Company registration number 10848093 (England and Wales)
THE BODYLINE CLINIC HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
THE BODYLINE CLINIC HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
THE BODYLINE CLINIC HOLDINGS LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
863,543
1,084,006
Investments
4
100
100
863,643
1,084,106
Current assets
Debtors
86,846
74,408
Creditors: amounts falling due within one year
6
(2,022,667)
(1,733,795)
Net current liabilities
(1,935,821)
(1,659,387)
Total assets less current liabilities
(1,072,178)
(575,281)
Creditors: amounts falling due after more than one year
7
(961,281)
(1,026,094)
Net liabilities
(2,033,459)
(1,601,375)
Capital and reserves
Called up share capital
8
1,100
1,100
Share premium account
174,660
174,660
Profit and loss reserves
(2,209,219)
(1,777,135)
Total equity
(2,033,459)
(1,601,375)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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 by the board of directors and authorised for issue on 31 January 2024 and are signed on its behalf by:
Mr R  Cole
Director
Company Registration No. 10848093
THE BODYLINE CLINIC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 2 -
1
Accounting policies
Company information

The Bodyline Clinic Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, 44 Peter Street, Manchester, M2 5GP.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Despite the loss of £432,084, and the net liabilities of £1,935,821 these financial statements have been prepared on the going concern basis as it has been agreed that the Amounts owed to group companies will not be demanded if the company's other liabilities cannot first be met.true

 

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

THE BODYLINE CLINIC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

THE BODYLINE CLINIC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2022 and 30 September 2023
2,186,185
Amortisation and impairment
At 1 October 2022
1,102,179
Amortisation charged for the year
220,463
At 30 September 2023
1,322,642
Carrying amount
At 30 September 2023
863,543
At 30 September 2022
1,084,006
THE BODYLINE CLINIC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 5 -
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
100
100
THE BODYLINE CLINIC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 6 -
5
Subsidiaries

Details of the company's subsidiaries at 30 September 2023 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
The Bodyline Clinic Limited
England & Wales
Medical weight loss clinic
Ordinary
100.00
6
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
1,428,397
1,270,141
Other creditors
594,270
463,654
2,022,667
1,733,795
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
961,281
1,026,094
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
585
585
585
585
A Ordinary of £1 each
340
340
340
340
B Ordinary of £1 each
75
75
75
75
1,000
1,000
1,000
1,000
2023
2022
2023
2022
Preference share capital
Number
Number
£
£
Issued and fully paid
of £1 each
100
100
100
100
Preference shares classified as equity
100
100
Total equity share capital
1,100
1,100
THE BODYLINE CLINIC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Alison Buckley
Statutory Auditor:
Mitchell Charlesworth (Audit) Limited
10
Related party transactions

The following amounts were outstanding at the reporting end date:

The Bodyline Clinic Holdings Limited owed £1,428,397 (2022 - £1,270,141) to The Bodyline Clinic Limited. No interest has been charged on this balance.

2023-09-302022-10-01false31 January 2024CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedMs S TurnerMr R Cole108480932022-10-012023-09-30108480932023-09-30108480932022-09-3010848093core:NetGoodwill2023-09-3010848093core:NetGoodwill2022-09-3010848093core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3010848093core:CurrentFinancialInstrumentscore:WithinOneYear2022-09-3010848093core:Non-currentFinancialInstrumentscore:AfterOneYear2023-09-3010848093core:Non-currentFinancialInstrumentscore:AfterOneYear2022-09-3010848093core:CurrentFinancialInstruments2023-09-3010848093core:CurrentFinancialInstruments2022-09-3010848093core:ShareCapital2023-09-3010848093core:ShareCapital2022-09-3010848093core:SharePremium2023-09-3010848093core:SharePremium2022-09-3010848093core:RetainedEarningsAccumulatedLosses2023-09-3010848093core:RetainedEarningsAccumulatedLosses2022-09-3010848093core:ShareCapitalOrdinaryShares2023-09-3010848093core:ShareCapitalOrdinaryShares2022-09-3010848093bus:Director22022-10-012023-09-3010848093core:Goodwill2022-10-012023-09-30108480932021-10-012022-09-3010848093core:NetGoodwill2022-09-3010848093core:NetGoodwill2022-10-012023-09-3010848093core:Subsidiary12022-10-012023-09-3010848093core:Non-currentFinancialInstruments2023-09-3010848093core:Non-currentFinancialInstruments2022-09-3010848093bus:OrdinaryShareClass12022-10-012023-09-3010848093bus:OrdinaryShareClass22022-10-012023-09-3010848093bus:OrdinaryShareClass32022-10-012023-09-3010848093bus:PreferenceShareClass12022-10-012023-09-3010848093bus:OrdinaryShareClass12023-09-3010848093bus:OrdinaryShareClass12022-09-3010848093bus:OrdinaryShareClass22023-09-3010848093bus:OrdinaryShareClass22022-09-3010848093bus:OrdinaryShareClass32023-09-3010848093bus:OrdinaryShareClass32022-09-3010848093bus:PreferenceShareClass12023-09-3010848093bus:PreferenceShareClass12022-09-3010848093bus:PrivateLimitedCompanyLtd2022-10-012023-09-3010848093bus:SmallCompaniesRegimeForAccounts2022-10-012023-09-3010848093bus:FRS1022022-10-012023-09-3010848093bus:Audited2022-10-012023-09-3010848093bus:Director12022-10-012023-09-3010848093bus:FullAccounts2022-10-012023-09-30xbrli:purexbrli:sharesiso4217:GBP