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REGISTERED NUMBER: 04914942 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

FOR

NIZA ENTERPRISES LTD

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 14

Cash Flow Statement 15

Notes to the Cash Flow Statement 16

Notes to the Financial Statements 18


NIZA ENTERPRISES LTD

COMPANY INFORMATION
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024







DIRECTOR: V Ragunathan





SECRETARY: Mrs S Ragunathan





REGISTERED OFFICE: 15 The Gallop
Sutton
United Kingdom
Surrey
SM2 5RU





REGISTERED NUMBER: 04914942 (England and Wales)





AUDITORS: Param & Company Ltd
Chartered Certified Accountants
Statutory Auditors
1st Floor
44 - 50 The Broadway
Southall
Middlesex
UB1 1QB

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

STRATEGIC REPORT
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

The director presents his strategic report for the period 1 July 2023 to 31 May 2024.

The Strategic report contains forward-looking statements, which have been made in good faith by the Directors based on information available up to the point of approval of this report. Therefore, there are inherent uncertainties involved in making these statements, including both economic and business risk factors.

REVIEW OF BUSINESS

The results for the year and the financial position of the Company are shown in the annexed financial statements.

Turnover of the business for the eleven months ended 31 May 2024 amounted to £17,758,110
(2023 (6 months): £10,174,179).

The overall gross profit for the eleven month period was £4,639,644 (2023 (6 months): £2,802,194).

Gross profit to turnover ratio (margin) was 26.12% (2023: 27.54%). The decrease in gross profit margin by 1.42% was due to price management.

The net assets/(net liability) position at the year-end was £ 350,817 (2023 : £991,415).

Despite growing competition in the retail trade, the Company has maintained its share of the local market mainly due to strong demand for the Co-op brand of products.

During the year, management have undertaken the following initiatives to improve business performance and more effectively utilize its asset base and capital:

- Establishing an effective operational management team by providing clear direction, reporting lines, responsibilities and accountability's.

- The working shift pattern of all the retail staff has been charged to be consistent across all sites and so increase efficiency.

- Clear targets for each business area identified and communicated and formal staff appraisal process identified, documented and put into place. This has resulted in significantly increased staff engagement leading to local and business wide efficiency, margin and cost improvement initiatives.

Going concern

The Directors are confident that the company has adequate resources to continue operational existence for the foreseeable future. In consideration of going concern, the Directors continually review the Company's future cashflow forecasts and profit projections, on both a base case and sensitized basis, considering the principal risks and uncertainties that may arise. These forecasts have been prepared based on market data, experience trading within the sector and anticipated future trading. There is nothing to indicate from these forecasts, that the Company would not be able to continue successfully as a Going Concern in the future.

Post balance sheet events

After the financial year-end, the company disposed of 10 loss-making retail stores in order to streamline its operations and increase profitability. The directors have assessed this event and confirm that:
1. It does not materially affect the company's financial position as presented in these statements.
2. It does not impair the entity's ability to continue as a going concern.
The financial impact of this disposal will be reflected in the next year's financial statements.


NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

STRATEGIC REPORT
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The directors have given sufficient consideration to emerging risks and to any changes in the internal or external environment that could impact the strategy and how the stores operate. The company accounts, strategies and cashflow statement have been reviewed and has been confirmed that the company has adequate resources in order to trade for a foreseeable future adopting the going-concern basis in the financial statements.

The company also face a competitive environment among the other Coop stores that operate in the economic environment with similar business. The company has confronted an increase in the number of employees due to acquisitions, however, the company has taken all steps possible to ensure the safety of the employees.

Among the challenges faced by the company in the macro-economic environment, we feel we are in good position to maximise the opportunity that will inevitably materialise through the growth of the economy.

ON BEHALF OF THE BOARD:





Director


27 February 2025

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

REPORT OF THE DIRECTOR
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

The director presents his report with the financial statements of the company for the period 1 July 2023 to 31 May 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of general grocery and off licence.

DIVIDENDS
No interim dividend was paid during the period. The director recommends a final dividend of 61,069.5 per share.

The total distribution of dividends for the period ended 31 May 2024 will be £ 122,139 .

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

POLITICAL DONATIONS AND EXPENDITURE
No political donations.

DIRECTOR'S RESPONSIBILITIES STATEMENT
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;
-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.

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

REPORT OF THE DIRECTOR
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024


AUDITORS
The auditors, Param & Company Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





V Ragunathan - Director


27 February 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NIZA ENTERPRISES LTD

Opinion
We have audited the financial statements of Niza Enterprises Ltd (the 'company') for the period ended 31 May 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 31 May 2024 and of its loss for the period 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
NIZA ENTERPRISES LTD


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 Director's Responsibilities Statement set out on page four, 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.

