Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Mrs C Burns 06/12/2011 Mr N Burns 06/12/2011 Nicholas Burns Claire Burns 08 July 2025 The principal activity of the business is that of auctioneers and valuers. SC412672 2025-03-31 SC412672 bus:Director1 2025-03-31 SC412672 bus:Director2 2025-03-31 SC412672 2024-03-31 SC412672 core:CurrentFinancialInstruments 2025-03-31 SC412672 core:CurrentFinancialInstruments 2024-03-31 SC412672 core:ShareCapital 2025-03-31 SC412672 core:ShareCapital 2024-03-31 SC412672 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC412672 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC412672 core:Goodwill 2024-03-31 SC412672 core:Goodwill 2025-03-31 SC412672 core:OtherPropertyPlantEquipment 2024-03-31 SC412672 core:OtherPropertyPlantEquipment 2025-03-31 SC412672 2023-03-31 SC412672 bus:OrdinaryShareClass1 2025-03-31 SC412672 bus:OrdinaryShareClass2 2025-03-31 SC412672 core:KeyManagementPersonnel 2025-03-31 SC412672 core:KeyManagementPersonnel 2024-03-31 SC412672 2024-04-01 2025-03-31 SC412672 bus:FilletedAccounts 2024-04-01 2025-03-31 SC412672 bus:SmallEntities 2024-04-01 2025-03-31 SC412672 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 SC412672 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC412672 bus:Director1 2024-04-01 2025-03-31 SC412672 bus:Director2 2024-04-01 2025-03-31 SC412672 bus:Director3 2024-04-01 2025-03-31 SC412672 bus:Director4 2024-04-01 2025-03-31 SC412672 core:Goodwill core:TopRangeValue 2024-04-01 2025-03-31 SC412672 core:Goodwill 2024-04-01 2025-03-31 SC412672 core:OtherPropertyPlantEquipment core:TopRangeValue 2024-04-01 2025-03-31 SC412672 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 SC412672 2023-04-01 2024-03-31 SC412672 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 SC412672 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC412672 bus:OrdinaryShareClass2 2024-04-01 2025-03-31 SC412672 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 SC412672 core:KeyManagementPersonnel 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC412672 (Scotland)

N BURNS & C BURNS LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH THE REGISTRAR

N BURNS & C BURNS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Contents

N BURNS & C BURNS LTD

BALANCE SHEET

AS AT 31 MARCH 2025
N BURNS & C BURNS LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 4 11,987 15,487
11,987 15,487
Current assets
Debtors 5 21,535 15,113
Cash at bank and in hand 6 444,314 412,153
465,849 427,266
Creditors: amounts falling due within one year 7 ( 115,577) ( 111,141)
Net current assets 350,272 316,125
Total assets less current liabilities 362,259 331,612
Provision for liabilities 8, 9 ( 2,727) ( 3,520)
Net assets 359,532 328,092
Capital and reserves
Called-up share capital 10 100 100
Profit and loss account 359,432 327,992
Total shareholders' funds 359,532 328,092

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of N Burns & C Burns Ltd (registered number: SC412672) were approved and authorised for issue by the Board of Directors on 08 July 2025. They were signed on its behalf by:

Nicholas Burns
Director
Claire Burns
Director
N BURNS & C BURNS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
N BURNS & C BURNS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
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

N Burns & C Burns Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 6 King Street, Perth, PH2 8JA, 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 £.

Turnover

Turnover represents amounts receivable for auctioneering and valuing net of VAT and trade discounts.

Revenue is recognised on the accruals basis.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

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, 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:

Plant and machinery etc. 5 years straight line
25 % reducing balance

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.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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.

Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 7

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2024 30,000 30,000
At 31 March 2025 30,000 30,000
Accumulated amortisation
At 01 April 2024 30,000 30,000
At 31 March 2025 30,000 30,000
Net book value
At 31 March 2025 0 0
At 31 March 2024 0 0

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2024 57,447 57,447
Additions 535 535
At 31 March 2025 57,982 57,982
Accumulated depreciation
At 01 April 2024 41,960 41,960
Charge for the financial year 4,035 4,035
At 31 March 2025 45,995 45,995
Net book value
At 31 March 2025 11,987 11,987
At 31 March 2024 15,487 15,487

5. Debtors

2025 2024
£ £
Trade debtors 13,602 5,402
Other debtors 7,933 9,711
21,535 15,113

6. Cash and cash equivalents

2025 2024
£ £
Cash at bank and in hand 444,314 412,153

7. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 21,627 21,381
Taxation and social security 79,392 79,121
Other creditors 14,558 10,639
115,577 111,141

8. Provision for liabilities

2025 2024
£ £
Deferred tax 2,727 3,520

9. Deferred tax

2025 2024
£ £
At the beginning of financial year ( 3,520) ( 3,790)
Credited to the Statement of Income and Retained Earnings 793 270
At the end of financial year ( 2,727) ( 3,520)

10. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
2 A ordinary shares of £ 1.00 each 2 2
98 Ordinary shares of £ 1.00 each 98 98
100 100

11. Financial commitments

Commitments

2025 2024
£ £
Total future minimum lease payments under non-cancellable operating lease 2,072 2,664

12. Related party transactions

Transactions with the entity’s directors (or members of its governing body)

Amounts owed to directors

2025 2024
£ £
Directors' loan account 3 13

Advances have been made in this period to the Directors totalling £101,020 and £101,010 has been repaid. The loan is unsecured, interest free and repayable on demand.