Company registration number 08847594 (England and Wales)
NICHOLAS WILLIAMS SURGERY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
NICHOLAS WILLIAMS SURGERY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
NICHOLAS WILLIAMS SURGERY LTD
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible fixed assets
4
2,728
3,412
Current assets
Debtors
5
79,876
75,928
Cash at bank and in hand
41,859
56,271
121,735
132,199
Creditors: amounts falling due within one year
6
(53,390)
(59,984)
Net current assets
68,345
72,215
Total assets less current liabilities
71,073
75,627
Provisions for liabilities
(682)
(854)
Net assets
70,391
74,773
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
70,389
74,771
Total equity
70,391
74,773
NICHOLAS WILLIAMS SURGERY LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2025
31 January 2025
- 2 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 19 August 2025 and are signed on its behalf by:
Mr N Williams
Director
Company Registration No. 08847594
NICHOLAS WILLIAMS SURGERY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
1
Accounting policies
Company information
Nicholas Williams Surgery Ltd is a private company limited by shares incorporated in England and Wales. The registered office is C/O RMT Accountants & Business Advisors Ltd, Gosforth Park Avenue, Newcastle upon Tyne, United Kingdom, NE12 8EG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for specialist medical services net of trade discounts. Turnover is attributable to the continuing principal activity of the company and arose wholly within the United Kingdom.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings and equipment
20% reducing balance
Computer equipment
20% reducing balance
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs.
Classification of financial liabilities
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.
NICHOLAS WILLIAMS SURGERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Total
4
4
NICHOLAS WILLIAMS SURGERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 5 -
3
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
47,825
51,949
Deferred tax
Origination and reversal of timing differences
(172)
40
Total tax charge
47,653
51,989
4
Tangible fixed assets
Fixtures, fittings and equipment
Computer equipment
Total
£
£
£
Cost
At 1 February 2024 and 31 January 2025
4,575
5,475
10,050
Depreciation
At 1 February 2024
3,607
3,031
6,638
Depreciation charged in the year
194
490
684
At 31 January 2025
3,801
3,521
7,322
Carrying amount
At 31 January 2025
774
1,954
2,728
At 31 January 2024
968
2,444
3,412
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
74,307
69,080
Other debtors
5,569
6,848
79,876
75,928
NICHOLAS WILLIAMS SURGERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Taxation and social security
47,811
51,949
Other creditors
5,579
8,035
53,390
59,984
7
Called up share capital
2025
2024
Ordinary share capital
£
£
Issued and fully paid
Ordinary A class share of £1 each
1
1
Ordinary B class share of £1 each
1
1
2
2
8
Related party transactions
Transactions with related parties
The following amounts were outstanding at the reporting end date:
2025
2024
Amounts due to related parties
£
£
Directors
-
2,163
The following amounts were outstanding at the reporting end date:
2025
2024
Amounts due from related parties
£
£
Directors
2,801
-
There was no set terms as to repayment of this balance and no interest accrued thereon.