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Registration number: 09171212

REFLECT CLINIC LIMITED

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

REFLECT CLINIC LIMITED

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

REFLECT CLINIC LIMITED

Company Information

Directors

Joanna Lambe

Gerard Lambe

Registered office

64 Barrington Road
Altrincham
Greater Manchester
WA14 1HY

Accountants

Beans Accountants Ltd
Chartered Accountant
Suite F/22
The White House
Greenalls Avenue
Warrington
Cheshire
WA4 6HL

 

REFLECT CLINIC LIMITED

(Registration number: 09171212)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,472

16,815

Current assets

 

Debtors

5

75,320

42,915

Cash at bank and in hand

 

317,493

532,089

 

392,813

575,004

Creditors: Amounts falling due within one year

6

(117,973)

(269,262)

Net current assets

 

274,840

305,742

Net assets

 

282,312

322,557

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

282,212

322,457

Shareholders' funds

 

282,312

322,557

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 April 2024 and signed on its behalf by:
 

.........................................
Joanna Lambe
Director

 

REFLECT CLINIC LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
64 Barrington Road
Altrincham
Greater Manchester
WA14 1HY
England

The company did not exceed for two years in a row any of the two thresholds to not qualify as micro-entity, so the previous financial statements were submitted under the FRS 105 regulations.

These financial statements were authorised for issue by the Board on 23 April 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.

 

REFLECT CLINIC LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

2

Accounting policies (continued)

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.

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

Computer Equipment

Straight line over 3 years

Motor Vehicle

Straight line over 4 years

Other capital assets

Straight line over 3 years

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

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.

 

REFLECT CLINIC LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

2

Accounting policies (continued)

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 directors) during the year, was 3 (2022 - 2).

 

REFLECT CLINIC LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

15,602

51,490

67,092

Additions

7,849

-

7,849

At 31 July 2023

23,451

51,490

74,941

Depreciation

At 1 August 2022

12,033

38,244

50,277

Charge for the year

4,319

12,873

17,192

At 31 July 2023

16,352

51,117

67,469

Carrying amount

At 31 July 2023

7,099

373

7,472

At 31 July 2022

3,569

13,246

16,815

5

Debtors

Current

2023
£

2022
£

Prepayments

48,107

2,689

Other debtors

27,213

40,226

 

75,320

42,915

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

8,261

2,820

Taxation and social security

28,455

84,809

Accruals and deferred income

-

1,984

Other creditors

81,257

179,649

117,973

269,262

 

REFLECT CLINIC LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

£1 Ordinary Shares of £1 each

100

100

100

100

       

8

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £1,280.00 (2022 - £4,160.00) per each £1 Ordinary Shares

128,000

416,000

 

 

9

Related party transactions

 

REFLECT CLINIC LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

9

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,570

10,566

Contributions paid to money purchase schemes

115,200

148,000

127,770

158,566

10

Transition to FRS 102

The company has exceeded two of the three thresholds two years in a row: turnover over £632,000 and total assets on the balance sheet over £316,000.

Balance Sheet at 1 August 2021
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

Tangible assets

30,546

-

-

30,546

Current assets

Debtors

19,528

-

-

19,528

Cash at bank and in hand

435,960

-

-

435,960

455,488

-

-

455,488

Creditors: Amounts falling due within one year

(83,678)

-

-

(83,678)

Net current assets

371,810

-

-

371,810

Net assets

402,356

-

-

402,356

Capital and reserves

Called up share capital

(100)

-

-

(100)

Retained earnings

(402,256)

-

-

(402,256)

Total equity

(402,356)

-

-

(402,356)

 

REFLECT CLINIC LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

10

Transition to FRS 102 (continued)

Balance Sheet at 31 July 2022
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

Tangible assets

16,815

-

-

16,815

Current assets

Debtors

42,915

-

-

42,915

Cash at bank and in hand

532,089

-

-

532,089

575,004

-

-

575,004

Creditors: Amounts falling due within one year

(269,262)

-

-

(269,262)

Net current assets

305,742

-

-

305,742

Net assets

322,557

-

-

322,557

Capital and reserves

Called up share capital

(100)

-

-

(100)

Retained earnings

(322,457)

-

-

(322,457)

Total equity

(322,557)

-

-

(322,557)