE





REGISTERED NUMBER: 03099062 (England and Wales)





ACCOUNTANTS: G & C Professionals Limited
trading as Graham & Company
Chartered Certified Accountants
Cleveland House
1-10 Sitwell Street
KINGSTON UPON HULL
East Yorkshire
HU8 7BE

NICHE OPERABLE SYSTEMS LIMITED (REGISTERED NUMBER: 03099062)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 24 24

CURRENT ASSETS
Stocks 5 1,500 1,500
Debtors 6 18,409 18,409
Cash at bank and in hand 754 754
20,663 20,663
CREDITORS
Amounts falling due within one year 7 149,329 149,329
NET CURRENT LIABILITIES (128,666 ) (128,666 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(128,642

)

(128,642

)

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 9 (128,842 ) (128,842 )
SHAREHOLDERS' FUNDS (128,642 ) (128,642 )

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.

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 20 September 2024 and were signed by:




Hendrik Jan Klooster - Director


NICHE OPERABLE SYSTEMS LIMITED (REGISTERED NUMBER: 03099062)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

NICHE OPERABLE SYSTEMS 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.

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.

These financial statements have been prepared on a going concern basis which assumes the continued support of the holding company and other group members as described in the note - Creditors : Amounts falling due within one year.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 January 2023
and 31 December 2023 24
NET BOOK VALUE
At 31 December 2023 24
At 31 December 2022 24

NICHE OPERABLE SYSTEMS LIMITED (REGISTERED NUMBER: 03099062)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

Multiwal UK Limited
Registered office: United Kingdom
Nature of business: Installation of operable wall systems
%
Class of shares: holding
Ordinary 24.00
2023 2022
£    £   
Aggregate capital and reserves (816,707 ) (744,155 )
Loss for the year (72,552 ) (107,570 )

5. STOCKS
2023 2022
£    £   
Materials and fittings 1,500 1,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,750 16,750
Prepayments 150 150
Other debtors 1,509 1,509
18,409 18,409

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,694 13,694
Amounts owed to group undertakings 130,832 130,832
VAT 85 85
Other creditors 4,718 4,718
149,329 149,329

The holding company and other group members have agreed to not demand full payment of monies owing to them until the company returns to a solvent trading position.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary £1 200 200

NICHE OPERABLE SYSTEMS LIMITED (REGISTERED NUMBER: 03099062)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. RESERVES
Retained
earnings
£   

At 1 January 2023 (128,842 )
Profit for the year -
At 31 December 2023 (128,842 )

10. ULTIMATE CONTROLLING PARTY

The company became a wholly owned subsidiary of Multiwal BV (a company registered in The Netherlands) on 20 June 2016.