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REGISTERED NUMBER: 14957370 (England and Wales)















Unaudited Financial Statements

for the Period 23rd June 2023 to 30th June 2024

for

Crosby Practice Limited

Crosby Practice Limited (Registered number: 14957370)






Contents of the Financial Statements
for the Period 23rd June 2023 to 30th June 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Crosby Practice Limited (Registered number: 14957370)

Balance Sheet
30th June 2024

Notes £    £   
FIXED ASSETS
Intangible assets 4 2,936,548
Tangible assets 5 172,219
3,108,767

CURRENT ASSETS
Stocks 6 5,500
Debtors 7 230,452
Cash at bank 166,341
402,293
CREDITORS
Amounts falling due within one year 8 314,415
NET CURRENT ASSETS 87,878
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,196,645

CAPITAL AND RESERVES
Called up share capital 9 200
Share premium 3,150,866
Retained earnings 45,579
SHAREHOLDERS' FUNDS 3,196,645

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th June 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 15th January 2025 and were signed on its behalf by:





P A Doyle - Director


Crosby Practice Limited (Registered number: 14957370)

Notes to the Financial Statements
for the Period 23rd June 2023 to 30th June 2024

1. COMPANY INFORMATION

Crosby Practice Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 14957370

Registered office: The Lexicon
10-12 Mount Street
Manchester
United Kingdom
M2 5NT

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.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling , which is the functional currency of the company.
Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered .

Crosby Practice Limited (Registered number: 14957370)

Notes to the Financial Statements - continued
for the Period 23rd June 2023 to 30th June 2024

2. ACCOUNTING POLICIES - continued

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.

Development costs are being amortised evenly over their estimated useful life of nil years.

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

Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful life.

Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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 period 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.

Hire purchase and leasing commitments
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 period was 11 .

Crosby Practice Limited (Registered number: 14957370)

Notes to the Financial Statements - continued
for the Period 23rd June 2023 to 30th June 2024

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
Additions 3,110,819
At 30th June 2024 3,110,819
AMORTISATION
Amortisation for period 174,271
At 30th June 2024 174,271
NET BOOK VALUE
At 30th June 2024 2,936,548

On 23 June 2023, the company purchased the trade and assets of a sole trader known as Crosby Dental. The goodwill arising on acquisition is being amortised over its estimated useful economic life of 15 years.

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to Plant and and
property property machinery fittings Totals
£    £    £    £    £   
COST
Additions - - 13,348 8,369 21,717
Transfer to ownership 120,110 29,896 6,744 1,157 157,907
At 30th June 2024 120,110 29,896 20,092 9,526 179,624
DEPRECIATION
Charge for period - - 5,023 2,382 7,405
At 30th June 2024 - - 5,023 2,382 7,405
NET BOOK VALUE
At 30th June 2024 120,110 29,896 15,069 7,144 172,219

6. STOCKS
£   
Stocks 5,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Directors' current accounts 219,108
Prepayments 11,344
230,452

Crosby Practice Limited (Registered number: 14957370)

Notes to the Financial Statements - continued
for the Period 23rd June 2023 to 30th June 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 9,372
Tax 179,983
Social security and other taxes 2,496
Pensions payable 572
Other creditors (23 )
Deferred income 115,015
Accrued expenses 7,000
314,415

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary A 1 100
100 Ordinary B 1 100
200

The following shares were allotted and fully paid for cash at par during the period:

100 Ordinary A shares of 1 each
100 Ordinary B shares of 1 each

The shares rank pari passu in respect of voting, dividend and capital distribution rights.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30th June 2024:

£   
P A Doyle
Balance outstanding at start of period -
Amounts advanced 420,719
Amounts repaid (201,609 )
Amounts written off -
Amounts waived -
Balance outstanding at end of period 219,110

11. RELATED PARTY DISCLOSURES

During the period, total dividends of £334,410 were paid to the directors .

12. ULTIMATE CONTROLLING PARTY

The controlling party is P A Doyle.