Company No: 01588643 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Guy Cunliffe Barlow
	Christopher Miles Jeffcoate
	Jonathan Paul Manser
	Patrick John Barry Mullin

SECRETARY

Patrick John Barry Mullin

REGISTERED OFFICE	Bridge Studios
	107a Hammersmith Bridge Road
	London
	W6 9DA
	United Kingdom

COMPANY NUMBER

01588643 (England and Wales)

ACCOUNTANT	Praxis
	1 Fore Street Avenue
	London
	EC2Y 9DT
	United Kingdom

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	56,147		78,182
		56,147		78,182
Current assets
Debtors	4	846,157		1,007,411
Cash at bank and in hand	5	387,762		601,115
		1,233,919		1,608,526
Creditors: amounts falling due within one year	6	( 616,219)		( 704,271)
Net current assets		617,700		904,255
Total assets less current liabilities		673,847		982,437
Creditors: amounts falling due after more than one year		( 16,973)		( 21,811)
Provision for liabilities	7	( 11,374)		( 8,505)
Net assets		645,500		952,121
Capital and reserves
Called-up share capital	8	1,000		1,000
Profit and loss account		644,500		951,121
Total shareholder's funds		645,500		952,121

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of The Manser Practice Limited (registered number: 01588643) were approved and authorised for issue by the Board of Directors on 26 September 2025. They were signed on its behalf by:

Jonathan Paul Manser Director

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

The Manser Practice 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 Bridge Studios, 107a Hammersmith Bridge Road, London, W6 9DA, 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 Balance Sheet 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 Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 over its expected useful life, as follows:

Plant and machinery etc.

3 - 6 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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	31		36

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	143,940		143,940
Additions	6,113		6,113
At 31 December 2024	150,053		150,053
Accumulated depreciation
At 01 January 2024	65,758		65,758
Charge for the financial year	28,148		28,148
At 31 December 2024	93,906		93,906
Net book value
At 31 December 2024	56,147		56,147
At 31 December 2023	78,182		78,182

4. Debtors

	2024		2023
	£		£
Trade debtors	574,438		726,782
Other debtors	271,719		280,629
	846,157		1,007,411

5. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	387,762		601,115

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	390,593		447,642
Amounts owed to Parent undertakings	43,216		43,216
Taxation and social security	82,683		118,429
Obligations under finance leases and hire purchase contracts	4,838		4,838
Other creditors	94,889		90,146
	616,219		704,271

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

7. Provision for liabilities

	2024		2023
	£		£
Deferred tax	11,374		8,505

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each	1,000		1,000

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2024		2023
	£		£
within one year	45,058		40,002
between one and five years	77,801		106,006
	122,859		146,008

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2024		2023
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	5,358		6,002

10. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Amounts owed to directors	12		329

The balances are interest free and repayable on demand.

Advances

A loan continued to be made to a director for £5,363 (at interest rate of 2.25%), the conditions are that the loan is interest free and repayable within 9 months. £0 has been repaid, £0 has been written off, and £0 has been waived.

Other related party transactions

	2024		2023
	£		£
Rental charges from a company under the control of a director	84,420		80,196
Interest free loan to the company under the control of a director	11,547		11,547
Interest free loan to an employee	106		0

11. Ultimate controlling party

Parent Company:

Manser Holdings Limited

Bridge Studios 107a, Hammersmith Bridge Road London, W6 9DA