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Private General Practice Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
The Laurel Partnership Ltd
16 Broad Street
Eye
Suffolk
IP23 7AF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12132052
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,425 15,233
11,425 15,233
CURRENT ASSETS
Debtors 5 566,939 59,180
Cash at bank and in hand 377,952 662,896
944,891 722,076
Creditors: Amounts Falling Due Within One Year 6 (79,040 ) (76,527 )
NET CURRENT ASSETS (LIABILITIES) 865,851 645,549
TOTAL ASSETS LESS CURRENT LIABILITIES 877,276 660,782
NET ASSETS 877,276 660,782
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 877,275 660,781
SHAREHOLDERS' FUNDS 877,276 660,782
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Simon Glew
Director
25/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Private General Practice Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12132052 . The registered office is 40 Wilbury Road, Hove, BN3 3JP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 12)
11 12
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 8,084 1,750 15,551 25,385
As at 31 March 2024 8,084 1,750 15,551 25,385
Depreciation
As at 1 April 2023 4,100 417 5,635 10,152
Provided during the period 996 333 2,479 3,808
As at 31 March 2024 5,096 750 8,114 13,960
Net Book Value
As at 31 March 2024 2,988 1,000 7,437 11,425
As at 1 April 2023 3,984 1,333 9,916 15,233
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 565 5,140
Amounts owed by group undertakings 566,374 -
Other debtors - 54,040
566,939 59,180
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 3,160
Other creditors 52,050 7,287
Taxation and social security 26,990 66,080
79,040 76,527
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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