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:

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 recognize 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 care home 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 the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;

* we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

* identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NIZA ENTERPRISES LTD


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; and

* 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 set out in note 2 were indicative of potential bias; and

*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;

*reading the minutes of meetings of those charged with governance;

*enquiring of management as to actual and potential litigation and claims; and

*reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

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.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NIZA ENTERPRISES LTD


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.




S paramaguru (Senior Statutory Auditor)
for and on behalf of Param & Company Ltd
Chartered Certified Accountants
Statutory Auditors
1st Floor
44 - 50 The Broadway
Southall
Middlesex
UB1 1QB

27 February 2025

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

INCOME STATEMENT
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

Period Period
1.7.23 1.1.23
to to
31.5.24 30.6.23
Notes £    £   

TURNOVER 17,758,110 10,174,179

Cost of sales 13,118,466 7,371,985
GROSS PROFIT 4,639,644 2,802,194

Administrative expenses 5,308,250 2,709,934
(668,606 ) 92,260

Other operating income 307,400 112,239
OPERATING (LOSS)/PROFIT 4 (361,206 ) 204,499


Interest payable and similar expenses 5 104,838 56,175
(LOSS)/PROFIT BEFORE TAXATION (466,044 ) 148,324

Tax on (loss)/profit 6 52,415 242,106
LOSS FOR THE FINANCIAL PERIOD (518,459 ) (93,782 )

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

OTHER COMPREHENSIVE INCOME
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

Period Period
1.7.23 1.1.23
to to
31.5.24 30.6.23
Notes £    £   

LOSS FOR THE PERIOD (518,459 ) (93,782 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

(518,459

)

(93,782

)

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 1,857,787 2,093,187
Tangible assets 9 2,467,793 2,650,346
4,325,580 4,743,533

CURRENT ASSETS
Stocks 10 1,072,100 1,431,962
Debtors 11 2,476,754 2,059,259
Cash at bank and in hand 392,554 448,472
3,941,408 3,939,693
CREDITORS
Amounts falling due within one year 12 6,613,025 5,968,932
NET CURRENT LIABILITIES (2,671,617 ) (2,029,239 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,653,963

2,714,294

CREDITORS
Amounts falling due after more than one year 13 (1,128,158 ) (1,600,306 )

PROVISIONS FOR LIABILITIES 17 (174,988 ) (122,573 )
NET ASSETS 350,817 991,415

CAPITAL AND RESERVES
Called up share capital 18 2 2
Fair value reserve 19 275,000 275,000
Retained earnings 19 75,815 716,413
SHAREHOLDERS' FUNDS 350,817 991,415

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

BALANCE SHEET - continued
31 MAY 2024



The financial statements were approved by the director and authorised for issue on 27 February 2025 and were signed by:





V Ragunathan - Director


NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

Called up Fair
share Retained value Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 January 2023 2 892,726 275,000 1,167,728

Changes in equity
Dividends - (82,531 ) - (82,531 )
Total comprehensive income - (93,782 ) - (93,782 )
Balance at 30 June 2023 2 716,413 275,000 991,415

Changes in equity
Dividends - (122,139 ) - (122,139 )
Total comprehensive income - (518,459 ) - (518,459 )
Balance at 31 May 2024 2 75,815 275,000 350,817

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

CASH FLOW STATEMENT
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

Period Period
1.7.23 1.1.23
to to
31.5.24 30.6.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 555,371 680,175
Interest paid (79,908 ) (40,804 )
Interest element of finance lease payments
paid

(24,930

)

(15,371

)
Tax paid 18,112 -
Net cash from operating activities 468,645 624,000

Cash flows from investing activities
Purchase of intangible fixed assets - (157,044 )
Purchase of tangible fixed assets (59,948 ) (631,185 )
Sale of tangible fixed assets - 137,750
Net cash from investing activities (59,948 ) (650,479 )

Cash flows from financing activities
Loan repayments in year (118,070 ) (101,665 )
Capital repayments in year (309,447 ) 379,729
Amounts Owed by/to Group and Associates 85,041 (82,621 )
Equity dividends paid (122,139 ) (82,531 )
Net cash from financing activities (464,615 ) 112,912

(Decrease)/increase in cash and cash equivalents (55,918 ) 86,433
Cash and cash equivalents at beginning of
period

2

448,472

362,039

Cash and cash equivalents at end of period 2 392,554 448,472

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

Period Period
1.7.23 1.1.23
to to
31.5.24 30.6.23
£    £   
(Loss)/profit before taxation (466,044 ) 148,324
Depreciation charges 477,902 256,659
Finance costs 104,838 56,175
116,696 461,158
Decrease/(increase) in stocks 359,862 (234,430 )
Decrease in trade and other debtors 298,903 68,823
(Decrease)/increase in trade and other creditors (220,090 ) 384,624
Cash generated from operations 555,371 680,175

