Company Registration No. 08138046 (England and Wales)
Independent Practice Management Ltd
Unaudited accounts
for the year ended 31 July 2022
Independent Practice Management Ltd
Unaudited accounts
Contents
Independent Practice Management Ltd
Company Information
for the year ended 31 July 2022
Company Number
08138046 (England and Wales)
Registered Office
4 Mimosa Drive
Fair Oak
Southampton
Hampshire
SO50 7LG
Accountants
TBT Accountancy Ltd
Westgate Chambers
Staple Gardens
Winchester
Hampshire
SO23 8SR
Independent Practice Management Ltd
Statement of financial position
as at 31 July 2022
Cash at bank and in hand
7,068
9,585
Creditors: amounts falling due within one year
(12,190)
(7,827)
Net current assets
7,443
10,037
Total assets less current liabilities
8,147
10,037
Creditors: amounts falling due after more than one year
(7,084)
(9,584)
Called up share capital
103
103
Profit and loss account
960
350
Shareholders' funds
1,063
453
For the year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 July 2023 and were signed on its behalf by
Sally Ghafoor
Director
Company Registration No. 08138046
Independent Practice Management Ltd
Notes to the Accounts
for the year ended 31 July 2022
Independent Practice Management Ltd is a private company, limited by shares, registered in England and Wales, registration number 08138046. The registered office is 4 Mimosa Drive , Fair Oak, Southampton , Hampshire , SO50 7LG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates (the company is not VAT registered).
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% reducing balance
Independent Practice Management Ltd
Notes to the Accounts
for the year ended 31 July 2022
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Accrued income and prepayments
412
18
Other debtors
12,153
8,261
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
2,500
2,500
Taxes and social security
9,030
4,797
7
Creditors: amounts falling due after more than one year
2022
2021
Business Bounce Back Loan
8
Transactions with related parties
Payments to the director during the year were £37,989 [2021: £30,836] and payments from the director were £34,119 [2021: £29,806]. The balance owed by the director at the year end was £12,153
Interest is charged at 2% and is repayable on demand.
9
Average number of employees
During the year the average number of employees was 1 (2021: 1).
