REGISTERED NUMBER: 11603624 (England and Wales)

Audited Financial Statements for the Year Ended 31 December 2024

for

Nuvik UK Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

4,400

-

Tangible assets

5

287,997

149,863

Investments

6

4,197

4,197

296,594

154,060

CURRENT ASSETS

Stocks

437,481

401,881

Debtors

7

4,204,314

3,372,729

Cash at bank

1,586,146

408,766

6,227,941

4,183,376

CREDITORS

Amounts falling due within one year

8

(4,081,612

)

(2,386,785

)

NET CURRENT ASSETS

2,146,329

1,796,591

TOTAL ASSETS LESS CURRENT LIABILITIES

2,442,923

1,950,651

PROVISIONS FOR LIABILITIES

(15,037

)

-

NET ASSETS

2,427,886

1,950,651

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,427,786

1,950,551

2,427,886

1,950,651

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 UK Ltd is a private company, limited by shares, domiciled in England, registration number 11603624. 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 undertakings.

Turnover

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

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.

Plant and machinery etc

-

25% on cost and 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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

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 29 (2023 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

4,800

At 31 December 2024

4,800

AMORTISATION

Charge for year

400

At 31 December 2024

400

NET BOOK VALUE

At 31 December 2024

4,400

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

242,362

Additions

219,142

Disposals

(54,886

)

At 31 December 2024

406,618

DEPRECIATION

At 1 January 2024

92,499

Charge for year

50,676

Eliminated on disposal

(24,554

)

At 31 December 2024

118,621

NET BOOK VALUE

At 31 December 2024

287,997

At 31 December 2023

149,863

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

4,197

NET BOOK VALUE

At 31 December 2024

4,197

At 31 December 2023

4,197

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

4,128,013

3,314,139

Other debtors

76,301

58,590

4,204,314

3,372,729

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

407,462

143,367

Amounts owed to group undertakings

2,760,956

1,367,195

Taxation and social security

457,277

507,248

Other creditors

455,917

368,975

4,081,612

2,386,785

9.	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

10.	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.