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Registered number: 04449359
The Practice (Advertising & Marketing) Limited
Financial Statements
For The Year Ended 30 June 2024
Cound & Co LLP
Chartered Accountants
1 Princes Court Royal Way
Loughborough
LE11 5XR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04449359
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,916 8,451
8,916 8,451
CURRENT ASSETS
Debtors 5 47,857 27,348
Cash at bank and in hand 23,244 37,695
71,101 65,043
Creditors: Amounts Falling Due Within One Year 6 (37,065 ) (36,127 )
NET CURRENT ASSETS (LIABILITIES) 34,036 28,916
TOTAL ASSETS LESS CURRENT LIABILITIES 42,952 37,367
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,693 ) (1,605 )
NET ASSETS 41,259 35,762
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 41,159 35,662
SHAREHOLDERS' FUNDS 41,259 35,762
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S J Wigmore
Director
8th November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Practice (Advertising & Marketing) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04449359 . The registered office is 1 Princes Court, Royal Way, Loughborough, Leicestershire, LE11 5XR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% reducing balance
Computer Equipment 3 years straight line
2.4. Taxation
Taxation expense represents the sum of the tax currently payable and deferred tax.

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered a net liability may crystallise.

3. Average Number of Employees
Average number of employees, including directors, during the year was 4 (2023: 4)
4 4
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 5,837 21,814 27,651
Additions - 6,504 6,504
As at 30 June 2024 5,837 28,318 34,155
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 July 2023 4,950 14,250 19,200
Provided during the period 222 5,817 6,039
As at 30 June 2024 5,172 20,067 25,239
Net Book Value
As at 30 June 2024 665 8,251 8,916
As at 1 July 2023 887 7,564 8,451
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 45,395 24,800
Prepayments and accrued income 2,462 2,548
47,857 27,348
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,948 6,993
Corporation tax 15,121 15,519
Other taxes and social security 223 86
VAT 8,815 10,275
Accruals and deferred income 1,406 1,406
Directors' loan accounts 2,552 1,848
37,065 36,127
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4