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REGISTERED NUMBER: 07894068 (England and Wales)










CB & N Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






CB & N Limited (Registered number: 07894068)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CB & N Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Dr Simon Clavell Bate Dentist
Dr Elaine Margaret Bate





REGISTERED OFFICE: 89 King Street
Whalley
Clitheroe
Lancashire
United Kingdom
BB7 9SW





REGISTERED NUMBER: 07894068 (England and Wales)






CB & N Limited (Registered number: 07894068)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 188,404 205,531
Tangible assets 6 591,175 632,876
779,579 838,407

CURRENT ASSETS
Stocks 7 14,061 8,753
Debtors 8 23,076 23,225
Cash at bank 41,625 45,678
78,762 77,656
CREDITORS
Amounts falling due within one year 9 (231,345 ) (191,999 )
NET CURRENT LIABILITIES (152,583 ) (114,343 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

626,996

724,064

CREDITORS
Amounts falling due after more than one year 10 (525,459 ) (573,194 )

PROVISIONS FOR LIABILITIES (32,030 ) (52,205 )
NET ASSETS 69,507 98,665

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 69,407 98,565
69,507 98,665

CB & N Limited (Registered number: 07894068)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Profit and Loss Account and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





Dr Simon Clavell Bate Dentist - Director


CB & N Limited (Registered number: 07894068)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
89 King Street
Whalley
Clitheroe
Lancashire
United Kingdom
BB7 9SW

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out These policies have been consistently applied to all the years presented, unless otherwise stated.below.

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

GOING CONCERN
The financial statements have been prepared on a going concern basis.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.


CB & N Limited (Registered number: 07894068)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Statement of Retained Earnings, 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.

TANGIBLE ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual
value of each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33.33% on cost
Plant & machinery - 20% WDV

GOODWILL
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class Amortisation method and rate
Goodwill over 5 years and over 20 years

CB & N Limited (Registered number: 07894068)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

LEASES
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

CB & N Limited (Registered number: 07894068)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

DIVIDENDS
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

DEFINED CONTRIBUTION PENSION OBLIGATION
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 14 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 642,547
AMORTISATION
At 1 April 2023 437,016
Amortisation for year 17,127
At 31 March 2024 454,143
NET BOOK VALUE
At 31 March 2024 188,404
At 31 March 2023 205,531

CB & N Limited (Registered number: 07894068)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 429,732 336,100 113,072 32,361 911,265
Additions 13,000 12,959 846 12,422 39,227
At 31 March 2024 442,732 349,059 113,918 44,783 950,492
DEPRECIATION
At 1 April 2023 - 197,164 56,178 25,047 278,389
Charge for year - 50,954 24,597 5,377 80,928
At 31 March 2024 - 248,118 80,775 30,424 359,317
NET BOOK VALUE
At 31 March 2024 442,732 100,941 33,143 14,359 591,175
At 31 March 2023 429,732 138,936 56,894 7,314 632,876

Included within the net book value of land and buildings above is £429,732 (2022 - £429,732) in respect of
freehold land and buildings.

7. STOCKS
2024 2023
£    £   
Stocks 14,061 8,753

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by related parties 19,931 19,954
Prepayments 3,145 3,271
23,076 23,225

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Loans and borrowings (see note 11) 34,824 34,824
Hire purchase contracts 28,428 28,418
Trade creditors 22,169 15,781
Taxation and social security 54,260 49,651
PAYE & NI liabilities 4,681 4,092
Purchase retentions 11,343 5,163
Credit card account 41,198 35,252
Pension contributions unpaid 2,073 1,894
Accrued expenses 32,369 16,924
231,345 191,999

CB & N Limited (Registered number: 07894068)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 11) 503,212 527,353
Hire purchase contracts 22,247 45,841
525,459 573,194

Amounts falling due in more than five years:

Repayable by instalments
Barclays commerical morgages 426,532 426,532

11. LOANS AND BORROWINGS

An analysis of the maturity of loans and borrowings is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans (under 1 year) 24,824 24,824
Bounce back loan (under 1year) 10,000 10,000
34,824 34,824

Amounts falling due between one and two years:
Bank loans (1-2 years) 25,374 25,374
Bounce back loan (1-2 years) 10,000 10,000
35,374 35,374

Amounts falling due between two and five years:
Bank loans - 2-5 years 39,639 53,780
Bounce back loan (2-5 yrs) 1,667 11,667
41,306 65,447

Amounts falling due in more than five years:

Repayable by instalments
Barclays commerical morgages 426,532 426,532