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REGISTERED NUMBER: 06498461 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Physio Med Properties Limited

Physio Med Properties Limited (Registered number: 06498461)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Physio Med Properties Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M C Fletcher
P R C Clayton
J J Fletcher





SECRETARY: J J Fletcher





REGISTERED OFFICE: Chartered House
Gelderd Road
Wortley
Leeds
West Yorkshire
LS12 6DT





REGISTERED NUMBER: 06498461 (England and Wales)





ACCOUNTANTS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

Physio Med Properties Limited (Registered number: 06498461)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 774 910
Investment property 5 540,000 540,000
540,774 540,910

CURRENT ASSETS
Debtors 6 4,753 11,862
Cash at bank 45,382 39,332
50,135 51,194
CREDITORS
Amounts falling due within one year 7 408,261 448,592
NET CURRENT LIABILITIES (358,126 ) (397,398 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

182,648

143,512

PROVISIONS FOR LIABILITIES 193 228
NET ASSETS 182,455 143,284

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 182,452 143,281
SHAREHOLDERS' FUNDS 182,455 143,284

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.

Physio Med Properties Limited (Registered number: 06498461)

Balance Sheet - 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 25 September 2024 and were signed on its behalf by:





P R C Clayton - Director


Physio Med Properties Limited (Registered number: 06498461)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Physio Med Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is represented by rents receivable during the normal course of property letting.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial instruments are recognised at amortised costs. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

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

Physio Med Properties Limited (Registered number: 06498461)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 156,760
DEPRECIATION
At 1 January 2023 155,850
Charge for year 136
At 31 December 2023 155,986
NET BOOK VALUE
At 31 December 2023 774
At 31 December 2022 910

The investment property is revalued annually by the directors on the basis of open market value. The annual surplus or deficit is transferred to a revaluation reserve. Provision has been made in the deferred taxation account for the estimated corporation tax which would be payable at these valuations.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 540,000
NET BOOK VALUE
At 31 December 2023 540,000
At 31 December 2022 540,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2012 (327,439 )
Valuation in 2013 6,120
Valuation in 2015 18,483
Valuation in 2016 60
Valuation in 2017 (10,000 )
Valuation in 2018 12,000
Valuation in 2020 53,000
Cost 787,776
540,000

Physio Med Properties Limited (Registered number: 06498461)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INVESTMENT PROPERTY - continued

If the Investment Properties had not been revalued they would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 787,776 787,776

Investment Property was valued on an open market basis on 31 December 2023 by the directors .

6. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Other debtors 2,397 9,506

Amounts falling due after more than one year:
Other debtors 2,356 2,356

Aggregate amounts 4,753 11,862

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 38 -
Taxation and social security 12,079 10,006
Other creditors 396,144 438,586
408,261 448,592

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
£    £   
P R C Clayton
Balance outstanding at start of year 4,250 4,250
Amounts repaid (4,250 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 4,250

Physio Med Properties Limited (Registered number: 06498461)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

J J Fletcher
Balance outstanding at start of year 750 750
Amounts repaid (750 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 750

M C Fletcher
Balance outstanding at start of year 2,250 2,250
Amounts repaid (2,250 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,250

The directors loans are repayable on demand.