Registered number
06348051
Iffley Turn Practice Ltd
Filleted Accounts
31 March 2025
Iffley Turn Practice Ltd
Registered number: 06348051
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 3,176 2,369
Investments 4 570,947 570,947
574,123 573,316
Current assets
Debtors 5 18,306 14,195
Investments held as current assets 6 1,500 1,500
Cash at bank and in hand 18,736 18,024
38,542 33,719
Creditors: amounts falling due within one year 7 (66,624) (61,819)
Net current liabilities (28,082) (28,100)
Total assets less current liabilities 546,041 545,216
Creditors: amounts falling due after more than one year 8 (505,930) (518,923)
Provisions for liabilities (677) (1,296)
Net assets 39,434 24,997
Capital and reserves
Called up share capital 18 18
Profit and loss account 39,416 24,979
Shareholders' funds 39,434 24,997
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.
T Bedford
Director
Approved by the board on 22 April 2025
Iffley Turn Practice Ltd
Notes to the Accounts
for the year ended 31 March 2025
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).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Fixtures, fittings and equipment over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 44,060
Additions 2,427
At 31 March 2025 46,487
Depreciation
At 1 April 2024 41,691
Charge for the year 1,620
At 31 March 2025 43,311
Net book value
At 31 March 2025 3,176
At 31 March 2024 2,369
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2024 570,947
At 31 March 2025 570,947
Historical cost
At 1 April 2024 570,947
At 31 March 2025 570,947
5 Debtors 2025 2024
£ £
Other debtors 18,306 14,195
6 Investments held as current assets 2025 2024
£ £
Fair value
Unlisted investments 1,500 1,500
7 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 12,417 11,842
Taxation and social security costs 43,765 39,999
Other creditors 10,442 9,978
66,624 61,819
8 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 305,930 318,923
Other creditors 200,000 200,000
505,930 518,923
9 Loans 2025 2024
£ £
Creditors include:
Secured bank loans 342,607 356,724
The bank loans are secured against property owned by 3 Church Cowley Road Ltd, a wholly owned subsidiary.
10 Related party transactions
The directors have incurred expenses on behalf of and advanced sums to the company. The amounts owed to the directors by the company are included within creditors.

In addition, loans totalling £200,000 were provided to the company by the directors to secure a mortgage during the year to 31 March 2018, to purchase 3 Church Cowley Road Ltd, a wholly owned subsidiary. These loans remain outstanding at year end.

Dividends of £118,000 (2024: £106,540) were paid to the directors during the year.
11 Controlling party
The company was under the joint control of Mr T Bedford, Mrs S Bedford and Mr B Ousey throughout the current year.
12 Other information
Iffley Turn Practice Ltd is a private company limited by shares and incorporated in England. Its registered office is:
3 Church Cowley Road
Oxford
OX4 3JR
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