Company registration number 03971338 (England and Wales)
FRANT ROAD CLINIC LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
PAGES FOR FILING WITH REGISTRAR
FRANT ROAD CLINIC LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
FRANT ROAD CLINIC LTD (REGISTERED NUMBER: 03971338)
BALANCE SHEET
- 1 -
2022
2021
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
211,202
241,651
Current assets
Stocks
4,658
12,561
Debtors
4
134,258
180,558
Cash at bank and in hand
2,317,873
2,503,187
2,456,789
2,696,306
Creditors: amounts falling due within one year
5
(270,363)
(278,327)
Net current assets
2,186,426
2,417,979
Net assets
2,397,628
2,659,630
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
2,396,628
2,658,630
Total equity
2,397,628
2,659,630
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 17 November 2023
Mr J A Bell
Director
FRANT ROAD CLINIC LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
- 2 -
1
Accounting policies
Company information
Frant Road Clinic Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 65 Frant Road, Tunbridge Wells, Kent, TN2 5LH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents trading income accrued during the period shown by these financial statements and excludes value added tax.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
in accordance with the property
Leasehold improvements
15% reducing balance
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
33% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
FRANT ROAD CLINIC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
1
Accounting policies
(Continued)
- 3 -
1.6
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.7
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
6
6
3
Tangible fixed assets
Freehold land and buildings
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
£
Cost
At 1 July 2021
118,878
474,720
518,734
56,229
71,949
1,240,510
Additions
454
454
At 30 June 2022
118,878
474,720
518,734
56,229
72,403
1,240,964
Depreciation and impairment
At 1 July 2021
23,491
413,994
437,192
56,229
67,953
998,859
Depreciation charged in the year
9,109
20,386
1,408
30,903
At 30 June 2022
23,491
423,103
457,578
56,229
69,361
1,029,762
Carrying amount
At 30 June 2022
95,387
51,617
61,156
3,042
211,202
At 30 June 2021
95,387
60,726
81,542
3,996
241,651
FRANT ROAD CLINIC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 4 -
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
4,996
81,918
Other debtors
129,262
98,640
134,258
180,558
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
33,664
1,747
Taxation and social security
33,443
30,824
Other creditors
203,256
245,756
270,363
278,327
6
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2022
2021
£
£
25,000
75,000
FRANT ROAD CLINIC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 5 -
7
Prior period adjustment
Reconciliation of changes in equity
1 July
30 June
2020
2021
£
£
Adjustments to prior year
Other debtors
-
(276,539)
Directors current account
-
54,674
Corporation tax
-
42,116
Total adjustments
-
(179,749)
Equity as previously reported
2,653,696
2,839,379
Equity as adjusted
2,653,696
2,659,630
Analysis of the effect upon equity
Profit and loss reserves
-
(179,749)
Notes to reconciliation
The comparative figures for the year ended 30 June 2021 have been restated to include expenditure misclassified as other debtors.