Company Registration No. 13404137 (England and Wales)
SIX BY NICO (ENGLISH PROPCO) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
SIX BY NICO (ENGLISH PROPCO) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
SIX BY NICO (ENGLISH PROPCO) LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Cash at bank and in hand
1
1
Net current assets
1
1
Capital and reserves
Called up share capital
3
1
1
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 17 December 2024 and are signed on its behalf by:
N Simeone
Director
Company Registration No. 13404137
SIX BY NICO (ENGLISH PROPCO) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information
Six by Nico (English Propco) Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The registered office is C/o Johnston Carmichael, Birchin Court, 20 Birchin Lane, London, United Kingdom, EC3V 9DU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company’s intermediate parent company Sixco P.L.C. has provided a guarantee in order for the company to be a qualifying subsidiary for the purposes of section 479A of the Companies Act 2006. The company has therefore taken exemption from the requirement of an audit of these financial statements.
1.2
Profit and loss account
In the current and prior year the company did not receive any income or incur expenditure, therefore, no profit and loss account is presented in these financial statements.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
SIX BY NICO (ENGLISH PROPCO) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The company had no employees in the current or prior period.
3
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
4
Financial commitments, guarantees and contingent liabilities
Six by Nico (English Propco) Limited is party to a cross corporate guarantee in respect of certain group borrowings. At 30 June 2024, the contingent liability under this arrangement amounted to £12,255,407 (2023 - £4,589,878).The guarantee is secured by a floating charge over the company's assets.
5
Parent company
The company's immediate parent company is Six by Nico (Holdings) Limited. Sixco P.L.C., an intermediate parent company, is the smallest group of companies in which Six by Nico (English Propco) Limited is included in the consolidated accounts.
The ultimate parent company is VVS Investments Limited, which is controlled by N C Simeone, director, by virtue of his interest in its issued share capital. VVS investments Limited is the largest group of companies in which Six by Nico (English Propco) Limited is included in the consolidated accounts.
Group accounts for the above entities can be obtained from the Companies House online register at https://www.gov.uk/government/organisations/companies-house.