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REGISTERED NUMBER: 01384942 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

NICHEBOX UK LIMITED

NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


NICHEBOX UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: C Pace





REGISTERED OFFICE: 32 Brook Street
London
W1K 5DH





REGISTERED NUMBER: 01384942 (England and Wales)





AUDITORS: Belluzzo Audit Limited
Chartered Accountants and Statutory Auditors
38 Craven Street
London
WC2N 5NG

NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024


The director presents the strategic report on the Company for the year ended 30 June 2024.

BUSINESS REVIEW
Nichebox UK Limited is the parent company of the trading entities Clive Christian Perfume Limited and its subsidiary Clive Christian Perfume LLC, which sell luxury perfumes globally through wholesale, retail, and distribution channels. The Company made a profit in the year of £ 207,551 (2023: £1,377,956 profit). As a result the company's net assets increased to £ 8,483,634 (2023: £ 8,276,083 net asset).

PRINCIPAL RISKS AND UNCERTAINTIES
Management continues to operate within specific policies, agreed by the board, to control and monitor risks within the company. Primary areas of risk are as follows:

Currency : The company involves certain sales in foreign currencies and is therefore exposed to the risk of an adverse change in exchange rates. The situation is constantly being monitored and is mitigated by financial instruments.

Intellectual property infringement : The board is very aware of the need to protect tie brand and the design features for which the company is famous. In order to do this, it actively pursues a policy of trademark and design right registration and rigorously defends these whenever arise.

SECTION 172(1) STATEMENT
The board of Directors consider they have promoted the interests of key stakeholders and the broader matters set out in section 172(1) (a-f) of the Companies Act. This section describes how the directors have had regard to these matters in exercising their duty to promote the success of the company for the benefit of its members.
S172(1)(A) The likely consequence of any decision in the long term: The strategy is to continue providing services to fellow group companies which requires a balance between capital expenditure and enhancing facilities where the need arises.
s172(1)(B) the interest of the company’s employees: There is a company-wide commitment to treating employees fairly and respectfully. The company is an equal opportunities employer and is fair to employees in pay and benefits, health and safety at work, and in the training and personal development offered.
s172(1)(C) The need to foster the company’s business relationships with supplies, customers and others: Delivering the company’s quality policy requires strong, mutually beneficial relationships with suppliers. The company believes in lasting partnerships, founded on shared commitment to quality, value and service.
s172(1)(D) The impact of the company’s operations on the community and the environment: The role the company must and does play in society is recognised. The company will only succeed by working with customers, governments, suppliers and other stakeholders.
s172(1)(E) The desirability of the company maintaining a reputation for high standards of business conduct: We continue to maintain and enhance the reputation of the company for competency and quality and all dealings with stakeholders and customers. Over and above this our policies on modern slavery and any irresponsible
s172(1)(F) The need to act fairly as between members of the company.
All decisions taken seek to ensure fairness between members of the company. The impact of decisions on stakeholders remains a key variable in any and all decision-making.

KEY PERFORMANCE INDICATORS
Nichebox UK is a holding company and there are no relevant KPIs to monitor, as the Management focuses on the returns of its subsidiaries only.

ON BEHALF OF THE BOARD:





C Pace - Director


17 December 2024

NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30 JUNE 2024


The director presents his report with the financial statements of the company for the year ended 30 June 2024.

DIVIDENDS
No dividends will be distributed for the year ended 30 June 2024.

DIRECTOR
C Pace held office during the whole of the period from 1 July 2023 to the date of this report.

RESULTS AND DIVIDENDS
The Profit for the year, after taxation, amounted to £ 207,551 (2023: £1,377,956 profit).

The director does not recommend the payment of a dividend (2023: £Nil).

FUTURE DEVELOPMENTS
The focus for 2023-2024 is to support its subsidiaries in achieving profitability and creating opportunities to grow their business.

POST BALANCE SHEET EVENTS
There are no post balance sheet events to report.

STREAMLINED ENERGY AND CARBON REPORTING
The directors have evaluated the energy consumption of the company and are satisfied the 40,000 KWh threshold has not been exceeded. On this basis, the streamlined carbon and energy reporting disclosures have not been provided.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30 JUNE 2024


AUDITORS
The auditors, Belluzzo Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C Pace - Director


17 December 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NICHEBOX UK LIMITED


Opinion
We have audited the financial statements of Nichebox UK Limited (the 'company') for the year ended 30 June 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NICHEBOX UK LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NICHEBOX UK LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, UK tax legislation and UK employment legislation.

