Registered number: 13069611
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The Rock Practice Limited
Financial statements
Information for filing with the registrar
31 May 2024
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The Rock Practice Limited
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Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of The Rock Practice Limited for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Rock Practice Limited for the year ended 31 May 2024 which comprise the balance sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the board of directors of The Rock Practice Limited, as a body, in accordance with the terms of our engagement letter dated 26 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of The Rock Practice Limited and state those matters that we have agreed to state to the board of directors of The Rock Practice Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Rock Practice Limited and its board of directors, as a body, for our work or for this report.
It is your duty to ensure that The Rock Practice Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Rock Practice Limited. You consider that The Rock Practice Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of The Rock Practice Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
UNW LLP
Chartered Accountants
Citygate
St James' Boulevard
Newcastle upon Tyne
NE1 4JE
4 February 2025
1
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The Rock Practice Limited
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Balance Sheet
At 31 May 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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2
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The Rock Practice Limited
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Balance Sheet (continued)
At 31 May 2024
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 February 2025.
Company registered number: 13069611
The notes on pages 4 to 7 form part of these financial statements.
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The Rock Practice Limited
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Notes to the financial statements
Year ended 31 May 2024
The company is a private company limited by shares, incorporated and registered in England and Wales. The address of the registered office is 14 The Rock Hotel, Yelverton, Devon, PL20 6DS.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The turnover shown in the profit and loss account represents NHS contract income, private fees and capitation schemes income receivable during the period.
Interest income is recognised in profit or loss using the effective interest method.
The estimated useful lives range as follows:
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
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Long-term leasehold property
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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The average monthly number of employees, including directors, during the year was 10 (2023: 8).
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4
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The Rock Practice Limited
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Notes to the financial statements
Year ended 31 May 2024
5
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The Rock Practice Limited
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Notes to the financial statements
Year ended 31 May 2024
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Long-term leasehold property
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Amounts owed by group undertakings
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Prepayments and accrued income
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6
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The Rock Practice Limited
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Notes to the financial statements
Year ended 31 May 2024
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Creditors: amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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Creditors: amounts falling due after more than one year
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Net obligations under finance leases and hire purchase contracts
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Related party transactions
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During the year the company operated an intercompany account with Lucy Stevens Limited. At 31 May 2024 the amount due to The Rock Practice Limited was £101,343 (2023: £8,182).
During the year the company operated an intercompany account with SS & RM Limited. At 31st May 2024 the amount due to The Rock Practice Limited was £57,668 (2023: £19,694 due from The Rock Practice Limited).
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7
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