Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseproperty investment33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04143581 2023-01-01 2023-12-31 04143581 2022-01-01 2022-12-31 04143581 2023-12-31 04143581 2022-12-31 04143581 2022-01-01 04143581 c:Director1 2023-01-01 2023-12-31 04143581 d:FurnitureFittings 2023-01-01 2023-12-31 04143581 d:FurnitureFittings 2023-12-31 04143581 d:FurnitureFittings 2022-12-31 04143581 d:FreeholdInvestmentProperty 2023-12-31 04143581 d:FreeholdInvestmentProperty 2022-12-31 04143581 d:FreeholdInvestmentProperty 2 2023-01-01 2023-12-31 04143581 d:CurrentFinancialInstruments 2023-12-31 04143581 d:CurrentFinancialInstruments 2022-12-31 04143581 d:Non-currentFinancialInstruments 2023-12-31 04143581 d:Non-currentFinancialInstruments 2022-12-31 04143581 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04143581 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04143581 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04143581 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04143581 d:ShareCapital 2023-12-31 04143581 d:ShareCapital 2022-12-31 04143581 d:RevaluationReserve 2023-12-31 04143581 d:RevaluationReserve 2022-12-31 04143581 d:RetainedEarningsAccumulatedLosses 2023-12-31 04143581 d:RetainedEarningsAccumulatedLosses 2022-12-31 04143581 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04143581 c:OrdinaryShareClass1 2023-12-31 04143581 c:FRS102 2023-01-01 2023-12-31 04143581 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04143581 c:FullAccounts 2023-01-01 2023-12-31 04143581 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04143581 d:OtherDeferredTax 2023-12-31 04143581 d:OtherDeferredTax 2022-12-31 04143581 f:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04143581













NICO INVESTMENTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NICO INVESTMENTS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 7


 
NICO INVESTMENTS LIMITED
REGISTERED NUMBER:04143581

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment Property
 5 
1,350,000
1,600,000

Current assets
  

Debtors: amounts falling due within one year
 6 
72,014
69,577

Cash at bank and in hand
  
201,288
163,183

  
273,302
232,760

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(56,934)
(62,041)

Net current assets
  
 
 
216,368
 
 
170,719

Total assets less current liabilities
  
1,566,368
1,770,719

Creditors: amounts falling due after more than one year
 8 
(352,500)
(352,500)

  
1,213,868
1,418,219

Provisions for liabilities
  

Deferred tax
 9 
(149,153)
(211,652)

Net assets
  
1,064,715
1,206,567


Capital and reserves
  

Called up share capital 
 10 
300
300

Other reserve
  
728,040
915,540

Profit and loss account
  
336,375
290,727

  
1,064,715
1,206,567


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 year 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.

Page 1

 
NICO INVESTMENTS LIMITED
REGISTERED NUMBER:04143581
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The company has opted not to file the statement of comprehensive income 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 24 September 2024.


G Levy
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
NICO INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Nico Investments Limited is a limited liability company registered in England and Wales. Its registered office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD and its principal place of business is at 21 Holly Park Gardens, London, N3 3NG.
The principal activity of the company during the year was that of property investment.
The company's functional and presentational currency is £ sterling.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of rent and services receivable for the year. 
Rental income from investment properties is recognised on a straight-line basis over the rental agreement term.
Management fee income is recognised when the services are rendered. 

 
2.3

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:

Furniture, fittings and equipment
-
20%
straight line

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 the Statement of Comprehensive Income.

Page 3

 
NICO INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Investment property

Investment properties are included in the Statement of Financial Position at their open market value determined by the directors and derived from the current market rents and investment property yields for comparable real estate. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.5

Financial instruments

The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash and cash equivalents, and loans to or from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such as bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand form an integral part of the company's cash management.

 
2.6

Finance costs

Finance costs are charged to the Statement of Comprehensive Income using the effective interest rate set by the finance provider in the loan agreement.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting 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 reporting 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
NICO INVESTMENTS 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 3 (2022 - 3).


4.


Tangible fixed assets





Furniture, fittings and equipment

£



Cost


At 1 January 2023
3,294



At 31 December 2023

3,294



Depreciation


At 1 January 2023
3,294



At 31 December 2023

3,294



Net book value



At 31 December 2023
-



At 31 December 2022
-


5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
1,600,000


Surplus on revaluation
(250,000)



At 31 December 2023
1,350,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.



Page 5

 
NICO INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Other debtors
66,766
66,767

Called up share capital not paid
100
100

Prepayments and accrued income
5,148
2,710

72,014
69,577



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Taxation and social security
13,646
12,991

Other creditors
28,000
35,674

Accruals and deferred income
15,288
13,376

56,934
62,041



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
352,500
352,500


The loan is secured by a charge over the property of the company.

Page 6

 
NICO INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Deferred taxation




2023
2022


£

£






At beginning of year
211,653
141,856


Charged to profit or loss
(62,500)
69,797



At end of year
149,153
211,653

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Fair value gain on investment property
149,153
211,653


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



300 Ordinary shares of £1 each
300
300



11.Directors' personal guarantees

G Levy and U Levy, the directors of the company, have provided an unlimited personal guarantee in respect of the company's bank facilities.

 
Page 7