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REGISTERED NUMBER: 07700771 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st July 2023

for

Pearce Urology Ltd

Pearce Urology Ltd (Registered number: 07700771)






Contents of the Financial Statements
for the Year Ended 31st July 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Pearce Urology Ltd (Registered number: 07700771)

Balance Sheet
31st July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,077 1,201
Investments 5 64,883 50,389
112,960 51,590

CURRENT ASSETS
Debtors 6 103,856 151,711
Investments 7 - 13,350
Cash at bank 242,219 98,601
346,075 263,662
CREDITORS
Amounts falling due within one year 8 16,830 28,931
NET CURRENT ASSETS 329,245 234,731
TOTAL ASSETS LESS CURRENT
LIABILITIES

442,205

286,321

PROVISIONS FOR LIABILITIES 736 271
NET ASSETS 441,469 286,050

CAPITAL AND RESERVES
Called up share capital 9 102 102
Fair value reserve 10 - 29,560
Retained earnings 441,367 256,388
SHAREHOLDERS' FUNDS 441,469 286,050

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th October 2023 and were signed on its behalf by:





Dr I Pearce - Director


Pearce Urology Ltd (Registered number: 07700771)

Notes to the Financial Statements
for the Year Ended 31st July 2023

1. COMPANY INFORMATION

Pearce Urology Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07700771

Registered office: First Floor
49 Peter Street
Manchester
M2 3NG

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the provision of professional services is recognised on delivery of the service.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation net of depreciation and any impairment loss.

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 basis:

Fixtures and Fittings - 25% on cost
Motor Vehicles - 15% reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Fixed asset investments
Investments in fixed assets such as listed share portfolios are measured at fair value. At each reporting date the increase/(decrease) in fair value is recognised immediately in the income
statement.

Pearce Urology Ltd (Registered number: 07700771)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st August 2022 8,773 - 8,773
Additions 3,630 52,790 56,420
Disposals (4,847 ) - (4,847 )
At 31st July 2023 7,556 52,790 60,346
DEPRECIATION
At 1st August 2022 7,572 - 7,572
Charge for year 1,625 7,919 9,544
Eliminated on disposal (4,847 ) - (4,847 )
At 31st July 2023 4,350 7,919 12,269
NET BOOK VALUE
At 31st July 2023 3,206 44,871 48,077
At 31st July 2022 1,201 - 1,201

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST OR VALUATION
At 1st August 2022 50,389
Additions 13,108
Revaluations 1,386
At 31st July 2023 64,883
NET BOOK VALUE
At 31st July 2023 64,883
At 31st July 2022 50,389

Cost or valuation at 31st July 2023 is represented by:

Unlisted
investments
£   
Valuation in 2023 14,494
Cost 50,389
64,883

Market value of listed investments at 31st July 2023 - £ 64,883 .

Pearce Urology Ltd (Registered number: 07700771)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 1,833 -
Other debtors 100,212 149,900
S455 recoverable 1,811 1,811
103,856 151,711

7. CURRENT ASSET INVESTMENTS
31.7.23 31.7.22
£    £   
Unlisted investments - 13,350

The current asset investment value is stated at cost.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Tax 16,067 22,981
Social security and other taxes - 44
Other creditors - 4,665
Directors' current accounts 763 1,241
16,830 28,931

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
60 Ordinary A £60 60 60
40 Ordinary B £40 40 40
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
102 102

Ordinary A shares confer upon the holders the right to vote upon any resolution proposed at any general meeting of the company.

Ordinary B,C and Ordinary D shares do not confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

Ordinary C and D shares do not confer upon the holder distribution rights in the event of winding up.

The A, B,C and D Shares rank pari passu in respect of dividend and capital distribution rights.

10. RESERVES
Fair
value
reserve
£   
At 1st August 2022 29,560
Undistributable earnings (29,560 )

At 31st July 2023 -

Pearce Urology Ltd (Registered number: 07700771)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st July 2023 and 31st July 2022:

31.7.23 31.7.22
£    £   
Dr I Pearce and Dr S Pearce
Balance outstanding at start of year (1,241 ) (1,409 )
Amounts advanced 4,790 121,805
Amounts repaid (4,312 ) (121,637 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (763 ) (1,241 )

12. RELATED PARTY DISCLOSURES

The company has loaned funds to two companies, Fortify Clinic Limited and Pearce Property IS Limited, £212 (2022 £49,900) and £100,000 (2022 £100,000) respectively. One of the directors is also a director and shareholder in both companies. The loans, which are included in the accounts under other debtors, are interest free and repayable on demand.

13. CONTROL

The ultimate controlling party is Dr I Pearce by virtue of holding 100% of the voting share capital of the company.