Registered number
04489099
HMPSYCH. LIMITED
Filleted Accounts
31 July 2023
HMPSYCH. LIMITED
Registered number: 04489099
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 8,749 56,391
Investments 4 1,119,476 1,107,476
1,128,225 1,163,867
Current assets
Debtors 5 7,029 1,694
Cash at bank and in hand 195,856 82,611
202,885 84,305
Creditors: amounts falling due within one year 6 (74,878) (40,769)
Net current assets 128,007 43,536
Total assets less current liabilities 1,256,232 1,207,403
Creditors: amounts falling due after more than one year 7 (251,885) (283,535)
Provisions for liabilities (1,038) (8,930)
Net assets 1,003,309 914,938
Capital and reserves
Called up share capital 102 102
Profit and loss account 1,003,207 914,836
Shareholders' funds 1,003,309 914,938
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr H Moosa
Director
Approved by the board on 21 September 2023
HMPSYCH. LIMITED
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 10 years
Plant & machinery over 10 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Fixtures & fittings Motor vehicles Total
£ £ £
Cost
At 1 August 2022 6,431 74,940 81,371
Disposals - (58,790) (58,790)
At 31 July 2023 6,431 16,150 22,581
Depreciation
At 1 August 2022 - 24,980 24,980
On disposals - (11,791) (11,791)
At 31 July 2023 643 13,189 13,832
Net book value
At 31 July 2023 5,788 2,961 8,749
At 31 July 2022 6,431 49,960 56,391
4 Investments
Other
investments
£
Cost
At 1 August 2022 1,107,476
Additions 12,000
At 31 July 2023 1,119,476
5 Debtors 2023 2022
£ £
Prepayments 6,720 -
Other debtors 309 1,694
7,029 1,694
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 22,200 13,200
Taxation and social security costs 48,423 22,514
Other creditors 4,255 5,055
74,878 40,769
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 251,885 283,535
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 245,464 259,564
The loans are secured by fixed and floating charges on the company assets.
9 Other information
HMPSYCH. LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Thornycroft
Meins Road
Blackburn
Lancashire
BB2 6QQ
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