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Company Registration No. 03001118 (England and Wales)
Niche Frames Europe Limited Unaudited accounts for the year ended 31 May 2024
Niche Frames Europe Limited Unaudited accounts Contents
Page
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Niche Frames Europe Limited Company Information for the year ended 31 May 2024
Directors
Piotr Henryk Bilecki Joseph Brewerton Rupert Patrick Morley
Company Number
03001118 (England and Wales)
Registered Office
Venta House 9a Port Road, Maesglas Retail Park Newport NP20 2NS
Accountants
Evans Entwistle Office 12a Equinox South, Great Park Road Bradley Stoke Bristol BS32 4QL
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Niche Frames Europe Limited for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Niche Frames Europe Limited for the year ended 31 May 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice Office 12a Equinox South, Great Park Road Bradley Stoke Bristol BS32 4QL 21 February 2025
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Niche Frames Europe Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
112,551 
100,969 
Current assets
Inventories
90,000 
82,000 
Debtors
82,160 
93,908 
Cash at bank and in hand
38,773 
101,498 
210,933 
277,406 
Creditors: amounts falling due within one year
(192,763)
(172,252)
Net current assets
18,170 
105,154 
Total assets less current liabilities
130,721 
206,123 
Creditors: amounts falling due after more than one year
(5,086)
(32,027)
Provisions for liabilities
Deferred tax
(13,302)
(10,554)
Net assets
112,333 
163,542 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
112,233 
163,442 
Shareholders' funds
112,333 
163,542 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by
Joseph Brewerton Director Company Registration No. 03001118
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Niche Frames Europe Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Niche Frames Europe Limited is a private company, limited by shares, registered in England and Wales, registration number 03001118. The registered office is Venta House, 9a Port Road, Maesglas Retail Park, Newport, NP20 2NS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10 years straight line
Motor vehicles
5 years straight line
Fixtures & fittings
10 years straight line
Computer equipment
5 years straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Niche Frames Europe Limited Notes to the Accounts for the year ended 31 May 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 June 2023
20,009 
101,120 
16,012 
43,559 
66,795 
247,495 
Additions
- 
30,744 
- 
- 
2,563 
33,307 
At 31 May 2024
20,009 
131,864 
16,012 
43,559 
69,358 
280,802 
Depreciation
At 1 June 2023
- 
54,932 
11,429 
22,552 
57,613 
146,526 
Charge for the year
- 
12,107 
3,203 
4,007 
2,408 
21,725 
At 31 May 2024
- 
67,039 
14,632 
26,559 
60,021 
168,251 
Net book value
At 31 May 2024
20,009 
64,825 
1,380 
17,000 
9,337 
112,551 
At 31 May 2023
20,009 
46,188 
4,583 
21,007 
9,182 
100,969 
5
Inventories
2024 
2023 
£ 
£ 
Finished goods
90,000 
82,000 
90,000 
82,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
60,776 
68,961 
Amounts due from group undertakings etc.
421 
- 
Accrued income and prepayments
5,886 
14,143 
Other debtors
15,077 
10,804 
82,160 
93,908 
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Niche Frames Europe Limited Notes to the Accounts for the year ended 31 May 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,286 
23,305 
VAT
45,078 
54,201 
Obligations under finance leases and hire purchase contracts
3,415 
- 
Trade creditors
109,953 
63,042 
Amounts owed to group undertakings and other participating interests
- 
198 
Taxes and social security
20,363 
26,994 
Other creditors
1,168 
2,012 
Accruals
2,500 
2,500 
192,763 
172,252 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
629 
30,065 
Obligations under finance leases and hire purchase contracts
1,914 
- 
Other creditors
2,543 
1,962 
5,086 
32,027 
9
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
13,302 
10,554 
2024 
2023 
£ 
£ 
Provision at start of year
10,554 
- 
Charged to the profit and loss account
2,748 
10,554 
Provision at end of year
13,302 
10,554 
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Niche Frames Europe Limited Notes to the Accounts for the year ended 31 May 2024
11
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Piotr Henryk Bilecki
General loan outstanding
2,513 
- 
- 
2,513 
Joseph Brewerton
General loan outstanding
3,381 
65 
- 
3,446 
5,894 
65 
- 
5,959 
The balances represent the balances on interest free loans that are outstanding at the balance sheet date that are repayable to the company upon demand.
12
Average number of employees
During the year the average number of employees was 23 (2023: 25).
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