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Company registration number: 07154941
Spinal Care Clinics Limited
Unaudited filleted financial statements
30 June 2022
Spinal Care Clinics Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Spinal Care Clinics Limited
Directors and other information
Directors Mrs Lill Raphael
Mr Ronen Raphael
Company number 07154941
Registered office 195 St Marys Lane
Upminster
Essex
RM14 3BU
Accountants Hunter & Co Ltd
195 St Marys Lane
Upminster
Essex
RM14 3BU
Spinal Care Clinics Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Spinal Care Clinics Limited
Year ended 30 June 2022
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 June 2022 which comprise the statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
....................................................
Hunter & Co Ltd
Chartered Certified Accountants
195 St Marys Lane
Upminster
Essex
RM14 3BU
18 August 2022
................................................
Date
Spinal Care Clinics Limited
Statement of financial position
30 June 2022
2022 2021
Note £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 899,809 880,053
_______ _______
899,809 880,053
Current assets
Stocks 7,559 6,094
Debtors 6 30,046 20,107
Cash at bank and in hand 419,797 364,339
_______ _______
457,402 390,540
Creditors: amounts falling due
within one year 7 ( 213,103) ( 192,104)
_______ _______
Net current assets 244,299 198,436
_______ _______
Total assets less current liabilities 1,144,108 1,078,489
Creditors: amounts falling due
after more than one year 8 ( 355,579) ( 385,727)
Provisions for liabilities ( 3,028) ( 1,045)
_______ _______
Net assets 785,501 691,717
_______ _______
Capital and reserves
Called up share capital 4 4
Revaluation reserve 20,000 -
Profit and loss account 765,497 691,713
_______ _______
Shareholders funds 785,501 691,717
_______ _______
For the year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These 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 income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 18 August 2022 , and are signed on behalf of the board by:
................................................. .................................................
Mrs Lill Raphael Mr Ronen Raphael
Director Director
.................................................
Date
Company registration number: 07154941
Spinal Care Clinics Limited
Notes to the financial statements
Year ended 30 June 2022
1. Accounting policies
Basis of preparation
The 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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 and machinery - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks arevalued at the lower of cost and net realiseable value, after making due allowances for obsolete and slow moving items.
Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
2. Operating profit
Operating profit is stated after charging/(crediting):
2022 2021
£ £
Depreciation of tangible assets 11,254 10,526
(Gain)/loss on disposal of tangible assets 73 -
Operating lease rentals 2,564 742
_______ _______
3. Employee numbers
The average number of persons employed by the company during the year amounted to 20 (2021: 15 ).
4. Intangible assets
Goodwill Total
£ £
Cost
At 1 July 2021 and 30 June 2022 216,156 216,156
_______ _______
Amortisation
At 1 July 2021 and 30 June 2022 216,156 216,156
_______ _______
Carrying amount
At 30 June 2022 - -
_______ _______
At 30 June 2021 - -
_______ _______
5. Tangible assets
Freehold property Plant and machinery Total
£ £ £
Cost
At 1 July 2021 863,873 130,724 994,597
Additions 20,000 11,083 31,083
Disposals - ( 11,834) ( 11,834)
_______ _______ _______
At 30 June 2022 883,873 129,973 1,013,846
_______ _______ _______
Depreciation
At 1 July 2021 - 114,544 114,544
Charge for the year - 11,254 11,254
Disposals - ( 11,761) ( 11,761)
_______ _______ _______
At 30 June 2022 - 114,037 114,037
_______ _______ _______
Carrying amount
At 30 June 2022 883,873 15,936 899,809
_______ _______ _______
At 30 June 2021 863,873 16,180 880,053
_______ _______ _______
6. Debtors
2022 2021
£ £
Trade debtors - 12,500
Other debtors 30,046 7,607
_______ _______
30,046 20,107
_______ _______
7. Creditors: amounts falling due within one year
2022 2021
£ £
Bank loans and overdrafts 45,720 45,720
Trade creditors 67,818 64,213
Corporation tax 93,907 75,871
Social security and other taxes 909 1,452
Other creditors 4,749 4,848
_______ _______
213,103 192,104
_______ _______
8. Creditors: amounts falling due after more than one year
2022 2021
£ £
Bank loans and overdrafts 355,579 385,727
_______ _______