REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FOR |
STANMORE PRIVATE FAMILY PRACTICE LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FOR |
STANMORE PRIVATE FAMILY PRACTICE LIMITED |
STANMORE PRIVATE FAMILY PRACTICE LIMITED (REGISTERED NUMBER: 07379744) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 September 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
STANMORE PRIVATE FAMILY PRACTICE LIMITED |
COMPANY INFORMATION |
for the Year Ended 30 September 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
10 London Mews |
Paddington |
LONDON |
W2 1HY |
STANMORE PRIVATE FAMILY PRACTICE LIMITED (REGISTERED NUMBER: 07379744) |
BALANCE SHEET |
30 September 2023 |
30.9.23 | 30.9.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
STANMORE PRIVATE FAMILY PRACTICE LIMITED (REGISTERED NUMBER: 07379744) |
BALANCE SHEET - continued |
30 September 2023 |
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 |
STANMORE PRIVATE FAMILY PRACTICE LIMITED (REGISTERED NUMBER: 07379744) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
Stanmore Private Family Practice Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents income from medical legal work excluding VAT. |
Turnover is recognised once the service has been provided and invoice raised. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business on 1 October 2011, is being amortised evenly over its estimated useful life of fifteen years. |
Tangible fixed assets |
Freehold property | - |
Fixtures and fittings | - |
Computer equipment | - |
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
In accordance with the Companies Act and FRS102 1A freehold property is required to be depreciated. However the Directors deemed that the residual value of the freehold property was greater than the cost value. For this reason the Directors enacted a true and fair override to present fairly the entity's financial position. The override being no depreciation has been charged on freehold property. |
The freehold property has been reclassified as an investment property in the current year. |
Investment property |
Investment property is held at its fair value at each reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors, trade creditors, other debtors, other creditors and bank loans. |
The basic financial instruments are initially recognised at transaction price and subsequently carried at amortised cost. |
STANMORE PRIVATE FAMILY PRACTICE LIMITED (REGISTERED NUMBER: 07379744) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current tax only. 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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 October 2022 |
and 30 September 2023 |
AMORTISATION |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
STANMORE PRIVATE FAMILY PRACTICE LIMITED (REGISTERED NUMBER: 07379744) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2022 |
Reclassification/transfer | ( |
) | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
and 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Revaluations | 135,184 |
Reclassification/transfer | 589,816 |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
Fair value at 30 September 2023 is represented by: |
£ |
Valuation in 2023 | 135,184 |
Cost | 589,816 |
725,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
30.9.23 | 30.9.22 |
£ | £ |
Cost | 589,816 | - |
Investment property was valued on an open market value basis on 30 September 2023 by the Directors of the company . |
STANMORE PRIVATE FAMILY PRACTICE LIMITED (REGISTERED NUMBER: 07379744) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Taxation and social security |
Other creditors |
9. | RELATED PARTY DISCLOSURES |
Directors |
During the year the Directors of the company introduced monies totalling £42,005 (2022: £157,519) and the company made loan repayments totalling £7,696 (2022: £8,025). As at 30 September 2023 the company owed the Directors £273,474 (2022: £239,165). No interest is being charged on this loan and the loan is repayable on demand. This balance is included within other creditors. |
10. | RESERVES |
Dividends totalling £60,770 (2022: £72,919) were paid during the year. The only other movement in reserves was the profit for the year. |