REGISTERED NUMBER: 07195265 (England and Wales)

PARK HOUSE PRACTICE LIMITED

Financial Statements for the Year Ended 31st March 2025

Page

Company Information

1

Abridged Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTOR:

Dr A J Collins

SECRETARY:

Mrs H Collins

REGISTERED OFFICE:

c/o TG Associates, 7 Jardine House

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

REGISTERED NUMBER:

07195265 (England and Wales)

ACCOUNTANTS:

TG Associates Limited

Chartered Accountants

7 Jardine House

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

FIXED ASSETS

Intangible assets

4

-

72,005

Tangible assets

5

162,120

194,389

162,120

266,394

CURRENT ASSETS

Stocks

24,312

24,312

Debtors

134,011

115,910

Cash at bank and in hand

59,221

195,470

217,544

335,692

CREDITORS

Amounts falling due within one year

(101,475

)

(118,099

)

NET CURRENT ASSETS

116,069

217,593

TOTAL ASSETS LESS CURRENT LIABILITIES

278,189

483,987

CREDITORS

Amounts falling due after more than one year

6

(117,165

)

(148,883

)

NET ASSETS

161,024

335,104

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

100

100

Retained earnings

160,824

334,904

SHAREHOLDERS' FUNDS

161,024

335,104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10th December 2025 and were signed by:

Dr A J Collins - Director

1.	STATUTORY INFORMATION

Park House Practice Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents gross fees receivable from the principle activity of the company.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Equipment and fixtures

-

18% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2024

and 31st March 2025

1,080,000

AMORTISATION

At 1st April 2024

1,007,995

Amortisation for year

72,005

At 31st March 2025

1,080,000

NET BOOK VALUE

At 31st March 2025

-

At 31st March 2024

72,005

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2024

389,320

Additions

2,940

At 31st March 2025

392,260

DEPRECIATION

At 1st April 2024

194,931

Charge for year

35,209

At 31st March 2025

230,140

NET BOOK VALUE

At 31st March 2025

162,120

At 31st March 2024

194,389

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1st April 2024

and 31st March 2025

198,796

DEPRECIATION

At 1st April 2024

47,134

Charge for year

14,024

At 31st March 2025

61,158

NET BOOK VALUE

At 31st March 2025

137,638

At 31st March 2024

151,662

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.3.25

31.3.24

£

£

Repayable by instalments

Bank loans more 5 yr by instal

82,358

101,051

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Dr A J Collins.