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 31 May 2024
31.5.24 1.7.23
£    £   
Cash and cash equivalents 392,554 448,472
Period ended 30 June 2023
30.6.23 1.1.23
£    £   
Cash and cash equivalents 448,472 362,039


NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.7.23 Cash flow At 31.5.24
£    £    £   
Net cash
Cash at bank and in hand 448,472 (55,918 ) 392,554
448,472 (55,918 ) 392,554
Debt
Finance leases (711,615 ) 309,447 (402,168 )
Debts falling due within 1 year (93,935 ) (25,340 ) (119,275 )
Debts falling due after 1 year (1,097,586 ) 143,409 (954,177 )
(1,903,136 ) 427,516 (1,475,620 )
Total (1,454,664 ) 371,598 (1,083,066 )

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

1. STATUTORY INFORMATION

Niza Enterprises Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The Directors are confident that the company has adequate resources to continue operational existence for the foreseeable future. In consideration of going concern, the Directors continually review the Company's future cashflow forecasts and profit projections, on both a base case and sensitized basis, considering the principal risks and uncertainties that may arise. These forecasts have been prepared based on market data, experience trading within the sector and anticipated future trading. There is nothing to indicate from these forecasts, that the Company would not be able to continue successfully as a Going Concern in the future.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, which are described in note 1, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. actual results may differ from these estimates.

The estimates are underlying assumptions are review on an ongoing bias. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have significant effect on the amounts recognised in the financial statements are described below.

1. Estimate the useful lives of tangible and intangible assets for depreciation and amortisation purposes.

2. Determine whether the leases entered into by the company are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease-by-lease basis.

3. Determine whether there are indicators of impairment of the company's tangible and intangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.

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

Sales of goods
Revenue is recognised when the significant risks and rewards of ownership of the goods have transferee to the buyer, it is probable that economic benefits will flow to the company, the associated costs can be measured reliably, there is no continuing managerial involvement with the goods, and the amount of revenue can be measured reliably. Due to the nature of the products sold, the company does not experience material levels of return.

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Equal inst over the period of lease
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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 tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and 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.

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.

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

3. EMPLOYEES AND DIRECTORS
Period Period
1.7.23 1.1.23
to to
31.5.24 30.6.23
£    £   
Wages and salaries 2,587,650 1,420,233
Social security costs 196,215 97,971
Other pension costs 25,304 17,817
2,809,169 1,536,021

The average number of employees during the period was as follows:
Period Period
1.7.23 1.1.23
to to
31.5.24 30.6.23

Directors 1 1
Employees 129 176
130 177

Period Period
1.7.23 1.1.23
to to
31.5.24 30.6.23
£    £   
Director's remuneration 12,000 6,000

4. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

Period Period
1.7.23 1.1.23
to to
31.5.24 30.6.23
£    £   
Hire of plant and machinery 52,726 3,022
Depreciation - owned assets 242,501 132,186
Goodwill amortisation 235,400 124,473
Auditors' remuneration 25,000 6,000

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period Period
1.7.23 1.1.23
to to
31.5.24 30.6.23
£    £   
Bank loan interest 79,908 40,804
Hire purchase 24,930 15,371
104,838 56,175

6. TAXATION

Analysis of the tax charge
The tax charge on the loss for the period was as follows:
Period Period
1.7.23 1.1.23
to to
31.5.24 30.6.23
£    £   
Current tax:
UK corporation tax - (99,422 )
Taxation (Under or over) - 218,955
Total current tax - 119,533

Deferred tax 52,415 122,573
Tax on (loss)/profit 52,415 242,106

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period Period
1.7.23 1.1.23
to to
31.5.24 30.6.23
£    £   
(Loss)/profit before tax (466,044 ) 148,324
(Loss)/profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 22%)

(116,511

)

32,631

Effects of:
Capital allowances in excess of depreciation - (56,782 )
Depreciation in excess of capital allowances 96,537 -
Adjustments to tax charge in respect of previous periods - 119,533
Deferred Tax 52,415 122,573
Loss carried forwaed 19,974 24,151
Total tax charge 52,415 242,106

7. DIVIDENDS
Period Period
1.7.23 1.1.23
to to
31.5.24 30.6.23
£    £   
Ordinary shares of 1 each
Final 122,139 82,531

8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 31 May 2024 2,567,998
AMORTISATION
At 1 July 2023 474,811
Amortisation for period 235,400
At 31 May 2024 710,211
NET BOOK VALUE
At 31 May 2024 1,857,787
At 30 June 2023 2,093,187

