Registered number
12195062
The Therapy Company (UK) Ltd
Filleted Accounts
31 December 2023
The Therapy Company (UK) Ltd
Registered number: 12195062
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 30,000 35,000
Current assets
Work in progress 35,000 41,775
Debtors 4 - 28,850
Cash at bank and in hand 33,268 11,715
68,268 82,340
Creditors: amounts falling due within one year 5 (73,750) (27,070)
Net current (liabilities)/assets (5,482) 55,270
Total assets less current liabilities 24,518 90,270
Creditors: amounts falling due after more than one year 6 (24,632) (34,362)
Net (liabilities)/assets (114) 55,908
Capital and reserves
Called up share capital 100 100
Profit and loss account (214) 55,808
Shareholders' funds (114) 55,908
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr Haroon Moosa
Director
Approved by the board on 6 September 2024
The Therapy Company (UK) Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 50,000
At 31 December 2023 50,000
Amortisation
At 1 January 2023 15,000
Provided during the year 5,000
At 31 December 2023 20,000
Net book value
At 31 December 2023 30,000
At 31 December 2022 35,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Debtors 2023 2022
£ £
Trade debtors - 28,850
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,732 7,085
Directors loan account 40,000 -
Taxation and social security costs (9,200) 9,558
Accruals 31,718 10,350
Other creditors 1,500 77
73,750 27,070
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 24,632 34,362
7 Other information
The Therapy Company (UK) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
218 London Road
Blackburn
Lancashire
BB1 7NA
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