Company Registration No. 6716626 (England and Wales)
FREEDOM CLINICS LTD
Unaudited accounts
for the year ended 31 December 2022
FREEDOM CLINICS LTD
Unaudited accounts
Contents
FREEDOM CLINICS LTD
Company Information
for the year ended 31 December 2022
Directors
Jason Patel
Reesha Sangani
Company Number
6716626 (England and Wales)
Registered Office
34 NORTH COLONNADE
CANARY WHARF
LONDON
E14 5HX
Accountants
Trimantic Accountants
1 Victor House
Barnet Road
London Colney
AL2 1BJ
FREEDOM CLINICS LTD
Statement of financial position
as at 31 December 2022
Tangible assets
2,592
33,378
Cash at bank and in hand
31,089
56,481
Creditors: amounts falling due within one year
(201,717)
(160,724)
Net current assets
32,252
11,972
Total assets less current liabilities
34,844
45,350
Creditors: amounts falling due after more than one year
(91,936)
(302,209)
Net liabilities
(57,092)
(256,859)
Called up share capital
26
26
Profit and loss account
(57,118)
(256,885)
Shareholders' funds
(57,092)
(256,859)
For the year ending 31 December 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 directors acknowledge their 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 of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by
Jason Patel
Director
Company Registration No. 6716626
FREEDOM CLINICS LTD
Notes to the Accounts
for the year ended 31 December 2022
FREEDOM CLINICS LTD is a private company, limited by shares, registered in England and Wales, registration number 6716626. The registered office is 34 NORTH COLONNADE, CANARY WHARF, LONDON, E14 5HX.
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 arises through one class of business, which is that of providing chiropractor, physiotherapy and osteopathic services and the sale of related products and represents amounts invoiced by the company in respect of sales completed during the period exclusive of VAT.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Straight line - 10 years
Plant & machinery
Straight line - 3 years
Fixtures & fittings
Straight line - 4 years
Computer equipment
Straight line - 3 years
Stocks represent chiropractor, physiotherapy and osteopathic products available for resale and are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.
FREEDOM CLINICS LTD
Notes to the Accounts
for the year ended 31 December 2022
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2022
15,019
164,103
718
179,840
At 31 December 2022
15,019
171,303
718
187,040
At 1 January 2022
12,735
133,200
527
146,462
Charge for the year
2,284
35,511
191
37,986
At 31 December 2022
15,019
168,711
718
184,448
At 31 December 2022
-
2,592
-
2,592
At 31 December 2021
2,284
30,903
191
33,378
Amounts falling due within one year
Trade debtors
171,516
85,744
Accrued income and prepayments
4,140
4,140
Other debtors
22,924
22,031
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
29,499
29,499
Trade creditors
35,463
19,663
Taxes and social security
60,197
29,720
Other creditors
59,077
64,246
FREEDOM CLINICS LTD
Notes to the Accounts
for the year ended 31 December 2022
7
Creditors: amounts falling due after more than one year
2022
2021
Other creditors
66,883
256,754
Allotted, called up and fully paid:
2,600 Ordinary shares of £0.01 each
26
26
9
Operating lease commitments
2022
2021
At 31 December 2022 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
95,000
95,000
Later than one year and not later than five years
380,000
285,000
Later than five years
182,083
277,083
10
Transactions with related parties
The company owes £66,882 (2021: £256,754) in respect of loans payable to Jason Patel, a director of the company.
12
Average number of employees
During the year the average number of employees was 8 (2021: 9).