Company registration number 04683828 (England and Wales)
NICE UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
NICE UK LIMITED
COMPANY INFORMATION
Directors
L Buoro
E Litchfield
(Appointed 11 September 2024)
Secretary
E Litchfield
Company number
04683828
Registered office
Automation House
Hamilton Road
Sutton in Ashfield
Nottinghamshire
NG17 5LD
Auditor
Taylor Dawson Plumb Limited
22 Regent Street
Nottingham
NG1 5BQ
NICE UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
NICE UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
60,262
51,613
Current assets
Stocks
5
955,589
780,300
Debtors
6
1,621,273
1,664,677
Cash at bank and in hand
598,030
833,261
3,174,892
3,278,238
Creditors: amounts falling due within one year
7
(1,296,572)
(1,625,710)
Net current assets
1,878,320
1,652,528
Total assets less current liabilities
1,938,582
1,704,141
Creditors: amounts falling due after more than one year
8
(16,211)
-
0
Provisions for liabilities
(6,974)
(6,974)
Net assets
1,915,397
1,697,167
Capital and reserves
Called up share capital
9
765,000
765,000
Profit and loss reserves
1,150,397
932,167
Total equity
1,915,397
1,697,167

The notes on pages 2 to 6 form part of these financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 7 April 2025 and are signed on its behalf by:
L Buoro
E Litchfield
Director
Director
Company registration number 04683828 (England and Wales)
NICE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

NICE UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Automation House, Hamilton Road, Sutton in Ashfield, Nottinghamshire, NG17 5LD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The parent company, NICE SpA has provided assurances that they will continue to provide support to the company for the foreseeable future.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer. This is usually at the point the customer has signed for the delivery of the goods.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
20% on cost
Plant and equipment
20% on cost and 10% on cost
Fixtures and fittings
33% on cost and 20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Cost is calculated using the average pricing method.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

NICE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Current tax

Current tax is recognised for the amount of corporation tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date.

Deferred tax

Full provision is made for deferred tax assets and liabilities arising from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes.

1.6
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.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.8
Foreign exchange

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

1.9

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Profit and Loss account in other administrative expenses.

2
Exceptional item
2024
2023
£
£
Expenditure
Exceptional item
-
699,273

During the year ended 31 December 2023 the company was the victim of a financial scam. Despite legal efforts no money was recovered so the loss of the money together with associated legal costs was written off as an exceptional item.

NICE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
21
23
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
125,373
150,655
276,028
Additions
-
0
25,595
25,595
Disposals
-
0
(16,070)
(16,070)
At 31 December 2024
125,373
160,180
285,553
Depreciation and impairment
At 1 January 2024
83,773
140,642
224,415
Depreciation charged in the year
12,681
4,265
16,946
Eliminated in respect of disposals
-
0
(16,070)
(16,070)
At 31 December 2024
96,454
128,837
225,291
Carrying amount
At 31 December 2024
28,919
31,343
60,262
At 31 December 2023
41,600
10,013
51,613

Included within the net book value above is plant and machinery held under finance leases amounting to £22,587 (2023: £Nil).

5
Stocks
2024
2023
£
£
Goods for resale
955,589
780,300
NICE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,558,327
1,614,341
Other debtors
62,946
50,336
1,621,273
1,664,677
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
219,653
198,097
Amounts owed to group undertakings
543,193
962,192
Taxation and social security
435,414
425,143
Other creditors
98,312
40,278
1,296,572
1,625,710

Included within other creditors is an amount of £4,745 (2023 : £Nil) owed under finance leases which are secured on the asset to which it relates.

8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
16,211
-
0

Included within other creditors is an amount of £16,211 (2023 : £Nil) owed under finance leases which are secured on the asset to which it relates.

9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
765,000
765,000
765,000
765,000
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

NICE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10
Audit report information
(Continued)
- 6 -
Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Sara Dawson
Statutory Auditor:
Taylor Dawson Plumb Limited
Date of audit report:
7 April 2025
11
Financial commitments, guarantees and contingent liabilities

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £262,281 (202 3: £210,088) and relates to property and vehicle lease commitments for the period from the year end to the end of the lease.

12
Related party transactions

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 wholly owned subsidiaries within the group.

During the year consultancy amounting to £5,084 (2023 - £Nil) was paid to a director.

13
Parent company

The ultimate parent company is Nice Group SpA, a company registered in Italy. Nice Group SpA prepares group financial statements including the results of NICE UK Limited.

Nice Group SpA is controlled by L Buoro. The immediate parent company is Nice SpA, a company registered in Italy.

The registered office address for both Nice Group SpA and Nice SpA is Via Callalta, 1, I-31046 Oderzo TV, Italy.

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