Nika Holdings Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09698202 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

NIKA HOLDINGS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Y Echhideh

Ms N Isaykina

REGISTERED OFFICE:

72a High Street

Battle

East Sussex

TN33 0AG

REGISTERED NUMBER:

09698202 (England and Wales)

ACCOUNTANTS:

MVL Business Services

A trading name of Xynamo 5 Limited

72a High Street

Battle

East Sussex

TN33 0AG

FIXED ASSETS

Investments

4

81,602

81,602

CURRENT ASSETS

Debtors

5

8,101,571

7,675,348

Cash at bank and in hand

51

847

8,101,622

7,676,195

CREDITORS

Amounts falling due within one year

6

7,087,557

6,002,386

NET CURRENT ASSETS

1,014,065

1,673,809

TOTAL ASSETS LESS CURRENT LIABILITIES

1,095,667

1,755,411

CREDITORS

Amounts falling due after more than one year

7

1,253,520

1,857,757

NET LIABILITIES

(157,853

)

(102,346

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(157,854

)

(102,347

)

SHAREHOLDERS' FUNDS

(157,853

)

(102,346

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2021 and were signed on its behalf by:

Ms N Isaykina - Director

1.	STATUTORY INFORMATION

Nika Holdings Ltd 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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2020

and 31 December 2020

81,602

NET BOOK VALUE

At 31 December 2020

81,602

At 31 December 2019

81,602

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Amounts owed by group undertakings

8,101,571

7,675,348

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other creditors

7,087,557

6,002,386

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

1,253,520

1,857,757

8.	RELATED PARTY DISCLOSURES

As at the balance sheet date the company owed £1,062,373 (2019 - £466,682) to it's parent company, Koslor Limited, a company registered in British Virgin Islands. During the year £11,728 (2019 - £18,301) was accrued in interest.

As at the balance sheet date the company was owed £8,101,571 (2019 - £7,675,348) by it's subsidiary Green's Grill & Restaurant Limited.

As at the balance sheet date the company owed £1,253,520 (2019 - £1,391,075), Parkfence Holdings Limited, a company registered in Cyprus, in which Y Echhideh is also a director. During the year £29,296 (2019 - £15,215) was accrued in interest.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Svitlana Kulazhenko.