IRIS Accounts Production v24.3.0.553 07371619 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh073716192023-03-31073716192024-03-31073716192023-04-012024-03-31073716192022-03-31073716192022-04-012023-03-31073716192023-03-3107371619ns15:EnglandWales2023-04-012024-03-3107371619ns14:PoundSterling2023-04-012024-03-3107371619ns10:Director12023-04-012024-03-3107371619ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107371619ns10:SmallEntities2023-04-012024-03-3107371619ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3107371619ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107371619ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107371619ns10:FullAccounts2023-04-012024-03-3107371619ns10:OrdinaryShareClass12023-04-012024-03-3107371619ns10:Director22023-04-012024-03-3107371619ns10:CompanySecretary12023-04-012024-03-3107371619ns10:RegisteredOffice2023-04-012024-03-3107371619ns5:CurrentFinancialInstruments2024-03-3107371619ns5:CurrentFinancialInstruments2023-03-3107371619ns5:ShareCapital2024-03-3107371619ns5:ShareCapital2023-03-3107371619ns5:RetainedEarningsAccumulatedLosses2024-03-3107371619ns5:RetainedEarningsAccumulatedLosses2023-03-3107371619ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-3107371619ns5:FurnitureFittings2023-03-3107371619ns5:ComputerEquipment2023-03-3107371619ns5:ShortLeaseholdAssetsns5:LandBuildings2023-04-012024-03-3107371619ns5:FurnitureFittings2023-04-012024-03-3107371619ns5:ComputerEquipment2023-04-012024-03-3107371619ns5:ShortLeaseholdAssetsns5:LandBuildings2024-03-3107371619ns5:FurnitureFittings2024-03-3107371619ns5:ComputerEquipment2024-03-3107371619ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-3107371619ns5:FurnitureFittings2023-03-3107371619ns5:ComputerEquipment2023-03-3107371619ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107371619ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107371619ns5:WithinOneYear2024-03-3107371619ns5:WithinOneYear2023-03-3107371619ns5:BetweenOneFiveYears2024-03-3107371619ns5:BetweenOneFiveYears2023-03-3107371619ns5:AllPeriods2024-03-3107371619ns5:AllPeriods2023-03-3107371619ns5:DeferredTaxation2023-03-3107371619ns5:DeferredTaxation2024-03-3107371619ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 07371619 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

MCKEOWN PSYCHOLOGY ASSOCIATES LTD

MCKEOWN PSYCHOLOGY ASSOCIATES LTD (REGISTERED NUMBER: 07371619)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MCKEOWN PSYCHOLOGY ASSOCIATES LTD

Company Information
for the year ended 31 March 2024







DIRECTORS: J Carritt-Baker
J R McKeown





SECRETARY: J R McKeown





REGISTERED OFFICE: 17-18 Prince Albert Street
Brighton
East Sussex
BN1 1HF





REGISTERED NUMBER: 07371619 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

MCKEOWN PSYCHOLOGY ASSOCIATES LTD (REGISTERED NUMBER: 07371619)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,316 6,804

CURRENT ASSETS
Debtors 5 224,759 140,076
Cash at bank and in hand 15,312 66,828
240,071 206,904
CREDITORS
Amounts falling due within one year 6 (213,543 ) (182,051 )
NET CURRENT ASSETS 26,528 24,853
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,844

31,657

PROVISIONS FOR LIABILITIES 8 (1,292 ) (1,173 )
NET ASSETS 32,552 30,484

CAPITAL AND RESERVES
Called up share capital 9 900 900
Retained earnings 31,652 29,584
SHAREHOLDERS' FUNDS 32,552 30,484

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.

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 25 November 2024 and were signed on its behalf by:



J Carritt-Baker - Director


MCKEOWN PSYCHOLOGY ASSOCIATES LTD (REGISTERED NUMBER: 07371619)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Mckeown Psychology Associates Ltd 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 represents the fair value of consideration received or receivable net of VAT and trade discounts. Revenue from the sale of psychology services is recognised in the period of service.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements-over the period of the lease
Fixtures and fittings-20% on reducing balance
Computer equipment-20% on reducing balance

Financial instruments
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 entity after deducting all of its financial liabilities.

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.

MCKEOWN PSYCHOLOGY ASSOCIATES LTD (REGISTERED NUMBER: 07371619)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Impairment
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and Computer
improvements fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 26,780 3,762 8,811 39,353
Additions - 958 1,383 2,341
At 31 March 2024 26,780 4,720 10,194 41,694
DEPRECIATION
At 1 April 2023 26,780 2,035 3,734 32,549
Charge for year - 537 1,292 1,829
At 31 March 2024 26,780 2,572 5,026 34,378
NET BOOK VALUE
At 31 March 2024 - 2,148 5,168 7,316
At 31 March 2023 - 1,727 5,077 6,804

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 170,354 113,075
Other debtors 54,405 27,001
224,759 140,076

MCKEOWN PSYCHOLOGY ASSOCIATES LTD (REGISTERED NUMBER: 07371619)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 159,507 144,962
Taxation and social security 13,592 14,581
Other creditors 40,444 22,508
213,543 182,051

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 16,720 16,459
Between one and five years 3,802 20,900
20,522 37,359

The lease agreement is due to be reviewed in 2025 whereby there may be a change to the annual rent figure.

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,292 1,173

Deferred
tax
£   
Balance at 1 April 2023 1,173
Accelerated capital allowances 119
Balance at 31 March 2024 1,292

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
900 Ordinary £1 900 900