Registration number:
Nicoll Curtin Technology Limited
for the Year Ended 31 December 2025
Nicoll Curtin Technology Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Nicoll Curtin Technology Limited
Company Information
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Directors |
N J Clark S W C Burks |
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Company secretary |
M G Richards |
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Registered office |
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Solicitors |
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Bankers |
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Auditors |
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Nicoll Curtin Technology Limited
Strategic Report for the Year Ended 31 December 2025
The directors present their strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the company is that of an executive technology recruitment agency.
Fair review of the business
2025 remained a challenging year for the entire recruitment industry. Many global external factors, political and economic, weighed heavily on business confidence resulting in a significant reduction in overall hiring, with the permanent recruitment space being particularly hard hit.
The company maintained it’s core contract recruitment revenue, which is the key recurring income, but saw a permanent fees remain at a supressed level which ultimately resulted in the company seeing a loss for the year.
We took the strategic decision to not make large reductions to our workforce and continue to support our historically high achieving staff, but throughout 2025 we looked at a number of areas where the business could benefit from lower cost and higher productivity.
The management team remains strong, committed and fully focused with the company direction and ambition clearly communicated.
The company continue to be committed to the growth and investment into our core business verticals and seeking growth opportunities that offer the right balance of business including new, higher value service offerings.
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Net Fee Income (NFI) |
£ |
298,965 |
542,858 |
|
Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) less dividends received |
£ |
(256,819) |
(217,339) |
The company continues to be recognised as an outstanding global technology and change recruitment consultancy.
Banking facilities
We continue to benefit from great support from our Banks, in the UK, Ireland, Singapore and Switzerland.
We have looked at our current and future funding requirements in line with our budgets and are satisfied that we have sufficient funding in place to support our continued trade.
Cashflow remains a key focus across the business and the excellent structure and processes of our finance team together with the quality of our blue- chip client base has ensured that we continue to have minimal bad debts.
Our banking partners have reaffirmed their ongoing support for the business.
Nicoll Curtin Technology Limited
Strategic Report for the Year Ended 31 December 2025
Principal risks and uncertainties
The Company actively considers and manages its risks. The director reviews and agrees policies for managing these risks and these are summarised below:
Liquidity Risk
The company makes use of its Invoice Finance facility with HSBC and Credit Suisse to manage its liquidity risk. In order to maintain liquidity and to ensure that sufficient funds are available for ongoing operations the company regularly reviews its cashflows and funding line with its bankers. We are fully satisfied that the current facilities will support our continued trade into 2026.
Credit Risk
The Company’s credit risk is primarily attributable to Trade Receivables, this is managed by regular monitoring of customer accounts. The credit risk on liquid funds is limited because all limits applied to customers are supported by limits calculated by credit rating agencies. Actual performance has been excellent with almost no bad debt recorded over the last 10 years.
Operational Risk
The attraction and retention of high calibre consultants and managers is critical to the success of the Company. This is not a risk specific to the Company but one that is experienced by the recruitment sector as a whole. To mitigate this risk there is a programme of initiatives to focus on talent acquisition, development and retention. The programme includes performance based financial incentives, bespoke training and detailed career development planning.
Market Risk
Market risk is reviewed by measuring our performance against all industry best practice metrics and utilising industry leading tools and software. The directors actively engage and communicate with individuals at all levels within the markets that we operate which provides valuable insight into changing developments and policies that may impact the business.
Approved by the Board on
N J Clark
Director
Nicoll Curtin Technology Limited
Directors' Report for the Year Ended 31 December 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
Directors of the company
The directors who held office during the year were as follows:
Information included in the Strategic Report
Information regarding likely future developments is disclosed in the Strategic report.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Reappointment of auditors
In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Lambert Chapman LLP as auditors of the company is to be proposed at the forthcoming Annual General Meeting.
