NICELABEL INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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
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Basis of preparation of financial statements
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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:
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Non-going concern basis of accounting
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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.
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.
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