Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-312023-01-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07845729 2023-01-01 2023-12-31 07845729 2022-01-01 2022-12-31 07845729 2023-12-31 07845729 2022-12-31 07845729 2022-01-01 07845729 c:PriorPeriodIncreaseDecrease 2023-01-01 2023-12-31 07845729 d:Director1 2023-01-01 2023-12-31 07845729 c:FurnitureFittings 2023-01-01 2023-12-31 07845729 c:FurnitureFittings 2022-12-31 07845729 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07845729 c:OfficeEquipment 2023-01-01 2023-12-31 07845729 c:OfficeEquipment 2022-12-31 07845729 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07845729 c:ComputerEquipment 2023-01-01 2023-12-31 07845729 c:ComputerEquipment 2022-12-31 07845729 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07845729 c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07845729 c:Goodwill 2023-12-31 07845729 c:Goodwill 2022-12-31 07845729 c:CurrentFinancialInstruments 2023-12-31 07845729 c:CurrentFinancialInstruments 2022-12-31 07845729 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 07845729 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 07845729 c:ShareCapital 2023-12-31 07845729 c:ShareCapital 2022-12-31 07845729 c:ShareCapital 2022-01-01 07845729 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 07845729 c:RetainedEarningsAccumulatedLosses 2023-12-31 07845729 c:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 07845729 c:RetainedEarningsAccumulatedLosses 2022-12-31 07845729 c:RetainedEarningsAccumulatedLosses 2022-01-01 07845729 d:OrdinaryShareClass1 2023-01-01 2023-12-31 07845729 d:OrdinaryShareClass1 2023-12-31 07845729 d:OrdinaryShareClass1 2022-12-31 07845729 d:FRS102 2023-01-01 2023-12-31 07845729 d:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07845729 d:FullAccounts 2023-01-01 2023-12-31 07845729 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07845729 c:FurnitureFittings c:PriorPeriodIncreaseDecrease 2023-01-01 2023-12-31 07845729 c:OfficeEquipment c:PriorPeriodIncreaseDecrease 2023-01-01 2023-12-31 07845729 c:ComputerEquipment c:PriorPeriodIncreaseDecrease 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07845729










NESBITT AND CO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NESBITT AND CO LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Statement of changes in equity
 
 
4
Notes to the financial statements
 
 
5 - 10


 
NESBITT AND CO LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NESBITT AND CO LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nesbitt and Co Limited for the year ended 31 December 2023 which comprise the Balance sheet, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Nesbitt and Co Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Nesbitt and Co Limited  and state those matters that we have agreed to state to the director of Nesbitt and Co Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nesbitt and Co Limited and its director for our work or for this report. 

It is your duty to ensure that Nesbitt and Co Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nesbitt and Co Limited. You consider that Nesbitt and Co Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Nesbitt and Co Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



BAGINSKY COHEN
CHARTERED ACCOUNTANTS
930 HIGH ROAD
LONDON
N12 9RT
29 February 2024
Page 1

 
NESBITT AND CO LIMITED
REGISTERED NUMBER: 07845729

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

FIXED ASSETS
  

Tangible assets
 5 
6,637
8,562

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
68,817
59,381

Cash at bank and in hand
 7 
26,676
57,390

  
95,493
116,771

Creditors: amounts falling due within one year
 8 
(89,194)
(85,437)

NET CURRENT ASSETS
  
 
 
6,299
 
 
31,334

  

NET ASSETS
  
12,936
39,896


CAPITAL AND RESERVES
  

Called up share capital 
 10 
100
100

Profit and loss account
 9 
12,836
39,796

  
12,936
39,896


Page 2

 
NESBITT AND CO LIMITED
REGISTERED NUMBER: 07845729

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 February 2024.




L NESBITT
Director

The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
NESBITT AND CO LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
100
33,979
34,079



Profit for the year
-
215,817
215,817

Dividends: Equity capital
-
(210,000)
(210,000)



At 1 January 2023
100
39,796
39,896



Profit for the year
-
188,040
188,040

Dividends: Equity capital
-
(215,000)
(215,000)


At 31 December 2023
100
12,836
12,936


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
NESBITT AND CO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.ACCOUNTING POLICIES

 
1.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 2).

 
1.2

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
1.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 5

 
NESBITT AND CO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.ACCOUNTING POLICIES (CONTINUED)

 
1.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance
Office equipment
-
20%
reducing balance
Computer equipment
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.5

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.7

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.8

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
NESBITT AND CO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.ACCOUNTING POLICIES (CONTINUED)

 
1.9

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


2.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, which are described in note 1, management is required to make judgments, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources.  The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant.  Actual results may differ from these estimates. 
The estimates and underlying assumptions are reviewed on an ongoing basis.  Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.



3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2022 -3).

Page 7

 
NESBITT AND CO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


INTANGIBLE ASSETS




Goodwill

£



Cost


At 1 January 2023
345,000



At 31 December 2023

345,000



Amortisation


At 1 January 2023
345,000



At 31 December 2023

345,000



Net book value



At 31 December 2023
-



At 31 December 2022
-




5.


TANGIBLE FIXED ASSETS





Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
9,966
2,458
28,446
40,870


Additions
-
-
1,173
1,173



At 31 December 2023
9,966
2,458
29,619
42,043



Depreciation


At 1 January 2023
9,085
1,450
21,774
32,309


Charge for the year on owned assets
176
333
2,589
3,098



At 31 December 2023
9,261
1,783
24,363
35,407



Net book value



At 31 December 2023
705
675
5,256
6,636



At 31 December 2022
881
1,008
6,673
8,562

Page 8

 
NESBITT AND CO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


DEBTORS

2023
2022
£
£


Trade debtors
64,750
58,870

Other debtors
4,067
511

68,817
59,381



7.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
26,676
57,389



8.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Corporation tax
58,291
50,210

Other taxation and social security
26,083
31,847

Accruals and deferred income
4,820
3,380

89,194
85,437



9.


RESERVES

Profit and loss account

This includes all current and prior period retained profits and losses.

Page 9

 
NESBITT AND CO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 -100) Ordinary shares of £1.00 each
100
100


Page 10