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REGISTERED NUMBER: 07125672 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PERFECTLY ALIGNED CHIROPRACTIC CLINICS
LTD

PERFECTLY ALIGNED CHIROPRACTIC CLINICS
LTD (REGISTERED NUMBER: 07125672)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 7


PERFECTLY ALIGNED CHIROPRACTIC CLINICS
LTD (REGISTERED NUMBER: 07125672)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 61,215 106,833
61,215 106,833

CURRENT ASSETS
Stocks 350 350
Debtors 6 35,580 68,191
Cash at bank and in hand 181,314 30,463
217,244 99,004
CREDITORS
Amounts falling due within one year 7 (215,244 ) (139,497 )
NET CURRENT ASSETS/(LIABILITIES) 2,000 (40,493 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,215

66,340

PROVISIONS FOR LIABILITIES (14,963 ) (20,039 )
NET ASSETS 48,252 46,301

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 48,152 46,201
48,252 46,301

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PERFECTLY ALIGNED CHIROPRACTIC CLINICS
LTD (REGISTERED NUMBER: 07125672)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2024 and were signed on its behalf by:





H Knibbs - Director


PERFECTLY ALIGNED CHIROPRACTIC CLINICS
LTD (REGISTERED NUMBER: 07125672)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Eversleigh House, 497 Etruria Road, Basford, Stoke on Trent, Staffordshire, ST4 6JJ.

The principal activity of the company during the year was that of the provision of healthcare services.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Significant judgements and estimates
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.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual lives and residual values as evidenced by disposals during current and prior accounting periods.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.

Income is recognised in the period in which the service is provided.

Goodwill
Goodwill has been fully written down over 5 years.

PERFECTLY ALIGNED CHIROPRACTIC CLINICS
LTD (REGISTERED NUMBER: 07125672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold- over the remaining lease term
Plant and machinery- 20% on cost
Website- 20% on cost
Motor vehicles- 3 years straight line

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a 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.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


PERFECTLY ALIGNED CHIROPRACTIC CLINICS
LTD (REGISTERED NUMBER: 07125672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of fixed assets
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.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Employee benefits
The company provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expense in the profit and loss account in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 15 ) .

PERFECTLY ALIGNED CHIROPRACTIC CLINICS
LTD (REGISTERED NUMBER: 07125672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 60,536
AMORTISATION
At 1 January 2023
and 31 December 2023 60,536
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery Website vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 41,644 91,662 5,388 122,680 261,374
Additions - 5,803 - - 5,803
Disposals - - - (56,490 ) (56,490 )
At 31 December 2023 41,644 97,465 5,388 66,190 210,687
DEPRECIATION
At 1 January 2023 39,671 82,992 5,388 26,490 154,541
Charge for year 1,973 7,385 - 12,063 21,421
Eliminated on disposal - - - (26,490 ) (26,490 )
At 31 December 2023 41,644 90,377 5,388 12,063 149,472
NET BOOK VALUE
At 31 December 2023 - 7,088 - 54,127 61,215
At 31 December 2022 1,973 8,670 - 96,190 106,833

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 17,665 14,195
Amounts owed by group undertakings 10,151 51,653
Other debtors 3,548 -
Directors' loan accounts 1,846 2,343
Prepayments 2,370 -
35,580 68,191

Amounts owed from group companies are unsecured, interest free and repayable on demand.

PERFECTLY ALIGNED CHIROPRACTIC CLINICS
LTD (REGISTERED NUMBER: 07125672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 640 -
Tax 45,361 13,693
Social security and other taxes 7,864 7,346
Other creditors 35,385 23,810
Accruals and deferred income 125,994 94,648
215,244 139,497

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
A Knibbs and H Knibbs
Balance outstanding at start of year 2,343 (709 )
Amounts advanced 74,503 75,218
Amounts repaid (75,000 ) (72,166 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,846 2,343

The director had an interest free loan during the year. By virtue of the loan account, a liability to taxation exists under section 455 CTA 2010 in the sum of £623 which will be repaid or discharged when the loan is repaid. It is anticipated that the loan will be repaid within nine months of the year end and, as such, no provision for the taxation has been made.

9. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.

10. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Knibbs Holdings Limited, a company incorporated in England and Wales.