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Registered number: 10137690










NICELABEL INTERNATIONAL LIMITED










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NICELABEL INTERNATIONAL LIMITED
REGISTERED NUMBER: 10137690

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
-
5,522,257

Current assets
  

Debtors: amounts falling due within one year
 5 
670,921
62,063

Creditors: amounts falling due within one year
 6 
(669,921)
(648,060)

Net current assets/(liabilities)
  
 
 
1,000
 
 
(585,997)

Total assets less current liabilities
  
1,000
4,936,260

  

Net assets
  
1,000
4,936,260


Capital and reserves
  

Called up share capital 
  
894
894

Capital redemption reserve
  
106
106

Profit and loss account
  
-
4,935,260

  
1,000
4,936,260


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 statement of income and retained earnings 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 on 25 September 2024.




J F Bureau
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
NICELABEL INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Nicelabel International Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 10137690). Its registered office is 2 Ashgate Road, Chesterfield, Derbyshire,S40 4AA. 
The company ceased to trade on 31 December 2022 and during the year it transferred its investment to Loftware UK Limited  and the company is now dormant.

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.

The following principal accounting policies have been applied:

 
2.2

Non-going concern basis of accounting

At 31 December 2022 the company was included in a group-wide restructuring exercise whereby initially the trade and certain assets were transferred to a fellow subsidiary undertaking at net book value with the resulting consideration being included on an intercompany balance. On 30 June 2023, the company’s investment in Euro Plus was transferred to a fellow subsidiary undertaking. Following these transfers the company has ceased to trade and there are no plans to re-commence trade or activity in the company in future. Consequently, the directors have prepared the financial statements on a basis other than going concern. No adjustments have been made to the financial statements as a result of the application of a non-going concern basis of accounting.

 
2.3

Taxation

Tax is recognised in the Statement of Income and Retained Earnings

The current 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.

Page 2

 
NICELABEL INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 8).


4.


Fixed asset investments





Investments in associates

£



Cost


At 1 January 2023
5,522,257


Disposals
(5,522,257)



At 31 December 2023
-




During the year the investment was sold to Loftware UK Limited for £4,613,289 resulting in a loss of £908,968.


5.


Debtors

2023
2022
£
£


Amounts owed to other group undertakings
670,921
62,063



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amount owed to other group undertakings
669,921
648,060



7.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 25 September 2024 by ANDREW ALLCHIN FCA (Senior Statutory Auditor) on behalf of RSM UK Audit LLP.

 
Page 3