Company Registration No. 07975156 (England and Wales)
MyPod Foot Clinic Ltd
Unaudited accounts
for the year ended 31 March 2023
MyPod Foot Clinic Ltd
Unaudited accounts
Contents
MyPod Foot Clinic Ltd
Company Information
for the year ended 31 March 2023
Company Number
07975156 (England and Wales)
Registered Office
573 Chester Road
Sutton Coldfield
West Midlands
B73 5HU
England
Accountants
Hive Accounting
Barnfield
Penshurst Road
Speldhurst
Kent
TN3 0PH
MyPod Foot Clinic Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
16,319
22,730
Cash at bank and in hand
7,493
3,347
Creditors: amounts falling due within one year
(14,933)
(10,920)
Net current liabilities
(5,085)
(5,465)
Total assets less current liabilities
11,234
17,265
Creditors: amounts falling due after more than one year
(8,029)
(12,179)
Provisions for liabilities
Deferred tax
(3,101)
(4,319)
Called up share capital
1
1
Profit and loss account
103
766
Shareholders' funds
104
767
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 November 2023 and were signed on its behalf by
N S Walia
Director
Company Registration No. 07975156
MyPod Foot Clinic Ltd
Notes to the Accounts
for the year ended 31 March 2023
MyPod Foot Clinic Ltd is a private company, limited by shares, registered in England and Wales, registration number 07975156. The registered office is 573 Chester Road, Sutton Coldfield, West Midlands, B73 5HU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on reducing balance
Fixtures & fittings
15% on reducing balance
Computer equipment
15% on reducing balance
Inventories have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items.
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 of deferred tax assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the rates and laws that have been enacted or substantively enacted by the statement of financial position date.
MyPod Foot Clinic Ltd
Notes to the Accounts
for the year ended 31 March 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts.
Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Hire purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
MyPod Foot Clinic Ltd
Notes to the Accounts
for the year ended 31 March 2023
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
33,917
9,182
1,743
44,842
Disposals
(7,243)
-
-
(7,243)
At 31 March 2023
26,674
9,182
2,770
38,626
At 1 April 2022
15,051
6,162
899
22,112
Charge for the year
2,774
453
374
3,601
On disposals
(3,406)
-
-
(3,406)
At 31 March 2023
14,419
6,615
1,273
22,307
At 31 March 2023
12,255
2,567
1,497
16,319
At 31 March 2022
18,866
3,020
844
22,730
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
2,662
2,662
Obligations under finance leases and hire purchase contracts
2,024
1,488
Trade creditors
1,211
1,424
Taxes and social security
8,162
4,686
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
372
1,860
MyPod Foot Clinic Ltd
Notes to the Accounts
for the year ended 31 March 2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's loan
-
1,097
-
1,097
The loan to the director is included within other debtors. It is repayable on demand and bears a nil interest rate.
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).