Company No:
Contents
Note | 30.04.2024 | 31.03.2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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50,521 | 58,098 | |||
Current assets | ||||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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302,353 | 519,326 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 178,194 | 309,680 | ||
Total assets less current liabilities | 228,715 | 367,778 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Share premium account |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
The financial statements of The River Practice Limited (registered number:
Mr S Ahmed
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.
The River Practice Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The River Practice Specialist Centre Castle Mews, 10 Castle St, Truro, TR1 3AB, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The accounting reference date of the company was extended from 31 March 2024 to 30 April 2024, to bring the company's year end in line with its parent company. Therefore amounts presented in the profit and loss account are not entirely comparable.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Land and buildings |
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Plant and machinery |
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Fixtures and fittings |
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Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Period from 01.04.2023 to 30.04.2024 |
Period from 17.03.2022 to 31.03.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the period, including directors |
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Land and buildings | Plant and machinery | Fixtures and fittings | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 April 2023 |
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Additions |
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At 30 April 2024 |
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Accumulated depreciation | |||||||
At 01 April 2023 |
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Charge for the financial period |
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At 30 April 2024 |
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Net book value | |||||||
At 30 April 2024 |
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At 31 March 2023 |
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30.04.2024 | 31.03.2023 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by Group undertakings |
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Other debtors |
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30.04.2024 | 31.03.2023 | ||
£ | £ | ||
Trade creditors |
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Taxation and social security |
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Other creditors |
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30.04.2024 | 31.03.2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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1,064 | 1,064 |
Transactions with the entity's directors
30.04.2024 | 31.03.2023 | ||
£ | £ | ||
Director's loan | 16,257 | 0 |
During the period the company advanced £17,978 to the director, of which £1,971 was repaid. Interest totalling £250 has been charged on the loan at the actual official rate of 2.25% set out by HMRC. The total amount due to the company at the period was £16,257 (2023: £Nil) and is repayable on demand.
Parent Company:
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The Bristol Office, 2nd Floor 5 High Street, Westbury On Trym, Bristol, England, BS9 3BY |