Approved by the Board on
N J Clark
Director
Nicoll Curtin Technology Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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• |
select suitable accounting policies and apply them consistently; |
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• |
make judgements and accounting estimates that are reasonable and prudent; |
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• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Nicoll Curtin Technology Limited
Independent Auditor's Report to the Members of Nicoll Curtin Technology Limited
Opinion
We have audited the financial statements of Nicoll Curtin Technology Limited (the 'company') for the year ended 31 December 2025, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its loss 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. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Nicoll Curtin Technology Limited
Independent Auditor's Report to the Members of Nicoll Curtin Technology Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
Nicoll Curtin Technology Limited
Independent Auditor's Report to the Members of Nicoll Curtin Technology Limited
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• |
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
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• |
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the recruitment industry; |
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• |
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, employment and health and safety legislation; |
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• |
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
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• |
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;
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• |
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
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• |
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
To address the risk of fraud through management bias and override of controls, we:
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• |
performed analytical procedures to identify any unusual or unexpected relationships; |
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• |
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and |
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• |
investigated the rationale behind significant or unusual transactions. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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• |
agreeing financial statement disclosures to underlying supporting documentation; |
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• |
reading the minutes of meetings of those charged with governance; and |
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• |
enquiring of management as to actual and potential litigation and claims. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing
standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Nicoll Curtin Technology Limited
Independent Auditor's Report to the Members of Nicoll Curtin Technology Limited
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
3 Warners Mill
Silks Way
Essex
CM7 3GB
Nicoll Curtin Technology Limited
Profit and Loss Account for the Year Ended 31 December 2025
|
Note |
2025 |
2024 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Operating loss |
( |
( |
|
|
Income from shares in group undertakings |
- |
|
|
|
Other interest receivable and similar income |
- |
|
|
|
Amounts written off investments |
( |
( |
|
|
(21,851) |
1,274,857 |
||
|
(Loss)/profit before tax |
( |
|
|
|
(Loss)/profit for the financial year |
( |
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Nicoll Curtin Technology Limited
Statement of Comprehensive Income for the Year Ended 31 December 2025
|
2025 |
2024 |
|
|
(Loss)/profit for the year |
( |
|
|
Total comprehensive income for the year |
( |
|
Nicoll Curtin Technology Limited
(Registration number: 04704369)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Investments |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
2,000 |
2,000 |
|
|
Share premium reserve |
175,200 |
175,200 |
|
|
Retained earnings |
(31,563) |
243,246 |
|
|
Shareholders' funds |
145,637 |
420,446 |
Approved and authorised by the
|
......................................... |
Nicoll Curtin Technology Limited
Statement of Changes in Equity for the Year Ended 31 December 2025
|
Share capital |
Share premium |
Retained earnings |
Total |
|
|
At 1 January 2025 |
|
|
|
|
|
Loss for the year |
- |
- |
( |
( |
|
At 31 December 2025 |
|
|
( |
|
|
Share capital |
Share premium |
Retained earnings |
Total |
|
|
At 1 January 2024 |
|
|
( |
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
At 31 December 2024 |
2,000 |
175,200 |
243,246 |
420,446 |
Nicoll Curtin Technology Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office and principle place of business is:
England
|
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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
These financial statements are presented in Sterling (£), which is the company's functional currency.
Summary of disclosure exemptions
The company has taken the exemption available from disclosing transactions with other members of the group in accordance with FRS 102 Section 33.1a.
The company has taken the exemption available from disclosing key management personnel compensation in accordance with FRS 102 Section 33.7a.
The company has taken the exemption available from preparing a cash flow statement and reconciliation of net debt in accordance with FRS 102 Section 7 as equivalent group level disclosures have been prepared in the parent company consolidated accounts.
Exemption from preparing group accounts
The financial statements contain information about Nicoll Curtin Technology Limited as an individual company and do not contain consolidated financial information as the parent of a group.
The company is exempt under section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Nicoll Curtin Group Limited.
Nicoll Curtin Technology Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Judgements
The judgement (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have the most significant effect on the amounts recognised in the financial statements are as follows: |
Determine whether there are indicators of impairment of the company's tangible assets and recoverability of group loan balances. Factors taken into consideration in reaching a decision include the economic viability and expected future financial performance of an asset. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the placement of permanent and temporary staff in the ordinary course of the company’s activities. Turnover is shown net of 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.
Foreign currency transactions and balances
Tax
Current Tax is recognised in the profit and loss account, 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.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Office equipment |
Straight line over 3 years |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Nicoll Curtin Technology Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand.
Trade debtors
Trade debtors are amounts due from customers for the provision of recruitment services in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
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 the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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 recognised initially at the transaction price and subsequently measured at amortised cost.
Borrowings
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 and 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.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Share capital
Ordinary shares are classified as equity.
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.
Nicoll Curtin Technology Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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.
Share based payments
The group rewards key management using share-based payments. The share-based payments are equity settled using shares in Nicoll Curtin Group Limited measured at fair value at the date of grant. Where the employees being rewarded are employed by other companies within the group the expense is included within the company where the employment costs of the staff member are recognised with a corresponding entry of Capital contribution through equity.
