Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Dr A C Jarrott 31/01/2009 Mr M S Little 31/01/2009 30 October 2024 The principal activity of the company continued to be that of the provision of chiropractic services. SC354086 2024-01-31 SC354086 bus:Director1 2024-01-31 SC354086 bus:Director2 2024-01-31 SC354086 2023-01-31 SC354086 core:CurrentFinancialInstruments 2024-01-31 SC354086 core:CurrentFinancialInstruments 2023-01-31 SC354086 core:Non-currentFinancialInstruments 2024-01-31 SC354086 core:Non-currentFinancialInstruments 2023-01-31 SC354086 core:ShareCapital 2024-01-31 SC354086 core:ShareCapital 2023-01-31 SC354086 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC354086 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC354086 core:OtherPropertyPlantEquipment 2023-01-31 SC354086 core:OtherPropertyPlantEquipment 2024-01-31 SC354086 bus:OrdinaryShareClass1 2024-01-31 SC354086 2023-02-01 2024-01-31 SC354086 bus:FilletedAccounts 2023-02-01 2024-01-31 SC354086 bus:SmallEntities 2023-02-01 2024-01-31 SC354086 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 SC354086 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC354086 bus:Director1 2023-02-01 2024-01-31 SC354086 bus:Director2 2023-02-01 2024-01-31 SC354086 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-02-01 2024-01-31 SC354086 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-02-01 2024-01-31 SC354086 2022-02-01 2023-01-31 SC354086 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 SC354086 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 SC354086 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC354086 (Scotland)

OPTIMAL HEALTH CHIROPRACTIC LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH THE REGISTRAR

OPTIMAL HEALTH CHIROPRACTIC LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024

Contents

OPTIMAL HEALTH CHIROPRACTIC LIMITED

BALANCE SHEET

AS AT 31 JANUARY 2024
OPTIMAL HEALTH CHIROPRACTIC LIMITED

BALANCE SHEET (continued)

AS AT 31 JANUARY 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 10,835 14,591
10,835 14,591
Current assets
Debtors 4 25,718 5,346
Cash at bank and in hand 57,132 32,789
82,850 38,135
Creditors: amounts falling due within one year 5 ( 93,073) ( 65,452)
Net current liabilities (10,223) (27,317)
Total assets less current liabilities 612 (12,726)
Creditors: amounts falling due after more than one year 6 0 ( 445)
Provision for liabilities ( 2,667) ( 2,772)
Net liabilities ( 2,055) ( 15,943)
Capital and reserves
Called-up share capital 7 1,000 1,000
Profit and loss account ( 3,055 ) ( 16,943 )
Total shareholders' deficit ( 2,055) ( 15,943)

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.

Directors' responsibilities:

The financial statements of Optimal Health Chiropractic Limited (registered number: SC354086) were approved and authorised for issue by the Board of Directors on 30 October 2024. They were signed on its behalf by:

Mr M S Little
Director
OPTIMAL HEALTH CHIROPRACTIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
OPTIMAL HEALTH CHIROPRACTIC 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

Optimal Health Chiropractic Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 70 Newington Road, Edinburgh, EH9 1QN, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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 represents amounts receivable for the provision of chiropractic services.

Revenue from contracts for the provision of chiropractic services is recognised upon completion, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery etc. 4 - 6 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities including creditors and bank loans are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the Company are recorded at the proceeds received, net of direct costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 5

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 February 2023 94,273 94,273
At 31 January 2024 94,273 94,273
Accumulated depreciation
At 01 February 2023 79,682 79,682
Charge for the financial year 3,756 3,756
At 31 January 2024 83,438 83,438
Net book value
At 31 January 2024 10,835 10,835
At 31 January 2023 14,591 14,591

4. Debtors

2024 2023
£ £
Corporation tax 4,699 0
Other debtors 21,019 5,346
25,718 5,346

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 445 534
Trade creditors 0 61
Corporation tax 33,626 1,403
Other taxation and social security 1,261 608
Other creditors 57,741 62,846
93,073 65,452

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 445

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed by key management personnel 13,922 0
Amounts owed to key management personnel 0 7,267

The loan mentioned above is unsecured, interest is charged at 2.25% per annum and repayable on demand.

9. Operating lease commitments

Lessee

2024 2023
£ £
Amounts recognised in the profit and loss as an expense during the period in respect of operating lease arrangements are as follows: 62,333 84,333