Silverfin false 31/01/2023 01/02/2022 31/01/2023 A N Walker 23/01/2020 19 October 2023 The principal activity of the Company during the financial year was physiotherapy. 12422387 2023-01-31 12422387 bus:Director1 2023-01-31 12422387 2022-01-31 12422387 core:CurrentFinancialInstruments 2023-01-31 12422387 core:CurrentFinancialInstruments 2022-01-31 12422387 core:ShareCapital 2023-01-31 12422387 core:ShareCapital 2022-01-31 12422387 core:RetainedEarningsAccumulatedLosses 2023-01-31 12422387 core:RetainedEarningsAccumulatedLosses 2022-01-31 12422387 core:PlantMachinery 2022-01-31 12422387 core:PlantMachinery 2023-01-31 12422387 bus:OrdinaryShareClass1 2023-01-31 12422387 2022-02-01 2023-01-31 12422387 bus:FullAccounts 2022-02-01 2023-01-31 12422387 bus:SmallEntities 2022-02-01 2023-01-31 12422387 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 12422387 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 12422387 bus:Director1 2022-02-01 2023-01-31 12422387 core:PlantMachinery core:TopRangeValue 2022-02-01 2023-01-31 12422387 2021-02-01 2022-01-31 12422387 core:PlantMachinery 2022-02-01 2023-01-31 12422387 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 12422387 bus:OrdinaryShareClass1 2021-02-01 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12422387 (England and Wales)

FREEDOM PHYSIO LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2023
Pages for filing with the registrar

FREEDOM PHYSIO LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2023

Contents

FREEDOM PHYSIO LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 January 2023
FREEDOM PHYSIO LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,708 1,530
1,708 1,530
Current assets
Debtors 4 0 196
Cash at bank and in hand 9,031 2,138
9,031 2,334
Creditors: amounts falling due within one year 5 ( 23,583) ( 10,316)
Net current liabilities (14,552) (7,982)
Total assets less current liabilities (12,844) (6,452)
Net liabilities ( 12,844) ( 6,452)
Capital and reserves
Called-up share capital 6 10 10
Profit and loss account ( 12,854 ) ( 6,462 )
Total shareholder's deficit ( 12,844) ( 6,452)

For the financial year ending 31 January 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Freedom Physio Limited (registered number: 12422387) were approved and authorised for issue by the Director on 19 October 2023. They were signed on its behalf by:

A N Walker
Director
FREEDOM PHYSIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
FREEDOM PHYSIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Freedom Physio Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Coach House, Geeston Road, Ketton, PE9 3RH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £12,844. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Transition to FRS 102

These financial statements for the year ended 31 January 2023 are the company's first financial statements prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The Date of transition was 1 February 2021. The reported position and performance for the previous period are not affected by the transition to FRS 102.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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. Financial assets classified as receivable within one year are not amortised.

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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 February 2022 2,040 2,040
Additions 688 688
At 31 January 2023 2,728 2,728
Accumulated depreciation
At 01 February 2022 510 510
Charge for the financial year 510 510
At 31 January 2023 1,020 1,020
Net book value
At 31 January 2023 1,708 1,708
At 31 January 2022 1,530 1,530

4. Debtors

2023 2022
£ £
Prepayments 0 196

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to director 22,569 9,516
Accruals 1,014 800
23,583 10,316

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10 Ordinary shares of £ 1.00 each 10 10

7. Related party transactions

Transactions with the entity's director

At the balance sheet date the director has made loans to the company totalling £22,569 (2022: £9,516). This is an interest free loan, repayable on demand.