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Company registration number: 11933963
Northallerton Osteopaths Limited
Unaudited filleted financial statements
30 April 2023
THE BARKER PARTNERSHIP
Chartered Accountants
Thirsk
Northallerton Osteopaths Limited
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
Northallerton Osteopaths Limited
Directors and other information
Directors Ms J Waterworth
Mr R Gemmell
Company number 11933963
Registered office Hale House
62 Thirsk Road
Northallerton
North Yorkshire
DL6 1PL
Accountants Barker Partnership
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
Northallerton Osteopaths Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Northallerton Osteopaths Limited
Year ended 30 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Northallerton Osteopaths Limited for the year ended 30 April 2023 which comprise the Balance sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Northallerton Osteopaths Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Northallerton Osteopaths Limited and state those matters that we have agreed to state to the board of directors of Northallerton Osteopaths Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Northallerton Osteopaths Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Northallerton Osteopaths Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Northallerton Osteopaths Limited. You consider that Northallerton Osteopaths Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Northallerton Osteopaths Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Barker Partnership
Chartered accountants
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
20 November 2023
Northallerton Osteopaths Limited
Balance sheet
30 April 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 46,055 35,356
Tangible assets 6 4,186 2,015
_______ _______
50,241 37,371
Current assets
Stocks 1,750 1,550
Debtors 7 11,500 9,779
Cash at bank and in hand 40 1,144
_______ _______
13,290 12,473
Creditors: amounts falling due
within one year 8 ( 18,405) ( 17,062)
_______ _______
Net current liabilities ( 5,115) ( 4,589)
_______ _______
Total assets less current liabilities 45,126 32,782
_______ _______
Net assets 45,126 32,782
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 45,026 32,682
_______ _______
Shareholders funds 45,126 32,782
_______ _______
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 November 2023 , and are signed on behalf of the board by:
Ms J Waterworth
Director
Company registration number: 11933963
Northallerton Osteopaths Limited
Notes to the financial statements
Year ended 30 April 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 Hale House, 62 Thirsk Road, Northallerton, North Yorkshire, DL6 1PL. The principal activity of the company is that of providing treatment facilities for Osteopaths.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 10 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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 stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2022: 7 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 May 2022 50,509 50,509
Additions 17,500 17,500
_______ _______
At 30 April 2023 68,009 68,009
_______ _______
Amortisation
At 1 May 2022 15,153 15,153
Charge for the year 6,801 6,801
_______ _______
At 30 April 2023 21,954 21,954
_______ _______
Carrying amount
At 30 April 2023 46,055 46,055
_______ _______
At 30 April 2022 35,356 35,356
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 May 2022 1,003 1,920 2,923
Additions - 4,346 4,346
Disposals ( 473) ( 1,920) ( 2,393)
_______ _______ _______
At 30 April 2023 530 4,346 4,876
_______ _______ _______
Depreciation
At 1 May 2022 387 521 908
Charge for the year 49 435 484
Disposals ( 182) ( 520) ( 702)
_______ _______ _______
At 30 April 2023 254 436 690
_______ _______ _______
Carrying amount
At 30 April 2023 276 3,910 4,186
_______ _______ _______
At 30 April 2022 616 1,399 2,015
_______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors - 738
Other debtors 11,500 9,041
_______ _______
11,500 9,779
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 794 199
Corporation tax 5,616 9,001
Other creditors 11,995 7,862
_______ _______
18,405 17,062
_______ _______
9. Related party transactions
During the year the Directors provided the company with interest free unsecured loans, which have no fixed repayment terms. The amount included in creditors is £4,482 (2022 - £6,162).