REGISTERED NUMBER: 11603612 (England and Wales)

Audited Financial Statements for the Year Ended 31 December 2024

for

Nuvik Global Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

267,188

320,704

Tangible assets

5

498,924

416,385

766,112

737,089

CURRENT ASSETS

Stocks

1,861,269

2,066,822

Debtors

6

3,974,206

2,370,431

Cash at bank

177,044

172,900

6,012,519

4,610,153

CREDITORS

Amounts falling due within one year

7

(2,034,560

)

(2,251,509

)

NET CURRENT ASSETS

3,977,959

2,358,644

TOTAL ASSETS LESS CURRENT LIABILITIES

4,744,071

3,095,733

CREDITORS

Amounts falling due after more than one year

8

(6,250

)

-

PROVISIONS FOR LIABILITIES

(85,048

)

(55,700

)

NET ASSETS

4,652,773

3,040,033

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

4,652,673

3,039,933

4,652,773

3,040,033

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 Board of Directors and authorised for issue on 8 August 2025 and were signed on its behalf by:

Mr M Rabey - Director

1.	STATUTORY INFORMATION

Nuvik Global Limited is a private company, limited by shares, domiciled in England, registration number 11603612.The registered office is Infinity House, Unit 11 Commerce Way, Leighton Buzzard, LU7 4RW.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies.

Turnover

Turnover represents net invoiced sales of cleaning wipes, excluding value added tax. Sales are recognised at the point at which the goods are delivered.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, will be amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

20% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks

Stocks are valued at the lower of cost of manufacture and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by the purchase price of materials used in the manufacture of the cleaning wipes.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

500,000

35,115

535,115

AMORTISATION

At 1 January 2024

200,000

14,411

214,411

Charge for year

50,000

3,516

53,516

At 31 December 2024

250,000

17,927

267,927

NET BOOK VALUE

At 31 December 2024

250,000

17,188

267,188

At 31 December 2023

300,000

20,704

320,704

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

1,566,790

Additions

313,225

At 31 December 2024

1,880,015

DEPRECIATION

At 1 January 2024

1,150,405

Charge for year

230,686

At 31 December 2024

1,381,091

NET BOOK VALUE

At 31 December 2024

498,924

At 31 December 2023

416,385

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

54,604

At 31 December 2024

54,604

DEPRECIATION

Charge for year

910

At 31 December 2024

910

NET BOOK VALUE

At 31 December 2024

53,694

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

194,444

509,511

Amounts owed by group undertakings

3,661,234

1,762,889

Amounts owed by related parties

95,983

90,205

Other debtors

22,545

7,826

3,974,206

2,370,431

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

6,250

-

Trade creditors

1,100,865

529,248

Amounts owed to group undertakings

493,253

1,155,767

Taxation and social security

412,941

555,796

Other creditors

21,251

10,698

2,034,560

2,251,509

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

6,250

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

12,500

-

Hire purchase contracts are secured on the assets to which they relate.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Greig Brown (Senior Statutory Auditor)

for and on behalf of Drummond Laurie CA

11.	RELATED PARTY DISCLOSURES

At the year end, the company was owed £95,983 by a related party (2023: £90,205).

12.	ULTIMATE PARENT ENTITY

Demco Group Limited is the ultimate parent entity and is registered in Scotland under registration number SC584425. The registered office is Spectrum House South View, Dales Industrial Estate, Peterhead, Scotland, AB42 3JF.