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REGISTERED NUMBER: 14127053 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

CITY PSYCHOLOGY GROUP LIMITED

PREVIOUSLY KNOWN AS
MR PSYCHOLOGY LTD

CITY PSYCHOLOGY GROUP LIMITED (REGISTERED NUMBER: 14127053)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CITY PSYCHOLOGY GROUP LIMITED

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Dr L J Morrison





REGISTERED OFFICE: 94 Leonard Street
3rd Floor
London
EC2A 4RH





REGISTERED NUMBER: 14127053 (England and Wales)





ACCOUNTANTS: TC Group
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

CITY PSYCHOLOGY GROUP LIMITED (REGISTERED NUMBER: 14127053)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 24,000 27,000
Tangible assets 5 9,778 1,037
33,778 28,037

CURRENT ASSETS
Debtors 6 89,342 32,009
Cash at bank and in hand 2,868 63,006
92,210 95,015
CREDITORS
Amounts falling due within one year 7 (55,192 ) (30,808 )
NET CURRENT ASSETS 37,018 64,207
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,796

92,244

CREDITORS
Amounts falling due after more than one
year

8

(513,721

)

(365,000

)
NET LIABILITIES (442,925 ) (272,756 )

CAPITAL AND RESERVES
Called up share capital 10 344 2
Retained earnings (443,269 ) (272,758 )
SHAREHOLDERS' FUNDS (442,925 ) (272,756 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

CITY PSYCHOLOGY GROUP LIMITED (REGISTERED NUMBER: 14127053)

Balance Sheet - continued
31 May 2024


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 director and authorised for issue on 25 February 2025 and were signed by:





Dr L J Morrison - Director


CITY PSYCHOLOGY GROUP LIMITED (REGISTERED NUMBER: 14127053)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

City Psychology Group Limited 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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

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

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Plant & equipment
Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Computer equipment - 25% straight line

CITY PSYCHOLOGY GROUP LIMITED (REGISTERED NUMBER: 14127053)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Schedule 1A of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.


CITY PSYCHOLOGY GROUP LIMITED (REGISTERED NUMBER: 14127053)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Going concern
The directors have considered the company's financial resources and performance and believe that the company is well placed to manage its business risks successfully and that the company has adequate resources to continue in operational existence for the foreseeable future. Consequently, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 30,000
AMORTISATION
At 1 June 2023 3,000
Charge for year 3,000
At 31 May 2024 6,000
NET BOOK VALUE
At 31 May 2024 24,000
At 31 May 2023 27,000

CITY PSYCHOLOGY GROUP LIMITED (REGISTERED NUMBER: 14127053)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023 - 1,158 1,158
Additions 9,514 1,893 11,407
At 31 May 2024 9,514 3,051 12,565
DEPRECIATION
At 1 June 2023 - 121 121
Charge for year 1,903 763 2,666
At 31 May 2024 1,903 884 2,787
NET BOOK VALUE
At 31 May 2024 7,611 2,167 9,778
At 31 May 2023 - 1,037 1,037

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 33,736 24,252
Other debtors 55,606 7,757
89,342 32,009

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 36,115 28,640
Taxation and social security 3,993 2,168
Other creditors 15,084 -
55,192 30,808

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Other creditors 513,721 365,000

9. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 513,721 365,000

CITY PSYCHOLOGY GROUP LIMITED (REGISTERED NUMBER: 14127053)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
110 Ordinary £1 110 2
234 Series A £1 234 -
344 2

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

108 Ordinary shares of £1 each
234 Series A shares of £1 each

11. OTHER FINANCIAL COMMITMENTS

The company has issued loan notes with a total nominal value of £468,865 as at year end. These are repayable in installments over the next 5 years and incur an interest rate of 8% per annum. The loan notes are classified as financial liabilities and are initially recognized at amortized cost using the effective interest rate method.

12. RELATED PARTY DISCLOSURES

Included in other loans due after one year is an amount of £513,721 (2023: £365,000) due to the director for the loan notes issued by the company.