Science Practice Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 07407806

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	3		2,393		3,069

			2,393		3,069
CURRENT ASSETS
Debtors	4	216,789		376,850
Cash at bank and in hand		36,960		153

		253,749		377,003
Creditors: Amounts Falling Due Within One Year	5	(136,471 )		(218,826 )

NET CURRENT ASSETS (LIABILITIES)			117,278		158,177

TOTAL ASSETS LESS CURRENT LIABILITIES			119,671		161,246

Creditors: Amounts Falling Due After More Than One Year	6		(49,860 )		(70,476 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(598 )		(767 )

NET ASSETS			69,213		90,003

CAPITAL AND RESERVES
Called up share capital	8		1		1
Profit and Loss Account			69,212		90,002

SHAREHOLDERS' FUNDS			69,213		90,003

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Science Practice Ltd

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr James King

Director

14th January 2026

The notes on pages 3 to 6 form part of these financial statements.

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

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

1.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

1.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

25% on cost

1.4. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

1.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

...CONTINUED

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Science Practice Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

1.5. Taxation - continued

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

1.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 6)

3. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 April 2024	14,688
Additions	1,083

As at 31 March 2025	15,771

Depreciation
As at 1 April 2024	11,619
Provided during the period	1,759

As at 31 March 2025	13,378

Net Book Value
As at 31 March 2025	2,393

As at 1 April 2024	3,069

4. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	58,332	99,059
Other debtors	158,457	277,791

	216,789	376,850

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Science Practice Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	16,911	9,315
Bank loans and overdrafts	23,428	21,187
Other creditors	-	66,918
Taxation and social security	96,132	121,406

	136,471	218,826

6. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	49,860	70,476

7. Secured Creditors

Bank loans are secured by fixed and floating charges covering all the property or undertaking of the company and contain negative pledge.

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr James King	109,771	130,837	(126,937 )	-	113,671

The above loan is unsecured, interest free and repayable on demand. The amount was repaid following the year end.

10. Related Party Transactions

During the year dividends of £90,906 (2024 - £38,000) were paid to the director.

As of 31 March 2025, the balance owed to the related party was nil (2024: 35,000), which is included in Other Creditors.

During the year, the company made sales to a related party, a company where Mr J King, a director of Sience Practice Ltd , is also a director.

Total sales to the related party amounted to £230,000 (2024: £55,000).

These transactions were conducted on an arm’s length basis and on normal commercial terms.

As of 31 March 2025, the balance owed from the related party was £13,260 which is included in debtors.

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Science Practice Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

11. Ultimate Controlling Party

The company's ultimate controlling party is Mr J King by virtue of his ownership of 100% of the issued share capital in the company.

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