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Registered Number: 11371357
England and Wales

 

 

 

NIKSON UK LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Director Mr N K Shah
Registered Number 11371357
Registered Office 1 Manor Road
Droylsden
Manchester
M43 6QA
Accountants IAC Accountants Limited
Regal Court Business Centre
42-44 High Street, Slough
England
SL1 1EL
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 4,583    5,583 
Tangible fixed assets 4   2,100 
4,583    7,683 
Current assets      
Stocks 5 44,372    41,203 
Debtors: amounts falling due within one year 6 5,332    100 
Cash at bank and in hand 7,614    9,967 
57,318    51,270 
Creditors: amount falling due within one year 7 (84,518)   (81,726)
Net current assets (27,200)   (30,456)
 
Total assets less current liabilities (22,617)   (22,773)
Creditors: amount falling due after more than one year 8 (23,444)   (22,921)
Net assets (46,061)   (45,694)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (46,161)   (45,794)
Shareholders' funds (46,061)   (45,694)
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 25 February 2025 and were signed by:


-------------------------------
Mr N K Shah
Director
2
General Information
Nikson UK Limited is a private company, limited by shares, registered in England and Wales, registration number 11371357, registration address 1 Manor Road, Droylsden, Manchester , M43 6QA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
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:
Plant and Machinery 5 years Straight Line
Fixtures and Fittings 5 years Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 June 2023 10,000    10,000 
Additions  
Disposals  
At 31 May 2024 10,000    10,000 
Amortisation
At 01 June 2023 4,417    4,417 
Charge for year 1,000    1,000 
On disposals  
At 31 May 2024 5,417    5,417 
Net book values
At 31 May 2024 4,583    4,583 
At 31 May 2023 5,583    5,583 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 June 2023 1,000    17,000    18,000 
Additions    
Disposals    
At 31 May 2024 1,000    17,000    18,000 
Depreciation
At 01 June 2023 883    15,017    15,900 
Charge for year 117    1,983    2,100 
On disposals    
At 31 May 2024 1,000    17,000    18,000 
Net book values
Closing balance as at 31 May 2024    
Opening balance as at 01 June 2023 117    1,983    2,100 


5.

Stocks

2024
£
  2023
£
Finished Goods 44,372    41,203 
44,372    41,203 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 5,232   
Other Debtors 100    100 
5,332    100 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 1,229    10,073 
Bank Loans & Overdrafts 5,134    9,584 
Accrued Expenses 11,084   
Other Creditors 16,367    17,842 
Directors' Current Accounts 47,918    43,090 
VAT 2,786    1,137 
84,518    81,726 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 23,444    22,921 
23,444    22,921 

9.

Related party Transactions

Creditors due within one year include an interest free amount of £47,918 (2023: £43,090) due to the director. This loan is repayable on demand.
3