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COMPANY REGISTRATION NUMBER: 08933487
Chesterfield Hydrotherapy Referral Centre Ltd
Filleted Unaudited Financial Statements
31 March 2023
Chesterfield Hydrotherapy Referral Centre Ltd
Financial Statements
Year ended 31 March 2023
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 7
Chesterfield Hydrotherapy Referral Centre Ltd
Officers and Professional Advisers
Director J V Palmer
- Director
Registered office
Unit 2 Foxwood Close
Foxwood Industrial Estate
Chesterfield
S41 9RB
Accountants
Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton in Ashfield
Nottinghamshire
NG17 4EA
Chesterfield Hydrotherapy Referral Centre Ltd
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
22,131
28,063
Current assets
Stocks
4,844
6,498
Debtors
5
2,061
Cash at bank and in hand
1,083
3,695
-------
--------
7,988
10,193
Creditors: amounts falling due within one year
6
97,092
108,207
--------
---------
Net current liabilities
89,104
98,014
--------
--------
Total assets less current liabilities
( 66,973)
( 69,951)
--------
--------
Net liabilities
( 66,973)
( 69,951)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 66,974)
( 69,952)
--------
--------
Shareholders deficit
( 66,973)
( 69,951)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Chesterfield Hydrotherapy Referral Centre Ltd
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 4 October 2023 , and are signed on behalf of the board by:
J V Palmer
Director
Company registration number: 08933487
Chesterfield Hydrotherapy Referral Centre Ltd
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2 Foxwood Close, Foxwood Industrial Estate, Chesterfield, S41 9RB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis. This may not be appropriate as the company had a balance sheet deficit of £66,973 at the 31st March 2022 (2021: £69,951). The company is therefore dependent on the continued support of its directors. Should this support be withdrawn and the company be unable to continue trading, adjustments would have to be made to reduce the value of the assets and their net realisable value and to provide any further liabilities which might arise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements
-
25% straight line
Plant and machinery
-
20% straight line
Fixtures and fittings
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
Debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4. Tangible assets
Property improvements
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 April 2022
31,477
31,088
5,614
68,179
Additions
2,094
2,094
--------
--------
-------
--------
At 31 March 2023
31,477
31,088
7,708
70,273
--------
--------
-------
--------
Depreciation
At 1 April 2022
30,529
6,218
3,369
40,116
Charge for the year
624
6,217
1,185
8,026
--------
--------
-------
--------
At 31 March 2023
31,153
12,435
4,554
48,142
--------
--------
-------
--------
Carrying amount
At 31 March 2023
324
18,653
3,154
22,131
--------
--------
-------
--------
At 31 March 2022
948
24,870
2,245
28,063
--------
--------
-------
--------
5. Debtors
2023
2022
£
£
Other debtors
2,061
-------
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
3,238
4,216
Other creditors
93,854
103,991
--------
---------
97,092
108,207
--------
---------
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
J V Palmer
( 102,008)
16,217
( 85,791)
---------
--------
----
--------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
J V Palmer
( 75,281)
4,361
( 31,088)
( 102,008)
--------
-------
--------
---------
Interest free and repayable on demand.