NICOVENTURES TRADING LIMITED

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. NICOVENTURES TRADING LIMITED 2014-11-10 → present
2. CN CREATIVE LIMITED 2008-08-06 → 2014-11-10

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Considering the Company's financial position as at 31 December 2024, the parent company ("Supporting Company") intends to provide financial support to the Company for the purposes of its business operations for a period of at least 12 months from the date of approval of the financial statements for the year ended 31 December 2024. This support will be in the form of additional share capital to address expected cash flow requirements. Given this and after reviewing the Company's forecasts and projections for the 12 months from approval of these financial statements, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.”

Group structure

1. NICOVENTURES TRADING LIMITED · parent
   1. Nicoventures U.S. Limited 100% · United States
   2. British American (Shanghai) Enterprise Development Co., Ltd 100% · China
   3. British American Nico Business Consulting (Shanghai) Co., Ltd 100% · China

Significant events

• “Revenue increased from £1,303,278,000 in 2023 to £1,455,367,000 in 2024 with the HP brand Glo being the main contributor to the revenue. The increase in revenue is primarily driven by sales of Combustible tobacco products in Japan and increased sales of HP and Modern Oral products globally.”
• “The Company has continued to leverage R&D investment launching new innovations and establishing a strong new initiative pipeline for future years.”
• “A proposed national class action was filed in the British Columbia Supreme Court by Danver Bauman (via his litigation guardian) on 21 December 2023 against Imperial Tobacco Company Ltd., Imperial Tobacco Canada Ltd,, and the Company alleging numerous statutory and common law causes of action in connection with the design, marketing and sale of Zonnic. The action was issued in violation of the Companies' Creditors Arrangement ("CCAA") Stay, is subject to the CCAA Stay. Notwithstanding the lift of the Stay on 29 August 2025, the proposed class action has not been served.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

9

last 12 months

Capital events

1

last 24 months

Officers appointed

3

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.