REGISTERED NUMBER: 06454561 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Nicander Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D S Lister

SECRETARY:

D S Lister

REGISTERED OFFICE:

14 Colmans Nook

Belasis Business Park

Billingham

STOCKTON-ON-TEES

TS23 4EG

REGISTERED NUMBER:

06454561 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

140 Coniscliffe Road

DARLINGTON

Co Durham

DL3 7RT

FIXED ASSETS

Tangible assets

4

67,809

49,447

Investments

5

1,988

1,988

69,797

51,435

CURRENT ASSETS

Debtors

6

944,004

903,000

Cash at bank

2,275,929

2,082,897

3,219,933

2,985,897

CREDITORS

Amounts falling due within one year

7

(632,514

)

(648,736

)

NET CURRENT ASSETS

2,587,419

2,337,161

TOTAL ASSETS LESS CURRENT LIABILITIES

2,657,216

2,388,596

PROVISIONS FOR LIABILITIES

9

(7,920

)

(5,904

)

NET ASSETS

2,649,296

2,382,692

CAPITAL AND RESERVES

Called up share capital

10

200

200

Retained earnings

2,649,096

2,382,492

SHAREHOLDERS' FUNDS

2,649,296

2,382,692

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 May 2026 and were signed by:

D S Lister - Director

1.	STATUTORY INFORMATION

Nicander Limited is a private company, limited by shares , registered in England and Wales. 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.

There have been no material departures from this standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous year and have been consistently applied.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Income recognition

Income is recognised when the conditions contained within a contract for software development and consultancy services have been met.

Tangible fixed assets

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

Improvements to property

-

20% on cost

Fixtures and fittings

-

15% on cost

Computer equipment

-

50% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

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.

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 shorter.

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

Rentals paid under operating leases are charged to the profit and loss account 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.

Investments

Investments are recognised at cost less provision for diminution in value.

Financial instruments

Basic financial instruments are recognised at amortised cost with charges recognised in profit or loss.

Grants receivable

Revenue based grants are credited to the profit and loss account. Capital based grants are credited to the profit and loss account, in equal instalments, over the estimated useful life of the related asset.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2024 - 48 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2025

4,830

91,704

414,315

510,849

Additions

-

9,092

46,021

55,113

Disposals

-

(763

)

-

(763

)

At 31 December 2025

4,830

100,033

460,336

565,199

DEPRECIATION

At 1 January 2025

3,623

66,661

391,118

461,402

Charge for year

966

8,909

26,561

36,436

Eliminated on disposal

-

(448

)

-

(448

)

At 31 December 2025

4,589

75,122

417,679

497,390

NET BOOK VALUE

At 31 December 2025

241

24,911

42,657

67,809

At 31 December 2024

1,207

25,043

23,197

49,447

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2025

and 31 December 2025

86,130

PROVISIONS

At 1 January 2025

and 31 December 2025

84,142

NET BOOK VALUE

At 31 December 2025

1,988

At 31 December 2024

1,988

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

681,422

656,119

Amounts owed by related

undertakings

807

723

Other debtors

34,463

51,241

Prepayments and accrued income

227,312

194,917

944,004

903,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

31,637

45,276

Taxation and social security

219,598

203,290

Other creditors

55,133

22,884

Accruals and deferred income

326,146

377,286

632,514

648,736

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

86,782

42,812

Between one and five years

192,950

32,240

279,732

75,052

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

7,920

5,904

Deferred

tax

£

Balance at 1 January 2025

5,904

Accelerated capital allowances

2,016

Balance at 31 December 2025

7,920

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

50

Ordinary

£1

50

50

100

A Ordinary

£1

100

100

50

B Ordinary

£1

50

50

200

200

The 'Ordinary', 'A Ordinary' and 'B Ordinary' shares shall constitute different classes of shares for the purposes of the Companies Act 2006 and all share classes shall be entitled to varying rates of dividend as may be declared by the directors from time to time. The A Ordinary shares shall have no voting rights but the right to repayment of £1 per 'A Ordinary' share from the assets available for distribution on winding up of the company. The Ordinary and B ordinary shares shall have full voting and equity rights.