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2023-05-31
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Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
06247808
2022-06-01
2023-05-31
06247808
2023-05-31
06247808
2022-05-31
06247808
2021-06-01
2022-05-31
06247808
2022-05-31
06247808
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2023-05-31
06247808
bus:OrdinaryShareClass1
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2023-05-31
06247808
bus:OrdinaryShareClass2
2022-06-01
2023-05-31
06247808
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2023-05-31
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2023-05-31
06247808
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06247808
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06247808
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06247808
core:FurnitureFittingsToolsEquipment
2022-05-31
06247808
core:PlantMachinery
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06247808
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06247808
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06247808
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06247808
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2023-05-31
06247808
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2022-06-01
2023-05-31
06247808
core:ShareCapital
2023-05-31
06247808
core:ShareCapital
2022-05-31
06247808
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2023-05-31
06247808
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2022-05-31
06247808
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2023-05-31
06247808
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2022-05-31
06247808
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core:ShareCapital
2023-05-31
06247808
bus:OrdinaryShareClass2
core:ShareCapital
2022-05-31
06247808
core:NetGoodwill
2022-05-31
06247808
core:PlantMachinery
2022-05-31
06247808
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2022-05-31
06247808
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06247808
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06247808
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2023-05-31
Nigel Grice and Associates Limited
Filleted accounts
31 May 2023
Company registration number:
06247808
Nigel Grice and Associates Limited
Directors and other information
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Director |
N Grice |
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Secretary |
Mrs S Grice |
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Company number |
06247808 |
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Registered office |
87 London Road, 2nd Floor |
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Headington |
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Oxford |
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OX3 9AA |
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Accountants |
Cox Hinkins & Co. Limited |
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Accountants and Taxation Advisors |
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The Old Dairy |
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12 Stephen Road |
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Headington |
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Oxford |
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OX3 9AY |
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Nigel Grice and Associates Limited
Balance sheet
31st May 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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|
|
|
|
Intangible assets |
|
5 |
- |
|
|
|
- |
|
|
Tangible assets |
|
6 |
21,527 |
|
|
|
30,765 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
21,527 |
|
|
|
30,765 |
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|
|
|
|
|
|
|
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Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
7 |
8,582 |
|
|
|
7,511 |
|
|
Cash at bank and in hand |
|
|
68,095 |
|
|
|
94,383 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
76,677 |
|
|
|
101,894 |
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|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
57,098) |
|
|
|
(
47,158) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
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Net current assets |
|
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|
|
19,579 |
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|
54,736 |
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|
|
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|
_______ |
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_______ |
Total assets less current liabilities |
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41,106 |
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85,501 |
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Provisions for liabilities |
|
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|
(
1,494) |
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|
(
1,857) |
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|
|
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|
|
|
|
|
|
|
|
|
|
_______ |
|
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|
_______ |
Net assets |
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|
|
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39,612 |
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83,644 |
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|
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
|
9 |
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|
101 |
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|
101 |
Profit and loss account |
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39,511 |
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83,543 |
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_______ |
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_______ |
Shareholders funds |
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39,612 |
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83,644 |
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_______ |
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_______ |
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For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Profit & loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
09 February 2024
, and are signed on behalf of the board by:
N Grice
Director
Company registration number:
06247808
Nigel Grice and Associates Limited
Notes to the financial statements
Year ended 31st May 2023
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 87 London Road, 2nd Floor, Headington, Oxford, OX3 9AA. There was no significant change in the company's principal activity during the year which continued to be that of
financial advisors
.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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:
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Goodwill |
- |
Straight line over 15 years |
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|
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 are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
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Computer equipment |
- |
25% straight line |
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Fittings fixtures and equipment |
- |
25% straight line |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2022:
4
).
5.
Intangible assets
|
|
Goodwill |
Total |
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|
£ |
£ |
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|
Cost |
|
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At 1st June 2022 and 31st May 2023 |
120,000 |
120,000 |
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|
|
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|
_______ |
_______ |
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Amortisation |
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At 1st June 2022 and 31st May 2023 |
120,000 |
120,000 |
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|
|
|
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|
_______ |
_______ |
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|
Carrying amount |
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At 31st May 2023 |
- |
- |
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_______ |
_______ |
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At 31st May 2022 |
- |
- |
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_______ |
_______ |
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6.
Tangible assets
|
|
Plant and machinery |
Fixtures, fittings and equipment |
Total |
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|
£ |
£ |
£ |
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Cost |
|
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At 1st June 2022 |
8,009 |
37,184 |
45,193 |
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Additions |
1,395 |
- |
1,395 |
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|
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Disposals |
(
1,034) |
- |
(
1,034) |
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|
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|
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|
_______ |
_______ |
_______ |
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At 31st May 2023 |
8,370 |
37,184 |
45,554 |
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_______ |
_______ |
_______ |
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Depreciation |
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At 1st June 2022 |
3,268 |
11,160 |
14,428 |
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Charge for the year |
1,807 |
8,826 |
10,633 |
|
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|
Disposals |
(
1,034) |
- |
(
1,034) |
|
|
|
|
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|
_______ |
_______ |
_______ |
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At 31st May 2023 |
4,041 |
19,986 |
24,027 |
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_______ |
_______ |
_______ |
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Carrying amount |
|
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At 31st May 2023 |
4,329 |
17,198 |
21,527 |
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|
|
|
|
|
_______ |
_______ |
_______ |
|
|
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|
|
At 31st May 2022 |
4,741 |
26,024 |
30,765 |
|
|
|
|
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|
_______ |
_______ |
_______ |
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7.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Other debtors |
|
8,582 |
7,511 |
|
|
|
_______ |
_______ |
|
|
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|
8.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Corporation tax |
|
29,208 |
33,395 |
|
Social security and other taxes |
|
669 |
1,219 |
|
Other creditors |
|
27,221 |
12,544 |
|
|
|
_______ |
_______ |
|
|
|
57,098 |
47,158 |
|
|
|
_______ |
_______ |
|
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|
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|
|
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9.
Called up share capital
Issued, called up and fully paid
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
100 |
|
100 |
|
100 |
|
100 |
|
Non voting B shares of £
1.00 each |
|
1 |
|
1 |
|
1 |
|
1 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
101 |
|
101 |
|
101 |
|
101 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
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|