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Registration number: 07171138

Parkhouse Psychology Service Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Parkhouse Psychology Service Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Parkhouse Psychology Service Limited

Company Information

Directors

J C Parkhouse

P Parkhouse

Registered office

Spencer House
6 Morston Court
Weston-Super-Mare
North Somerset
BS22 8NA

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Parkhouse Psychology Service Limited

(Registration number: 07171138)
Balance Sheet
29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,694

4,061

Current assets

 

Debtors

5

2,148

1,977

Cash at bank and in hand

 

101,552

97,552

 

103,700

99,529

Creditors: Amounts falling due within one year

6

(21,985)

(21,209)

Net current assets

 

81,715

78,320

Net assets

 

88,409

82,381

Capital and reserves

 

Called up share capital

2

2

Retained earnings

88,407

82,379

Shareholders' funds

 

88,409

82,381

 

Parkhouse Psychology Service Limited

(Registration number: 07171138)
Balance Sheet
29 February 2024

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 October 2024 and signed on its behalf by:
 

.........................................
P Parkhouse
Director

 

Parkhouse Psychology Service Limited

Notes to the Unaudited Financial Statements
Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Spencer House
6 Morston Court
Weston-Super-Mare
North Somerset
BS22 8NA

These financial statements were authorised for issue by the Board on 24 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Parkhouse Psychology Service Limited

Notes to the Unaudited Financial Statements
Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% per annum reducing balance

Equipment

33% per annum straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business and are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers and are recognised at transaction price. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Parkhouse Psychology Service Limited

Notes to the Unaudited Financial Statements
Year Ended 29 February 2024

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2023

10,843

6,455

17,298

Additions

-

5,900

5,900

At 29 February 2024

10,843

12,355

23,198

Depreciation

At 1 March 2023

8,023

5,214

13,237

Charge for the year

705

2,562

3,267

At 29 February 2024

8,728

7,776

16,504

Carrying amount

At 29 February 2024

2,115

4,579

6,694

At 28 February 2023

2,820

1,241

4,061

5

Debtors

2024
£

2023
£

Prepayments

2,148

1,977

2,148

1,977

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

17,044

17,085

Accruals and deferred income

1,440

1,160

Other creditors

3,501

2,964

21,985

21,209