Registration number:
Dynamic Chiropractic Ltd
for the Year Ended 31 March 2023
Dynamic Chiropractic Ltd
(Registration number: 04670239)
Balance Sheet as at 31 March 2023
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2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Dynamic Chiropractic Ltd
(Registration number: 04670239)
Balance Sheet as at 31 March 2023
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account and the Director's Report.
Approved and authorised by the
......................................... |
Dynamic Chiropractic Ltd
Notes to the Financial Statements for the Year Ended 31 March 2023
General information |
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Government grants
Government Grants are recognised using the accrual model. Grants which relate to revenue shall be recognised in other operating income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.
Any amounts outstanding at the year end will be included within other debtors.
Tax
The tax expense for the period comprises current and deferred tax.
Dynamic Chiropractic Ltd
Notes to the Financial Statements for the Year Ended 31 March 2023
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company.
Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Depreciation
Depreciation is charged so as to write off the cost of an asset, less its residual value, over the estimated useful life of that asset, as follows:
Asset class |
Depreciation method and rate |
Fixtures, fittings and computer equipment |
25% reducing balance |
Motor vehicles |
straight line over the remaining term of the finance agreement |
Plant and equipment |
25% reducing balance |
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Dynamic Chiropractic Ltd
Notes to the Financial Statements for the Year Ended 31 March 2023
Tangible assets |
Fixtures, fittings and computer equipment |
Motor vehicles |
Plant and equipment |
Total |
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Cost or valuation |
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At 1 April 2022 |
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At 31 March 2023 |
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Depreciation |
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At 1 April 2022 |
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Charge for the year |
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At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
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At 31 March 2022 |
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Dynamic Chiropractic Ltd
Notes to the Financial Statements for the Year Ended 31 March 2023
Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
5,579 |
54,551 |
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Taxation and social security |
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Other creditors |
11,589 |
29,199 |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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- |
Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Hire purchase |
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2023 |
2022 |
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Non-current loans and borrowings |
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Hire purchase |
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- |
Dynamic Chiropractic Ltd
Notes to the Financial Statements for the Year Ended 31 March 2023
Related party transactions |
Other transactions with directors |
During the year, advances were made to the directors in the sum of £15,206 and repayments were made in the sum of £3,778. At the year end, the directors owed the company the amount of £19,477 (2022: £8,049) and this amount is included in other debtors. The loan was interest free and repayable on demand.