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COMPANY REGISTRATION NUMBER: 03826838
Niko Limited
Filleted Financial Statements
31 December 2024
Niko Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
3,534,312
3,540,824
Investments
6
5,500
5,500
-----------
-----------
3,539,812
3,546,324
Current assets
Stocks
1,105,000
937,131
Debtors
7
921,134
1,058,110
Cash at bank and in hand
1,090,054
775,742
-----------
-----------
3,116,188
2,770,983
Prepayments and accrued income
12,686
8,551
Creditors: amounts falling due within one year
8
842,123
722,195
-----------
-----------
Net current assets
2,286,751
2,057,339
-----------
-----------
Total assets less current liabilities
5,826,563
5,603,663
Creditors: amounts falling due after more than one year
9
1,242,052
1,491,283
Provisions
Taxation including deferred tax
144,067
106,827
Accruals and deferred income
12,424
34,907
-----------
-----------
Net assets
4,428,020
3,970,646
-----------
-----------
Capital and reserves
Called up share capital
10
100,000
100,000
Profit and loss account
4,328,020
3,870,646
-----------
-----------
Shareholders funds
4,428,020
3,970,646
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Niko Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 23 July 2025 , and are signed on behalf of the board by:
D. Upton
Director
Company registration number: 03826838
Niko Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private limited company limited by shares, incorporated, registered and trading in England and Wales. The address of the principal place of business is Airfield Business Park, Welsh Road East, Southam, Warwickshire, CV47 1NE. The company's registered office is Greyfriars House, 3 Newstead Drive, Southam, Warwickshire CV47 0LT. The company's registration number is 03826838 .
2. Statement of compliance
The financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102') and Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £.
Judgements and key sources of estimation uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
75 year straight line
Plant and equipment
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
Defined contribution plans
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable of £64,615 are charged to the profit and loss account.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 29 (2023: 26 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
3,309,973
335,087
85,867
67,510
3,798,437
Additions
46,037
18,764
30,050
94,851
Disposals
( 22,280)
( 22,280)
-----------
--------
-------
-------
-----------
At 31 December 2024
3,356,010
353,851
85,867
75,280
3,871,008
-----------
--------
-------
-------
-----------
Depreciation
At 1 January 2024
37,907
156,535
29,835
33,336
257,613
Charge for the year
22,059
47,303
14,008
11,941
95,311
Disposals
( 16,228)
( 16,228)
-----------
--------
-------
-------
-----------
At 31 December 2024
59,966
203,838
43,843
29,049
336,696
-----------
--------
-------
-------
-----------
Carrying amount
At 31 December 2024
3,296,044
150,013
42,024
46,231
3,534,312
-----------
--------
-------
-------
-----------
At 31 December 2023
3,272,066
178,552
56,032
34,174
3,540,824
-----------
--------
-------
-------
-----------
6. Investments
Other investments other than loans
£
Cost
At 1 January 2024 and 31 December 2024
5,500
------
Impairment
At 1 January 2024 and 31 December 2024
------
Carrying amount
At 31 December 2024
5,500
------
At 31 December 2023
5,500
------
7. Debtors
2024
2023
£
£
Trade debtors
914,330
1,057,988
Other debtors
6,804
122
--------
-----------
921,134
1,058,110
--------
-----------
2024 2023
£ £
Prepayments due in more than one year 6,048
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
85,850
85,850
Trade creditors
108,876
97,156
Amounts owed to group undertakings and undertakings in which the company has a participating interest
113,334
151,792
Social security and other taxes
437,784
296,639
Other creditors
96,279
90,758
--------
--------
842,123
722,195
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,242,052
1,491,283
-----------
-----------
Included within creditors: amounts falling due after more than one year is an amount of £898,652 (2023: £1,147,883) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The amount which falls due for payment after more than five years from the reporting date is repayable by instalments with an interest rate of 2.73% above the Bank of England base rate.
The bank holds a 1st Legal Charge over a commercial freehold property, with a net book value of £3,296,044, created on 25 April 2022. The bank also holds an unlimited Debenture incorporating a fixed and floating charge.
10. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100,000
100,000
100,000
100,000
--------
--------
--------
--------
11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
42,084
23,818
Later than 1 year and not later than 5 years
20,019
25,390
-------
-------
62,103
49,208
-------
-------
12. Limitation of auditors liability
On 4 February 2025 the company entered into a limitation of auditors liability with the auditor limiting the auditor's liability to a maximum of £1,500,000 (including interest).
13. Summary audit opinion
The auditor's report dated 23 July 2025 was unqualified .
The senior statutory auditor was David Pearson , for and on behalf of Edwards Pearson & White (Audit) Limited .
14. Related party transactions
During the year the company entered into transactions with related parties. The nature, amounts and balances at the reporting period are shown in the table below. Loan amounts have agreed repayment schedules and are due within one year. No guarantees or securities are given.
2024 2023
£ £
Entities with control, joint control or significant influence over the entity
Sales 40,218 22,251
Purchases 1,464,173 1,334,804
Outstanding balances (113,334) (151,792)
Other related parties
Sales 52,616 56,956
Purchases 168
Outstanding balances 164,564 121,833
15. Controlling party
Niko Limited is a 75% owned subsidiary of Helm Hellas S.A., a company incorporated in Greece. A copy of the group financial statements of the ultimate parent undertaking is available from their registered office in Greece: 82nd Km Athens-Korinthos P.O. Box 209 GR - 201 00 Korinthos Greece