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Company No: 09291708 (England and Wales)

DR FRANCES PRENNA JONES CLINIC LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

DR FRANCES PRENNA JONES CLINIC LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

DR FRANCES PRENNA JONES CLINIC LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 November 2023
DR FRANCES PRENNA JONES CLINIC LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 9,989 11,369
9,989 11,369
Current assets
Stocks 4 5,000 5,000
Debtors 5 524,957 377,899
Cash at bank and in hand 120,295 346,333
650,252 729,232
Creditors: amounts falling due within one year 6 ( 128,387) ( 111,859)
Net current assets 521,865 617,373
Total assets less current liabilities 531,854 628,742
Creditors: amounts falling due after more than one year 7 ( 47,572) ( 82,478)
Net assets 484,282 546,264
Capital and reserves
Called-up share capital 100 100
Profit and loss account 484,182 546,164
Total shareholder's funds 484,282 546,264

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Dr Frances Prenna Jones Clinic Limited (registered number: 09291708) were approved and authorised for issue by the Director. They were signed on its behalf by:

Dr Frances Prenna Jones
Director

06 April 2024

DR FRANCES PRENNA JONES CLINIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
DR FRANCES PRENNA JONES CLINIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dr Frances Prenna Jones Clinic Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 33 Shepherd Street, Mayfair, London, W1J 7HY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 3 years straight line
Fixtures and fittings 3 years straight line
Office equipment 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least tweleve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 3

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £ £
Cost
At 01 December 2022 15,191 114,192 9,380 3,343 0 142,106
Additions 0 0 0 0 520 520
At 30 November 2023 15,191 114,192 9,380 3,343 520 142,626
Accumulated depreciation
At 01 December 2022 4,555 114,192 8,715 3,275 0 130,737
Charge for the financial year 1,519 0 333 34 14 1,900
At 30 November 2023 6,074 114,192 9,048 3,309 14 132,637
Net book value
At 30 November 2023 9,117 0 332 34 506 9,989
At 30 November 2022 10,636 0 665 68 0 11,369

4. Stocks

2023 2022
£ £
Stocks 5,000 5,000

5. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 76,706 76,706
Other debtors 448,251 301,193
524,957 377,899

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 29,928 29,403
Trade creditors 24,883 42,593
Taxation and social security 56,736 31,051
Other creditors 16,840 8,812
128,387 111,859

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 47,572 82,478

There are no amounts included above in respect of which any security has been given by the small entity.

8. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 0 114

9. Related party transactions

Other related party transactions

The directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 December 2022, the balance owed to the director was £366. During the year, £412,745 was advanced to the director, and £255,168 was repaid by the director. At 30 November 2023, the balance owed by the director was £157,211.

As at 30 November 2023, there was a balance of £76,706 owed to a company with common shareholders.