IRIS Accounts Production v24.2.0.383 02212735 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh022127352023-03-31022127352024-03-31022127352023-04-012024-03-31022127352022-03-31022127352022-04-012023-03-31022127352023-03-3102212735ns15:EnglandWales2023-04-012024-03-3102212735ns14:PoundSterling2023-04-012024-03-3102212735ns10:Director12023-04-012024-03-3102212735ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3102212735ns10:SmallEntities2023-04-012024-03-3102212735ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3102212735ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3102212735ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3102212735ns10:FullAccounts2023-04-012024-03-310221273512023-04-012024-03-3102212735ns10:Director32023-04-012024-03-3102212735ns10:Director42023-04-012024-03-3102212735ns10:Director52023-04-012024-03-3102212735ns10:CompanySecretary12023-04-012024-03-3102212735ns10:RegisteredOffice2023-04-012024-03-3102212735ns5:CurrentFinancialInstruments2024-03-3102212735ns5:CurrentFinancialInstruments2023-03-3102212735ns5:Non-currentFinancialInstruments2024-03-3102212735ns5:Non-currentFinancialInstruments2023-03-3102212735ns5:ShareCapital2024-03-3102212735ns5:ShareCapital2023-03-3102212735ns5:SharePremium2024-03-3102212735ns5:SharePremium2023-03-3102212735ns5:CapitalRedemptionReserve2024-03-3102212735ns5:CapitalRedemptionReserve2023-03-3102212735ns5:RetainedEarningsAccumulatedLosses2024-03-3102212735ns5:RetainedEarningsAccumulatedLosses2023-03-3102212735ns5:NetGoodwill2023-04-012024-03-3102212735ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3102212735ns5:ComputerSoftware2023-04-012024-03-3102212735ns5:PlantMachinery2023-04-012024-03-3102212735ns5:NetGoodwill2023-03-3102212735ns5:IntangibleAssetsOtherThanGoodwill2023-03-3102212735ns5:NetGoodwill2024-03-3102212735ns5:IntangibleAssetsOtherThanGoodwill2024-03-3102212735ns5:NetGoodwill2023-03-3102212735ns5:IntangibleAssetsOtherThanGoodwill2023-03-3102212735ns5:LandBuildings2023-03-3102212735ns5:PlantMachinery2023-03-3102212735ns5:LandBuildings2023-04-012024-03-3102212735ns5:LandBuildings2024-03-3102212735ns5:PlantMachinery2024-03-3102212735ns5:LandBuildings2023-03-3102212735ns5:PlantMachinery2023-03-3102212735ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3102212735ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: 02212735 (England and Wales)
















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PRACCTICE LIMITED

PRACCTICE LIMITED (REGISTERED NUMBER: 02212735)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRACCTICE LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2024







DIRECTORS: M D French
C F Goldsby
N L Orme
J Taylor





SECRETARY: J Taylor





REGISTERED OFFICE: Suite 1 Falstaff House
Sandys Road
Malvern
Worcestershire
WR14 1JJ





REGISTERED NUMBER: 02212735 (England and Wales)





ACCOUNTANTS: Crane & Partners
Chartered Accountants
Leonard House
5 - 7 Newman Road
Bromley
Kent
BR1 1RJ

PRACCTICE LIMITED (REGISTERED NUMBER: 02212735)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 92,033 136,490
Tangible assets 5 337,245 345,796
429,278 482,286

CURRENT ASSETS
Debtors 6 532,681 625,562
Cash at bank 492,986 648,593
1,025,667 1,274,155
CREDITORS
Amounts falling due within one year 7 694,763 636,697
NET CURRENT ASSETS 330,904 637,458
TOTAL ASSETS LESS CURRENT
LIABILITIES

760,182

1,119,744

CREDITORS
Amounts falling due after more than one
year

8

174,633

172,178
NET ASSETS 585,549 947,566

CAPITAL AND RESERVES
Called up share capital 20,140 20,140
Share premium 42,600 42,600
Capital redemption reserve 2,260 2,260
Retained earnings 520,549 882,566
585,549 947,566

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 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.

PRACCTICE LIMITED (REGISTERED NUMBER: 02212735)

BALANCE SHEET - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2024 and were signed on its behalf by:





M D French - Director


PRACCTICE LIMITED (REGISTERED NUMBER: 02212735)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024


1. STATUTORY INFORMATION

Pracctice 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 in 2018, 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.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. 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 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.

PRACCTICE LIMITED (REGISTERED NUMBER: 02212735)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

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 25 (2023 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 444,573 225,403 669,976
AMORTISATION
At 1 April 2023 308,083 225,403 533,486
Charge for year 44,457 - 44,457
At 31 March 2024 352,540 225,403 577,943
NET BOOK VALUE
At 31 March 2024 92,033 - 92,033
At 31 March 2023 136,490 - 136,490

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 380,759 1,046,001 1,426,760
DEPRECIATION
At 1 April 2023 48,606 1,032,358 1,080,964
Charge for year 4,616 3,935 8,551
At 31 March 2024 53,222 1,036,293 1,089,515
NET BOOK VALUE
At 31 March 2024 327,537 9,708 337,245
At 31 March 2023 332,153 13,643 345,796

PRACCTICE LIMITED (REGISTERED NUMBER: 02212735)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,888 13,142
Other debtors 524,793 612,420
532,681 625,562

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,000 24,444
Trade creditors 94,670 29,981
Taxation and social security 301,650 324,805
Other creditors 287,443 257,467
694,763 636,697

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 174,633 172,178

9. RELATED PARTY DISCLOSURES

During the year, fees amounting to £180,000 (2023: £180,000) were paid to Osprey Holding SLU for the services of J. Taylor.

Included in other debtors, at the year end was £487,521 (2023: £611,454) owed by J. Taylor. The company owed M. D. French £77,977 (2023: £55,067) at the year end.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Taylor.

The company is controlled by Osprey Holding SLU, a company registered in Andorra.