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
-assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;
-investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims;

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NICHEBOX UK LIMITED

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Tony Castagnetti (Senior Statutory Auditor)
for and on behalf of Belluzzo Audit Limited
Chartered Accountants and Statutory Auditors
38 Craven Street
London
WC2N 5NG

7 January 2025

NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

TURNOVER 3 3,378,846 2,908,966

Administrative expenses (3,290,794 ) (1,498,507 )
88,052 1,410,459

Other operating income 84,578 -
OPERATING PROFIT and
PROFIT BEFORE TAXATION 172,630 1,410,459

Tax on profit 6 34,921 (32,503 )
PROFIT FOR THE FINANCIAL YEAR 207,551 1,377,956

NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 207,551 1,377,956


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

207,551
Prior year adjustment 6,372,358
TOTAL COMPREHENSIVE INCOME
SINCE LAST ANNUAL REPORT

7,750,314

NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 7 242,177 186,404
Tangible assets 8 35,093 28,862
Investments 9 8,104,340 8,104,340
8,381,610 8,319,606

CURRENT ASSETS
Debtors 10 2,318,396 2,798,339
Cash at bank 346,651 97,316
2,665,047 2,895,655
CREDITORS
Amounts falling due within one year 11 (2,563,023 ) (2,939,178 )
NET CURRENT ASSETS/(LIABILITIES) 102,024 (43,523 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,483,634

8,276,083

CAPITAL AND RESERVES
Called up share capital 12 2,745,798 2,745,798
Share premium 13 6,329,250 6,329,250
Capital redemption reserve 13 250 250
Retained earnings 13 (591,664 ) (799,215 )
SHAREHOLDERS' FUNDS 8,483,634 8,276,083

The financial statements were approved by the director and authorised for issue on 17 December 2024 and were signed by:





C Pace - Director


NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 July 2022 2,745,798 (8,549,529 ) 6,329,250 250 525,769
Prior year adjustment - 6,372,358 - - 6,372,358
As restated 2,745,798 (2,177,171 ) 6,329,250 250 6,898,127

Changes in equity
Total comprehensive income - 1,377,956 - - 1,377,956
Balance at 30 June 2023 2,745,798 (799,215 ) 6,329,250 250 8,276,083

Changes in equity
Total comprehensive income - 207,551 - - 207,551
Balance at 30 June 2024 2,745,798 (591,664 ) 6,329,250 250 8,483,634

NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Nichebox UK Limited is a private company, limited by shares, incorporated in England & Wales under the Companies Act 2006 The registered office is stated on the company information page. The principal activity of the Company is that of a holding company that recharges fellow group companies for services provided.

The presentation currency of the financial statements is the Pound Sterling (£)

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policie.

The following principal accounting policies have been applied:

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and
11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirement of paragraph 33.7.

Preparation of consolidated financial statements
The financial statements contain information about Nichebox UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Nichebox S.R.L., Via Turati Filippo, 29, 20121, Italy.

Judgements in applying accounting policies and key sources of estimation
In preparing these financial statements, the Director has had to make the following judgements:

Determine whether there are indicators of impairment of the Company's intangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty:

Recoverability of amounts due from group undertakings.

Provision for impairment of the carrying value of amounts due from group undertakings is made based on management's estimate of the prospect of recovering the amounts due, which includes considering the solvency of the counterparty and its future outlook.

NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Trademarks : 10 years
Computer software : 5 years

Management have deemed that 10 years is a reliable estimate of the useful life as this is the period that they expect to receive benefits from the trademarks.

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment : 20% per annum straight line

The assets' residual values, useful lives and depreciation methods arc 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 profit or loss.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The director has at the time of approving the financial statements a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Given the nature of service holding company, Nichebox UK continued to support the growth of the operating companies, whose results and performance continue to confirm the growth and ability to generate positive cash flows.

The director is confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the approval of the financial statements and therefore has prepared the financial statements on a going concern basis.

Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 1,673,673 2,220,298
Europe 1,705,173 688,668
3,378,846 2,908,966

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,775,087 1,452,453
Social security costs 307,969 198,461
Other pension costs 65,754 53,130
2,148,810 1,704,044

NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Administrative 30 29

2024 2023
£    £   
Director's remuneration - -

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 5,038 -
Other operating leases 42,227 3,817
Depreciation - owned assets 9,415 6,722
Loss on disposal of fixed assets - 1,192
Patents and licences amortisation 34,873 28,983
Computer software amortisation 1,981 -
Auditors' remuneration 6,500 6,500
Foreign exchange differences 18,151 18,200

6. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
Tax (34,921 ) 32,503
Tax on profit (34,921 ) 32,503

UK corporation tax has been charged at 25% (2023 - 20.30%).

NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


6. TAXATION - continued

Reconciliation of total tax (credit)/charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 172,630 1,410,459
Profit multiplied by the standard rate of corporation tax in the UK of 23%
(2023 - 20.300%)

39,705

286,323

Effects of:
Deductions and reliefs (14,516 ) (253,820 )
R&D Tax credit (60,110 ) -
Total tax (credit)/charge (34,921 ) 32,503

7. INTANGIBLE FIXED ASSETS
Patents
and Computer
licences software Totals
£    £    £   
COST
At 1 July 2023 296,570 3,396 299,966
Additions 85,856 6,771 92,627
At 30 June 2024 382,426 10,167 392,593
AMORTISATION
At 1 July 2023 113,562 - 113,562
Amortisation for year 34,873 1,981 36,854
At 30 June 2024 148,435 1,981 150,416
NET BOOK VALUE
At 30 June 2024 233,991 8,186 242,177
At 30 June 2023 183,008 3,396 186,404

NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


8. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 37,266 - 37,266
Additions - 15,646 15,646
Reclassification/transfer (37,266 ) 37,266 -
At 30 June 2024 - 52,912 52,912
DEPRECIATION
At 1 July 2023 8,404 - 8,404
Charge for year - 9,415 9,415
Reclassification/transfer (8,404 ) 8,404 -
At 30 June 2024 - 17,819 17,819
NET BOOK VALUE
At 30 June 2024 - 35,093 35,093
At 30 June 2023 28,862 - 28,862

9. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 July 2023
and 30 June 2024 8,104,340
NET BOOK VALUE
At 30 June 2024 8,104,340
At 30 June 2023 8,104,340

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

Clive Christian Perfume Limited
Registered office: 32 Brook Street, 3rd Floor, London, England, W1K 5DH
Nature of business: Wholesaler, retailer and distributor of perfumes
%
Class of shares: holding
Ordinary 100.00

Clive Christian Perfume LLC
Registered office: 9100 S. Dadeland Blvd. -Suite 1500- Miami, FI.33156
Nature of business: Wholesaler,retailer & Distrubutor of Lux.Perfum
%
Class of shares: holding
Ordinary 100.00

NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


9. FIXED ASSET INVESTMENTS - continued

The Crown Perfumery Company Limited
Registered office: 32 Brook Street, 3rd Floor, London, England, W1K 5DH
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 90,063 112,307
Amounts owed by group undertakings 2,084,555 2,678,021
Other debtors 4,397 7,433
Prepayments and accrued income 139,381 578
2,318,396 2,798,339

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 143,724 17,125
Amounts owed to group company 1,854,893 2,237,688
Tax 25,189 32,503
Social security and other taxes 39,472 38,993
VAT 154,811 58,526
Other creditors 17,827 384
Accruals and deferred income 327,107 553,959
2,563,023 2,939,178

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,745,798 Ordinary shares 1 2,745,798 2,745,798

13. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 July 2023 (799,215 ) 6,329,250 250 5,530,285
Profit for the year 207,551 207,551
At 30 June 2024 (591,664 ) 6,329,250 250 5,737,836

NICHEBOX UK LIMITED (REGISTERED NUMBER: 01384942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


14. PENSION COMMITMENTS

The Company had outstanding pension contributions of £ 6,306.91 (2023: £ nil) at the year end.

15. RELATED PARTY DISCLOSURES

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.

The company performed the following related party transactions during the current fiscal year.

Liquides Imaginaires France SAS - Net debtor balance due (Asset) - £1,494,902 (2023: £1,084,598).
(Associate)

Skinbox S.R.L - Net debtor balance due (Asset) - £7,352 (2023: £7,352).
(Associate)

Cosmetic Brands S.R.L - Net debtor balance due (Asset) - £81,000 (2023: £37,352).
(Associate)

16. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Nichebox S.R.L, a company incorporated in Italy. In the opinion of the director, there is no single controlling party.

The smallest group in to which the results of the company are consolidated at 30 June 2024 is that headed by Nichebox S.R.L, a company incorporated in Italy. The consolidated accounts for this entity will be available to the public and may be obtained from Via Turati Filippo, 29, 20121, Italy.