REGISTERED NUMBER: SC649584 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NIKNAR LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R P G Rankin

REGISTERED OFFICE:

Kilchoan Hotel

Kilchoan

ACHARACLE

Argyll

PH36 4LH

REGISTERED NUMBER:

SC649584 (Scotland)

ACCOUNTANTS:

R A Clement Associates

5 Argyll Square

OBAN

Argyll

PA34 4AZ

FIXED ASSETS

Tangible assets

4

347,085

369,820

CURRENT ASSETS

Stocks

1,050

1,275

Debtors

5

-

157

Cash at bank and in hand

209,983

207,064

211,033

208,496

CREDITORS

Amounts falling due within one year

6

64,722

60,902

NET CURRENT ASSETS

146,311

147,594

TOTAL ASSETS LESS CURRENT LIABILITIES

493,396

517,414

CREDITORS

Amounts falling due after more than one year

7

(386,244

)

(416,183

)

PROVISIONS FOR LIABILITIES

(10,391

)

(13,476

)

NET ASSETS

96,761

87,755

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

96,661

87,655

SHAREHOLDERS' FUNDS

96,761

87,755

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

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

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 29 September 2025 and were signed by:

R P G Rankin - Director

1.	STATUTORY INFORMATION

Niknar Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

324,886

41,816

130,283

Additions

-

2,053

-

At 31 December 2024

324,886

43,869

130,283

DEPRECIATION

At 1 January 2024

25,992

26,323

84,635

Charge for year

6,498

4,387

11,412

At 31 December 2024

32,490

30,710

96,047

NET BOOK VALUE

At 31 December 2024

292,396

13,159

34,236

At 31 December 2023

298,894

15,493

45,648

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

22,773

1,781

521,539

Additions

-

-

2,053

At 31 December 2024

22,773

1,781

523,592

DEPRECIATION

At 1 January 2024

13,165

1,604

151,719

Charge for year

2,402

89

24,788

At 31 December 2024

15,567

1,693

176,507

NET BOOK VALUE

At 31 December 2024

7,206

88

347,085

At 31 December 2023

9,608

177

369,820

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

157

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

22,254

21,678

Hire purchase contracts

4,967

3,735

Trade creditors

4,830

3,748

Taxation and social security

22,374

21,857

Other creditors

10,297

9,884

64,722

60,902

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

270,772

293,609

Hire purchase contracts

3,006

6,535

Other creditors

112,466

116,039

386,244

416,183

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

213,912

227,566

Other loans more 5yrs instal

94,763

98,336

308,675

325,902

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

The Royal Bank of Scotland Plc

274,681

287,017

The Royal Bank of Scotland PLC has floating charges over all the property or undertaking of the company.