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Registered number: 08634892
My Spine Chiropractic Ltd
Financial Statements
For The Year Ended 31 March 2024
Dale House 64 Fink Hill
Horsforth
Leeds
LS18 4DH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08634892
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 172,992 190,265
172,992 190,265
CURRENT ASSETS
Debtors 5 3,747 2,739
Cash at bank and in hand 50,887 111,609
54,634 114,348
Creditors: Amounts Falling Due Within One Year 6 (31,370 ) (50,531 )
NET CURRENT ASSETS (LIABILITIES) 23,264 63,817
TOTAL ASSETS LESS CURRENT LIABILITIES 196,256 254,082
Creditors: Amounts Falling Due After More Than One Year 7 (12,061 ) (18,499 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,221 ) (18,234 )
NET ASSETS 168,974 217,349
CAPITAL AND RESERVES
Called up share capital 9 180 180
Profit and Loss Account 168,794 217,169
SHAREHOLDERS' FUNDS 168,974 217,349
Page 1
Page 2
For the year ending 31 March 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 Profit and Loss Account.
On behalf of the board
Mr Amit Raju
Director
22nd July 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
My Spine Chiropractic Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08634892 . The registered office is 30 Chatsworth Road, Pudsey, West Yorkshire, LS28 8JX.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Freehold 2% Straight Line
Plant & Machinery 10% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 33% Reducing Balance
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 profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 102,210 50,396 57,190 18,635
Additions - - - -
Disposals - - - -
As at 31 March 2024 102,210 50,396 57,190 18,635
...CONTINUED
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Depreciation
As at 1 April 2023 7,286 12,409 13,726 6,827
Provided during the period 2,044 3,798 8,692 2,362
Disposals - - - -
As at 31 March 2024 9,330 16,207 22,418 9,189
Net Book Value
As at 31 March 2024 92,880 34,189 34,772 9,446
As at 1 April 2023 94,924 37,987 43,464 11,808
Computer Equipment Total
£ £
Cost
As at 1 April 2023 4,215 232,646
Additions 1,224 1,224
Disposals (913 ) (913 )
As at 31 March 2024 4,526 232,957
Depreciation
As at 1 April 2023 2,133 42,381
Provided during the period 788 17,684
Disposals (100 ) (100 )
As at 31 March 2024 2,821 59,965
Net Book Value
As at 31 March 2024 1,705 172,992
As at 1 April 2023 2,082 190,265
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,530 -
Other debtors 1,217 2,739
3,747 2,739
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 7,253 7,253
Trade creditors - (2 )
Other creditors 12,254 14,890
Taxation and social security 11,863 28,390
31,370 50,531
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 12,061 18,499
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 7,253 7,253
Later than one year and not later than five years 12,061 18,499
19,314 25,752
19,314 25,752
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
90 Ordinary A shares of £ 1.000 each 90 90
90 Ordinary B shares of £ 1.000 each 90 90
180 180
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