Financial instruments
|
Revenue |
The analysis of the company's Turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Rendering of services |
|
|
The analysis of the company's Turnover for the year by market is as follows:
|
2025 |
2024 |
|
|
Permanent sales |
|
|
|
Contract sales |
|
|
|
|
|
The analysis of the company's Turnover for the year by market is as follows:
|
2025 |
2024 |
|
|
UK |
|
|
|
Rest of world |
|
|
|
|
|
Nicoll Curtin Technology Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Other gains and losses |
The analysis of the company's other gains and losses for the year is as follows:
|
2025 |
2024 |
|
|
Loss on disposal of tangible assets |
- |
( |
|
Loss from disposals of investments |
( |
( |
|
(21,851) |
(4,469) |
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Other finance income |
- |
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Administration and support |
|
|
|
Sales |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
151,477 |
123,225 |
Nicoll Curtin Technology Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2025 |
2024 |
|
|
Received or were entitled to receive shares under long term incentive schemes |
|
|
|
Accruing benefits under money purchase pension scheme |
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
- |
- |
|
- |
- |
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
(Loss)/profit before tax |
( |
|
|
Corporation tax at standard rate |
( |
|
|
Tax increase/(decrease) from effect of capital allowances and depreciation |
|
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Effect of tax losses |
|
|
|
Tax increase arising from group relief |
|
|
|
Tax decrease from effect of dividends received |
- |
( |
|
Tax increase from effect on profit on disposal of fixed assets |
- |
|
|
Increase in general provision adjustment |
( |
( |
|
Total tax charge/(credit) |
- |
- |
Nicoll Curtin Technology Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Tangible assets |
|
Office equipment |
Total |
|
|
Cost or valuation |
||
|
At 1 January 2025 |
|
|
|
Additions |
|
|
|
Disposals |
( |
( |
|
At 31 December 2025 |
|
|
|
Depreciation |
||
|
At 1 January 2025 |
|
|
|
Charge for the year |
|
|
|
Eliminated on disposal |
( |
( |
|
At 31 December 2025 |
|
|
|
Carrying amount |
||
|
At 31 December 2025 |
|
|
|
At 31 December 2024 |
|
|
|
Investments |
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
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Cost or valuation |
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At 1 January 2025 |
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Impairment |
( |
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At 31 December 2025 |
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Carrying amount |
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At 31 December 2025 |
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At 31 December 2024 |
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Nicoll Curtin Technology Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Holding |
Proportion of voting rights and shares held |
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2025 |
2024 |
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Subsidiary undertakings |
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Subsidiary undertakings |
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Nicoll Curtin Technology GmbH The principal activity of Nicoll Curtin Technology GmbH is |
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Nicoll Curtin Technology PTE Ltd The principal activity of Nicoll Curtin Technology PTE Ltd is |
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Nicoll Curtin Technology (HK) Ltd The principal activity of Nicoll Curtin Technology (HK) Ltd is |
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Nicoll Curtin Technology Europe Limited The principal activity of Nicoll Curtin Technology Europe Limited is |
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Nicoll Curtin Technology Consulting GmbH The principal activity of Nicoll Curtin Technology Consulting GmbH is |
Nicoll Curtin Technology Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Nicoll Curtin Consulting PTE Ltd (owned indirectly) The principal activity of Nicoll Curtin Consulting PTE Ltd (owned indirectly) is |
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Debtors |
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Current |
2025 |
2024 |
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Trade debtors |
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Amounts owed by related parties |
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Other debtors |
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Prepayments |
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The carrying amount of trade debtors pledged as security for liabilities amounted to £284,299 (2024 - £199,072).
Trade debtors have been pledged as security under invoice discounting arrangements.
Debtors include amounts owed by group undertakings, whilst these are due on demand, it is unlikely that they will be repaid in full during the next year.
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Cash and cash equivalents |
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2025 |
2024 |
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Cash at bank |
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Creditors |
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2025 |
2024 |
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Due within one year |
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Trade creditors |
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Amounts due to related parties |
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Social security and other taxes |
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Outstanding defined contribution pension costs |
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Other payables |
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Accruals |
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Creditors amounts falling due within one year includes invoice discounting liabilities, on which security has been given by the company amounting to £241,707 (2024 - £115,289).
Creditors include amounts owed to group undertakings, whilst these are due on demand, it is unlikely that they will be repaid in full during the next year.
Nicoll Curtin Technology Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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1,500 |
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1,500 |
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300 |
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300 |
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200 |
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200 |
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Rights, preferences and restrictions
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Ordinary A shares have the following rights, preferences and restrictions: |
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Ordinary B Shares have the following rights, preferences and restrictions: |
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Ordinary C shares have the following rights, preferences and restrictions: |
Nicoll Curtin Technology Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
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2025 |
2024 |
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Not later than one year |
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- |
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
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Share-based payments |
Scheme details and movements
The options are valued using the market value of the existing share capital at the time of grant and subsequently revalued at each reporting date.
The options vest upon exit conditions for which no timeline is determinable and contain perfomance conditions attached to the share option are unlikely to be met by the company. For these reasons the directors do not feel a reliable estimate of the fair value of the options can be made and as such no expense has been recognised in respect of the scheme. If the directors feel an estimation of the timeline for the vesting conditions to be met in a future period the group will recognise the cumulative effect in that period.
The entity is part of a group share-based payment scheme and it recognises and measures its share-based payment expense on the basis of a reasonable allocation of the expense recognised for the group. As the employees enrolled in the scheme are employed by the company however the options relate to the parent company the expense will be recognised in the company with a corresponding credit for capital contribution from the parent company.
Nicoll Curtin Technology Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
The movements in the number of share options during the year were as follows:
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2025 |
2024 |
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Outstanding, start of period |
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Outstanding, end of period |
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The movements in the weighted average exercise price of share options during the year were as follows:
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2025 |
2024 |
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Outstanding, start of period |
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Outstanding, end of period |
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Dividends |
Interim dividends paid
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2025 |
2024 |
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Interim dividend of £Nil (2024 - £ |
- |
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Relationship between entity and parents |
The parent of the largest and smallest group in which these financial statements are consolidated is
The address of Nicoll Curtin Group Limited is:
Fifth floor
London
W1W 5PF