Registered number
03081548
The Occupational Psychology Centre Limited
Unaudited Filleted Accounts
31 July 2024
The Occupational Psychology Centre Limited
Registered number: 03081548
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 91,528 118,871
Current assets
Debtors 4 355,981 379,819
Cash at bank and in hand 1,037,375 1,065,409
1,393,356 1,445,228
Creditors: amounts falling due within one year 5 (143,865) (224,759)
Net current assets 1,249,491 1,220,469
Total assets less current liabilities 1,341,019 1,339,340
Provisions for liabilities (22,882) (29,718)
Net assets 1,318,137 1,309,622
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 1,308,137 1,299,622
Shareholders' funds 1,318,137 1,309,622
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J D Lawrence
Director
Approved by the board on 28 January 2025
The Occupational Psychology Centre Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The accounts are presented in Sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 5 years
Fixtures, fittings and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 13
3 Tangible fixed assets
Fixtures, fittings & equipment Motor vehicles Total
£ £ £
Cost
At 1 August 2023 146,822 121,565 268,387
Additions 5,499 - 5,499
At 31 July 2024 152,321 121,565 273,886
Depreciation
At 1 August 2023 133,227 16,289 149,516
Charge for the year 8,529 24,313 32,842
At 31 July 2024 141,756 40,602 182,358
Net book value
At 31 July 2024 10,565 80,963 91,528
At 31 July 2023 13,595 105,276 118,871
4 Debtors 2024 2023
£ £
Trade debtors 302,395 330,802
Other debtors 53,586 49,017
355,981 379,819
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 23,940 40,262
Taxation and social security costs 55,162 118,064
Other creditors 64,763 66,433
143,865 224,759
6 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 89,417 154,292
7 Other information
The Occupational Psychology Centre Limited is a private company limited by shares and incorporated in England. Its registered office is:
One Wellstones
Watford
Hertfordshire
WD17 2AE
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