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Registered Number: 11927072
England and Wales

 

 

 

NIKTRADE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
  2024   2023
    £ £   £ £
Fixed assets   380,593      351,502 
Current assets 41,132      70,503   
Creditors: amount falling due within one year (210,259)     (122,077)  
Net current assets   (169,127)     (51,574)
Total assets less current liabilities   211,466      299,928 
Creditors: amount falling due after more than one year   (264,298)     (332,832)
Net assets   (52,832)     (32,904)
 

         
Capital and reserves   (52,832)     (32,904)
 
NOTES TO THE ACCOUNTS

General Information
NIKTRADE LTD is a private company, limited by shares, registered in England and Wales, registration number 11927072, registration address 21 COPENHAGEN GARDENS, LONDON ENGLAND, W4 5NN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 50 Reducing Balance
Plant and Machinery 18 Reducing Balance
2.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Fixtures and Fittings   Total
  £   £   £   £
At 01 April 2023 170,564    164,944    15,994    351,502 
Additions 69,270        69,270 
Disposals      
At 31 March 2024 239,834    164,944    15,994    420,772 
Depreciation
At 01 April 2023      
Charge for year   36,835    3,344    40,179 
On disposals      
At 31 March 2024   36,835    3,344    40,179 
Net book values
Closing balance as at 31 March 2024 239,834    128,109    12,650    380,593 
Opening balance as at 01 April 2023 170,564    164,944    15,994    351,502 

The net book value of Plant and Machinery, Fixtures and Fittings includes £ 122,054 (2023 £157,694) in respect of assets leased under finance leases or hire purchase contracts.

3.

Average number of employees

Average number of employees during the year was 45 (2023 : 0).


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts.
The financial statements were approved by the director on 27 December 2024 and were signed by:


--------------------------------
Homayoun Fahimipour
Director
1