Nickolas Burnett & Associates Limited Filleted accounts for Companies House (small and micro)

NICKOLAS BURNETT & ASSOCIATES LIMITED - Company Information

20 false false false false false false false false false true false false false false true false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 800,000 360,000 40,000 400,000 400,000 440,000 xbrli:pure xbrli:shares iso4217:GBP 06531340 2022-04-01 2023-03-31 06531340 2023-03-31 06531340 2022-03-31 06531340 2021-04-01 2022-03-31 06531340 2022-03-31 06531340 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06531340 core:PlantMachinery 2022-04-01 2023-03-31 06531340 core:FurnitureFittings 2022-04-01 2023-03-31 06531340 core:NetGoodwill 2022-04-01 2023-03-31 06531340 bus:Director1 2022-04-01 2023-03-31 06531340 core:NetGoodwill 2022-03-31 06531340 core:NetGoodwill 2023-03-31 06531340 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 06531340 core:PlantMachinery 2022-03-31 06531340 core:FurnitureFittings 2022-03-31 06531340 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 06531340 core:PlantMachinery 2023-03-31 06531340 core:FurnitureFittings 2023-03-31 06531340 core:WithinOneYear 2023-03-31 06531340 core:WithinOneYear 2022-03-31 06531340 core:ShareCapital 2023-03-31 06531340 core:ShareCapital 2022-03-31 06531340 core:RetainedEarningsAccumulatedLosses 2023-03-31 06531340 core:RetainedEarningsAccumulatedLosses 2022-03-31 06531340 core:NetGoodwill 2022-03-31 06531340 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 06531340 core:PlantMachinery 2022-03-31 06531340 core:FurnitureFittings 2022-03-31 06531340 bus:SmallEntities 2022-04-01 2023-03-31 06531340 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06531340 bus:FullAccounts 2022-04-01 2023-03-31 06531340 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06531340 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06531340 core:ComputerEquipment 2022-04-01 2023-03-31 06531340 core:ComputerEquipment 2022-03-31 06531340 core:ComputerEquipment 2023-03-31

COMPANY REGISTRATION NUMBER: 06531340

Nickolas Burnett & Associates Limited

Unaudited financial statements

31 March 2023

Nickolas Burnett & Associates Limited

Statement of financial position

31 March 2023

	2023		2022
Note	£	£	£	£

Fixed assets

Intangible assets	5	400,000	440,000
Tangible assets	6	133,168	163,281
		---------	---------
		533,168	603,281

Current assets

Stocks		8,317	9,882
Debtors	7	1,543,691	1,195,993
Cash at bank and in hand		764,311	584,754
		-----------	-----------
		2,316,319	1,790,629

Creditors: Amounts falling due within one year	8	( 336,746)		( 281,865)
		-----------		-----------
Net current assets			1,979,573		1,508,764
			-----------		-----------
Total assets less current liabilities			2,512,741		2,112,045

Provisions

Taxation including deferred tax	( 21,189)	( 27,614)
	-----------	-----------
Net assets	2,491,552	2,084,431
	-----------	-----------

Capital and reserves

Called up share capital	100	100
Profit and loss account	2,491,452	2,084,331
	-----------	-----------
Shareholders funds	2,491,552	2,084,431
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2023 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Nickolas Burnett & Associates Limited

Statement of financial position (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 22 December 2023 , and are signed on behalf of the board by:

Mr A Chokshi

Director

Company registration number: 06531340

Nickolas Burnett & Associates Limited

Notes to the financial statements

Year ended 31 March 2023

1. General information

The company ia a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Newmarket Road, Cambridge CB5 8DT.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Amortisation of goodwill is estimated over 20 years. The carrying value at the period end was £400,000 (2022: £440,000).

Revenue recognition

Turnover is in respect of dental services rendered and is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.

Income tax

Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	Amortised over twenty years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	6% straight line
Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	25% straight line
Equipment	-	25% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution pension plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of employees during the year was 20 (2022: 14 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2022 and 31 March 2023	800,000
	---------
Amortisation
At 1 April 2022	360,000
Charge for the year	40,000
	---------
At 31 March 2023	400,000
	---------
Carrying amount
At 31 March 2023	400,000
	---------
At 31 March 2022	440,000
	---------

6. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2022	33,712	461,274	69,863	69,772	634,621
Additions	–	7,283	–	–	7,283
	-------	---------	-------	-------	---------
At 31 March 2023	33,712	468,557	69,863	69,772	641,904
	-------	---------	-------	-------	---------
Depreciation
At 1 April 2022	9,755	340,923	55,472	65,190	471,340
Charge for the year	2,022	18,591	14,252	2,531	37,396
	-------	---------	-------	-------	---------
At 31 March 2023	11,777	359,514	69,724	67,721	508,736
	-------	---------	-------	-------	---------
Carrying amount
At 31 March 2023	21,935	109,043	139	2,051	133,168
	-------	---------	-------	-------	---------
At 31 March 2022	23,957	120,351	14,391	4,582	163,281
	-------	---------	-------	-------	---------

7. Debtors

	2023	2022
	£	£
Trade debtors	27,124	33,935
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,484,726	1,032,189
Other debtors	31,841	129,869
	-----------	-----------
	1,543,691	1,195,993
	-----------	-----------

8. Creditors: Amounts falling due within one year

	2023	2022
	£	£
Trade creditors	82,325	109,524
Amounts owed to group undertakings and undertakings in which the company has a participating interest	120,000	20,000
Social security and other taxes	119,103	88,759
Other creditors	15,318	63,582
	---------	---------
	336,746	281,865
	---------	---------

9. Directors' advances, credits and guarantees

During the year, the directors operated a loan with the company at HM Revenue & Customs approved interest rates. At the period end the amount owed to the company was £15,315 (2022: £930).