Grosvenor House Practice Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04624620 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

Grosvenor House Practice Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T W Brown

D R Whittaker

SECRETARY:

REGISTERED OFFICE:

Grosvenor House

Avening, Priory Park

London Road

GL8 8HZ

REGISTERED NUMBER:

04624620 (England and Wales)

ACCOUNTANTS:

Grosvenor House Practice Limited

Avening

Priory Park

Tetbury

Gloucestershire

GL8 8HZ

FIXED ASSETS

Intangible assets

4

25,000

50,000

Tangible assets

5

26,039

26,471

51,039

76,471

CURRENT ASSETS

Stocks

55,000

75,000

Debtors

151,705

97,999

Cash at bank and in hand

87,040

62,069

293,745

235,068

CREDITORS

Amounts falling due within one year

273,543

219,080

NET CURRENT ASSETS

20,202

15,988

TOTAL ASSETS LESS CURRENT LIABILITIES

71,241

92,459

CREDITORS

Amounts falling due after more than one year

63,142

83,353

NET ASSETS

8,099

9,106

CAPITAL AND RESERVES

Called up share capital

103

103

Retained earnings

7,996

9,003

8,099

9,106

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement and an abridged Balance Sheet for the year ended 30 June 2021 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 Board of Directors and authorised for issue on 8 February 2022 and were signed on its behalf by:

T W Brown - Director

1.	STATUTORY INFORMATION

Grosvenor 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

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 7 (2020 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2020

and 30 June 2021

418,192

AMORTISATION

At 1 July 2020

368,192

Amortisation for year

25,000

At 30 June 2021

393,192

NET BOOK VALUE

At 30 June 2021

25,000

At 30 June 2020

50,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2020

110,154

Additions

5,653

At 30 June 2021

115,807

DEPRECIATION

At 1 July 2020

83,683

Charge for year

6,085

At 30 June 2021

89,768

NET BOOK VALUE

At 30 June 2021

26,039

At 30 June 2020

26,471