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COMPANY REGISTRATION NUMBER: 09726584
THE BA PRACTICE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2022
THE BA PRACTICE LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 4
THE BA PRACTICE LIMITED
BALANCE SHEET
31 March 2022
2022
2021
Note
£
£
Fixed assets
Tangible assets
6
1
1
Current assets
Debtors
7
6,450
11,052
Cash at bank and in hand
75,417
23,640
------------
------------
81,867
34,692
Creditors: amounts falling due within one year
8
( 26,812)
( 19,886)
------------
------------
Net current assets
55,055
14,806
------------
------------
Total assets less current liabilities
55,056
14,807
------------
------------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
54,956
14,707
------------
------------
Shareholders funds
55,056
14,807
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 April 2022 , and are signed on behalf of the board by:
Mr H M Lorgat
Director
Company registration number: 09726584
THE BA PRACTICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
33% straight line
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).
5. Tax on profit
Major components of tax expense
2022
2021
£
£
Current tax:
UK current tax expense
18,824
13,221
------------
------------
Tax on profit
18,824
13,221
------------
------------
6. Tangible assets
Computer equipment
£
Cost
At 1 April 2021 and 31 March 2022
1,438
------------
Depreciation
At 1 April 2021 and 31 March 2022
1,437
------------
Carrying amount
At 31 March 2022
1
------------
At 31 March 2021
1
------------
7. Debtors
2022
2021
£
£
Trade debtors
4,950
8,800
Director's loan account
1
Section 455 tax recoverable
2,251
Other debtors
1,500
------------
------------
6,450
11,052
------------
------------
8. Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
18,824
13,221
Social security and other taxes
7,984
6,665
Director loan accounts
4
------------
------------
26,812
19,886
------------
------------
9. Called up share capital
Issued, called up and fully paid
2022
2021
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
10. Director's advances, credits and guarantees
Included in debtors is a loan to the director, amounting to : £ Amount outstanding at end of the year (4) Amount outstanding at beginning of the year 1 Maximum outstanding during the year 1
11. Related party transactions
The company is controlled by the directors. Included in other debtors is a loan to Nafeasan Homes Limited of £1,500 (2021 £Nil). This company is controlled by the director.