Registered number
13955672
Lawn Practice Ltd
Filleted Accounts
31 March 2024
Lawn Practice Ltd
Registered number: 13955672
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Intangible assets 3 352,500 352,500
Tangible assets 4 773 -
353,273 352,500
Current assets
Stocks 1,000 1,000
Debtors 5 36,563 34,821
Cash at bank and in hand 38,578 68,451
76,141 104,272
Creditors: amounts falling due within one year 6 (303,538) (328,576)
Net current liabilities (227,397) (224,304)
Total assets less current liabilities 125,876 128,196
Creditors: amounts falling due after more than one year 7 - (68,822)
Net assets 125,876 59,374
Capital and reserves
Called up share capital 100 100
Profit and loss account 125,776 59,274
Shareholder's funds 125,876 59,374
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 D J Srivastava
Director
Approved by the board on 19 June 2024
Lawn Practice Ltd
Notes to the Accounts
for the year ended 31 March 2024
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. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 352,500
At 31 March 2024 352,500
Amortisation
At 31 March 2024 -
Net book value
At 31 March 2024 352,500
At 31 March 2023 352,500
4 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 800
At 31 March 2024 800
Depreciation
Charge for the year 27
At 31 March 2024 27
Net book value
At 31 March 2024 773
5 Debtors 2024 2023
£ £
Trade debtors 36,563 34,821
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 36,215 31,854
Trade creditors 33,231 23,608
Taxation and social security costs 18,956 14,932
Other creditors 215,136 258,182
303,538 328,576
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 68,822
8 Loans to directors
At the year end, the company owed the director, Dr D J Srivastava, £215,136 (2023: £258,182)
9 Controlling party
The controlling party is Dr D J Srivastava, by virtue of shareholding.
10 Other information
Lawn Practice Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Rhymney Intergrated Health & Social Care Centre
The Lawns Industrial Estate
Rhymney
Tredegar
NP22 5PW
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