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Registration number: 08238943

N 3 A Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

N 3 A Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

N 3 A Ltd

Company Information

Directors

Mr Vinayakrao Ramanbhai Patel

Mr Jaydutt Desai

Mrs Pallavi Patel

Mrs Arpana Desai

Registered office

24 Holbrook Lane
Chislehurst
Kent
BR7 6PF

Solicitors

Laderman & Co
4 The Shrubberies
George Lane
London
E18 1BD

Accountants

Jani Taylor Associates Limited
Chartered Accountants, Advocates and Business Advisers
Office 6a Popin Business Centre
South Way
London
HA9 0HF

 

N 3 A Ltd

(Registration number: 08238943)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

90,600

107,400

Tangible assets

5

2,956

2,983

 

93,556

110,383

Current assets

 

Stocks

22,550

21,650

Debtors

84,035

100,717

Cash at bank and in hand

 

242

2,518

 

106,827

124,885

Prepayments and accrued income

 

-

287

Creditors: Amounts falling due within one year

(300,849)

(291,418)

Net current liabilities

 

(194,022)

(166,246)

Total assets less current liabilities

 

(100,466)

(55,863)

Creditors: Amounts falling due after more than one year

-

(24,400)

Net liabilities

 

(100,466)

(80,263)

Capital and reserves

 

Called up share capital

6

300

300

Retained earnings

(100,766)

(80,563)

Shareholders' deficit

 

(100,466)

(80,263)

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

N 3 A Ltd

(Registration number: 08238943)
Abridged Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 20 August 2024 and signed on its behalf by:
 

.........................................
Mr Vinayakrao Ramanbhai Patel
Director

.........................................
Mr Jaydutt Desai
Director

 
     

The members have elected not to publish the Director's Report and Profit & Loss Account.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

N 3 A Ltd

Notes to the Unaudited Abridged 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 and Wales.

The address of its registered office is:
24 Holbrook Lane
Chislehurst
Kent
BR7 6PF
United Kingdom

These financial statements were authorised for issue by the Board on 20 August 2024.

2

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 below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

N 3 A Ltd

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

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

10% on reducing balance method

Office equipment

25% on reducing balance method

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 15 Years on Straight line basis

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.

 

N 3 A Ltd

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

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

N 3 A Ltd

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

4

Intangible assets

Total
£

Cost or valuation

At 1 April 2023

252,000

At 31 March 2024

252,000

Amortisation

At 1 April 2023

144,600

Amortisation charge

16,800

At 31 March 2024

161,400

Carrying amount

At 31 March 2024

90,600

At 31 March 2023

107,400

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

123,953

123,953

Additions

410

410

At 31 March 2024

124,363

124,363

Depreciation

At 1 April 2023

120,970

120,970

Charge for the year

437

437

At 31 March 2024

121,407

121,407

Carrying amount

At 31 March 2024

2,956

2,956

At 31 March 2023

2,983

2,983

 

N 3 A Ltd

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

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

300

300

300

300

       
 

N 3 A Ltd

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

7

Related party transactions

Loans from related parties

2024

Key management
£

Total
£

At start of period

128,009

128,009

Advanced

20,163

20,163

At end of period

148,172

148,172

2023

Key management
£

Total
£

At start of period

115,343

115,343

Advanced

12,666

12,666

At end of period

128,009

128,009

Terms of loans from related parties

Sums advanced by the directors - Mr Vinayakrao Patel - £137,178 and Mr Desai - £10,994 for working capital from time to time. The loan is interest free and repayable on demand.