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REGISTERED NUMBER: 07940982 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

DLFRANCIS LTD

DLFRANCIS LTD (REGISTERED NUMBER: 07940982)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DLFRANCIS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: D L Francis MBBS FRCS
L Francis





REGISTERED OFFICE: 3rd Floor
Lawford House
Albert Place
London
N3 1QA





REGISTERED NUMBER: 07940982 (England and Wales)





ACCOUNTANTS: Sterlings Ltd
Chartered Accountants
Lawford House
Albert Place
London
N3 1QA

DLFRANCIS LTD (REGISTERED NUMBER: 07940982)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 92,615 9,572
92,615 9,572

CURRENT ASSETS
Debtors 6 163,930 131,074
Cash at bank and in hand 1,042,204 951,921
1,206,134 1,082,995
CREDITORS
Amounts falling due within one year 7 (110,889 ) (92,361 )
NET CURRENT ASSETS 1,095,245 990,634
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,187,860

1,000,206

PROVISIONS FOR LIABILITIES (23,154 ) (1,819 )
NET ASSETS 1,164,706 998,387

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 1,164,406 998,087
SHAREHOLDERS' FUNDS 1,164,706 998,387

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DLFRANCIS LTD (REGISTERED NUMBER: 07940982)

BALANCE SHEET - continued
28 FEBRUARY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by:





D L Francis MBBS FRCS - Director


DLFRANCIS LTD (REGISTERED NUMBER: 07940982)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

DLFRANCIS LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced fees.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the medical practice conducted by Mr Daren. L. Francis MBBS FRCS on 12th April 2012, and valued at £265,000. The Goodwill was valued by R A Valuation Services Limited, (qualified valuers).

Goodwill is amortised over ten years on a straight-line basis.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets or liabilities like trade debtors, other debtors, trade creditors and other creditors, loans from banks or other third parties and loans to/from related parties.

Debt instruments that constitute a financing transaction are initially measured at fair value of future payments and subsequently at amortised cost using the effective interest method. Debt instruments which are payable or receivable within one year such as trade debtors or trade creditors are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit & loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


DLFRANCIS LTD (REGISTERED NUMBER: 07940982)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 265,000
AMORTISATION
At 1 March 2022
and 28 February 2023 265,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

DLFRANCIS LTD (REGISTERED NUMBER: 07940982)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 31,405
Additions 91,693
At 28 February 2023 123,098
DEPRECIATION
At 1 March 2022 21,833
Charge for year 8,650
At 28 February 2023 30,483
NET BOOK VALUE
At 28 February 2023 92,615
At 28 February 2022 9,572

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 120,843 93,117
Other debtors 43,087 37,957
163,930 131,074

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 105,429 88,761
Other creditors 5,460 3,600
110,889 92,361

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
D L Francis MBBS FRCS and L Francis
Balance outstanding at start of year 17,323 19,247
Amounts advanced 1,924 -
Amounts repaid - (1,924 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,247 17,323

DLFRANCIS LTD (REGISTERED NUMBER: 07940982)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

9. RELATED PARTY DISCLOSURES

As at the balance sheet date, Dr D Francis and Dr L Francis, both directors, owed the company £19,247 - (2022 - £17,323).