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Registration number: 07745071

Nailsea Physio Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Nailsea Physio Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Nailsea Physio Limited

Company Information

Director

Ms E Klijn

Registered office

73 Shaftsbury Close
Nailsea
Bristol
BS48 2QJ

Accountants

Newsham Hanson Accountants Limited
Advisors & Business Advisors
Edinburgh House
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP

 

Nailsea Physio Limited

(Registration number: 07745071)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

13,268

20,168

Current assets

 

Cash at bank and in hand

 

5,563

8,563

Creditors: Amounts falling due within one year

5

(9,023)

(11,040)

Net current liabilities

 

(3,460)

(2,477)

Total assets less current liabilities

 

9,808

17,691

Creditors: Amounts falling due after more than one year

5

(9,510)

(14,257)

Net assets

 

298

3,434

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

297

3,433

Shareholders' funds

 

298

3,434

For the financial year ending 31 August 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 February 2024
 

.........................................
Ms E Klijn
Director

 

Nailsea Physio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
73 Shaftsbury Close
Nailsea
Bristol
BS48 2QJ

These financial statements were authorised for issue by the director on 20 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Nailsea Physio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold

10% straight line

Fixtures and fittings

33.3% straight line

Motor vehicles

25% reducing balance

Office equipment

33.3% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Nailsea Physio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 2).

 

Nailsea Physio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

2,090

37,692

39,782

At 31 August 2023

2,090

37,692

39,782

Depreciation

At 1 September 2022

418

19,196

19,614

Charge for the year

209

6,691

6,900

At 31 August 2023

627

25,887

26,514

Carrying amount

At 31 August 2023

1,463

11,805

13,268

At 31 August 2022

1,672

18,496

20,168

Included within the net book value of tangible assets is £6,671 (2022 - £8,975) in respect of assets held under finance leases and similar hire purchase contracts. Depreciation for the year on these assets was £2,304(2022 - £2,304).

Included within the net book value of land and buildings above is £1,463 (2022 - £1,672) in respect of short leasehold land and buildings.
 

 

Nailsea Physio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

7

4,946

5,400

Amounts owed to related parties

53

89

Taxation and social security

 

91

-

Other creditors

 

3,933

5,551

 

9,023

11,040

Due after one year

 

Loans and borrowings

7

9,510

14,257

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

9,510

14,257

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

5,300

7,743

Finance lease liabilities

4,210

6,514

9,510

14,257

 

Nailsea Physio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

2,690

2,939

Finance lease liabilities

2,256

2,461

4,946

5,400