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REGISTERED NUMBER: 07233298 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

The O.T. Practice Limited

The O.T. Practice Limited (Registered number: 07233298)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


The O.T. Practice Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs N Thompson
Mr G A Thompson





SECRETARY: Mr C D Andrews





REGISTERED OFFICE: Unit 3, Meridian Office Park
Osborn Way
Hook
Hampshire
RG27 9HY





REGISTERED NUMBER: 07233298 (England and Wales)





ACCOUNTANTS: DUX Advisory Limited
Chartered Accountants
Kennel Club House
Gatehouse Way
Aylesbury
Buckinghamshire
HP19 8DB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
The O.T. Practice Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The O.T. Practice Limited for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The O.T. Practice Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The O.T. Practice Limited and state those matters that we have agreed to state to the Board of Directors of The O.T. Practice Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The O.T. Practice Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The O.T. Practice Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The O.T. Practice Limited. You consider that The O.T. Practice Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The O.T. Practice Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






DUX Advisory Limited
Chartered Accountants
Kennel Club House
Gatehouse Way
Aylesbury
Buckinghamshire
HP19 8DB


4 July 2024

The O.T. Practice Limited (Registered number: 07233298)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 63,169 85,355
63,169 85,355

CURRENT ASSETS
Debtors 6 573,350 653,494
Cash at bank and in hand 1,478,442 1,968,903
2,051,792 2,622,397
CREDITORS
Amounts falling due within one year 7 700,167 1,491,461
NET CURRENT ASSETS 1,351,625 1,130,936
TOTAL ASSETS LESS CURRENT LIABILITIES 1,414,794 1,216,291

CAPITAL AND RESERVES
Called up share capital 40 40
Share premium 14,980 14,980
Retained earnings 1,399,774 1,201,271
1,414,794 1,216,291

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 O.T. Practice Limited (Registered number: 07233298)

Balance Sheet - continued
30 April 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 July 2024 and were signed on its behalf by:





Mr G A Thompson - Director


The O.T. Practice Limited (Registered number: 07233298)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

The O.T. Practice Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, has an estimated useful life of ten years. Goodwill has been fully amortised as at the reporting date.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Leasehold improvements 20% Straight line
Fixtures & fittings 15% Straight line
Computer equipment 33% Straight line
Motor vehicles 20% Straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

The O.T. Practice Limited (Registered number: 07233298)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 45 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 35,000
AMORTISATION
At 1 May 2023
and 30 April 2024 35,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 145,504
Additions 1,648
At 30 April 2024 147,152
DEPRECIATION
At 1 May 2023 60,149
Charge for year 23,834
At 30 April 2024 83,983
NET BOOK VALUE
At 30 April 2024 63,169
At 30 April 2023 85,355

The O.T. Practice Limited (Registered number: 07233298)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 488,352 591,904
Amounts owed by group undertakings 40,597 25,737
Other debtors 44,401 35,853
573,350 653,494

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 326,145 392,618
Taxation and social security 103,264 138,052
Other creditors 270,758 960,791
700,167 1,491,461