Registration number: 14732866

Niico Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Niico Ltd

Company Information

Directors

Mr Alistair Sergeant Mr Simon Justin Colin Williams

Registered office

167-169 Great Portland Street Fifth Floor London W1W 5PF

Accountants

Delphi Accounting Ltd Chartered Tax Advisers3 The Office Village Roman Way Bath Business Park Peasedown St John Bath BA2 8SG

Niico Ltd

(Registration number: 14732866)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	14,175	10,692
Current assets
Debtors	5	420,330	815,018
Cash at bank and in hand		83,439	136,030
		503,769	951,048
Creditors: Amounts falling due within one year	6	(1,361,870)	(864,044)
Net current (liabilities)/assets		(858,101)	87,004
Total assets less current liabilities		(843,926)	97,696
Creditors: Amounts falling due after more than one year	6	(312,500)	-
Net (liabilities)/assets		(1,156,426)	97,696
Capital and reserves
Called up share capital	7	126	126
Share premium reserve		840,125	839,924
Retained earnings		(1,996,677)	(742,354)
Shareholders' (deficit)/funds		(1,156,426)	97,696

Niico Ltd

(Registration number: 14732866)
Balance Sheet as at 31 December 2025

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 June 2026 and signed on its behalf by:
 

......................................... Mr Simon Justin Colin Williams Director

Niico Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
167-169 Great Portland Street
Fifth Floor
London
W1W 5PF
United Kingdom

These financial statements were authorised for issue by the Board on 30 June 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.

Going concern

The financial statements have been prepared on the going concern basis. As at 31 December 2025, the Company had a net liability position of £1,156,426, reflecting accumulated losses since incorporation which are due to significant investment in the early stages of trading.

The directors acknowledge that the net liability position represents a material uncertainty. However, having carefully considered this matter, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, for the reasons set out below.

Trading position. The Company continues to trade and is meeting its liabilities as they fall due in the ordinary course of business. The directors monitor cash flow closely and are satisfied that day-to-day operational obligations are being met on a timely basis.

Debt restructuring. The Company's financial liabilities have been restructured into agreed payment plans with its creditors. These arrangements are in good standing, and all scheduled payments are being met in accordance with the terms agreed. The directors have no reason to believe that any creditor will demand early repayment outside of those agreed terms.

Niico Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

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.

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.

Niico Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

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
Office equipment	25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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. Accounts payable 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 using the effective interest method.

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 company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2024 - 10).

Niico Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 January 2025	12,057	12,057
Additions	8,435	8,435
At 31 December 2025	20,492	20,492
Depreciation
At 1 January 2025	1,365	1,365
Charge for the year	4,952	4,952
At 31 December 2025	6,317	6,317
Carrying amount
At 31 December 2025	14,175	14,175
At 31 December 2024	10,692	10,692

5

Debtors

Current	2025 £	2024 £
Trade debtors	354,671	759,352
Prepayments	32,708	55,566
Other debtors	32,951	100
	420,330	815,018

Niico Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	364,217	-
Trade creditors		93,374	57,156
Taxation and social security		202,078	295,713
Accruals and deferred income		702,201	509,683
Other creditors		-	1,492
		1,361,870	864,044

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	312,500	-

GLIF Ld LP holds a fixed and floating charge over all assets and undertakings of the company.

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary Shares of £0.00 each	111,304	111	111,304	111
A Preferred of £0.00 each	9,690	10	9,690	10
B Ordinary of £0.00 each	5,092	5	5,092	5
	126,086	126	126,086	126

Niico Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	312,500	-

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	62,500	-
Other borrowings	301,717	-
	364,217	-