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Company No: 12422387 (England and Wales)

FREEDOM PHYSIO LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

FREEDOM PHYSIO LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

FREEDOM PHYSIO LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 January 2024
FREEDOM PHYSIO LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,026 1,708
1,026 1,708
Current assets
Cash at bank and in hand 10,193 9,031
10,193 9,031
Creditors: amounts falling due within one year 4 ( 29,363) ( 23,583)
Net current liabilities (19,170) (14,552)
Total assets less current liabilities (18,144) (12,844)
Net liabilities ( 18,144) ( 12,844)
Capital and reserves
Called-up share capital 5 10 10
Profit and loss account ( 18,154 ) ( 12,854 )
Total shareholder's deficit ( 18,144) ( 12,844)

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Freedom Physio Limited (registered number: 12422387) were approved and authorised for issue by the Director on 09 September 2024. They were signed on its behalf by:

A N Walker
Director
FREEDOM PHYSIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
FREEDOM PHYSIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Freedom Physio Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Coach House, Geeston Road, Ketton, PE9 3RH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £18,144. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 February 2023 2,728 2,728
At 31 January 2024 2,728 2,728
Accumulated depreciation
At 01 February 2023 1,020 1,020
Charge for the financial year 682 682
At 31 January 2024 1,702 1,702
Net book value
At 31 January 2024 1,026 1,026
At 31 January 2023 1,708 1,708

4. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to director 28,463 22,569
Accruals 900 1,014
29,363 23,583

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10 Ordinary shares of £ 1.00 each 10 10

6. Related party transactions

Transactions with the entity's director

At the balance sheet date the director has made loans to the company totalling £28,463 (2023: £22,569). This is an interest free loan, repayable on demand.