Nico Contractors Limited

(Registration number: 05575627) (England and Wales)
Balance Sheet as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	6	238,456	255,471
Current assets
Debtors	7	468,814	723,751
Cash at bank and in hand		41,049	709
		509,863	724,460
Creditors: Amounts falling due within one year	8	(405,143)	(581,915)
Net current assets		104,720	142,545
Total assets less current liabilities		343,176	398,016
Creditors: Amounts falling due after more than one year	8	(37,278)	(59,778)
Net assets		305,898	338,238
Capital and reserves
Called up share capital	10	100	100
Retained earnings		305,798	338,138
Shareholders' funds		305,898	338,238

For the financial year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

The financial statements were approved and authorised for issue by the director on 21 July 2026
 

......................................... Mr Nicolae Condrea Director

Nico Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 3 Alexandra Bus. Cent.
Alma Road
Enfield
EN3 7BB
United Kingdom

These financial statements were authorised for issue by the director on 21 July 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Nico Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold Property	Nil
Plant and machinery	25% on reducing balance
Office equipment	25% on reducing balance
Motor Vehicles	25% on reducing balance

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Nico Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

Financial instruments

(i) Financial assets
Basic financial assets, including trade, other debtors, and cash and bank balances, and amounts due from fellow group undertakings, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method, unless they are receivable within one year. In these instances, assets are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be received.

At the end of each reporting period financial assets are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Nico Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

Basic financial liabilities, including trade and other creditors, bank loans, and amounts due to fellow group undertakings, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method, unless they are payable within one year. In these instances, assets are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid.

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit or Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

3	Staff numbers

The average monthly number of persons employed by the company (including the director) during the year, was 14 (2024: 12).

4	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	17,013	11,886

5

Taxation

Tax charged/(credited) in the profit and loss account

	2025 £	2024 £
Current taxation
UK corporation tax	58,390	22,159
UK corporation tax adjustment to prior periods	(158)	-
	58,232	22,159

Nico Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

7

Debtors

	2025 £	2024 £
Trade debtors	252,460	515,769
Other debtors	191,603	177,252
Prepayments	24,751	30,730
	468,814	723,751

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	36,948	71,668
Trade creditors		86,267	126,141
Gross amount due to customers for contract work		4,849	11,776
Taxation and social security		36,054	29,417
Corporation tax payable		45,507	62,275
Accruals and deferred income		189,180	247,569
Other creditors		6,108	2,781
Directors current account		230	30,288
		405,143	581,915

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	37,278	59,778

 

Nico Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

9	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	7,500	10,000
Bank overdrafts	-	13,437
HP and finance lease liability 1 (under 1yr)	29,448	48,231
	36,948	71,668

Non-current loans and borrowings

	Note	2025 £	2024 £
Bank borrowings		-	7,500
Other borrowings	12	37,278	52,278
		37,278	59,778

Bank borrowings consists of a government-backed Bounce Back Loan with a repayment term of 6 years from July 2021. The interest rate applicable to the loan is 2.5% with the first 12 months interest being covered by the government.

10	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Nico Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

11

Dividends

		2025		2024
		£		£
Interim dividend of £1,820.00 (2024 - £950.00) per ordinary share		182,000		95,000

12	Related party transactions

Other borrowings of £37,278 (2024; £52,278) relates to a loan from V.N. Investment Holdings Limited, a company in which the director is also director and a 25% shareholder of V.N. Investment Holdings Limited.