Silverfin false false 30/09/2024 01/10/2023 30/09/2024 D Griffiths 25/07/2022 K Niklasson 21/09/2010 E Thomas 21/09/2010 14 April 2025 The principal activity of the company continued to be that of a graphic design consultancy. 07383330 2024-09-30 07383330 bus:Director1 2024-09-30 07383330 bus:Director2 2024-09-30 07383330 bus:Director3 2024-09-30 07383330 2023-09-30 07383330 core:CurrentFinancialInstruments 2024-09-30 07383330 core:CurrentFinancialInstruments 2023-09-30 07383330 core:Non-currentFinancialInstruments 2024-09-30 07383330 core:Non-currentFinancialInstruments 2023-09-30 07383330 core:ShareCapital 2024-09-30 07383330 core:ShareCapital 2023-09-30 07383330 core:RetainedEarningsAccumulatedLosses 2024-09-30 07383330 core:RetainedEarningsAccumulatedLosses 2023-09-30 07383330 core:FurnitureFittings 2023-09-30 07383330 core:OfficeEquipment 2023-09-30 07383330 core:FurnitureFittings 2024-09-30 07383330 core:OfficeEquipment 2024-09-30 07383330 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2024-09-30 07383330 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-09-30 07383330 bus:OrdinaryShareClass1 2024-09-30 07383330 bus:OrdinaryShareClass2 2024-09-30 07383330 2023-10-01 2024-09-30 07383330 bus:FilletedAccounts 2023-10-01 2024-09-30 07383330 bus:SmallEntities 2023-10-01 2024-09-30 07383330 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 07383330 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07383330 bus:Director1 2023-10-01 2024-09-30 07383330 bus:Director2 2023-10-01 2024-09-30 07383330 bus:Director3 2023-10-01 2024-09-30 07383330 core:FurnitureFittings 2023-10-01 2024-09-30 07383330 core:OfficeEquipment 2023-10-01 2024-09-30 07383330 2022-10-01 2023-09-30 07383330 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 07383330 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 07383330 bus:OrdinaryShareClass2 2023-10-01 2024-09-30 07383330 bus:OrdinaryShareClass2 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07383330 (England and Wales)

A PRACTICE FOR EVERYDAY LIFE LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

A PRACTICE FOR EVERYDAY LIFE LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

A PRACTICE FOR EVERYDAY LIFE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
A PRACTICE FOR EVERYDAY LIFE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 35,665 41,230
35,665 41,230
Current assets
Debtors 4 171,655 154,172
Cash at bank and in hand 184,774 178,441
356,429 332,613
Creditors: amounts falling due within one year 5, 9 ( 154,488) ( 160,226)
Net current assets 201,941 172,387
Total assets less current liabilities 237,606 213,617
Creditors: amounts falling due after more than one year 6 ( 4,800) ( 11,200)
Net assets 232,806 202,417
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 8 232,706 202,317
Total shareholders' funds 232,806 202,417

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of A Practice for Everyday Life Limited (registered number: 07383330) were approved and authorised for issue by the Board of Directors on 14 April 2025. They were signed on its behalf by:

K Niklasson
Director
A PRACTICE FOR EVERYDAY LIFE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
A PRACTICE FOR EVERYDAY LIFE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

A Practice for Everyday Life Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 37 Temple Street, , London, E2 6QQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

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

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from the net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 25 % reducing balance
Office equipment 25 % reducing balance
Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, loans , 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 fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 8

3. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 October 2023 169,850 39,700 209,550
Additions 2,458 3,386 5,844
At 30 September 2024 172,308 43,086 215,394
Accumulated depreciation
At 01 October 2023 140,375 27,945 168,320
Charge for the financial year 7,881 3,528 11,409
At 30 September 2024 148,256 31,473 179,729
Net book value
At 30 September 2024 24,052 11,613 35,665
At 30 September 2023 29,475 11,755 41,230

4. Debtors

2024 2023
£ £
Trade debtors 116,624 101,928
Amounts owed by connected companies 43,739 39,919
Other debtors 11,292 12,325
171,655 154,172

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 6,400 6,933
Trade creditors 10,718 11,453
Taxation and social security 71,450 86,922
Other creditors 65,920 54,918
154,488 160,226

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 4,800 11,200

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary A shares of £ 1.00 each 100.00 100.00
4 Ordinary B shares of £ 0.01 each (2023: 2 shares of £ 0.01 each) 0.04 0.02
100.04 100.02

On 25 June 2024, the company issued 2 Ordinary B Class Shares of £0.01.

8. Reserves

Profit and loss reserves

Retained earnings represents accumulated comprehensive Income for the period less dividends paid.

9. Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024 2023
£ £
56,178 85,488

10. Ultimate controlling party

The company is jointly controlled by E Thomas and K Niklasson.