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Registration number: 07541884

Burscough Physiotherapy Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Burscough Physiotherapy Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Burscough Physiotherapy Limited

Company Information

Directors

Mr S Moulton

Mr J D M Moulton

Registered office

10 Hattersley Court
Burscough Road
Ormskirk
L39 2AY

Accountants

Rotherham Taylor Limited
Chartered Accountants
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

 

Burscough Physiotherapy Limited

(Registration number: 07541884)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

95,696

57,845

Current assets

 

Debtors

5

74,450

79,814

Cash at bank and in hand

 

130,090

37,726

 

204,540

117,540

Creditors: Amounts falling due within one year

6

(83,414)

(52,033)

Net current assets

 

121,126

65,507

Total assets less current liabilities

 

216,822

123,352

Provisions for liabilities

(3,441)

(4,622)

Net assets

 

213,381

118,730

Capital and reserves

 

Called up share capital

2

2

Retained earnings

213,379

118,728

Shareholders' funds

 

213,381

118,730

For the financial year ending 29 February 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Burscough Physiotherapy Limited

(Registration number: 07541884)
Balance Sheet as at 29 February 2024

Approved and authorised by the Board on 7 November 2024 and signed on its behalf by:
 

.........................................
Mr J D M Moulton
Director

   
     
 

Burscough Physiotherapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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:
10 Hattersley Court
Burscough Road
Ormskirk
L39 2AY

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of physiotherapy services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Government grants

Grants are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Tax

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

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.

 

Burscough Physiotherapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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 balance sheet 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

Fixtures, fittings and equipment

15% reducing balance and 33% on cost

Plant and equipment

15% reducing balance

No depreciation is charged on leasehold improvements since in the opinion of the directors the length of the lease over which the assets would normally be depreciated is sufficiently long that any such depreciation would be immaterial.

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Burscough Physiotherapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Burscough Physiotherapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 3).

 

Burscough Physiotherapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Leasehold improvements
 £

Fixtures and fittings
£

Plant and machinery
£

Computer software
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

33,521

10,088

9,593

18,000

-

71,202

Additions

-

3,413

-

-

50,999

54,412

At 29 February 2024

33,521

13,501

9,593

18,000

50,999

125,614

Depreciation

At 1 March 2023

-

6,848

4,709

1,800

-

13,357

Charge for the year

-

1,289

722

1,800

12,750

16,561

At 29 February 2024

-

8,137

5,431

3,600

12,750

29,918

Carrying amount

At 29 February 2024

33,521

5,364

4,162

14,400

38,249

95,696

At 28 February 2023

33,521

3,240

4,884

16,200

-

57,845

 

Burscough Physiotherapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

debtors

2024
£

2023
£

Trade debtors

9,679

20,793

Prepayments

295

282

Other debtors

64,476

58,739

 

74,450

79,814

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Directors' loan accounts

9

1,355

12,588

Trade creditors

 

26,157

-

Taxation and social security

 

701

644

Other creditors

 

55,201

38,801

 

83,414

52,033

7

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend of £Nil (2023 - £53.00) per each Ordinary share

 

-

 

106,000

         

Reconciliation to Dividends categories

Difference to be corrected

 

(52,258)

 

-

 

Burscough Physiotherapy Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Financial commitments, guarantees and contingencies

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Directors' loan accounts

1,355

12,588

Directors' loans are non-interest bearing and have no formal repayment terms.