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Registration number: 08253510

Sevenoaks Physiotherapy Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Sevenoaks Physiotherapy Limited

Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

7,218

11,816

Current assets

 

Stocks

5

5,000

5,000

Debtors

6

502,521

441,563

Investments

7

51

50

Cash at bank and in hand

 

178,771

191,808

 

686,343

638,421

Creditors: Amounts falling due within one year

8

(82,693)

(115,620)

Net current assets

 

603,650

522,801

Total assets less current liabilities

 

610,868

534,617

Provisions for liabilities

(1,806)

(2,246)

Net assets

 

609,062

532,371

Capital and reserves

 

Called up share capital

6

6

Retained earnings

609,056

532,365

Shareholders' funds

 

609,062

532,371

For the financial 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.

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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Sevenoaks Physiotherapy Limited

Statement of Financial Position as at 31 March 2024

Approved and authorised by the Board on 17 September 2024 and signed on its behalf by:
 

.........................................

Mrs JR Nixon

Director

.........................................

Mr SJH Searby

Director

.........................................

Mrs C Searby

Director

.........................................

Mr AP Nixon

Director

Company registration number: 08253510

 

Sevenoaks Physiotherapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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:
c/o Brebners
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

The principal activity of the company is the provision of physiotherapy and allied health services.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the year ended 31 March 2024 and had net assets at that date amounting to £609,062 including cash at bank amounting to £178,771.

One the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue on the date that physiotherapy services are delivered.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Sevenoaks Physiotherapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Office and computer equipment

25% straight line

Physiotherapy equipment

25% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Sevenoaks Physiotherapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

Government grants

Grants are accounted for under the accruals model. Grants of a revenue nature are recognised in other income in the same period as related expenditure.

3

Staff numbers

The average number of persons employed by the company during the year, was 10 (2023 - 6).

4

Tangible assets

Office and computer equipment
£

Physiotherapy equipment
£

Total
£

Cost or valuation

At 1 April 2023

21,951

48,291

70,242

Additions

1,020

496

1,516

At 31 March 2024

22,971

48,787

71,758

Depreciation

At 1 April 2023

20,567

37,859

58,426

Charge for the year

921

5,193

6,114

At 31 March 2024

21,488

43,052

64,540

Carrying amount

At 31 March 2024

1,483

5,735

7,218

At 31 March 2023

1,384

10,432

11,816

 

Sevenoaks Physiotherapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Stocks

2024
£

2023
£

Stock

5,000

5,000

6

Debtors

2024
£

2023
£

Trade debtors

56,328

55,963

Other debtors

446,193

385,600

502,521

441,563

Other debtors includes an amount of £16,000 (2023: £16,000) recoverable in greater than one year.

7

Current asset investments

2024
£

2023
£

Other investments

51

50

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

 

45,780

41,191

Taxation and social security

 

33,122

33,702

Other creditors

 

3,791

40,727

 

82,693

115,620

9

Financial commitments, guarantees and contingencies

Operating leases

The company has commitments under non-cancellable operating leases not reflected in the statement of financial position amounting to £931,500 (2023 - £52,150).

10

Transactions with Directors

At 31 March 2024 an amount of £338,160 (2023: £279,006) was due from the directors. During the year there were advances of £75,000 and repayments of £22,500. Interest of £6,654 (2023: £5,033) is payable to the company at 2.25% p.a. There are no set terms in place.