Honiton Chiropractic Clinic Limited 13153662 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of a chiropractic clinic. Digita Accounts Production Advanced 6.30.9574.0 true true 13153662 2023-03-01 2024-02-29 13153662 2024-02-29 13153662 core:CurrentFinancialInstruments 2024-02-29 13153662 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 13153662 core:Goodwill 2024-02-29 13153662 core:FurnitureFittings 2024-02-29 13153662 1 2024-02-29 13153662 bus:SmallEntities 2023-03-01 2024-02-29 13153662 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13153662 bus:FullAccounts 2023-03-01 2024-02-29 13153662 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13153662 bus:RegisteredOffice 2023-03-01 2024-02-29 13153662 bus:Director1 2023-03-01 2024-02-29 13153662 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13153662 core:Goodwill 2023-03-01 2024-02-29 13153662 core:FurnitureFittings 2023-03-01 2024-02-29 13153662 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 13153662 countries:EnglandWales 2023-03-01 2024-02-29 13153662 1 2023-03-01 2024-02-29 13153662 2023-02-28 13153662 core:Goodwill 2023-02-28 13153662 core:FurnitureFittings 2023-02-28 13153662 1 2023-02-28 13153662 2022-03-01 2023-02-28 13153662 2023-02-28 13153662 core:CurrentFinancialInstruments 2023-02-28 13153662 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13153662 core:Goodwill 2023-02-28 13153662 core:FurnitureFittings 2023-02-28 13153662 1 2023-02-28 13153662 1 2022-03-01 2023-02-28 13153662 1 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 13153662

Honiton Chiropractic Clinic Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Honiton Chiropractic Clinic Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Honiton Chiropractic Clinic Limited

(Registration number: 13153662)
Statement of Financial Position as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

24,555

23,333

Tangible assets

5

32,554

18,019

 

57,109

41,352

Current assets

 

Stocks

6

400

290

Debtors

7

41,221

17,304

Cash at bank and in hand

 

15,476

21,662

 

57,097

39,256

Creditors: Amounts falling due within one year

8

(22,726)

(17,940)

Net current assets

 

34,371

21,316

Total assets less current liabilities

 

91,480

62,668

Provisions for liabilities

(8,139)

(3,424)

Net assets

 

83,341

59,244

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

83,241

59,144

Shareholders' funds

 

83,341

59,244

 

Honiton Chiropractic Clinic Limited

(Registration number: 13153662)
Statement of Financial Position as at 29 February 2024 (continued)

For the financial year ending 29 February 2024 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 their 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 Statement of Comprehensive Income.

Approved and authorised by the director on 2 April 2024
 


Austin Wells-Burr
Director

 

Honiton Chiropractic Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended
29 February 2024

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:
193 High Street
Honiton
Devon
EX14 1LQ

Principal activity

The principal activity of the company is that of a chiropractic clinic.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

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

 

Honiton Chiropractic Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended
29 February 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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 and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

 

Honiton Chiropractic Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended
29 February 2024 (continued)

2

Accounting policies (continued)

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

Fittings fixtures and equipment

20% 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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 year 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Honiton Chiropractic Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended
29 February 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2023 - 4).

 

Honiton Chiropractic Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended
29 February 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2023

40,000

40,000

Additions acquired separately

10,000

10,000

At 29 February 2024

50,000

50,000

Amortisation

At 1 March 2023

16,667

16,667

Amortisation charge

8,778

8,778

At 29 February 2024

25,445

25,445

Carrying amount

At 29 February 2024

24,555

24,555

At 28 February 2023

23,333

23,333

5

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 March 2023

26,858

26,858

Additions

22,672

22,672

At 29 February 2024

49,530

49,530

Depreciation

At 1 March 2023

8,839

8,839

Charge for the year

8,137

8,137

At 29 February 2024

16,976

16,976

Carrying amount

At 29 February 2024

32,554

32,554

At 28 February 2023

18,019

18,019

 

Honiton Chiropractic Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended
29 February 2024 (continued)

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

400

290

7

Debtors

2024
£

2023
£

Other debtors

38,713

15,636

Prepayments

2,508

1,668

41,221

17,304

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

49

28

Taxation and social security

17,464

14,820

Accruals and deferred income

3,340

2,790

Other creditors

1,873

302

22,726

17,940

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Honiton Chiropractic Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended
29 February 2024 (continued)

10

Related party transactions

Transactions with the director

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Director

15,635

63,348

(40,270)

38,713

         
       

 

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Director

(17,973)

71,308

(37,700)

15,635