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

9. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 July 2023 1,149,477 737,520 1,948,358 3,835,355
Additions - 41,798 18,150 59,948
At 31 May 2024 1,149,477 779,318 1,966,508 3,895,303
DEPRECIATION
At 1 July 2023 296,037 247,065 641,907 1,185,009
Charge for period 47,894 73,185 121,422 242,501
At 31 May 2024 343,931 320,250 763,329 1,427,510
NET BOOK VALUE
At 31 May 2024 805,546 459,068 1,203,179 2,467,793
At 30 June 2023 853,440 490,455 1,306,451 2,650,346

Included within the net book value of £ 719,455 (2023:£792,061) is relating to assets held under finance lease and hire purchase agreements.These are all within the fixtures and fittings category.The depreciation charged to the financial statements in the year in respect of such assets amounted to £ 72,606 (2023: £41,687)

10. STOCKS
2024 2023
£    £   
Finished goods 1,072,100 1,431,962

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 92,771 92,420
Amounts owed by associates 1,965,895 1,231,385
Other debtors 130,177 361,980
Tax 81,310 99,422
Prepayments and accrued income 206,601 274,052
2,476,754 2,059,259

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 14) 119,275 93,935
Finance leases (see note 15) 228,187 208,895
Trade creditors 1,127,653 1,077,429
Amounts owed to associates 4,944,308 4,124,757
Social security and other taxes 129,737 245,235
Pension Fund 11,778 10,145
Other Deductions-Payroll - 13,864
VAT 17,192 11,429
Net Wages 3,259 3,314
Other Creditors 3,852 30,305
Accruals and deferred income 27,784 149,624
6,613,025 5,968,932

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 14) 954,177 1,097,586
Finance leases (see note 15) 173,981 502,720
1,128,158 1,600,306

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 119,275 93,935

Amounts falling due between two and five years:
Bank loans - 2-5 years 954,177 1,097,586

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

15. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year 228,187 208,895
Between one and five years 173,981 502,720
402,168 711,615

16. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,073,452 1,191,521

The bank loan is for a term of 5 years from draw down and at an interest of 2.45% over Base Rate.
The loan is secured by a debenture covering fixed and floating charge over all assets of the company.

17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 174,988 122,573

Deferred
tax
£   
Balance at 1 July 2023 122,573
Provided during period 52,415
Balance at 31 May 2024 174,988

18. CALLED UP SHARE CAPITAL

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

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

19. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 July 2023 716,413 275,000 991,413
Deficit for the period (518,459 ) (518,459 )
Dividends (122,139 ) (122,139 )
At 31 May 2024 75,815 275,000 350,815

NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

20. RELATED PARTY DISCLOSURES

The following companies are related parties by virtue of common director.

Included within creditors falling due to the company within one year are amounts owed to the following companies in which Mr Ragunathan participating interest.

2024 2023
£ £
Niza Superstores (Eastbourne) Ltd
A company in which Mr Ragunathan is Director and shareholders.
Amount due to related party is interest free & unsecured Loans.

Amount due to / (from) related party at the balance sheet date 1,943,239 1,249,521
====== ======

Niza Southwater Ltd
A company in which Mr Ragunathan is Director and shareholders.
Amount due to related party is interest free & unsecured Loans.

Amount due to / (from) related party at the balance sheet date 1,235,641 1,099,062
====== ======

Threeways Petrol Station Ltd
A company in which Mr Ragunathan is Director and shareholders.
Amount due to related party is interest free & unsecured Loans.

Amount due to / (from) related party at the balance sheet date (196,634 ) (202,249 )
====== ======

Niza Forecourt Ltd
A company in which Mr Ragunathan is Director and shareholders.
Amount due to related party is interest free & unsecured Loans.

Amount due to / (from) related party at the balance sheet date 1,765,428 1,776,174
====== ======

Niza Construction Ltd
A company in which Mr Ragunathan is Director and shareholders.
Amount due to related party is interest free & unsecured Loans.

Amount due to / (from) related party at the balance sheet date (7,882 ) (1,029,136 )
====== ======


Niza Retail Ltd
A company in which Mr Ragunathan is Director and shareholders.
Amount due from related party is interest free & unsecured Loans.

Amount due to / (from) related party at the balance sheet date (1,761,379 ) -
====== ======


NIZA ENTERPRISES LTD (REGISTERED NUMBER: 04914942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2023 TO 31 MAY 2024

21. CONTROLLING PARTY

Mr V Ragunathan and Mrs S Ragunathan controls the entire issued share capital of the company.