Registered number
07630614
Achieve Psychology Limited
Unaudited Filleted Accounts
31 March 2023
API Partnership Limited t/a Chandler & Georges
Chartered Accountants
75 Westow Hill
Crystal Palace
London
SE19 1TX
Ph. 0208 761 2213
Web. Www.chandlerandgeorges.co.uk
Achieve Psychology Limited
Registered number: 07630614
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,851 1,237
Current assets
Stocks 2,880 6,570
Debtors 4 105,736 71,536
Cash at bank and in hand 6,963 24,815
115,579 102,921
Creditors: amounts falling due within one year 5 (38,945) (41,871)
Net current assets 76,634 61,050
Total assets less current liabilities 78,485 62,287
Creditors: amounts falling due after more than one year 6 (4,886) (10,605)
Net assets 73,599 51,682
Capital and reserves
Called up share capital 500 500
Profit and loss account 73,099 51,182
Shareholders' funds 73,599 51,682
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.
Allyson June Caseley
Director
Approved by the board on 16 November 2023
Achieve Psychology Limited
Notes to the Accounts
for the year ended 31 March 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 sale of goods and 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.
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:
Fixtures, fittings, tools and equipment 25% Straight line
Stocks
Stocks and work-in-progress represents the value of services carried out but not yet invoiced as at the year end.
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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company including director 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 2,243
Additions 1,368
At 31 March 2023 3,611
Depreciation
At 1 April 2022 1,006
Charge for the year 754
At 31 March 2023 1,760
Net book value
At 31 March 2023 1,851
At 31 March 2022 1,237
4 Debtors 2023 2022
£ £
Trade debtors 4,500 -
Other debtors 101,236 71,536
105,736 71,536
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,226 3,462
Trade creditors 267 -
Corporation tax 5,804 7,490
Other taxes and social security costs 800 -
Other creditors 29,848 30,919
38,945 41,871
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 4,886 10,605
The company took advantage of The Bounce Back Loan Scheme (BBLS) by borrowing £27,500. The rate of interest is 2.5% and the loan is repayable in 6 years from August 2021.
7 Controlling party
The company is controlled by Allyson June Caseley who owns 100% shares of the company.
8 Other information
Achieve Psychology Limited is a private company limited by shares and incorporated in England. Its registered office is:
75 Westow Hill
Crystal Palace
London
SE19 1TX
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