Company Registration No. 06726301 (England and Wales)
SCIENTIST PRACTITIONER LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
SCIENTIST PRACTITIONER LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
442
886
Current assets
Debtors
4
8,191
4,883
Cash at bank and in hand
8,303
15,930
16,494
20,813
Creditors: amounts falling due within one year
5
(12,164)
(14,056)
Net current assets
4,330
6,757
Total assets less current liabilities
4,772
7,643
Creditors: amounts falling due after more than one year
6
(4,583)
(7,093)
Net assets
189
550
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
89
450
Total equity
189
550
SCIENTIST PRACTITIONER LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2023
31 October 2023
2

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has 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 and signed by the director and authorised for issue on 29 July 2024
T Russell
Director
Company Registration No. 06726301
SCIENTIST PRACTITIONER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
3
1
Accounting policies
Company information

Scientist Practitioner Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Bournemouth Road, Chandler's Ford, Eastleigh, Hampshire, SO53 3DA.

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 is recognised at the fair value of the consideration receivable for services provided in the normal course of business.

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:

Computer equipment
25% straight line

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

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Basic financial assets

Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

SCIENTIST PRACTITIONER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies (Continued)
4
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.

1.5
Taxation

The tax expense represents the sum of the tax currently payable.

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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
SCIENTIST PRACTITIONER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 and 31 October 2023
3,024
Depreciation and impairment
At 1 November 2022
2,138
Depreciation charged in the year
444
At 31 October 2023
2,582
Carrying amount
At 31 October 2023
442
At 31 October 2022
886
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,323
540
Other debtors
6,868
4,343
8,191
4,883
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
2,500
2,500
Trade creditors
-
0
1,405
Taxation and social security
1,157
3,359
Other creditors
8,507
6,792
12,164
14,056
SCIENTIST PRACTITIONER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
6
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
4,583
7,093
7
Related party transactions

During the year the director was advanced £6,761 (2022: £4,237) by way of her directors loan account. Repayments of £4,343 (2022: £nil) were made and interest of £107 (2022: £106) was charged. At the balance sheet date the amount owed to the company was £6,868 (2022: £4,343).

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