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REGISTERED NUMBER: 11084838 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Group Nivelles Ltd

Group Nivelles Ltd (Registered number: 11084838)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Group Nivelles Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTOR: B L M Nivelles





SECRETARY: MYUKOFFICE LTD





REGISTERED OFFICE: Westwood House
Annie Med Lane
South Cave
East Yorkshire
HU15 2HG





REGISTERED NUMBER: 11084838 (England and Wales)





ACCOUNTANTS: Try Lunn & Co
Chartered Accountants
Roland House
Princes Dock Street
Hull
HU1 2LD

Group Nivelles Ltd (Registered number: 11084838)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 380 574

CURRENT ASSETS
Debtors 5 60,981 51,557
Cash at bank 11,702 35,511
72,683 87,068
CREDITORS
Amounts falling due within one year 6 126,798 220,233
NET CURRENT LIABILITIES (54,115 ) (133,165 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(53,735

)

(132,591

)

CAPITAL AND RESERVES
Called up share capital 7 75,000 75,000
Retained earnings 8 (128,735 ) (207,591 )
SHAREHOLDERS' FUNDS (53,735 ) (132,591 )

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

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

The director acknowledges his 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.

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 director and authorised for issue on 16 April 2025 and were signed by:





B L M Nivelles - Director


Group Nivelles Ltd (Registered number: 11084838)

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

1. STATUTORY INFORMATION

Group Nivelles 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company is reliant on the financial support of its parent company Victor BV and Group Nivelles NV. The directors of Victor BV and Group Nivelles NV have agreed to provide continued financial support to ensure the company will be able to trade as a going concern for the foreseeable future.

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 is recognised at the point of delivery of the goods to customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 25% on 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Group Nivelles Ltd (Registered number: 11084838)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 1,743
DEPRECIATION
At 1 January 2024 1,169
Charge for year 194
At 31 December 2024 1,363
NET BOOK VALUE
At 31 December 2024 380
At 31 December 2023 574

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 49,132 28,219
Other debtors 11,849 23,338
60,981 51,557

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 114,829 165,353
Amounts owed to group undertakings - 45,047
Taxation and social security 9,434 7,228
Other creditors 2,535 2,605
126,798 220,233

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
75,000 Ordinary £1 75,000 75,000

Group Nivelles Ltd (Registered number: 11084838)

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

8. RESERVES
Retained
earnings
£   

At 1 January 2024 (207,591 )
Profit for the year 78,856
At 31 December 2024 (128,735 )

9. RELATED PARTY DISCLOSURES

During the period Group Nivelles NV, a company that the director B L M Nivelles is also a director and shareholder of, received £7,301 as a loan repayment from the company (2023 - £nil). The amount still outstanding at 31 December 2024 is £nil (2023 - £9,545). A market rate of interest is charged on the loan, and it is repayable on demand.

During the period Victor NV, the parent company, received £35,502 as a loan repayment from the company (2023 - £nil). The amount still outstanding at 31 December 2024 is £nil (2023 - £35,502). A market rate of interest is charged on the loan, and it is repayable on demand.

During the period the company made purchases of goods and services on normal commercial terms from Group Nivelles NV totalling £227,133 (2023 - £137,600). At the balance sheet date an amount of £113,874 (2023 - £165,072) was due to Group Nivelles NV.

During the period the company provided services on normal commercial terms to Group Nivelles NV totalling £6,424 (2023 - £12,357). At the balance sheet date an amount of £12,892 (2023 - £12,357) was due from Group Nivelles NV.

During the period the company received management services from Victor NV totalling £2,910 (2023 - £2,763). At the balance sheet date an amount of £nil (2023 - £230) was due to Victor NV.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is B L M Nivelles.