Company registration number 13477662 (England and Wales)
ALLSPORTS THERAPY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
ALLSPORTS THERAPY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ALLSPORTS THERAPY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
Notes
£
£
Fixed assets
Tangible assets
4
31,740
Current assets
Debtors
5
1,382
Cash at bank and in hand
16,069
17,451
Creditors: amounts falling due within one year
6
(47,872)
Net current liabilities
(30,421)
Total assets less current liabilities
1,319
Provisions for liabilities
(1,137)
Net assets
182
Capital and reserves
Called up share capital
7
100
Profit and loss reserves
82
Total equity
182
ALLSPORTS THERAPY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 30 August 2022 and are signed on its behalf by:
Mr P J McIntyre
Director
Company Registration No. 13477662
ALLSPORTS THERAPY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Company information

Allsports Therapy Limited is a private company limited by shares incorporated in England and Wales. The registered office is Allsports Therapy, Kingsley House, Ganders Business Park, Forge Road, Kingsley, Bordon, England, GU35 9LU.

1.1
Reporting period

The current period of accounts are shorter than one year due to the company incorporating on 25 June 2021. Future year end accounts will therefore be not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the life of the lease
Fixtures and fittings
20% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

ALLSPORTS THERAPY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets. A provision is made for any impairment loss and taken to the profit and loss account.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company only enters into Basic financial instrument transactions.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

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

Current tax

The current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

ALLSPORTS THERAPY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in the tax assessments.

 

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.

 

The company's liability for current and deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2022
Number
Total
4
ALLSPORTS THERAPY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
- 6 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 25 June 2021
-
0
-
0
-
0
Additions
26,255
11,578
37,833
At 31 March 2022
26,255
11,578
37,833
Depreciation and impairment
At 25 June 2021
-
0
-
0
-
0
Depreciation charged in the period
4,630
1,463
6,093
At 31 March 2022
4,630
1,463
6,093
Carrying amount
At 31 March 2022
21,625
10,115
31,740
5
Debtors
2022
Amounts falling due within one year:
£
Trade debtors
40
Other debtors
1,342
1,382
6
Creditors: amounts falling due within one year
2022
£
Corporation tax
1,106
Other creditors
46,766
47,872
ALLSPORTS THERAPY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
- 7 -
7
Called up share capital
2022
2022
Ordinary share capital
Number
£
Issued and fully paid
Ordinary A of £1 each
25
25
Ordinary B of £1 each
25
25
Ordinary C of £1 each
25
25
Ordinary D of £1 each
25
25
100
100

Upon incorporation of the company 25 Ordinary A shares, 25 Ordinary B shares, 25 Ordinary C Shares and 25 Ordinary D shares were issued and paid at sub par.

2022-03-312021-06-25false15 September 2022CCH SoftwareCCH Accounts Production 2022.200No description of principal activityMr P J McIntyreMr J H ChuterMiss S L BullMrs L F Chuter134776622021-06-252022-03-31134776622022-03-3113477662core:LandBuildings2022-03-3113477662core:OtherPropertyPlantEquipment2022-03-3113477662core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3113477662core:CurrentFinancialInstruments2022-03-3113477662core:ShareCapital2022-03-3113477662core:RetainedEarningsAccumulatedLosses2022-03-3113477662core:ShareCapitalOrdinaryShares2022-03-3113477662bus:Director12021-06-252022-03-3113477662core:LeaseholdImprovements2021-06-252022-03-3113477662core:FurnitureFittings2021-06-252022-03-3113477662core:LandBuildings2021-06-2413477662core:OtherPropertyPlantEquipment2021-06-24134776622021-06-2413477662core:LandBuildings2021-06-252022-03-3113477662core:OtherPropertyPlantEquipment2021-06-252022-03-3113477662core:WithinOneYear2022-03-3113477662bus:PrivateLimitedCompanyLtd2021-06-252022-03-3113477662bus:SmallCompaniesRegimeForAccounts2021-06-252022-03-3113477662bus:FRS1022021-06-252022-03-3113477662bus:AuditExemptWithAccountantsReport2021-06-252022-03-3113477662bus:Director22021-06-252022-03-3113477662bus:Director32021-06-252022-03-3113477662bus:Director42021-06-252022-03-3113477662bus:FullAccounts2021-06-252022-03-31xbrli:purexbrli:sharesiso4217:GBP