2023-10-01 06315319 2024-09-30 06315319 2023-10-01 2024-09-30 06315319 2023-09-30 06315319 2022-10-01 2023-09-30 06315319 uk-core:WithinOneYear 2023-09-30 06315319 uk-core:WithinOneYear 2024-09-30 06315319 uk-core:ShareCapital 2024-09-30 06315319 uk-core:ShareCapital 2023-09-30 06315319 uk-core:RetainedEarningsAccumulatedLosses 2024-09-30 06315319 uk-core:RetainedEarningsAccumulatedLosses 2023-09-30 06315319 uk-bus:Director1 2023-10-01 2024-09-30 06315319 uk-core:NetGoodwill 2023-10-01 2024-09-30 06315319 uk-core:LeaseholdImprovements 2023-10-01 2024-09-30 06315319 uk-core:PlantMachinery 2023-10-01 2024-09-30 06315319 uk-core:CommercialMotorVehicles 2023-10-01 2024-09-30 06315319 uk-core:FurnitureFittings 2023-10-01 2024-09-30 06315319 uk-core:FurnitureFittings 2023-09-30 06315319 uk-core:CommercialMotorVehicles 2023-09-30 06315319 uk-core:PlantMachinery 2023-09-30 06315319 uk-core:LeaseholdImprovements 2023-09-30 06315319 uk-core:PlantMachinery 2024-09-30 06315319 uk-core:CommercialMotorVehicles 2024-09-30 06315319 uk-core:FurnitureFittings 2024-09-30 06315319 uk-core:LeaseholdImprovements 2024-09-30 iso4217:GBP xbrli:pure 06315319 uk-bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 06315319 uk-bus:FRS102 2023-10-01 2024-09-30 06315319 uk-bus:FilletedAccounts 2023-10-01 2024-09-30 06315319 uk-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30
Niwaki Ltd
Registered Number:06315319
For the year ended 30 September 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 30 September 2024
Niwaki Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
06315319
As at 30 September 2024
Niwaki Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
314,047
270,800
2
314,047
270,800
Current assets
Inventories
2,391,146
2,621,555
3
Trade and other receivables
401,929
391,341
4
1,213,962
Cash and cash equivalents
1,557,687
4,570,583
4,007,037
Trade and other payables: amounts falling due within one
year
(822,351)
(841,071)
5
3,184,686
3,729,512
Net current assets
Total assets less current liabilities
4,043,559
3,455,486
(54,764)
(31,053)
Provisions for liabilities
3,988,795
Net assets
3,424,433
Capital and reserves
Called up share capital
198
196
Retained earnings
3,988,597
3,424,237
3,988,795
3,424,433
Shareholders' funds
For the year ended 30 September 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Jake Timothy Hobson Director
These financial statements were approved and authorised for issue by the Board on 22 November 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 30 September 2024
Niwaki Ltd
Notes to the Financial Statements
Statutory Information
Niwaki Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number
06315319.
Principal place of business:
15 Chaldicott Barns
Semley
Shaftesbury
Dorset
SP7 9AW
Registered address:
Wessex House
66 High Street
Honiton
Devon
EX14 1PD
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of 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 costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Goodwill
Goodwill is the difference between the amount paid on the acquistion of a business and the aggregate fair value of it's separable net assets. It is being written off in equal annual instalments over it's economic useful life.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings
6 years Straight line
Plant and Machinery
20% Reducing balance
25% Reducing balance
Motor Vehicles
25% Reducing balance
Furniture and Fittings
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
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5
For the year ended 30 September 2024
Niwaki Ltd
Notes to the Financial Statements Continued
Share-based payments
Niwaki Ltd EMI Share Option Plan
10 share options granted to one key employee during the year ended 30 September 2021, 2 exercisable on the date
of grant, followed by two each consecutive year on the condition that turnover increases by 30% in the year ending
30 September 2021, 27% in the year ending 30 September 2022, 23% in the year ending 30 September 2023 and
20% in the year ending 30 September 2024 or at the employers discretion. The options shall lapse on the tenth
anniversary of the grant date if not exercised before then.
Fair value of shares was agreed with H M Revenue and Customs shares and assets valuation department.
The movements in the number of share options during the period were as follows:
Outstanding, start of period 4
Exercised during the period (2)
Outstanding, end of period 2
The movements in the weighted average exercise price of share options during the period were as follows:
Outstanding, start of period £8,496.00
Exercised during the period £(4,248.00)
Outstanding, end of period £4,248.00
Effect of share-based payments on profit or loss and financial position:
The total expense recognised in profit or loss for the period was £4,246.00 (2023 - £4,246.00)
2. Property, plant and equipment
Total
Furniture and
Fittings
Motor Vehicles
Plant and
Machinery
Land and
Buildings
£
£
£
£
£
Cost or
valuation
At 01 October 2023
661,463
120,685
127,465
103,744
309,569
161,671
17,562
120,690
23,419
-
Additions
At 30 September 2024
127,163
248,155
138,247
823,134
309,569
Provision for depreciation and impairment
At 01 October 2023
390,663
82,462
106,009
39,210
162,982
Charge for year
118,424
13,946
35,292
17,591
51,595
At 30 September 2024
509,087
96,408
141,301
56,801
214,577
At 30 September 2024
Net book value
94,992
70,362
106,854
41,839
314,047
At 30 September 2023
146,587
64,534
21,456
38,223
270,800
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6
For the year ended 30 September 2024
Niwaki Ltd
Notes to the Financial Statements Continued
3. Inventories
2023
2024
£
£
Stocks
2,621,555
2,391,146
4. Trade and other receivables
2023
2024
£
£
Trade debtors
235,949
278,607
Other debtors
155,392
123,322
401,929
391,341
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
192,829
278,182
Taxation and social security
466,909
385,409
Other creditors
181,333
158,760
841,071
822,351
6. Average number of persons employed
During the year the average number of employees was 30 (2023 : 26)
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