Registration number: 03507173

The Pentelow Practice Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

The Pentelow Practice Limited

(Registration number: 03507173)
Balance Sheet as at 31 December 2024

	Note	2024 £		(As restated) 2023 £
Fixed assets
Intangible assets	4		-		81,967
Tangible assets	5		15,110		26,502
Other financial assets	6		837,798		885,684
			852,908		994,153
Current assets
Debtors	7	555,811		511,025
Other financial assets	6	106,041		83,433
Cash at bank and in hand		201,644		203,287
		863,496		797,745
Creditors: Amounts falling due within one year	8	(227,887)		(207,401)
Net current assets			635,609		590,344
Total assets less current liabilities			1,488,517		1,584,497
Provisions for liabilities			(123,000)		(108,000)
Net assets			1,365,517		1,476,497
Capital and reserves
Called up share capital	9	3,000		3,000
Retained earnings		1,362,517		1,473,497
Shareholders' funds			1,365,517		1,476,497

The Pentelow Practice Limited

(Registration number: 03507173)
Balance Sheet as at 31 December 2024

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 September 2025 and signed on its behalf by:
 

......................................... E V Oddy Director

The Pentelow Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o Watson Buckle Limited
York House
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PE

These financial statements were authorised for issue by the Board on 26 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of services and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the amount of revenue can be measured reliably and (c) it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

The Pentelow Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	3 year straight line basis
Office equipment	25% reducing balance basis
Fixture & Fittings	25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10 years straight line basis

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method, dividends on equity securities are recognised in income when receivable.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

The Pentelow Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, 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 for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2023 - 21).

The Pentelow Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	1,245,001	1,245,001
At 31 December 2024	1,245,001	1,245,001
Amortisation
At 1 January 2024	1,163,034	1,163,034
Amortisation charge	81,967	81,967
At 31 December 2024	1,245,001	1,245,001
Carrying amount
At 31 December 2024	-	-
At 31 December 2023	81,967	81,967

5	Tangible assets

	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 January 2024	108,696	60,481	169,177
At 31 December 2024	108,696	60,481	169,177
Depreciation
At 1 January 2024	100,294	42,381	142,675
Charge for the year	5,705	5,687	11,392
At 31 December 2024	105,999	48,068	154,067
Carrying amount
At 31 December 2024	2,697	12,413	15,110
At 31 December 2023	8,402	18,100	26,502

6	Investments (current and non-current)

	2024 £	2023 £
Non-current financial assets
Financial assets at fair value through profit and loss	837,798	885,684

	2024 £	2023 £
Current financial assets
Financial assets at fair value through profit and loss	106,041	83,433

The Pentelow Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Debtors

Current	2024 £	(As restated) 2023 £
Prepayments	12,233	11,158
Other debtors	543,578	499,867
	555,811	511,025

8

Creditors

	2024 £	(As restated) 2023 £
Due within one year
Trade creditors	-	10,455
Taxation and social security	211,455	166,116
Accruals and deferred income	13,017	21,144
Other creditors	3,415	9,686
	227,887	207,401

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary 'A' shares of £1 each	1,400	1,400	1,400	1,400
Ordinary 'B' shares of £1 each	1,000	1,000	1,000	1,000
Ordinary 'C' shares of £1 each	200	200	200	200
Ordinary 'D' shares of £1 each	200	200	200	200
Ordinary 'E' shares of £1 each	200	200	200	200
	3,000	3,000	3,000	3,000

10	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £12,914 (2023 - £11,804).

The Pentelow Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

11	Related party transactions

Summary of transactions with key management

Transactions with directors

2024	At 1 January 2024 £	Advances to director £	Repayments by director £	At 31 December 2024 £
Director's current accounts	154,684	612,704	(537,291)	230,097

2023	At 1 January 2023 £	Advances to director £	Repayments by director £	At 31 December 2023 £
Director's current accounts	105,482	300,702	(251,500)	154,684

12 Prior year adjustment

During the current year, the company identified an error of incorrect classification of directors' drawing as expenses for the year ended 31 December 2023. This resulted in an overstatement of expense and an understatement of profit after tax of £21,884 in 2023. In accordance with FRS 102, the prior year financial statements have been restated to reflect the correction of this error. The comparative figures for the year ended 31 December 2024 have been adjusted, and the opening balance of retained earnings for the year ended 31 December 2024 has been increased by £21,884.