Registered Number: 08225465
England & Wales
PHYSIOTHERM LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
For the year ended
30 April 2023
A F KABINI & CO
Chartered Accountants
14 Conlan Street
London
W10 5AR
PHYSIOTHERM LIMITED
BALANCE SHEET
Aa at 30 April 2023
2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 3 - -
Current assets
Debtors 4 43,974 44,689
Cash at bank and in hand 2,882 10,206
46,856 54,895
Creditors - amounts falling due within one year 5 (23,941) (22,086)
Net current assets 22,915 32,809
Total assets less current liabilities 22,915 32,809
Creditors - amounts falling due after more than one year 6 (90,224) (90,300)
Provision for liabilities (4,228) (4,228)
Net liabilities (71,537) (61,719)
Capital and reserves
Called up share capital 195,000 195,000
Profit and loss account (266,537) (256,719)
Shareholder's deficit (71,537) (61,719)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit of its accounts in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Register of Companies.
Approved by the board on 30 September 2023 and signed on its behalf by:
Josef Gunsch
Director
The notes on pages 2 to 4 form an integral part of these accounts
Page 1
PHYSIOTHERM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 April 2023
1. Accounting policies
(a) Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
(b) Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
(c) Tangible fixed assets
Depreciation is calculated on a straight-line basis so as to write off the cost of tangible assets over their estimated useful lives as follows:
Plant and machinery etc 20% to 25% straight line
(d) Stock
Stock is valued at the lower of cost and net realisable value. Cost is determined on an actual cost basis. Net realisable value represents anticipated selling price less selling cost. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.
(e) Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised in full in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each accounting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
(f) Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
(g) Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the average rate for the month in which the transaction takes place. All differences are taken to the profit and loss account.
Page 2
PHYSIOTHERM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 April 2023
2. Employees 2023 2022
Number Number
Average number of persons employed by the company including directors 1 1
3. Tangible fixed assets
Plant and
machinery
etc. Total
£ £
Cost
At 1 May 2021 12,198 12,198
Additions - -
At 30 April 2022 12,198 12,198
Depreciation
At 1 May 2021 12,198 12,198
Charge for the year - -
At 30 April 2022 12,198 12,198
Net book value
At 30 April 2022 - -
At 30 April 2021 - -
4. Debtors: Amounts falling due within one year 2023 2022
£ £
Trade debtors 43,974 44,689
43,974 44,689
Page 3
PHYSIOTHERM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 April 2023
5. Creditors - amounts falling due within one year 2023 2022
£ £
Trade creditors 3,457 -
Taxation and social security costs 2,902 4,504
Accruals and deferred income 1,795 1,795
Other creditors 15,787 15,787
23,941 22,086
6. Creditors - amounts falling due after more than one year 2023 2022
£ £
Amounts owed to group undertakings and other participating interests 90,224 90,300
90,224 90,300
7. Related party disclosures 2023 2022
£ £
(a) Name of related party: Physiotherm Holding GmbH
Description of relationship: Parent undertaking
Description of transaction: Loans from related party
Amounts due to the related party: 74,763 71,552
(b) Name of related party: Physiotherm GmbH Thaur
Description of relationship: Group undertaking
Description of transaction: Loans from related party
Amounts due to the related party: 6,890 6,594
(c) Name of related party: Physiotherm GmbH Deutschland
Description of relationship: Group undertaking
Description of transaction: Loans from related party
Amounts due to the related party: 8,571 12,155
Page 4
PHYSIOTHERM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 April 2023
8. Controlling party
The company is controlled by Physiotherm Holding GmbH, a company incorporated in Austria, by virtue of its holding in the company.
9. Statutory information
The company is a private company limited by shares and incorporated in England. Its registered office is:
Suite 36
14 Conlan Street
London
W10 5AR
Page 5
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