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REGISTERED NUMBER: 03232782 (England and Wales)


















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Nicomatic (UK) Limited

Nicomatic (UK) Limited (Registered number: 03232782)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nicomatic (UK) Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: Mr M J Gilbert





SECRETARY: Mrs R E Gilbert





REGISTERED OFFICE: Brigham House
93 High Street
Biggleswade
Bedfordshire
SG18 0LD





REGISTERED NUMBER: 03232782 (England and Wales)





ACCOUNTANTS: George Hay Partnership LLP
Chartered Accountants
Brigham House
High Street
Biggleswade
Bedfordshire
SG18 0LD

Nicomatic (UK) Limited (Registered number: 03232782)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 48,660 60,894
Investments 6 13,251 13,251
61,911 74,145

CURRENT ASSETS
Stocks 404,138 491,538
Debtors 7 350,777 357,732
Cash at bank 215,190 162,958
970,105 1,012,228
CREDITORS
Amounts falling due within one year 8 620,115 638,767
NET CURRENT ASSETS 349,990 373,461
TOTAL ASSETS LESS CURRENT
LIABILITIES

411,901

447,606

CREDITORS
Amounts falling due after more than one
year

9

(42,037

)

(64,032

)

PROVISIONS FOR LIABILITIES (10,810 ) (10,451 )
NET ASSETS 359,054 373,123

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 349,054 363,123
359,054 373,123

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Nicomatic (UK) Limited (Registered number: 03232782)

Balance Sheet - continued
31 August 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 director and authorised for issue on 2 June 2025 and were signed by:





Mr M J Gilbert - Director


Nicomatic (UK) Limited (Registered number: 03232782)

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

1. STATUTORY INFORMATION

Nicomatic (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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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 measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Turnover from the sale of electrical components is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the dispatch of the goods.

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 - 50% on cost and 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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 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.


Nicomatic (UK) Limited (Registered number: 03232782)

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

3. ACCOUNTING POLICIES - continued
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.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 12 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2023 99,460 54,056 86,827 240,343
Additions 1,803 2,691 - 4,494
At 31 August 2024 101,263 56,747 86,827 244,837
DEPRECIATION
At 1 September 2023 96,322 48,570 34,557 179,449
Charge for year 2,177 1,483 13,068 16,728
At 31 August 2024 98,499 50,053 47,625 196,177
NET BOOK VALUE
At 31 August 2024 2,764 6,694 39,202 48,660
At 31 August 2023 3,138 5,486 52,270 60,894

Nicomatic (UK) Limited (Registered number: 03232782)

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

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2023
and 31 August 2024 13,251
NET BOOK VALUE
At 31 August 2024 13,251
At 31 August 2023 13,251

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 29,216 17,621
Other debtors 321,561 340,111
350,777 357,732

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 11,986 11,986
Trade creditors 349,093 370,406
Taxation and social security 36,734 50,785
Other creditors 212,302 195,590
620,115 638,767

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 9,089 19,098
Hire purchase contracts 32,948 44,934
42,037 64,032

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £98,758 (2023 - £39,248).