Company registration number 11007329 (England and Wales)
PENNY HAYLER PSYCHOLOGY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
PENNY HAYLER PSYCHOLOGY LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
PENNY HAYLER PSYCHOLOGY LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PENNY HAYLER PSYCHOLOGY LTD FOR THE YEAR ENDED 31 OCTOBER 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Penny Hayler Psychology Ltd for the year ended 31 October 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Penny Hayler Psychology Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Penny Hayler Psychology Ltd and state those matters that we have agreed to state to the board of directors of Penny Hayler Psychology Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Penny Hayler Psychology Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Penny Hayler Psychology Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Penny Hayler Psychology Ltd. You consider that Penny Hayler Psychology Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Penny Hayler Psychology Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Taylor Dawson Plumb Limited
Chartered Accountants
22 Regent Street
Nottingham
NG1 5BQ
18 July 2025
PENNY HAYLER PSYCHOLOGY LTD
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,772
1,181
Current assets
Debtors
4
13,399
5,977
Cash at bank and in hand
3,634
8,145
17,033
14,122
Creditors: amounts falling due within one year
5
(9,036)
(10,348)
Net current assets
7,997
3,774
Total assets less current liabilities
10,769
4,955
Provisions for liabilities
(526)
(224)
Net assets
10,243
4,731
Capital and reserves
Called up share capital
6
11
11
Profit and loss reserves
10,232
4,720
Total equity
10,243
4,731
The notes on pages 3 to 5 form part of these financial statements.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 18 July 2025
P Hayler
Director
Company Registration No. 11007329 (England and Wales)
PENNY HAYLER PSYCHOLOGY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
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1
Accounting policies
Company information
Penny Hayler Psychology Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 20 St Christopher's Way, Pride Park, Derby, Derbyshire, DE24 8JY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable from the provision of services provided in the normal course of business and is shown net of VAT and other sales related taxes.
The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:
Sale of services
Revenue is recognised upon delivery of the service and in accordance with agreed contracts and is adjusted to include the value of work done but not invoiced at the balance sheet date.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
33% on cost and 15% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.
PENNY HAYLER PSYCHOLOGY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023
2,017
Additions
2,085
At 31 October 2024
4,102
Depreciation and impairment
At 1 November 2023
836
Depreciation charged in the year
494
At 31 October 2024
1,330
Carrying amount
At 31 October 2024
2,772
At 31 October 2023
1,181
PENNY HAYLER PSYCHOLOGY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
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4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
13,329
5,822
Other debtors
70
155
13,399
5,977
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
5,687
6,987
Other creditors
3,349
3,361
9,036
10,348
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
10
10
10
10
Ordinary B of £1 each
1
1
1
1
11
11
11
11