Victoria Practice Limited - Filleted accounts

Registered number

06517405

Victoria Practice Limited

Filleted Accounts

31 March 2025

Victoria Practice Limited
Registered number:		06517405
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		192,500			210,000
Tangible assets	4		33,631			31,049
			226,131			241,049

Current assets
Stocks		2,500			2,500
Debtors	5	745,899			695,120
Cash at bank and in hand		182,629			86,263
		931,028			783,883

Creditors: amounts falling due within one year	6	(73,019)			(88,355)

Net current assets			858,009			695,528

Total assets less current liabilities			1,084,140			936,577


Provisions for liabilities			(6,390)			(7,762)


Net assets			1,077,750			928,815

Capital and reserves
Called up share capital			100			100
Profit and loss account			1,077,650			928,715

Shareholder's funds			1,077,750			928,815

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 member has 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.




S P Edwards
Director
Approved by the board on 3 September 2025

Victoria Practice Limited
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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	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:

	Plant and machinery	20% reducing balance
	Fixtures, fittings, tools and equipment	20% reducing balance
	Computer equipment	25% straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	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.

	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		5		5


3	Intangible fixed assets				£
	Goodwill:

	Cost
	At 1 April 2024				350,000
	At 31 March 2025				350,000

	Amortisation
	At 1 April 2024				140,000
	Provided during the year				17,500
	At 31 March 2025				157,500

	Net book value
	At 31 March 2025				192,500
	At 31 March 2024				210,000

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 April 2024				109,206
	Additions				9,949
	At 31 March 2025				119,155

	Depreciation
	At 1 April 2024				78,157
	Charge for the year				7,367
	At 31 March 2025				85,524

	Net book value
	At 31 March 2025				33,631
	At 31 March 2024				31,049


5	Debtors		2025		2024
£				£

	Amounts owed by group undertakings and undertakings in which the company has a participating interest		737,795		681,615
	Other debtors		8,104		13,505
			745,899		695,120


6	Creditors: amounts falling due within one year		2025		2024
£				£

	Bank loans and overdrafts		-		99
	Trade creditors		5,687		17,686
	Taxation and social security costs		63,842		64,346
	Other creditors		3,490		6,224
			73,019		88,355


7	Other information

	Victoria Practice Limited is a private company limited by shares and incorporated in England. Its registered office is:
	The Health House
	11 St. Johns Road
	Cosham
	Portsmouth
	PO6 2DP