P J Hehir Chiropractic Limited
Registered number: 10204805
Statement of Financial Position
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 64,487 68,651
Current assets
Debtors 4 15,442 17,905
Cash at bank and in hand 184,821 145,688
200,263 163,593
Creditors: amounts falling due within one year 5 (61,783) (35,984)
Net current assets 138,480 127,609
Total assets less current liabilities 202,967 196,260
Creditors: amounts falling due after more than one year 6 (9,318) (15,379)
Provisions for liabilities (6,231) (4,967)
Net assets 187,418 175,914
Capital and reserves
Called up share capital 100 100
Profit and loss account 187,318 175,814
Shareholders' funds 187,418 175,914
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P J Hehir
Director
Approved by the board on 18 November 2024
P J Hehir Chiropractic Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold improvements over 10 year lease period
Fixtures and fittings over 10 year lease period
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 5 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Fixtures & Fittings Total
£ £ £ £
Cost
At 1 June 2023 57,716 28,439 18,317 104,472
Additions 2,614 6,969 - 9,583
Disposals - (2,165) - (2,165)
At 31 May 2024 60,330 33,243 18,317 111,890
Depreciation
At 1 June 2023 15,206 14,876 5,739 35,821
Charge for the year 6,447 5,009 1,796 13,252
On disposals - (1,670) - (1,670)
At 31 May 2024 21,653 18,215 7,535 47,403
Net book value
At 31 May 2024 38,677 15,028 10,782 64,487
At 31 May 2023 42,510 13,563 12,578 68,651
4 Debtors 2024 2023
£ £
Prepayments 400 400
Other debtors 15,042 17,505
15,442 17,905
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,061 5,935
Trade creditors 94 -
Accruals 16,994 1,422
Corporation tax 38,388 28,610
Other creditors 246 17
61,783 35,984
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,318 15,379
7 Other information
P J Hehir Chiropractic Limited is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
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