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REGISTERED NUMBER: 03571121 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Nico (UK) Limited

Nico (UK) Limited (Registered number: 03571121)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nico (UK) Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: G G Nico
A U Nunzi





SECRETARY: A U Nunzi





REGISTERED OFFICE: 94 Orchard Gate
Greenford
Middlesex
UB6 0QP





REGISTERED NUMBER: 03571121 (England and Wales)

Nico (UK) Limited (Registered number: 03571121)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,064 8,311
Investments 5 15,210 15,210
25,274 23,521

CURRENT ASSETS
Debtors 6 92,032 127,832
Cash at bank and in hand 90,839 96,982
182,871 224,814
CREDITORS
Amounts falling due within one year 7 164,237 181,604
NET CURRENT ASSETS 18,634 43,210
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,908

66,731

CREDITORS
Amounts falling due after more than one
year

8

(40,223

)

(53,232

)

PROVISIONS FOR LIABILITIES (2,332 ) (1,725 )
NET ASSETS 1,353 11,774

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,253 11,674
SHAREHOLDERS' FUNDS 1,353 11,774

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Nico (UK) Limited (Registered number: 03571121)

Balance Sheet - continued
31 July 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by:





G G Nico - Director


Nico (UK) Limited (Registered number: 03571121)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Nico (UK) Limited 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 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 year 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.

Pension costs
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.

Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Nico (UK) Limited (Registered number: 03571121)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 104,629
Additions 3,883
At 31 July 2024 108,512
DEPRECIATION
At 1 August 2023 96,318
Charge for year 2,130
At 31 July 2024 98,448
NET BOOK VALUE
At 31 July 2024 10,064
At 31 July 2023 8,311

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2023
and 31 July 2024 15,210
NET BOOK VALUE
At 31 July 2024 15,210
At 31 July 2023 15,210

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 40,715 600
Amounts owed by group undertakings 27,762 120,936
Other debtors 23,555 6,296
92,032 127,832

Nico (UK) Limited (Registered number: 03571121)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 15,746 15,430
Trade creditors 63,991 22,143
Amounts owed to group undertakings - 57,358
Taxation and social security 54,384 54,725
Other creditors 30,116 31,948
164,237 181,604

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 40,223 53,232

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,402 11,164

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.24 31.7.23
£    £   
Within one year 41,680 39,627
Between one and five years 130,199 72,577
171,879 112,204

10. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans and overdrafts 37,002 39,664

The company's bank loans and overdraft facility are secured over the assets of the company.

11. ULTIMATE PARENT COMPANY AND CONTROLLING PARTY

Nico & Nunzi (Holdings) Limited (incorporated in England) is regarded by the directors as being the company's ultimate parent company.

The ultimate controlling parties are Mr G Nico and Mr A Nunzi.