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Sage Accounts Production Advanced 2020 - FRS102_2019
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SC454799
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2022-03-31
SC454799
2022-03-31
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COMPANY REGISTRATION NUMBER:
SC454799
Filleted Unaudited Abridged Financial Statements |
|
Abridged Financial Statements |
|
Year ended 31 March 2022
Chartered accountant's report to the director on the preparation of the unaudited statutory abridged financial statements |
1 |
|
|
Abridged statement of financial position |
2 |
|
|
Notes to the abridged financial statements |
4 |
|
|
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
County Physio Ltd |
|
Year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of County Physio Ltd for the year ended 31 March 2022, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of County Physio Ltd in accordance with the terms of our engagement letter dated 27 June 2014. Our work has been undertaken solely to prepare for your approval the abridged financial statements of County Physio Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than County Physio Ltd and its director for our work or for this report.
It is your duty to ensure that County Physio Ltd has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and profit of County Physio Ltd. You consider that County Physio Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the abridged financial statements of County Physio Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory abridged financial statements.
CAMERON & CO
Chartered accountants
48 Court Street
Haddington
East Lothian
EH41 3NP
10 August 2022
Abridged Statement of Financial Position |
|
31 March 2022
Fixed assets
Tangible assets |
5 |
|
1,596 |
2,127 |
|
|
|
|
|
Current assets
Stocks |
1,326 |
|
1,370 |
Debtors |
450 |
|
574 |
Cash at bank and in hand |
32,555 |
|
36,162 |
|
-------- |
|
-------- |
|
34,331 |
|
38,106 |
|
|
|
|
Creditors: amounts falling due within one year |
11,590 |
|
8,712 |
|
-------- |
|
-------- |
Net current assets |
|
22,741 |
29,394 |
|
|
-------- |
-------- |
Total assets less current liabilities |
|
24,337 |
31,521 |
|
|
-------- |
-------- |
Net assets |
|
24,337 |
31,521 |
|
|
-------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
1 |
1 |
Profit and loss account |
|
24,336 |
31,520 |
|
|
-------- |
-------- |
Shareholders funds |
|
24,337 |
31,521 |
|
|
-------- |
-------- |
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.
Abridged Statement of Financial Position (continued) |
|
31 March 2022
These abridged financial statements were approved by the
board of directors
and authorised for issue on
23 August 2022
, and are signed on behalf of the board by:
Company registration number:
SC454799
Notes to the Abridged Financial Statements |
|
Year ended 31 March 2022
1.
General information
The company is a private company limited by shares, registered in SCOTLAND. The address of the registered office is 14 Church Street, Haddington, East Lothian, EH41 3EX.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant & Machinery |
- |
25% reducing balance |
|
Office Equipment |
- |
25% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Work in progress consists of treatments to be paid by insurance companies valued at cost plus element of profit at the year end.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2021:
1
).
5.
Tangible assets
|
£ |
Cost |
|
At 1 April 2021 and 31 March 2022 |
5,848 |
|
------- |
Depreciation |
|
At 1 April 2021 |
3,721 |
Charge for the year |
531 |
|
------- |
At 31 March 2022 |
4,252 |
|
------- |
Carrying amount |
|
At 31 March 2022 |
1,596 |
|
------- |
At 31 March 2021 |
2,127 |
|
------- |
|
|
6.
Related party transactions
There have been no transactions as are required to be disclosed under FRS 102 (1A).