Nicsim Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Nicsim Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC649453 . The registered office is 62D Carnegie Place, Perth, PH1 5ED.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

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

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are website costs. They are amortised to profit and loss account over their estimated economic life of 5 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	-
Plant & Machinery	33% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	33% reducing balance

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Nicsim Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.7. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2026	2025
Office and administration	13	11
Directors	2	2

	15	13

4. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 February 2025	54,403	1,325	55,728

As at 31 January 2026	54,403	1,325	55,728

Amortisation
As at 1 February 2025	27,202	1,110	28,312
Provided during the period	5,440	165	5,605

As at 31 January 2026	32,642	1,275	33,917

Net Book Value
As at 31 January 2026	21,761	50	21,811

As at 1 February 2025	27,201	215	27,416

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Nicsim Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 February 2025	916	174,817	175,733
Additions	-	2,185	2,185

As at 31 January 2026	916	177,002	177,918

Depreciation
As at 1 February 2025	731	117,206	117,937
Provided during the period	61	14,949	15,010

As at 31 January 2026	792	132,155	132,947

Net Book Value
As at 31 January 2026	124	44,847	44,971

As at 1 February 2025	185	57,611	57,796

6. Stocks

	2026	2025
	£	£
Stock	9,000	5,500

7. Debtors

	2026	2025
	£	£
Due within one year
Prepayments and accrued income	3,152	12,818
Other debtors	77,308	77,308

	80,460	90,126

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	2,087	2,579
Other loans	51,609	-
Other taxes and social security	16,447	3,495
VAT	8,264	3,051
Inter company loan account	111,700	111,700
Customer deposits	10,055	17,823
Bounce Back Loan within one year	206	10,422
Accruals and deferred income	3,112	3,300
Directors' loan accounts	58,105	60,605

	261,585	212,975

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Nicsim Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

10. Directors Advances, Credits and Guarantees

Included within Creditors are the following loans from directors:

	As at 1 February 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 January 2026
	£	£	£	£	£
Mrs Nicoleta Cozma	32,184	(10,000 )	10,000	-	32,184
Mr Alan Berwick	28,421	(10,000 )	7,500	-	25,921

The above loans are unsecured, interest free and repayable on demand.

11. Related Party Transactions

Cozber Holdings Limited

Inter company transactions

Included within Debtors is an amount due from Cozber Holdings Limited of £65,608 (£65,608 - 2025). Alan Berwick and Nicoleta Camelia Cozma are joint shareholders of Cozber Holdings Limited and hold all of the share capital.

Cozber Ltd

Inter company transactions

Included within Debtors is an amount due from Cozber Ltd of £11,700 (£11,700 - 2025). Alan Berwick and Nicoleta Camelia Cozma are joint shareholders of Cozber Ltd and hold all of the share capital.

Bercoz Properties Ltd.

Inter company transactions

Included within Creditors is an amount due to Bercoz Properties Ltd. of £111,700 (£111,700 - 2024). Alan Berwick and Nicoleta Camelia Cozma are joint shareholders of Bercoz Properties Ltd. and hold all of the share capital.

12. Ultimate Controlling Party

The company's ultimate controlling parties are Alan Berwick and Nicoleta Camelia Cozma by virtue of their joint ownership of 100% of the issued share capital in the company.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		21,811		27,416
Tangible Assets	5		44,971		57,796

			66,782		85,212
CURRENT ASSETS
Stocks	6	9,000		5,500
Debtors	7	80,460		90,126
Cash at bank and in hand		123,366		47,238

		212,826		142,864
Creditors: Amounts Falling Due Within One Year	8	(261,585 )		(212,975 )

NET CURRENT ASSETS (LIABILITIES)			(48,759 )		(70,111 )

TOTAL ASSETS LESS CURRENT LIABILITIES			18,023		15,101

PROVISIONS FOR LIABILITIES
Deferred Taxation			(10,118 )		(13,004 )

NET ASSETS			7,905		2,097

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			7,805		1,997

SHAREHOLDERS' FUNDS			7,905		2,097

Mrs Nicoleta Cozma Director	Mr Alan Berwick Director
18th July 2026