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Registration number: 10744992

Retford Physiotherapy and Pilates Practice Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 April 2024

 

Retford Physiotherapy and Pilates Practice Limited

Directors' Report for the Year Ended 30 April 2024

The directors present their report and the abridged financial statements for the year ended 30 April 2024.

Directors of the company

The directors who held office during the year were as follows:

Mrs Joanne Pritchard

Mr John Pritchard

Principal activity

The principal activity of the company is Physiotherapy and pilates clinic

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 3 December 2024 and signed on its behalf by:
 

.........................................
Mrs Joanne Pritchard
Director

.........................................
Mr John Pritchard
Director

 

Retford Physiotherapy and Pilates Practice Limited

(Registration number: 10744992)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

5,277

676

Current assets

 

Debtors

7

436

1,233

Cash at bank and in hand

 

3,642

5,797

 

4,078

7,030

Creditors: Amounts falling due within one year

(5,395)

(6,901)

Net current (liabilities)/assets

 

(1,317)

129

Total assets less current liabilities

 

3,960

805

Provisions for liabilities

(1,003)

(128)

Accruals and deferred income

 

(660)

(660)

Net assets

 

2,297

17

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

2,197

(83)

Shareholders' funds

 

2,297

17

For the financial year ending 30 April 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 3 December 2024 and signed on its behalf by:
 

 

Retford Physiotherapy and Pilates Practice Limited

(Registration number: 10744992)
Abridged Balance Sheet as at 30 April 2024

.........................................
Mrs Joanne Pritchard
Director

.........................................
Mr John Pritchard
Director

 

Retford Physiotherapy and Pilates Practice Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Dental 22 Building
Chapelgate
Retford
Nottinghamshire
DN22 6PL

These financial statements were authorised for issue by the Board on 3 December 2024.

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of 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.

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.

 

Retford Physiotherapy and Pilates Practice Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 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

Plant and machinery

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Fully amortised

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.

 

Retford Physiotherapy and Pilates Practice Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Trade 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.

Trade 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

 

Retford Physiotherapy and Pilates Practice Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

2024
£

2023
£

Depreciation expense

2,519

225

5

Intangible assets

Total
£

Cost or valuation

At 1 May 2023

15,000

At 30 April 2024

15,000

Amortisation

At 1 May 2023

15,000

At 30 April 2024

15,000

Carrying amount

At 30 April 2024

-

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

1,236

1,236

Additions

7,120

7,120

At 30 April 2024

8,356

8,356

Depreciation

At 1 May 2023

560

560

Charge for the year

2,519

2,519

At 30 April 2024

3,079

3,079

Carrying amount

At 30 April 2024

5,277

5,277

At 30 April 2023

676

676

7

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

 

Retford Physiotherapy and Pilates Practice Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £120.00 (2023 - £247.86) per ordinary share

 

12,000

 

24,786

         

10

Related party transactions

 

Retford Physiotherapy and Pilates Practice Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,750

12,000

Contributions paid to money purchase schemes

26,000

26,000

38,750

38,000