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REGISTERED NUMBER: 13854707 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Allesley Practice Limited

Allesley Practice Limited (Registered number: 13854707)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Allesley Practice Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: A D Price





REGISTERED OFFICE: Leofric House
18B Binley Road
Coventry
West Midlands
CV3 1JN





REGISTERED NUMBER: 13854707 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
Chartered Certified Accountants
Leofric House
Binley Road
Coventry
CV3 1JN

Allesley Practice Limited (Registered number: 13854707)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 524,570 524,570
Tangible assets 5 147,668 183,821
672,238 708,391

CURRENT ASSETS
Debtors 6 56,576 57,322
Cash at bank and in hand 98,371 27,274
154,947 84,596
CREDITORS
Amounts falling due within one year 7 227,945 124,662
NET CURRENT LIABILITIES (72,998 ) (40,066 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

599,240

668,325

CREDITORS
Amounts falling due after more than one
year

8

(546,353

)

(628,153

)

PROVISIONS FOR LIABILITIES (33,311 ) (42,214 )
NET ASSETS/(LIABILITIES) 19,576 (2,042 )

CAPITAL AND RESERVES
Called up share capital 12 1,600 1,600
Retained earnings 17,976 (3,642 )
SHAREHOLDERS' FUNDS 19,576 (2,042 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Allesley Practice Limited (Registered number: 13854707)

Statement of Financial Position - continued
31 March 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 director and authorised for issue on 27 August 2024 and were signed by:





A D Price - Director


Allesley Practice Limited (Registered number: 13854707)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Allesley 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 in 2023, is being amortised evenly over its estimated useful life of ten years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Allesley Practice Limited (Registered number: 13854707)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 15 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 524,570
NET BOOK VALUE
At 31 March 2024 524,570
At 31 March 2023 524,570

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 14,424 54,124 20,338
Additions - - 487
At 31 March 2024 14,424 54,124 20,825
DEPRECIATION
At 1 April 2023 - - -
Charge for year - 8,119 5,088
At 31 March 2024 - 8,119 5,088
NET BOOK VALUE
At 31 March 2024 14,424 46,005 15,737
At 31 March 2023 14,424 54,124 20,338

Allesley Practice Limited (Registered number: 13854707)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 91,823 4,068 184,777
Additions - 679 1,166
At 31 March 2024 91,823 4,747 185,943
DEPRECIATION
At 1 April 2023 956 - 956
Charge for year 22,717 1,395 37,319
At 31 March 2024 23,673 1,395 38,275
NET BOOK VALUE
At 31 March 2024 68,150 3,352 147,668
At 31 March 2023 90,867 4,068 183,821

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 33,404 90,753 124,157
DEPRECIATION
At 1 April 2023 - 956 956
Charge for year 5,011 22,449 27,460
At 31 March 2024 5,011 23,405 28,416
NET BOOK VALUE
At 31 March 2024 28,393 67,348 95,741
At 31 March 2023 33,404 89,797 123,201

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed by group undertakings - 1,335
Other debtors 800 1,796
Directors' current accounts - 22,054
Prepayments and accrued income 55,776 32,137
56,576 57,322

Allesley Practice Limited (Registered number: 13854707)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 9) 35,490 32,607
Other loans (see note 9) 24,000 24,000
Hire purchase contracts (see note 10) 27,212 27,212
Trade creditors 31,052 23,991
Tax 66,733 -
Pension Creditor - 2,227
Accrued expenses 43,458 14,625
227,945 124,662

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 9) 293,206 323,794
Other loans (see note 9) 190,609 214,609
Hire purchase contracts (see note 10) 62,538 89,750
546,353 628,153

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 183,938 214,521
Other loans more 5yrs instal 94,609 118,609
278,547 333,130

9. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 35,490 32,607
Other loans 24,000 24,000
59,490 56,607

Amounts falling due between one and two years:
Bank loans - 1-2 years 35,490 32,607
Other loans - 1-2 years 24,000 24,000
59,490 56,607

Allesley Practice Limited (Registered number: 13854707)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. LOANS - continued
31.3.24 31.3.23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 73,778 76,666
Other loans - 2-5 years 72,000 72,000
145,778 148,666

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 183,938 214,521
Other loans more 5yrs instal 94,609 118,609
278,547 333,130

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 27,212 27,212
Between one and five years 62,538 89,750
89,750 116,962

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank Loans 303,697 -
Hire Purchase 89,750 -
393,447 -

The above hire purchase agreements are secured against the assets in which the finance was acquired on.

The company has provided a fixed and floating charge over the assets of the company as well as a personal guarantee by the director A Price in respect of the bank loans.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary 1 1,600 1,600

Allesley Practice Limited (Registered number: 13854707)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

31.3.24 31.3.23
£    £   
A D Price
Balance outstanding at start of year 22,054 -
Amounts advanced 152,840 29,730
Amounts repaid (174,894 ) (7,676 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 22,054

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Alex Price by way of his majority shareholding in the parent company AP Practice Limited.