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Company No: 04989749 (England and Wales)

BURGESS MANAGEMENT CONSULTANTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

BURGESS MANAGEMENT CONSULTANTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

BURGESS MANAGEMENT CONSULTANTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
BURGESS MANAGEMENT CONSULTANTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
Directors M S Blake
G Creed
R A Mamotte
G K Walker
Registered office Floor 6 Wellington Gate
7-9 Church Road
Tunbridge Wells
Kent
TN1 1HT
United Kingdom
Company number 04989749 (England and Wales)
Accountant Kreston Reeves LLP
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
BURGESS MANAGEMENT CONSULTANTS LIMITED

BALANCE SHEET

As at 31 December 2024
BURGESS MANAGEMENT CONSULTANTS LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 5,779 13,876
5,779 13,876
Current assets
Debtors 4 517,303 1,215,955
Cash at bank and in hand 644,386 511,908
1,161,689 1,727,863
Creditors: amounts falling due within one year 5 ( 1,039,089) ( 1,549,645)
Net current assets 122,600 178,218
Total assets less current liabilities 128,379 192,094
Net assets 128,379 192,094
Capital and reserves
Called-up share capital 7 500 500
Capital redemption reserve 650 650
Profit and loss account 127,229 190,944
Total shareholders' funds 128,379 192,094

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Burgess Management Consultants Limited (registered number: 04989749) were approved and authorised for issue by the Board of Directors on 03 March 2025. They were signed on its behalf by:

G Creed
Director
BURGESS MANAGEMENT CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
BURGESS MANAGEMENT CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Burgess Management Consultants Limited (the Company) is a private company, limited by share capital, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Floor 6 Wellington Gate, 7-9 Church Road, Tunbridge Wells, Kent, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements depreciated over the life of the lease
Plant and machinery 4 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 21 20

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 January 2024 70,571 20,118 28,500 71,307 190,496
Disposals 0 0 ( 28,500) 0 ( 28,500)
At 31 December 2024 70,571 20,118 0 71,307 161,996
Accumulated depreciation
At 01 January 2024 70,571 10,191 25,117 70,741 176,620
Charge for the financial year 0 4,289 336 425 5,050
Disposals 0 0 ( 25,453) 0 ( 25,453)
At 31 December 2024 70,571 14,480 0 71,166 156,217
Net book value
At 31 December 2024 0 5,638 0 141 5,779
At 31 December 2023 0 9,927 3,383 566 13,876

4. Debtors

2024 2023
£ £
Trade debtors 465,755 1,154,164
Prepayments 20,585 23,619
Deferred tax asset 1,048 3,945
Other debtors 29,915 34,227
517,303 1,215,955

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 48,611
Trade creditors 294,468 556,610
Corporation tax 2,673 70,945
Other taxation and social security 163,015 220,272
Other creditors 578,933 653,207
1,039,089 1,549,645

6. Deferred tax

2024 2023
£ £
At the beginning of financial year 3,945 ( 2,057)
(Charged)/credited to the Statement of Income and Retained Earnings ( 2,897) 6,002
At the end of financial year 1,048 3,945

The deferred taxation balance is made up as follows:

2024 2023
£ £
Accelerated capital allowances 525 ( 1,197)
Other timing differences 523 5,142
1,048 3,945

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
500 Ordinary shares of £ 1.00 each 500 500

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 57,422 57,422
between one and five years 219,727 277,149
after five years 0 9,238
277,149 343,809

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £31,925 (2023: £25,864).