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Registered number: 13509782
Simply Oxygen Hyperbaric Chamber Rentals Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 13509782
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 231,739 117,560
231,739 117,560
CURRENT ASSETS
Debtors 5 35,500 43,500
Cash at bank and in hand 88,046 88,910
123,546 132,410
Creditors: Amounts Falling Due Within One Year 6 (234,711 ) (209,260 )
NET CURRENT ASSETS (LIABILITIES) (111,165 ) (76,850 )
TOTAL ASSETS LESS CURRENT LIABILITIES 120,574 40,710
Creditors: Amounts Falling Due After More Than One Year 7 (7,748 ) (14,010 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (44,031 ) (22,336 )
NET ASSETS 68,795 4,364
CAPITAL AND RESERVES
Called up share capital 9 100 100
Income Statement 68,695 4,264
SHAREHOLDERS' FUNDS 68,795 4,364
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Russell Way
Director
30/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Simply Oxygen Hyperbaric Chamber Rentals Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13509782 . The registered office is 8 Farington Acres Flat 8, Farington Acres, Vale Road, Weybridge, KT13 9NH.
The presentation currency is £ sterling.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of chambers and from the rental of chambers. Turnover from the sale of chambers is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rental of chambers is recognised by reference to the stage of completion of the contract.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery over 5 years
Motor Vehicles 15% reducing balance
Computer Equipment over 4 years
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 119,718 22,970 615 143,303
Additions 183,311 - 141 183,452
Disposals (12,247 ) - - (12,247 )
As at 29 February 2024 290,782 22,970 756 314,508
Depreciation
As at 1 March 2023 22,144 3,445 154 25,743
Provided during the period 56,357 2,929 189 59,475
Disposals (2,449 ) - - (2,449 )
As at 29 February 2024 76,052 6,374 343 82,769
...CONTINUED
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Net Book Value
As at 29 February 2024 214,730 16,596 413 231,739
As at 1 March 2023 97,574 19,525 461 117,560
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 35,500 43,500
35,500 43,500
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,262 5,512
Other creditors 213,399 198,482
Taxation and social security 15,050 5,266
234,711 209,260
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 7,748 14,010
7,748 14,010
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,262 5,512
Later than one year and not later than five years 7,748 14,010
14,010 19,522
14,010 19,522
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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