Company Registration No. in England and Wales
10758967
Q PHYSIO LTD
TRADING AS
Q SPORTS PHYSIO
UNAUDITED FILLETED ACCOUNTS
31 May 2023
Q PHYSIO LTD
Registered number: 10758967
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 67,393 69,741
Current assets
Stocks 1,870 1,720
Debtors 4 5,500 5,500
Cash at bank and in hand 13,824 10,574
21,194 17,794
Creditors: amounts falling due within one year 5 (232,358) (228,206)
Net current liabilities (211,164) (210,412)
Total assets less current liabilities (143,771) (140,671)
Creditors: amounts falling due after more than one year 6 (30,903) (39,352)
Net liabilities (174,674) (180,023)
Capital and reserves
Called up share capital 100 100
Profit and loss account (174,774) (180,123)
Shareholders' funds (174,674) (180,023)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Amir Rezaei
Director
Approved by the board on 21 February 2024
Q PHYSIO LTD
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings Nil
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
No provision has been provided for corporation tax liability as company claimed brought forward losses against profit made from this trade.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2022 60,348 34,406 94,754
At 31 May 2023 60,348 34,406 94,754
Depreciation
At 1 June 2022 - 25,013 25,013
Charge for the year - 2,348 2,348
At 31 May 2023 - 27,361 27,361
Net book value
At 31 May 2023 60,348 7,045 67,393
At 31 May 2022 60,348 9,393 69,741
4 Debtors 2023 2022
£ £
Other debtors 5,500 5,500
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,680 (356)
Other creditors 230,678 228,562
232,358 228,206
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 30,903 39,352
7 Controlling party
Mr. Roy Hood, who holds a 50% shares in the company, serves as the ultimate controlling party as the director.
8 Other information
Q PHYSIO LTD is a private company limited by shares and incorporated in England. Its registered office is:
Knight Chadwick
243 Elgin Avenue
London
W9 1NJ
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